Showing posts with label Energy and Utilities Analytics Market Share. Show all posts
Showing posts with label Energy and Utilities Analytics Market Share. Show all posts

Friday, September 16, 2022

The new technologies: Why are they Essential in the Energy and Utilities Analytics Industry?

Energy and Utilities Analytics Market size is expected to grow from USD 2.0 billion in 2020 to USD 4.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 16.3% during the forecast period according to a new report by MarketsandMarkets™. The major growth factor of the energy and utilities analytics market is the mounting adoption of smart meters for enabling two‐way communication between companies and customers. The prioritization of power generation planning and the need for accurate forecasting, and the investments in digital channels to improve customer processes, experience, and perceived customer value are also expected to drive the market growth.


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Large enterprises segment to hold a larger market size during the forecast period

The energy and utilities analytics market is segmented by organization size into large enterprises and Small and Medium-sized Enterprises (SMEs). The large enterprises segment is expected to hold a larger market size during the forecast period, due to the increasing urge among organizations to adopt energy and utilities analytics solutions and services for delivering better customer experience. Today, most organizations are in the urge to adopt energy and utilities analytics solutions and services to provide better data insights from a large volume of customer data.


Energy vertical to grow at a higher CAGR during the forecast period

The energy and utilities analytics market by vertical is segmented into two categories: energy and utilities. The energy vertical is expected to grow at a higher CAGR during the forecast period. The growth can be attributed to the increasing volume of customer data, changing customer needs, and growing need for efficient supply chain management. These factors have created the need for energy and utilities analytics solutions and services. The energy vertical is a category of stocks that relate to producing or supplying energy. It includes companies involved in the exploration and development of oil or gas reserves, oil and gas drilling, and refining. It also includes integrated power utility companies, such as renewable energy and coal. It has been driving industrial growth, providing fuel to power economies. Companies are focusing on the adoption of various technologies, including IoT and analytics, for powering their respective economies and facilitating the means of production and transportation. It also includes secondary sources such as electricity. Energy prices, along with the earnings performance of energy producers, are largely driven by the supply and demand for worldwide energy.


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North America to hold the largest market size during the forecast period

North America is expected to hold the highest share in the global energy and utilities analytics market, while Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. The North America region is witnessing significant developments in the energy and utilities analytics market. North America is also projected to hold the largest market size during the forecast period. Key factors favoring the growth of the energy and utilities analytics market in North America include the growing investments in the development of various technologies and increasing application of energy and utilities analytics solutions. The growing number of energy and utilities analytics players across regions is also expected to drive the market growth. Major North American vendors in the energy and utilities analytics market are Microsoft (US), IBM (US), Intel (US), GE (US), Cisco (US), Google (US), Oracle (US), SAS Institute (US), Salesforce (US), Teradata (US), AWS (US), MicroStrategy (US), Alteryx (US), TIBCO Software (US), Qlik (US), and Infor (US).


The report includes the study of key players offering energy and utilities analytics solutions and services. The major vendors include Microsoft (US), Eaton (Ireland), IBM (US), SAP (Germany), Intel (US), GE (US), Schneider Electric (France), Siemens (Germany), Cisco (US), Google (US), Oracle (US), SAS Institute (US), Salesforce (US), OpenText (Canada), Teradata (US), AWS (US), Atos (France), MicroStrategy (US), Alteryx (US), TIBCO Software (US), Qlik (US), Yellowfin (Australia), Board International (Switzerland), and Infor (US). The report also includes an in-depth competitive analysis of the key players in the energy and utilities analytics market, along with their company profiles, business overviews, product offerings, recent developments, and market strategies.


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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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