Press release
Global Energy and Utilities Analytics Industry Outlook 2025-2029: Market Set to Cross $7.08 Billion Milestone
Energy and Utilities Analytics
How Large Will the Energy and Utilities Analytics Market Size By 2025?
The market size for energy and utilities analytics has experienced a quick expansion in the past few years. It's projected to go from $3.3 billion in 2024, to $3.82 billion in 2025, boasting a compound annual growth rate (CAGR) of 15.7%. Factors contributing to this growth in the historical period include the increasing complexity of energy systems, a surge in the adoption of renewable energy, the emergence of smart grids, demand response management, and efforts towards efficiency and optimisation.
How Big Is the Energy and Utilities Analytics Market Size Expected to Grow by 2029?
The market size for energy and utilities analytics is projected to experience swift expansion in the coming years, reaching $7.08 billion in 2029 with a CAGR of 16.7%. The projected growth in this period can be credited to factors such as emphasis on energy efficiency, preparations for cybersecurity, improved customer interactions, importance on predictive maintenance, and optimization of demand response. Key trends for this period include the incorporation of AI and machine learning, the inclusion of renewable energy, initiatives for modernizing the grid, data-based decision making, and the management of demand response.
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Which Key Market Drivers Powering Energy and Utilities Analytics Market Expansion and Growth?
The growth of the energy and utilities analytics market is projected to be catalyzed by the increasing use of smart meters. These devices, which measure the flow of electricity and voltage at regular intervals and then tally the measurements to determine power consumption, lead to enhanced power usage efficiency. They achieve this by facilitating a two-way communication between utilities and consumers. Real-time data sharing assists in identifying power theft, detecting outages, preventing meter data manipulation, and elevating service standards. For instance, the Energy Information Administration, a government agency based in the U.S, reported that about 119 million advanced metering infrastructure (AMI) systems were installed by U.S. electric utilities in 2022, accounting for roughly 72% of all electric meters. Of these, about 88% were installed for residential customers, with AMI meters representing 73% of total residential electric meters. Owing to the enhanced deployment of smart meters, the energy and utilities analytics market is experiencing growth.
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Which Fast-Growing Trends Are Poised to Disrupt the Energy and Utilities Analytics Market?
Technological progressions have become a leading trend in the energy and utilities analytics market. The use of advanced technology such as cloud computing and artificial intelligence by energy and utility companies to analyze substantial data and derive insights regarding energy use and consumption is gaining traction. The major players in this market are focusing on the creation of new technological applications to solidify their standing. For instance, the US-based IT organization, Microsoft Corporation, launched the Microsoft Azure Energy Platform in June 2023. This platform, a complete solution, amalgamates AI, the Internet of Things, and advanced analytics to improve the efficiency and reliability of energy systems. The Azure Energy platform aids energy companies to modernize their data management and analytics abilities through the cloud-based OSDU Data Platform. Microsoft is committed to realizing 100% renewable energy by 2025 and is aiming for water positivity by the year 2030, aligning its cloud services with sustainability objectives in the energy division. In conclusion, Microsoft Azure delivers comprehensive solutions that enable energy companies to improve efficiency, minimize costs, and stimulate innovation through IoT and advanced analytics technology.
What Are the Emerging Segments in the Energy and Utilities Analytics Market?
The energy and utilities analyticsmarket 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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Who Are the Global Leaders in the Energy and Utilities Analytics Market?
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
Which are the Top Profitable Regional Markets for the Energy and Utilities Analytics Industry?
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.
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