According to the latest report by IMARC Group, titled, “Utility and Energy Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, The global utility and energy analytics market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 20% during 2021-2026.
Utility and energy analytics refers to the analysis of user data concerning electricity distribution and consumption in real-time. They offer inaccessible information on customer consumption patterns, preferences, and decisions. Utility and energy analytics assist in uncovering forecast demand, managing energy constraints, enhancing regulatory compliance, preventing fraud and loss, improving customer satisfaction, etc. As a result, several key companies provide utility and energy analytical solutions that enable improved operations.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Utility and Energy Analytics Market Trends:
The escalating demand for electricity, the elevating levels of urbanization, and the growing global population are driving the utility and energy analytics market worldwide.Furthermore, the rising utilization of smart water meters and the increasing potable water consumption for domestic, commercial, and industrial applications are also propelling the market growth. In addition to this, the growing data volume and complexity is further increasing the adoption of utility and energy analytics for safe, reliable, and affordable delivery of energy. Moreover, the key manufacturers are providing solutions that can measure information of an asset, such as data history, maintenance records, operating conditions, etc., thereby also bolstering the global market. Apart from this, rising technological advancements to meet the present need for performing complex historical analyses are expected to fuel the utility and energy analytics market in the coming years.
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Utility and Energy Analytics Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
ABB Ltd., BuildingIQ Inc., Capgemini SE, International Business Machines Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Schneider Electric SE, Siemens AG, Salesforce.com Inc., Teradata Corporation and TIBCO Software Inc.
The report has segmented the market on the basis on type, deployment, application and vertical.
Breakup by Type:
Breakup by Deployment:
Breakup by Application:
- Load Forecasting
- Customer Analytics
- Grid Analytics
- Asset Management
- Smart Meter Analytics
Breakup by Vertical:
- Oil and Gas
- Renewable Energy
- Nuclear Power
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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