Industry Background:
Energy & utility analytics is used to analyze all the information including data history, maintenance records, and operating conditions in energy & utility operations. It provides insights to help utility reduces their cost and develop the most reliable approach to maintenance and repairs. These analytics are used in oil & gas, electricity, renewable energy, nuclear power, and other applications. It gives insights on load forecasting, smart meter analytics, grid analytics, customer analytics, asset management, etc.This growth is primarily driven by Growing Urbanisatioand Industrialization in Developing Countries and Demand for the Automation in Managing the Energy and Utility Analytics for Proper Insights.
Globally, a noticeable market trend is evident Integration of Predictive Analytics with AI and Machine Learning Capabilities in Energy & Utility Analytics Platform. The Business Services sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Microsoft Corporation (United States), Eaton Corporation (Ireland), IBM (United States), Intel Corporation (United States), SAP (Germany), General Electric Company (United States), Siemens AG (Germany), Oracle (United States), TIBCO Software Inc. (United States), Atos (France), WegoWise, Inc. (United States), EnergySavvy (United States), Wipro Limited (India) and Enzen (India) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 15th May 2019, Tendril Acquires EnergySavvy to Enhance Utility Customer Data Analytics. The home energy data specialist’s second acquisition since December puts it in competition with Oracle’s Opower and Bidgely in the utility customer service field.
On 7th April 2021, Enzen has launched its Network Analysis services which aim to accelerate decarbonization and accommodate more renewable energy sources on the grid at a lower cost. Utilizing AI and ML, the services enable Distribution Network Operators (DNOs) and Independent Distribution Network Operators (IDNOs) to assess, plan and invest in their networks more effectively to meet regulatory requirements.
Regulatory Insights:
"A 2007 Federal Energy Regulatory Commission staff report on demand response and advanced metering documents substantial growth in AMI activity taken from the FERC report, shows that some 20 million advanced meters have been installed or contracted as of 2007 and that almost 35 million are “in the pipeline.” With over 100 million electric customer accounts in the U.S., these data suggest that the majority of U.S. electric meters could be using AMI technology sometime in the next decade, although factors such as regulatory approval and meter availability could delay the installation rate. The metering industry has been working to establish ANSI standards for consistency and interoperability of data sets and software. Major states like Texas are already citing the substance of ANSI standards in their metering procurement regulations."
Market Drivers
- Growing Urbanisatioand Industrialization in Developing Countries
- Demand for the Automation in Managing the Energy and Utility Analytics for Proper Insights
Market Trend
- Integration of Predictive Analytics with AI and Machine Learning Capabilities in Energy & Utility Analytics Platform
Restraints
- Lack of Usability of Energy & Utility Analytics in Rural Areas of the World
Opportunities
Surging Government Spendings on the Energy & Utility Analytics Infrastructure and Development
Challenges
Requirement of Skilled Professionals for Energy & Utility Analytics Operation and Understanding
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Energy & Utility Analytics Study Sheds Light on
The Energy & Utility Analytics Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Energy & Utility Analytics industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Energy & Utility Analytics industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.