The report offers an accurate forecast estimation of the Energy and Utilities Analytics Market based on the recent technological and research advancements. It also offers valuable data to assist the investors in formulating strategic business investment plans and capitalize on the emerging growth prospects in the Energy and Utilities Analytics Market.
The global energy and utilities analytics market size is expected to reach USD 6.55 Billion in 2028 and register a steady revenue CAGR over the forecast period, according to latest analysis by Emergen Research. Market revenue growth is primarily driven by increasing demand for energy and need to optimize power generation and planning. According to the International Energy Agency (IEA), global energy demand is expected increase by 37% till 2040. Rising need among utility companies to deliver safer and more affordable, reliable, and sustainable services, in order to meet growing energy demand, is expected to drive revenue growth of the market during the forecast period.
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Key Highlights in the Report
- In November 2019, ExxonMobil entered into a partnership with Microsoft to enhance operational efficiencies and improve its analyses at the Permian Basin acreage, which makes it the largest-ever oil and gas acreage to use cloud technology. XTO Energy, a subsidiary of ExxonMobil, is applying Microsoft technologies, including Microsoft Azure, Dynamics 365, the Internet of Things (IoT), and machine learning.
- Software segment accounted for largest revenue share in the global market in 2020. Energy and utility companies are increasingly utilizing analytics software to get actionable insights, which would help them in maximizing their production, improving efficiency and consumer experience, and in adapting to shifting market dynamics.
- Cloud segment revenue is expected to register a rapid CAGR during the forecast period. Utility companies are increasingly adopting cloud-based, data-driven analytics systems in order to manage the massive amount of data generated by smart grid, smart meters, IoT sensors, and home energy devices of customers.
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Key players operating in the global market include Microsoft Corporation, Eaton Corporation plc, IBM, SAP SE, General Electric Company, AWS, Oracle, Schneider Electric SE, Siemens AG, and Cisco Systems, Inc.
Emergen Research has segmented the global energy and utilities analytics market on the basis of type, deployment, application, and region:
- Type Outlook (Revenue, USD Billion; 2018–2028)
- Deployment Outlook (Revenue, USD Billion; 2018–2028)
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Load Forecasting
- Meter Operation
- Distribution Planning
- Demand Response
Key point summary of the energy and utilities analytics market report:
- The report offers a comprehensive overview of the energy and utilities analytics market size, share, and growth rate in the forecast duration.
- It provides details about current scenario, historical data, giving an accurate energy and utilities analytics market forecast for the coming years.
- The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
- It also offers regional energy and utilities analytics market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
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