Energy and Utility Analytics Market Research Report - Global Forecast till 2027
Market Highlights
Thernworldwide energy and utility analytics market is set to experience arnskyrocketing CAGR of 16.6% during the forecast period 2019–2027, claims MarketrnResearch Future in its well-elaborated study. The ever-advancing and smartrnrevolution have always been on a lookout for bringing more opportunities in thernworld of analytics. Currently, it has a disruptive impact on the semiconductorrnindustry, where the complexity of data is increasing at a higher pace.rnTherefore, the current trend of technology has taken the market by storm andrnnow is eyeing to gain high-end market valuation during the forecast period.
Thernenergy and utilities sector deals with unique set of challenges, which includernincreasing global demand, market volatility, risks related to safety, andrnunexpected downtime which slows down the operational process. The energy andrnutility sector demand smart grid solutions in order to provide the consumers withrnefficient and reliable energy transmission and distribution. Smart gridrnsolutions offer transmission and distribution grid management, utilityrnanalytics which increases the grid efficiency, reliability, operationalrnperformance of the system and delivers high ROI.
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Market Segmentation
Thernsegmental analysis of the global energy and utility analytics market has beenrnbroadly done by the elements of component, deployment, application, andrnindustry vertical.
Inrnterms of components, the market has included solutions and services. Amongrnthese, the solution segment has also been segmented into customer analytics,rnsmart grid analytics, risk analytics, logistics, financial analytics, assetrnmanagement analytics, and supply chain analytics, and more. At the same time,rnservice segment is also segmented into deployment and integration, support andrnmaintenance, and consulting.
Inrnterms of deployment, the market has been categorized into on-cloud, on-premise,rnand hybrid.
Inrnterms of application, the market includes energy/load forecasting, emergencyrnresponse management, revenue assurance, energy distribution, and transmissionrnmanagement, predictive maintenance, meter optimization, and many more.
Inrnterms of industry vertical, the market includes energy and utility. Amongrnwhich, the energy segment is also segmented into oil, natural gas, renewable energy,rnnuclear power, and coal. At the same time, the utility segment is also furtherrnsegmented into water, electricity, and more.
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Regional Outlook
Thernglobal energy and utility analytics market is projected to grow at arnsignificant rate during the forecast period from 2019 to 2027. The geographicalrnanalysis for global energy and utility analytics market has been conducted forrnNorth America, Europe, Asia-Pacific, the Middle East and Africa, and SouthrnAmerica.
NorthrnAmerica is expected to emerge as the leading region for global energy andrnutility analytics market during the forecast period. The region has beenrnsegmented, by country, into the US, Canada, and Mexico. Presence ofrnleading analytical solution providers planning on investing in developing theirrnsolutions with advanced capabilities to cater to a wide application area isrndriving the growth of the market in North America. Well-establishedrninfrastructure and early adoption of advanced technologies such as IoT and bigrndata analytics to increase operational efficiency are further propelling marketrngrowth.
Europernis following North America in the global energy and utility analytics market inrnterms of market share. Europe is experiencing an increasing adoption ofrnanalytical solutions across the energy and utilities sector owing to providerngrid analytics, energy risk management, forecasting demand, and obtain improvedrnrevenue assurance. However, data privacy and security concerns are expected tornlimit market growth. The region has been segmented, by country, into thernUK, Germany, France, Italy, Spain, Benelux, and the rest of Europe.
Asia-Pacificrnis expected to register the highest CAGR during the forecastrnperiod. Increasing demand for predictive maintenance and load managementrnand forecasting to meet the consumer demands is driving the growth of energyrnand utility analytics market in the region. Growing adoption of the cloudrnplatform and increasing amount of data generated across the energy and utilityrnsector is expected to increase the demand for analytical solutions to managernand analyze the same effectively. The region has been segmented, by country,rninto China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific.
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Key Players
CapgeminirnSE (France), Energysavvy Inc. (US), Schneider Electric (France), IBMrnCorporation (US), General Electric Company (US), SAP SE (Germany), InfosysrnLimited (India), Tibco Software Inc. (US), Oracle Corporation (US), Eaton Corporation (Ireland), Ericssonrn(Sweden), ABB Ltd (Switzerland), SAS Institute Inc. (US), Wegowise Inc. (US),rnWipro Limited (India), are some of the top listed key players contributing inrnthe growth of global energy and utility analytics market.
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Global Energyrnand Utility Analytics Market Research Report: by Component (Solution andrnService), by Deployment (On-Cloud, On-Premise and Hybrid), by Applicationrn(Predictive Maintenance, Energy/Load Forecasting, Revenue Assurance, EnergyrnDistribution and Transmission Management, Meter Optimization, EmergencyrnResponse Management and others), by Industry Vertical (Energy and Utilities)rnand by Region (North America, Europe, Asia-Pacific, Middle East and Africa andrnSouth America) - Forecast till 2027
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About Market Research Future:
At Market ResearchrnFuture (MRFR), we enablernour customers to unravel the complexity of various industries through ourrnCooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw ResearchrnReports (3R), Continuous-Feed Research (CFR), and Market Research &rnConsulting Services.
MRFRrnteam have supreme objective to provide the optimum quality market research andrnintelligence services to our clients. Our market research studies by products,rnservices, technologies, applications, end users, and market players for global,rnregional, and country level market segments, enable our clients to see more,rnknow more, and do more, which help to answer all their most importantrnquestions.
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Contact:
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