Global Energy and Utility Analytics Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

“Global Energy and Utility Analytics Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global energy and utility analytics market report has been segmented on the basis of component, organization size, industry vertical, and region.

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Global Energy and Utility Analytics Market: Overview

Energy and utility analytics refers to a solution that can analyze existing or real-time data from various sources and improving business functions such as controlling cost, accurately predict demand, exploiting risks, etc.

Global Energy and Utility Analytics Market: Dynamics

Analytical results are utilized to improve business decisions that are associated with its suppliers, operations, risks, and assets, and can directly impact business performance. Moreover, analytics also supports self-service customer access that is used to monitor personal/ end-user data such as usage statements, identification information, and bills which allows customers to access the information at a fingertip. Aforementioned is a factor to increase adoption of analytics by energy and utility industries owing to its customer transparency feature.

Increasing adoption of cloud-based technology and use of open-source technologies by various industries which are emphasizing on increasing business revenues is expected to adoption of analytics initiatives is among some of the major factors that is expected to boost market growth globally.

Organizations across the globe are focusing towards adopting business analytics which is resulting into high demand for data mining, aggregation, and predictive analytics tools. This adoption is employed to offer transparent information for critical decision-making and support implementation of decision systems. Thus, energy and utility organizations across the globe are focusing on adopting business analytics which in turn is a factor expected to support growth of the target market.

Global Energy and Utility Analytics Market: Segment Analysis

Among the industry vertical segments, the utilities segment is projected to dominate in the target market. This growth is attributed to various functionalities covered by analytics for measuring utilities performance includes energy forecasting, smart meter analytics, asset management/analytics, customer segmentation, credit & collections, and many other.

Among the organization size segments, the large enterprises segment is expected to register high adoption rate of analytics in the global market. increasing need for efficiency business operation, to handle large consumer base, and to offer transparency in billing domain are factors expected to boost growth the large enterprises segment in the near future in the global market.

Global Energy and Utility Analytics Market: Region Analysis

Market in North America is expected to contribute highest CAGR in the global market during the forecast period. This is attributed to availability of fully fledge electricity grid, scalable infrastructure, and high demand for operational efficiency by various utilities industries in North America.

The market in Asia Pacific is expected to register high revenue growth opportunities for players operating in the global market. Various organizations in Asia Pacific countries are witnessing high addition of cloud-based solutions and services owing to increasing digitalization.

Whereas, Latin America and Europe markets are expected to growth at a substantial rate in terms of revenue in the target market during the forecast period.

Global Energy and Utility Analytics Market Segmentation:

Segmentation by Component:

• Software
  • Infrastructure
  • Operations
• Services
  • Managed Services
  • Consulting Services
  • Support and Maintenance
  • Deployment and Integration

Segmentation by Organization Size:

• Large Enterprises
• Small and Medium-Sized Enterprises (SME’s)

Segmentation by Industry Vertical:

• Energy, and Oil & Gas
  • Oil
  • Coal
  • Natural Gas
  • Nuclear Power
  • Renewable Energy
• Utilities
  • Water
  • Electricity
  • Waste and Recycle

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa