Energy and Utility Analytics Market Will Generate New Growth Opportunities In 2025 | IBM, Oracle, BuildingIQ, Capgemini SE, Energysavvy, Infosys, SAP SE, SAS institute, Wegowise, Wipro
The global energy & utility analytics market accounted to US$ 2.26 Bn in 2017 and is expected to grow at a CAGR of 12.5% during the forecast period 2018 – 2025, to account to US$ 5.71 Bn by 2025.
The most prominent region in the energy & utility analytics market accounted for North America, owing to the fact that the region is the hub of all technological advancements and developments, and the convergence of these megatrends in the region is further anticipated to drive the energy and utility analytics market to a strategic inflection point. A strategic inflection point is a fundamental transformation, which is expected to influence the evolution in how businesses function today. These megatrends in North America are economic, technological, environmental, and resource based in nature.
Some of the key players influencing the energy and utility analytics market are International Business Machines Corporation, Oracle Corporation, BuildingIQ, Inc., Capgemini SE, Energysavvy Inc., Infosys Limited, SAP SE, SAS institute Inc., Wegowise, Inc., Wipro Limited.
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For the energy and utility analytics market, the technological development and primacy of markets have already impacted the American society, further resulting to plummeted price for natural gas as well as renewable energy generation that has brought significant transformation to energy production in all the principal countries of North America. However, the energy & utility market in Asia Pacific is anticipated to be mature significantly over the years till 2025.
Various countries in Asia Pacific region are anticipated to foresee raging economic growth, and owing to this growth the region’s energy demands are also predicted to increase. Currently China is the major energy and utility consumer of APAC region followed by India and rest of APAC. Apart from the energy consumption the region has also exhibited vast oil demands. Also as APAC region is known to be the largest market for coals, the deployment of advanced technologies for management of the distribution and demand forecast. The trend is thus expected to drive the growth of energy and utility analytics market in APAC region.
Increasing Infrastructure Development and Smart Cities is anticipated to Create Lucrative Opportunities in Energy & Utility Analytics Market
The emerging smart cities and infrastructural development across the developing countries such as India and China have been creating the excessive opportunities in the digital analytics market. Implementation of green industrialization and use of renewable energy has been promoted by developed countries. In this era of modernization, use of smart devices and IoT technology has been raising for the real-time accessibility, effectiveness, control and easy managing. Thus, these factors are creating enough opportunities for energy & utility analytics market globally.
Reason to Buy:
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