Energy and Utilities Analytics Market 2021 Regional and Global Analysis with Forecast Data and Leading Key Player- Microsoft Corporation, Eaton Corporation plc, IBM, SAP SE
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.
The report is updated with the latest economic scenario and market scope with regard to the ongoing COVID-19 pandemic. The report covers growth prospects as well as current and futuristic revenue estimations in a post COVID scenario. The report also covers changing trends and market dynamics due to the pandemic and provides an accurate impact analysis of the crisis on the overall market.
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Key Points of Energy and Utilities Analytics Market:
- Extensive coverage of the analysis of the Energy and Utilities Analytics market
- Key insights into the regional spread of the industry in key geographies
- Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
- Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Energy and Utilities Analytics market
- Complete data about the key manufacturers and vendors in the Energy and Utilities Analytics market
Some 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.
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Market Drivers:
The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
The report also talks about the shift in demands and emerging trends that are expected to drive the growth of the market. The rising demand for the Energy and Utilities Analytics products is expected to drive the demand for Food Vacuum Machine, thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.
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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)
- 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
Regional Analysis:
The report sheds light on the region expected to dominate the Energy and Utilities Analytics market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Energy and Utilities Analytics market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
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Leading Companies of the Energy and Utilities Analytics Industry and Profiled in the Report are:
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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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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Published Tue, 14 Jun 2022 03:01:58 -0500
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