Global Energy and Utility Analytics Market – Industry Trends and Forecast to 2030

Global Energy and Utility Analytics Market, By Component (Solutions, Services), Deployment Mode (Cloud, On-Premises), Cloud Type (Public Cloud, Private Cloud, Hybrid Cloud), Organization Size (Small and Medium-Sized Enterprises (SMEs), Large Enterprises), Application (Upstream, Midstream, Downstream), Vertical (Energy, Utilities) – Industry Trends and Forecast to 2030.

Energy and Utility Analytics Market Analysis and Size

The rise in demand for analytics with the purpose of discovering insights from the large volumes of data generated across the energy and utilities sector acts as one of the major factors driving the evolution of the energy and utility analytics market. The generation of significant volumes of data across industries due to the high penetration of the Internet of Things (IoT) and growth in government initiatives for adopting advanced metering infrastructure (AMI) accelerate the energy and utility analytics market growth. The rise in the popularity of analytics as it assists in demand forecasting and effective energy management which further prevents fraud, improves compliance with regulatory requests, reduces loss, and improves customer services also acts as a major factor. Additionally, the adoption of cloud platforms, the adoption of smart meters to enable two-way communication between companies and customers, the need for accurate forecasting, and the surge in investments in digital channels positively affect the energy and utility analytics market. Furthermore, the implementation of the internet, the adoption of IoT devices, and the surge in the adoption of IoT devices extend profitable opportunities to the energy and utility analytics market players in the forecast period of 2023 to 2030.                 

Data Bridge Market Research analyses that the global energy and utility analytics market which was USD 2,823.44 million in 2022, would rocket up to USD 9,831.79 million by 2030, and is expected to undergo a CAGR of 16.88% during the forecast period. This indicates that the market value “cloud” is expected to dominate the deployment mode segment of the energy and utility analytics market owing to greater flexibility and can easily scale to meet demand. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Energy and Utility Analytics Market Scope and Segmentation

Market Definition

The energy and utility analytics refer to data solutions that directly influence business performance as they decline costs, detect risks, improve services, and support customer engagement efficiently. These solutions are utilized by energy and utility companies for predicting demand, controlling costs, and expanding business decisions. These are highly being deployed due to the predicted demand, control costs and expanded business decisions, and high competition from providers of alternative energy.            

Global Energy and Utility Analytics Market Dynamics

Drivers

• Rise in the popularity of the analytics

A qualified data analyst has the skills to obtain meaningful conclusions from unstructured data, summarise findings, and use visual presentations to tell the whole story in ways that are straightforward to understand. Having a dedicated analyst on board offers a guarantee that all company data is handled securely and that the processes involved are fully compliant with the relevant legislation. This is expected to drive the global energy and utility analytics market.

Opportunities

• High penetration of the Internet of Things (IoT)

The IoT connectivity landscape only changes slowly when some devices remain connected for a decade or even longer. However, new IoT connectivity technologies do have an impact on the landscape in the long run. This is expected to provide a better opportunity for the global energy and utility analytics market.

Restraints/Challenges

• Technological and analytical skills gaps within the existing workforce

The skills gap is present across the entire tech industry but is particularly acute in operations roles where the rapid pace of change means the workforce needs to be constantly upskilled and expanded. This is expected to restrain the market growth.

This energy and utility analytics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the energy and utility analytics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

This energy and utility analytics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Energy and Utility Analytics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In September 2022, EIU reported about the rising demand for electricity in the Asia-Pacific region will enhance the electricity consumption over EIU’s ten-year forecast period. Moreover, this will create a demand for managing the terms and analytical systems.

Global Energy and Utility Analytics Market Scope

The energy and utility analytics market are segmented on the basis of component, deployment mode, cloud type, organization size, application, and vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component

• Solutions
• Services

Deployment Mode

• Cloud
• On-premises

Cloud Type

• Public Cloud
• Private Cloud
• Hybrid Cloud

Organization Size

• Small and Medium-Sized Enterprises (SMEs)
• Large Enterprises

Application

• Upstream
• Midstream
• Downstream

Vertical

• Energy
• Utility

Energy and Utility Analytics Market Regional Analysis/Insights

The energy and utility analytics market are analysed and market size insights and trends are provided by country, component, deployment mode, cloud type, organization size, application, and vertical as referenced above.

The countries covered in the energy and utility analytics market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa.

North America dominates the energy and utility analytics market due to the rise in investments in the development of various technologies, high usage of energy and utilities analytics solutions, and an increase in the number of energy and utilities analytics players.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Energy and Utility Analytics Growth Installed Base and New Technology Penetration

The energy and utility analytics market also provides detailed market analysis for every country's growth in agriculture expenditure, installed various devices and systems, addition, different kinds of products for the energy and utility analytics market, the impact of technology using new technologies, and changes in the food industry and their impact on the Energy and Utility Analytics market. The data is available for the historic period 2015-2020.

Competitive Landscape and Global Energy and Utility Analytics Market Share Analysis

The energy and utility analytics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to energy and utility analytics market.

Some of the major players operating in the energy and utility analytics market are

• IBM Corporation (U.S.)
• SAP SE (Germany)
• Oracle (U.S.)
• Cisco (U.S.)
• Google (U.S.)
• Siemens (Germany)
• General Electric (U.S.)
• Microsoft (U.S.)
• Eaton (Ireland)
• Amazon Web Services, Inc. (U.S.)
• Schneider Electric (France)
• SAS Institute Inc. (U.S.)
• Salesforce.com, inc. (U.S.)
• Open Text Corporation (Canada)
• Teradata (U.S.)
• Intel Corporation (U.S.)
• Atos SE (France)
• MICROSTRATEGY INCORPORATED (U.S.)
• ALTERYX, INC. (U.S.)
• TIBCO Software Inc. (U.S.)
• Infor (U.S.) among others