Global Energy and Utility Analytics Market : Key Players, Growth, Analysis 2020 to 2026

Infinium Global Research’s recent report on the  Energy and Utility Analytics Market (Deployment - Cloud, and On-premise; Type - Software, and Services; Application - Meter Operation, Load Forecasting, Demand Response, Distribution Planning, and Other Applications): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

We are Now Including the Impact Analysis of the COVID-19 on this Premium Report and the Forecast Period of this Report shall be Revised to 2020-2026."

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Data Analytics Provides a Deeper Insight Across All the Dimensions of the Energy and Utility Sector

The energy and utility sectors have experienced a major transformation owing to the increasing advancements in smart meters, smart sensors, and IoT-based technologies. The execution of analytical solutions for managing the enormous data volumes gathered from utility grids, oil wells, generation stations, and energy production sectors further drives this transformation. Data analytics provides a deeper insight across all the dimensions of the energy and utility sector.

Moreover, government initiatives, such as the EU’s Energy Performance of Buildings Directive (EPBD) and the US Commercial Building Initiative (CBI), are forcing public authorities and businesses to step up their efforts to limit greenhouse gas emissions and energy consumption at the community level. Conversely, data security and privacy concerns and lack of skilled analytical expertise are the restraining factors for the energy and utility analytics market.

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The Execution of Analytical Solutions for Managing the Enormous Data Volumes Gathered from Utility Grids, Oil Wells, Generation Stations

The utility companies are significantly investing to deploy smart meters across various regions, which provides a huge opportunity over the forecast period. The instantaneous and long-term challenges the COVID-19 coronavirus pandemic is creating in the energy industry and examines this issue from the viewpoint of both the utilities and the oil and gas sectors.

The coronavirus is wreaking havoc across several industries and creating economic pressures on businesses around the globe. The coronavirus pandemic has a negative impact on the economics, business processes, and technology investments in both utilities and oil and gas sectors, both in the short term and the long term.

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Among the regions, North America is expected to dominate the global energy and utility analytics market. The dominance of this region is due to the presence of top market players such as Oracle Corporation, IBM Corporation, General Electric Company, SAS Institute Inc., and Tibco Software Inc. These companies are heavily investing in R&D to provide better capabilities to their solutions that increase the operational efficiency.

Europe is the second-largest market for energy and utility analytics owing to Well-established infrastructure, high technical expertise, and increasing adoption of the cloud platform. The Asia-pacific region offers a substantial potential for energy and utility analytics market growth due to rapid growth in markets such as India and China.

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