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Market Trend – Rising adoption of cloud-based energy and utilities analytics solutions

VANCOUVER, BC, UNITED STATES, May 12, 2022 /EINPresswire.com/ -- According to latest analysis by Emergen Research, Energy and Utilities Analytics Market revenue growth is primarily driven by increasing demand for energy and need to optimize power generation and planning. According to the International Energy Agency (IEA), global energy demand is expected increase by 37% till 2040. Rising need among utility companies to deliver safer and more affordable, reliable, and sustainable services, in order to meet growing energy demand, is expected to drive revenue growth of the market during the forecast period.

The need to optimize business practices and operations to gain maximum cost benefits is boosting utilization of energy and utilities analytics services and solutions among energy and utility companies. The ability of analytics solutions to provide greater visibility, reduce operational costs, improve customer satisfaction and asset reliability, control maintenance issues, and optimize utility consumption is resulting in their increasing demand.

Emergen research’s latest document, titled ‘Energy and Utilities Analytics Market’ is one of the most sought-after market reports involving an in-depth analysis of the global Energy and Utilities Analytics Market. The report’s authors have offered necessary details on the latest Energy and Utilities Analytics Market trends and the crucial parameters impacting both short-term and long-term market growth.

We Have Recent Updates of Energy and Utilities Analytics Market in Sample Copy: https://www.emergenresearch.com/request-sample/986

The report also profiles established and emerging players of the market, covering the business overview, product portfolio, strategic alliances, and business expansion strategies.

Key players operating in the global market include Microsoft Corporation, Eaton Corporation plc, IBM, SAP SE, General Electric Company, AWS, Oracle, Schneider Electric SE, Siemens AG, and Cisco Systems, Inc.

Highlights from the Report

In November 2019, ExxonMobil entered into a partnership with Microsoft to enhance operational efficiencies and improve its analyses at the Permian Basin acreage, which makes it the largest-ever oil and gas acreage to use cloud technology. XTO Energy, a subsidiary of ExxonMobil, is applying Microsoft technologies, including Microsoft Azure, Dynamics 365, the Internet of Things (IoT), and machine learning.

Software segment accounted for largest revenue share in the global market in 2020. Energy and utility companies are increasingly utilizing analytics software to get actionable insights, which would help them in maximizing their production, improving efficiency and consumer experience, and in adapting to shifting market dynamics.

Cloud segment revenue is expected to register a rapid CAGR during the forecast period. Utility companies are increasingly adopting cloud-based, data-driven analytics systems in order to manage the massive amount of data generated by smart grid, smart meters, IoT sensors, and home energy devices of customers.

You Can Download Free Sample PDF Copy Of This Report At: https://www.emergenresearch.com/industry-report/energy-and-utilities-analytics-market

The report studies the historical data of the Energy and Utilities Analytics Market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects.

Emergen Research has segmented the global energy and utilities analytics market on the basis of type, deployment, application, and region:

Type Outlook (Revenue, USD Billion; 2018–2028)

Software

Services

Deployment Outlook (Revenue, USD Billion; 2018–2028)

Cloud

On-premises

Application Outlook (Revenue, USD Billion; 2018–2028)

Load Forecasting

Meter Operation

Distribution Planning

Demand Response

The study further explores and provides an in-depth analysis of current market dynamics and recent trends, focusing on various key factors and potential growth opportunities and risks. The report focuses on leading regions and their major countries to anticipate market growth in the forecast years.

Key geographical areas:

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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The report addresses the following key points:

The report provides a forecast of market drivers, restraints, and future opportunities for the Energy and Utilities Analytics market

The report further analyses the changing market dynamics

Regional analysis and segmentation of the Energy and Utilities Analytics market with analysis of the regions and segments expected to dominate the market growth

Extensive competitive landscape mapping with profiles of the key competitors

In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies

Revenue forecast, country scope, application insights, and product insights

Thank you for reading our report. Customization of the report is available. To know more, please connect with us, and our team will ensure the report is customized as per your requirements.

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