Worldwide Latest Market Research Report on “Global Utility And Energy Analytics Market – Segmented by Deployment, Type (Software, Services), Applications (Meter Operation, Load Forecasting, Demand Response, Distribution Planning), and Region – Growth, Trends, and Forecast (2019 – 2023) 2019-2023”
The Global Utility And Energy Analytics market with CAGR of 11.04% 2019-2023. The report begins from overview of Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Utility And Energy Analytics by product, region, and application, in addition, this report introduces market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.
Competitor Analysis: by product types, market share, applications, sales, and revenue.
- Oracle Corporation
- Capgemini SE
- ABB Corporation
- IBM Corporation
- CA Technologies
- SAS Institute Inc
- Siemens AG
- Schneider Electric SE
- SAP SE
- Teradata Corporation
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Overview of Utility And Energy Analytics Market:
The global utility and energy analytics market was valued at USD 2.07 billion in 2017 and is expected to reach a market value of USD 3.95 billion by 2023, registering a CAGR of 11.04% during the forecast period (2019 2023). With the increase in the usage of microgrid control system, and other smart grid systems which enables companies to monitor, control, and analyze grid functioning from a central control center, there is a vast untapped potential of advanced analytics tools and techniques, such as the big data platform and cloud computing.
The scope of the report is limited to solutions offered by major players including providers of software, professional services in meter operation, load forecasting, demand response, demand response, and distribution planning. The study also emphasizes on different types of deployment, such as cloud, on-premise, and hybrid.
Rising Demand for Energy is the Major Market Driver
Global energy needs are expected to grow, with fossil fuels remaining the major source of energy in the forecast period. Developed countries continue to consume large amounts of energy while the demand is increasing in the developing countries. Over 70% of the increased energy demand is from developing countries, led by China and India. Europe and North America use 70 % of the world energy, although this is only 20% of the worlds population. Oil powered 92% of the vehicles in 2014, but that is expected to fall to between 78% and 60% as electric vehicles are expected to become more popular by 2030. It has been estimated that companies around the world spend around USD 7 billion on big data and analytics. Oil, coal, and gas are collectively expected to account for the majority of global primary energy consumption.
North America Expected to Hold the Largest Market Share
The demand in North America is mainly driven by a higher focus on innovations through R&D and technology advancement in developed economies, like Canada and the United States, and this growth is also supported by its large consumption of energy. According to the US Energy Information Administration, the total energy consumption is expected to increase by 5% between 2016 and 2040. With such less growth, it is important for companies to efficiently deliver energy and reduce downtime in order to maintain profitability. This drives the market for data analytics in utilities and energy.
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Reasons to Purchase this Report
The Global demand for Utility And Energy Analytics Market is forecast to report strong development driven by consumption in major evolving markets. More growth opportunities to come up between 2019 and 2025 compared to a few years ago, signifying the rapid pace of change.
Global Utility And Energy Analytics Market highlights the following key factors:
- A complete informative analysis of Utility And Energy Analytics industry, which includes a valuation of the parental market.
- Emerging trends by sections and regional markets.
- Major developments in market dynamics & market overview.
- Utility And Energy Analytics Market shares and methods of key players in the Utility And Energy Analytics market.
- Current and predictable size of Utility And Energy Analytics market from the outlook of both value and volume.
- Reporting and estimation of recent industry developments.
- References to companies for establishment their position in the Utility And Energy Analytics market.
Utility And Energy Analytics Market report passes on a fundamental overview of the Market including its definition, applications, and advancement. Furthermore, the Industry report investigates the ecumenical Major Utility And Energy Analytics Market players in detail. Utility And Energy Analytics Market report gives key bits of Cautiousness and subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry.
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Key Features of the Utility And Energy Analytics Market Report:
- Utility And Energy Analytics Market insights and finger analysis will help take knowledgeable decision in the changing competitive dynamics.
- To build up a far-reaching, verifiable, every year refreshed and financially perceptive data dependent on execution, capacities, objectives, and systems of the world is driving organizations.
- To help current providers reasonably evaluate their money related, advertising and innovative capacities opposite driving contenders.
- To supplement associations internal competing data gathering endeavors by giving vital investigation, information understanding, and knowledge.
- Five-year forecast measure would give a clear understanding of future growth.
- Investigation of upcoming and past market information will help in organizing an outline of current business strategies.
- Comprehensive information of market players will help understand consumer demands and market scope.
- Development opportunities and forecast buyer requests will evoke the collection of revenue.
- A comprehensive analysis of the changing competitive dynamics will keep you ahead of the competitors.
- The fresh proficient elements such as industry production study, revise product-launching events, growth and risk factors will help in the forecast feasibility analysis.
- To distinguish the slightest focused market specialties with huge development potential.
The growth of this market worldwide is subjected to various factors; including consumer world-class Utility And Energy Analytics Market of many Utility And Energy Analytics Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.
In conclusion, Utility And Energy Analytics Market report presents the descriptive analysis of the parent market based on elite players, present, past and futuristic data that will serve as a profitable guide for all the Utility And Energy Analytics Market competitors.
Mr. Ajay More
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