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.
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.
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
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.
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.