Press release
Smart Meter Deployment Drives Growth In The Energy And Utilities Analytics Market: A Key Driver Powering Energy and Utilities Analytics Market Growth In 2025
Energy and Utilities Analytics
What Is the Current Energy and Utilities Analytics Market Size and Its Estimated Growth Rate?
There has been a swift expansion in the market size of energy and utilities analytics in recent years. The market that was valued at $3.3 billion in 2024 is anticipated to increase to $3.84 billion in 2025, registering a compound annual growth rate (CAGR) of 16.2%. This impressive growth during the historical period can be credited to factors such as the growing complexity of energy systems, the surge in the use of renewable energy, smart grid advancements, demand response management, and efforts towards efficiency and optimization.
The market size of energy and utilities analytics is projected to experience brisk expansion in the upcoming years, reaching $7.16 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 16.9%. The anticipated growth in this period can be pegged on various factors such as emphasis on energy efficiency, readiness for cybersecurity, improved customer interaction, prominence on predictive maintenance, and optimization of demand response. The forecast period is also expected to witness key trends like integration of Artificial Intelligence and machine learning, incorporation of renewable energy, initiatives towards grid modernization, data-infused decision-making, and management of demand response.
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How Are Emerging Segments Shaping the Energy and Utilities Analytics Market Landscape?
The energy and utilities analytics market covered in this report is segmented -
1) By Type: Software, Services
2) By Deployment Mode: Cloud, On-Premises
3) By Application: Load Forecasting, Meter Operation, Distribution Planning, Demand Response, Other Applications
Subsegments:
1) By Software: Asset Management Software, Demand Forecasting Software, Energy Management Software, Data Visualization And Reporting Tools
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Training Services
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Which Growth Factors Are Influencing Energy and Utilities Analytics Market Expansion?
The augmentation of smart meter usage is predicted to stimulate the growth of the energy and utilities analytics market. These smart meters monitor the electric current flow and voltage frequently, compiling the data to calculate the amount of power used. The increasing application of these devices enhances power efficiency by facilitating reciprocal information flow between consumers and utilities. The process offers real-time data communication, which aids in detecting power cuts, identifying electricity theft, preventing meter data manipulation, and improving service quality. For instance, the Energy Information Administration, a government agency based in the US, revealed in October 2023 that in 2022, US electric utilities installed approximately 119 million advanced metering infrastructure (AMI) systems. These systems constituted about 72% of all electric meters, with residential consumers accounting for roughly 88% of AMI installations. AMI meters constituted 73% of all residential electric meters. Hence, the escalating utilization of smart meters is fueling the growth of the energy and utilities analytics market.
Who Are the Dominant Players Across Different Energy and Utilities Analytics Market Segments?
Major companies operating in the energy and utilities analytics market are Eaton Corporation, Salesforce Inc., International Business Machines Corporation (IBM), SAP SE, Intel Corporation, General Electric, Schneider Electric, Siemens AG, Cisco Systems Inc., Google LLC, Oracle Corporation, SAS Institute, Yellowfin, OpenText, Teradata Corporation, Infor, Atos World Line India Pvt Ltd., TIBCO Software, Honeywell International Inc., Capgemini SE, ABB Limited, Hitachi Ltd., Siemens Energy AG, Wipro Limited, Infosys Limited, accenture* plc
What Are the Latest Developing Trends in the Energy and Utilities Analytics Market?
Advancements in technology are a rising trend in the energy and utilities analytics market, becoming increasingly popular. To gain deeper insights into energy usage and consumption, energy and utility companies leverage state-of-the-art technologies like AI and cloud computing, which allows a large generation and collection of data over time. Prominent companies in the energy and utilities analytics market focus on technological solutions' innovation to bolster their market position. For instance, Microsoft Corporation, a prominent IT company in the US, unveiled the Microsoft Azure Energy Platform in June 2023. This inclusive solution amalgamates AI, IoT, and advanced analytics to boost energy system efficiency and reliability. Serving as a modernized data management and analytics platform for energy companies, this cloud-based OSDU Data platform solidifies Microsoft's commitment to achieve 100% renewable energy by 2025 and water positivity by 2030, aligning it with the energy sector's sustainability goals. In essence, Microsoft Azure equips energy companies with comprehensive solutions to enhance efficiency, curb costs, and foster innovation via advanced analytics and IoT.
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Which Geographic Regions Are Expected to Dominate the Energy and Utilities Analytics Market in the Coming Years?
North America was the largest region in the energy and utilities analytics market share in 2024. The regions covered in the energy and utilities analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Energy and Utilities Analytics Market?
2. What is the CAGR expected in the Energy and Utilities Analytics Market?
3. What Are the Key Innovations Transforming the Energy and Utilities Analytics Industry?
4. Which Region Is Leading the Energy and Utilities Analytics Market?
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