About Big Data in Energy
The big data generally provides the customer insights, their consumption patterns for transparency by analyzing predicting the behavior of customers towards a particular industry. The big data in energy helps in analyzing the accurate prediction or forecast of energy consumption, which directly or indirectly impacts the power generation and its pricing model. The energy and utility industry generates the lot of statistics form meters, grid solutions, GIS data, storm data, and various other techniques. Big data consists of a large volume of structures or unstructured data resulting into the informed predictive analysis, the analysis is done by using several techniques like statistics, predictive modeling, machine learning to determine patterns, etc.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IBM (United States), SAP SE (Germany), Microsoft Corporation (United States), Accenture plc, (Ireland), Infosys Limited (India), Intel Corporation (United States), Siemens AG (Germany) and Advanced Energy Industries, Inc. (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Big Data in Energy market by Type (Structured Data and Unstructured Data), Application (Grid Operations, Smart Metering, Asset & Workforce Management and Others) and Region.
On the basis of geography, the market of Big Data in Energy has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Software will boost the Big Data in Energy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Data Source, the sub-segment i.e. Grid Equipment will boost the Big Data in Energy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Evolving Energy and Utility Industry Worldwide and The Advent of Automated Software-based Big Data in Energy
Market Growth Drivers:
Rising Demand for the SUbstitute Sources of Energy with the Depletion in Fossil Fuel Availability and Increasing Urbanisation and Consumption of Energy Across the Word Creating Need for Quality Data
Challenges:
Complexities with Maintenance of Equipment and Data Monitoring
Restraints:
Less Number of Expertise in Big Data in Energy and Regulatory Guidelines Associated with Big Data in Energy
Opportunities:
Data-driven Energy Ecosystems for a Sustainable Future and The Continuous Advancement in Big Data in the Energy Sector
On 22nd October 2019, Advanced Energy Industries, Inc. a global leader in highly engineered, precision power conversion, measurement, and control solutions – introduced AE’s PowerInsight, the industry’s first big data analytics enabling solution for critical power delivery systems. PowerInsight transforms the data acquired from power delivery systems into useable insights, through a combination of enhanced data sets and advanced analytics. These capabilities allow our customers to maximize performance, reduce costs, and improve yield in their manufacturing processes.
Key Target Audience
Big Data in Energy Service Providers, Energy Industry Associations, Research and Development Institutes, Financial Institutions and Venture Capital, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.