The global market for energy and utilities analytics is projected to have considerable CAGR of 16.5% during the forecast period.  The major factors that propels the energy and utilities analytics market include growing deployment of smart meters across the globe coupled with growing analytics solution in energy and utilities sectors. Governments across the globe including North American, European as well as Asia-Pacific countries are taking every possible step to install smart meters in every utilities industry such as gas water and electric. For instance, the US government is taking immense steps to install every household and industry with smart meters according to the US Energy Information Administration. Moreover, increasing deployment of advanced metering infrastructure for the two way communication between service provider and consumers for better customers experience further propels the market growth during the forecast period. Moreover, deployment of AI and IoT in energy management further provide substantial opportunity to the market.

 Segmental Outlook  

The global energy and utilities analytics market is segmented based on deployment type and industry. Based on the deployment type, the market is further classified into cloud-based and on-premises. The cloud based segment is projected to grow at a significant CAGR during the forecast period. The energy and utilities sector are adopting cloud based analytics software due to cost effectiveness and scalability benefits. On the basis of industry the market is further segregated into energy and utilities.

 Global energy and utilities analytics Market Share by Industry, 2019(%)

Global energy and utilities analytics market to be driven by utilities Industry

Among industry, the utilities segment held a considerable share in the market owing to the significant rise in the deployment of smart meters coupled with growing demand of analytics software in utilities industry. For managing this, utilities, independent power producers and other energy companies are exploring effective ways. The companies are leveraging analytics software for improving the accessibility and efficiency of utility distribution moreover rising smart infrastructure across the further propels the segmental growth. Cities already consume a majority of energy and other resources and this consumption is gradually rising. All these factors are forcing countries across the globe to look forward to smart cities as a possible solution. For instance, in 2015, the government of India launched smart city mission to modernize the existing tier 1 and tier 2 city so that better utilization of the resources can be done, as a part of this project India is considering a plan to install smart meters in every home and business. 

Regional Outlook 

Geographically, the global energy and utilities analytics market is further classified into North America, Europe, Asia-Pacific and the Rest of the World. Asia-Pacific is estimated to have considerable market growth in the global market during the forecast period. The market growth is attributed to the significant adoption of analytics solutions in economies such as China, Japan, India, South Korea, Thailand, and Australia. The increasing internet penetration has increased the deployment of connected devices, which in turn, is expected to drive the adoption of energy and utilities analytics technology in the region.

Global energy and utilities analytics Market Growth, by Region 2020-2026

North America to hold a considerable share in the global energy and utilities analytics market

Geographically, North America is projected to hold a significant market share in the global energy and utilities analytics market. Major economies which are anticipated to contribute to the North America energy and utilities analytics market are the US and Canada. The developed technological infrastructure and  economic strength of the North America provides a substantial platform for the growth of the market. The high adoption of cloud-based analytics solutions in the region has led to a substantial growth in the market. The government-driven initiatives to offer smart solutions in utility supply are further fueling the market growth in the region. Syncing of these smart meters with smartphone to perform easy remote monitoring of utility supply in North America is again making a remarkable contribution to the market growth in the region. The US  has made a considerable contribution to the market growth owing to the rising investment for smart solutions and smart grid systems by the energy and utilities sector in the region.

  Market Players Outlook

The key players in the energy and utilities analytics market contributing significantly by providing different types of deployments and increasing their geographical presence across the globe. The key players of the market include Microsoft Corp., Eaton Corp., IBM Corp., SAP SE, Oracle Corp., Amazon Web Services, Inc., General Electric Co, Intel Corp., Schneider Electric SE, and others. These market players adopt various strategies such as deployment launch, partnerships, collaborations, mergers, and acquisitions to sustain a strong position in the market. 

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global energy and utilities analytics market. Based on the availability of data, information related to pipeline deployments, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.