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Energy and Utility Analytics Market (Deployment - Cloud, and On-premise; Type - Software, and Services; Application - Meter Operation, Load Forecasting, Demand Response, Distribution Planning, and Other Applications): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : January, 2021

  • Rep Id : ICT00168

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on the energy and utility analytics market provides in-depth analysis of segments and sub-segments in the global as well as regional energy and utility analytics market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional energy and utility analytics market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global energy and utility analytics market. According to the report, the global energy and utility analytics market is projected to grow at a CAGR of 17.2% over the forecast period of 2020-2026.

 

Market Insight

Nowadays, consumer expectations are changing toward more digital applications and adapted services. Behind-the-meter technologies such as rooftop solar, electric vehicles, and energy storage are escalating grid complications. Whereas highly developed metering-infrastructure is improving the granularity and accessibility of grid-edge data. The competition from dispersed energy resources is threatening well-established utility business models at the same time and accelerating consumer load defection. Energy and utility analytics used to uncover new customer usage patterns, forecast superior demand, to manage energy constraints more efficiently. It is also used to improve compliance with regulatory requests, to prevent fraud and reduce loss, and to enhance customer service. The ability to measure and analyze data about electricity distribution and consumption in near-real-time is possible due to energy and utility analytics. It helps to discover previously unavailable information on customers’ consumption patterns, preferences, and decisions.

 

The energy and utility sectors have experienced a major transformation owing to the increasing advancements in smart meters, smart sensors, and IoT-based technologies. The execution of analytical solutions for managing the enormous data volumes gathered from utility grids, oil wells, generation stations, and energy production sectors further drives this transformation. Data analytics provides a deeper insight across all the dimensions of the energy and utility sector. Moreover, government initiatives, such as the EU’s Energy Performance of Buildings Directive (EPBD) and the US Commercial Building Initiative (CBI), are forcing public authorities and businesses to step up their efforts to limit greenhouse gas emissions and energy consumption at the community level. Conversely, data security and privacy concerns and lack of skilled analytical expertise are the restraining factors for the energy and utility analytics market. The utility companies are significantly investing to deploy smart meters across various regions, which provides a huge opportunity over the forecast period. The instantaneous and long-term challenges the COVID-19 coronavirus pandemic is creating in the energy industry and examines this issue from the viewpoint of both the utilities and the oil and gas sectors. The coronavirus is wreaking havoc across several industries and creating economic pressures on businesses around the globe. The coronavirus pandemic has a negative impact on the economics, business processes, and technology investments in both utilities and oil and gas sectors, both in the short term and the long term.

 

Among the regions, North America is expected to dominate the global energy and utility analytics market. The dominance of this region is due to the presence of top market players such as Oracle Corporation, IBM Corporation, General Electric Company, SAS Institute Inc., and Tibco Software Inc. These companies are heavily investing in R&D to provide better capabilities to their solutions that increase the operational efficiency. Europe is the second-largest market for energy and utility analytics owing to Well-established infrastructure, high technical expertise, and increasing adoption of the cloud platform. The Asia-pacific region offers a substantial potential for energy and utility analytics market growth due to rapid growth in markets such as India and China.


Energy and Utility Analytics Market

 

Segment Covered

The report on the global energy and utility analytics market covers segments such as deployment, type, and application. On the basis of deployment, the sub-markets include cloud and on-premise. On the basis of type, the sub-markets include software, and services. On the basis of application, the sub-markets include meter operation, load forecasting, demand response, distribution planning, and other applications.

 

Companies Profiled:

The report provides profiles of the companies in the market such as ABB Ltd, IBM Corporation, Oracle Corporation, Capgemini SE, General Electric Company, SAP SE, Tibco Software Inc., Schneider Electric, Ericsson, and Eaton Corporation.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the energy and utility analytics market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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