Press release
Energy & Utility Analytics Market to 2025 - International Business Machines Corporation, Wipro, Oracle Corporation, Energy Savvy, Capgemini SE, SAS Institute, Infosys, SAP SE, Wegowise, and BuildingiQ.
Energy & Utility Analytics Market
Growth in Oil & Gas Sector is anticipated to escalate the Energy & Utility Analytics Market at a CAGR of 12.5%
Latest market study on “Energy & Utility Analytics Market to 2025 by Type (Solution, and Service), Services (Professional Services and Managed Service), Deployment Model (On-Premises, Cloud-Based and Hybrid), Application (Load Forecasting, Customer Analytics, Grid Analytics, Asset Management, Smart Meter Analytics), and Vertical (Oil & Gas, Renewables, Nuclear Power, Electricity, and Water) - Global Analysis and Forecast”, the energy & utility analytics market is estimated to reach US$ 5,713.3 Mn by 2025 from US$ 2,260.0 Mn in 2017. The report includes the key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.
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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.
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The report segments the global energy & utility analytics market as follows:
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
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
U.K.
Rest of Europe
Asia Pacific (APAC)
Japan
China
India
Australia
Rest of APAC
Middle East & Africa (MEA)
Saudi Arabia
U.A.E.
South Africa
Rest of MEA
South America (SA)
Brazil
Rest of SA
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