Insights Into The Energy And Utilities Analytics Market’s Growth Opportunities Through 2023-2032 – Includes Energy And Utilities Analytics Market Report
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The rising deployment of smart meters are expected to drive innovation in energy and utilities analytics manufacturing, thus driving the market during the forecast period.
The global energy and utilities analytics market is expected to grow from $2.43 billion in 2022 to $2.86 billion in 2023 at a compound annual growth rate (CAGR) of 17.4%. The energy and utilities analytics market size is expected to reach $5.18 billion in 2027 at a CAGR of 16%.
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- By Type: Software, Services
- By Deployment Mode: Cloud, On-Premises
- By Application: Load Forcasting, Meter Operation, Distribution Planning, Demand Respone, Other Applications
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global energy and utilities analytics market in 2021.
Major Market Players in the energy and utilities analytics market include Eaton, Salesforce, International Business Machines Corporation, SAP SE, Intel, General Electric, Schneider Electric, Siemens.
Technological Advancements are a key trend gaining popularity in the energy and utilities analytics market. Energy and utility companies use cutting-edge technology in their operations, such as artificial intelligence, cloud computing technology to generate massive data sets collected over time to gain insight about energy and consumption. Major companies operating in the energy and utilities analytics market are focused on developing new technological solutions to strengthen their position. For instance, in April 2021, Bidgely, a US-based innovation partner for UtilityAI company, launched energy analytics for utilities on the salesforce app exchange. Through this, customers can enrich account analysis for utilities by using Bidgely’s energy insight widgets embedded within the salesforce. The solution addresses a significant pain point for utility system integrators by unifying customer data into a single platform by integrating consumption-level insights into their existing CRM system.
The Energy And Utilities Analytics Global Market Report 2023 provides a energy and utilities analytics market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The energy and utilities analytics market forecast analyzes energy and utilities analytics market size, energy and utilities analytics market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Energy and utility analytics refer to a process of combining the data from many sources and analyse it to make smart, data-driven decisions such as improving efficiency by optimizing supply chain and midstream costs. The primary use cases of the big data analytics in the energy and utilities sector are prediction, detection, and prevention of power outages.
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