Growth in Oil & Gas Sector is anticipated to escalate the Energy & Utility Analytics Market at a CAGR of 12.5%

Latest market study on “Energy & Utility Analytics Market to 2025 by Type (Solution, and Service), Services (Professional Services and Managed Service), Deployment Model (On-Premises, Cloud-Based and Hybrid), Application (Load Forecasting, Customer Analytics, Grid Analytics, Asset Management, Smart Meter Analytics), and Vertical (Oil & Gas, Renewables, Nuclear Power, Electricity, and Water) - Global Analysis and Forecast”, the energy & utility analytics market is estimated to reach US$ 5,713.3 Mn by 2025 from US$ 2,260.0 Mn in 2017. The report includes the key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.

The global energy & utility analytics market is segmented on the basis of verticals into oil & gas, renewables, nuclear power, electricity, water, and others. The segmentation is based upon the need for analytical solutions in various emerging sectors with a purpose to enhance performance and productivity. Oil & gas-based industries in the energy & utility analytics market have acquired the biggest share in 2017, followed by electricity, renewable energy, and nuclear power. Oil & gas companies are the major adopters of analytical solutions. Due to the availability of unstructured and semi-structured data, oil & gas companies are looking ahead to adopt advanced analytical solutions to bridge the performance gap by having access to in-depth detail about the operations.

The major portion of the financial results of oil & gas companies depends on the performance of capital-intensive process facilities. The requirement for advanced tools and solutions in oil & gas companies is rising, to optimize asset management and to lower the amount of data loss. The companies present in the oil & gas industries has started to implement cloud-based data analytics systems.

There has been constant development in energy & utility analytics industry. Recently, in 2018 SAS Institute Inc. showcased a new version of its Viya analytics platform featured with new tools to support the customers to understand and regulate its models in a better way. It also enables to integrate the open-source AI technologies and use of AI to automate the analytics in order to maintain data privacy. Also, in 2017 SAP SE declared the plans to collaborate with Centrica, Energy & Service Company to help the business customers in managing the assets and energy usage based on connectivity through IoT.

Some of the leading players present in the energy & utility analytics players are International Business Machines Corporation, Wipro Limited, Oracle Corporation, EnergySavvy Inc., Capgemini SE, SAS Institute Inc., Infosys Limited, SAP SE, Wegowise, Inc., and BuildingiQ, Inc. among others.

The report segments the global energy & utility analytics market as follows:

Global Energy & Utility Analytics Market - By Type

Solution
Service

Global Energy & Utility Analytics Market - Service

Professional Services
Managed Service

Global Energy & Utility Analytics Market - By Deployment Model

On-Premises
Cloud Based
Hybrid

Global Energy & Utility Analytics Market - By Application

Load Forecasting
Customer Analytics
Grid Analytics
Asset Management
Smart Meter Analytics

Global Energy & Utility Analytics Market - By Verticals

Oil & Gas
Renewables
Nuclear Power
Electricity
Water

Global Energy & Utility Analytics Market - By Geography

North America

U.S.
Canada
Mexico

Europe

France
Germany
Italy
Spain
U.K.
Rest of Europe

Asia Pacific (APAC)

Japan
China
India
Australia
Rest of APAC

Middle East & Africa (MEA)

Saudi Arabia
U.A.E.
South Africa
Rest of MEA

South America (SA)

Brazil
Rest of SA

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