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), Country (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) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Energy and Utility Analytics Market
The energy and utility analytics market is expected to witness market growth at a rate of 16.20% in the forecast period of 2021 to 2028. Data Bridge Market Research report on energy and utility analytics market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in the usage of smart grids is escalating the growth of energy and utility analytics market.
The energy and utility analytics refer to data solutions which directly influence business performance as they decline costs, detect risks, improve services and support customer engagement efficiently. These solutions are utilized by the energy and utility companies for predicting demand, controlling costs and expanding business decisions. These are highly being deployed due to the predict demand, control costs and expand business decisions and high competition from providers of alternative energy.
The rise in demand for of 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 growth of energy and utility analytics market. The generation of significant volumes of data across the industries due to the high penetration of 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 the analytics as it assists in demand forecasting and to 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, adoption of cloud platform, adoption of smart meters to enable two-way communication between companies and customers, need for accurate forecasting and surge in investments in digital channels positively affect the energy and utility analytics market. Furthermore, implementation of internet, adoption of IoT devices and surge in the adoption of IoT devices extend profitable opportunities to the energy and utility analytics market players in the forecast period of 2021 to 2028.
On the other hand, issues with the legacy database technologies restricting utility effectiveness, implementation of stringent government rules and regulations and technological and analytical skills gaps within the existing workforce act as the factors expected to obstruct the energy and utility analytics market growth. The rise in concerns regarding the data security and privacy, inability to analyze streaming IoT data and lack of skilled analytical expertise are projected to challenge the energy and utility analytics market in the forecast period of 2021-2028.
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, 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 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.
Energy and Utility Analytics Market Scope and Market Size
The energy and utility analytics market is segmented on the basis of component, deployment mode, cloud type, organization size, application and vertical. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the energy and utility analytics market is segmented into solutions and services. Solutions are further segmented into platform and software. Services are further segmented into managed services and professional services. Professional services are sub-segmented into consulting, deployment and integration and support and maintenance.
- On the basis of deployment mode, the energy and utility analytics market is segmented into cloud and on-premises.
- On the basis of cloud type, the energy and utility analytics market is segmented into public cloud, private cloud and hybrid cloud.
On the basis of organization size, the energy and utility analytics market is segmented into small and medium-sized enterprises (SMEs) and large enterprises.
On the basis of application, the energy and utility analytics market is segmented into upstream, midstream and downstream. Upstream application is further segmented into exploration and drilling analytics, production planning and forecasting analytics, field surveillance analytics, workforce management analytics and predictive asset analytics. Midstream application is further segmented into logistics and supply chain analytics, grid analytics and storage optimization analytics. Downstream application is further segmented into pricing analytics, advanced infrastructure analytics, customer analytics and call center optimization.
On the basis of vertical, the energy and utility analytics market is segmented into energy and utilities. On the basis of energy vertical, the energy and utility analytics market is segmented into oil and gas, mining, renewable energy and others. On the basis of utilities vertical, the energy and utility analytics market is segmented into electricity, water and waste.
Global Energy and Utility Analytics Market Country Level Analysis
The energy and utility analytics market is analyzed and market size, volume information is provided by country, component, deployment mode, cloud type, organization size, application and vertical as referenced above.
The countries covered in the global energy and utility analytics market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
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 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, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and 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, 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.
The major players covered in the energy and utility analytics market report are IBM Corporation, SAP SE, Oracle, Cisco, Google, Siemens, General Electric, Microsoft, Eaton, Amazon Web Services, Inc., Schneider Electric, SAS Institute Inc., Salesforce.com, inc., Open Text Corporation, Teradata, Intel Corporation, Atos SE, MICROSTRATEGY INCORPORATED, ALTERYX, INC., TIBCO Software Inc., Infor among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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