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Energy and Utility Analytics Market Growth Focusing on Trends & Innovations during the Period | Global Key Players - International Business Machines Corporation, Wipro Limited, Oracle Corporation, EnergySavvy Inc., Capgemini SE and SAS Institute Inc
Energy and Utility Analytics Market
The Energy and Utility Analytics Market is estimated to reach USD 5,713.3 Million by 2025 from USD 2260.0 Million in 2017 growing at a CAGR of 12.5% between 2018 and 2025.
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Energy and Utility Analytics Market Overview
The global energy & utility analytics market is segmented on the basis of verticals into oil & gas, renewables, nuclear power, electricity, water, and others. The segmentation is based upon the need for analytical solutions in various emerging sectors with a purpose to enhance performance and productivity. Oil & gas-based industries in the energy & utility analytics market have acquired the biggest share in 2017, followed by electricity, renewable energy, and nuclear power. Oil & gas companies are the major adopters of analytical solutions. Due to the availability of unstructured and semi-structured data, oil & gas companies are looking ahead to adopt advanced analytical solutions to bridge the performance gap by having access to in-depth detail about the operations.
The major portion of the financial results of oil & gas companies depends on the performance of capital-intensive process facilities. The requirement for advanced tools and solutions in oil & gas companies is rising, to optimize asset management and to lower the amount of data loss. The companies present in the oil & gas industries has started to implement cloud-based data analytics systems.
There has been constant development in energy & utility analytics industry. Recently, in 2018 SAS Institute Inc. showcased a new version of its Viya analytics platform featured with new tools to support the customers to understand and regulate its models in a better way. It also enables to integrate the open-source AI technologies and use of AI to automate the analytics in order to maintain data privacy. Also, in 2017 SAP SE declared the plans to collaborate with Centrica, Energy & Service Company to help the business customers in managing the assets and energy usage based on connectivity through IoT.
Energy and Utility Analytics Market Key Players
Some of the leading players present in the energy & utility analytics players are International Business Machines Corporation, Wipro Limited, Oracle Corporation, EnergySavvy Inc., Capgemini SE, SAS Institute Inc., Infosys Limited, SAP SE, Wegowise, Inc., and BuildingiQ, Inc. among others.
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Energy and Utility Analytics Market Segmentation
Global Energy & Utility Analytics Market - By Type
Solution
Service
Global Energy & Utility Analytics Market - Service
Professional Services
Managed Service
Global Energy & Utility Analytics Market - By Deployment Model
On-Premises
Cloud Based
Hybrid
Global Energy & Utility Analytics Market - By Application
Load Forecasting
Customer Analytics
Grid Analytics
Asset Management
Smart Meter Analytics
Global Energy & Utility Analytics Market - By Verticals
Oil & Gas
Renewables
Nuclear Power
Electricity
Water
Global Energy & Utility Analytics Market - By Geography
North America
Europe
Asia Pacific (APAC)
Middle East & Africa (MEA)
South America (SA)
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