Energy and Utilities Analytics Market Size Report Predicts Healthy Growth with Demand & Forecasts by 2024-2031

Cohesive government initiatives towards the installation of smart meters across the globe to drive the market growth as the government is taking immense steps to install every household and industry with smart meters to curb the ongoing gas theft which is done by meter tampering. These factors are forcing the government to install smart meters. In Europe primarily in the UK where the Government is committed to ensuring that every home and small business in the country is offered a smart meter by the end of 2020 according to the UK energy department. This Smart Metering Program aims to roll-out over 50 million smart gas and electricity meters to all domestic properties and smart or advanced meters to smaller non-domestic sites in Great Britain impacting approximately 30 million premises.

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Growing deployment of smart meters further propels the energy and utilities analytics market

The market for energy & utilities analytics is projected to growth with the growing deployment of smart meters across the globe. For instance in 2018, the US utilities had installed nearly 86.8 million advanced metering infrastructure (AMI) installations. Out of this 88% of the AMI, installations were residential customer installations. In 2017, there were 1,308,715 miles of distribution mains, and 927,012 miles of service lines in operation in the US. Each distribution main and service line is equipped with several pumping and regulating stations to control the flow of natural gas in the pipeline system. At the point where the system connects to customers' piping, smart gas meters are installed to measure the amount of natural gas supplied to individual premises to reduce the theft and safeguard the pipelines.

According to the Government of UK, as of March 2019, large energy suppliers had installed 15.3 million smart meters across domestic sites in Great Britain out of which 6.6 million have been gas smart meters and 8.7 million have been electricity smart meters. As of March 2019, there were a total of 21.3 million gas meters and 25.7 million electricity meters operated by large energy suppliers in domestic sites across Great Britain. Thus, the increasing installation of smart meters is attributing to the adoption of the energy and utilities analytics market. Further in India, Tata Communications will work with Mahanagar Gas (MGL) a government-backed company to deploy 5,000 smart gas meters in Mumbai, India. According to the company said that the new smart meters will give households and businesses visibility and control over their gas usage, allowing to improve their operational efficiency. Moreover, other than theft, smart meters also allow detection of unnoticed gas leakage owing to which the installation of these meters is on the rise in the North American region. For instance, in January 2018, a natural gas pipeline exploded due to continuous leakage in Geismar, Louisiana, the US.

Global energy and utilities analytics Market Segmentation

By Deployment Type

• Cloud-Based
• On-Premises

By Industry

• Energy
• Utilities

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Energy and Utilities Analytics Market Report Segment by Region

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

Company Profiles

• Amazon Web Services, Inc.
• Atos SE
• Alteryx, Inc.
• Cisco Systems, Inc.
• Eaton Corp.
• General Electric Co.
• Google LLC
• IBM Corp.
• Intel Corp.
• Microsoft Corp.

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