The latest market intelligence report, titled ‘Global Energy and Utilities Analytics Market’, The need to optimize business practices and operations to gain maximum cost benefits is boosting utilization of energy and utilities analytics services and solutions among energy and utility companies. The ability of analytics solutions to provide greater visibility, reduce operational costs, improve customer satisfaction and asset reliability, control maintenance issues, and optimize utility consumption is resulting in their increasing demand. Adoption of cloud-based energy and utilities analytics solutions is increasing rapidly, as they enable utility companies to provide scalability, deliver flexible power and better customer service, maintain equipment more easily, and streamline energy efficiency programs. The cloud-based data management visualization and analytics solution by IBM, for instance, help energy providers to improve asset utilization, avoid asset failures, decrease loss of service, and optimize network availability.
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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The global Energy and Utilities Analytics market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East Africa. It evaluates the presence of the global Energy and Utilities Analytics market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.
Leading companies profiled in the report:
Microsoft Corporation, Eaton Corporation plc, IBM, SAP SE, General Electric Company, AWS, Oracle, Schneider Electric SE, Siemens AG, and Cisco Systems, Inc
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This report is the latest document encompassing the massive changes that took place in the Energy and Utilities Analytics market following the emergence. The pandemic has drastically affected the global economic landscape, thereby disrupting the operating mechanism of the Energy and Utilities Analytics market. The severe global crisis has prompted organizations to efficiently respond to the rapidly shifting business environment.
Type Outlook (Revenue, USD Billion; 2018–2028)
- Software
- Services
Deployment Outlook (Revenue, USD Billion; 2018–2028)
- Cloud
- On-premises
Application Outlook (Revenue, USD Billion; 2018–2028)
- Load Forecasting
- Meter Operation
- Distribution Planning
- Demand Response
- Others
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