What Has Been the Growth of the Energy and Utilities Analytics Market So Far?
The energy and utilities analytics market has seen considerable growth due to a variety of factors.
• The market for energy and utilities analytics has seen accelerated growth in recent years, expanding from $3.3 billion in 2024 to an estimated $3.84 billion in 2025. This represents a compound annual growth rate (CAGR) of 16.2%. The past growth rate can be linked to the increasing complexity within energy systems, a surge in the uptake of renewable energy, the development of smart grids, managing demand response, in addition to efficiency and optimization.
What Is the Forecasted Market Size and Growth Rate for The Energy and Utilities Analytics Market?
The Energy and Utilities Analytics market is expected to maintain its strong growth trajectory in upcoming years.
• The analytics market for energy and utilities is projected to experience significant expansion in the coming years. It is anticipated to rise to $7.16 billion by 2029, with a compound annual growth rate (CAGR) of 16.9%.
Factors contributing to this estimated growth during the predicted period include a shift towards energy efficiency, improved readiness for cybersecurity, increased customer engagement, an emphasis on predictive maintenance, and demand response optimization. Notable market trends for the forecasted period are the integration of AI and machine learning, the inclusion of renewable energy, initiatives for grid modernization, usage of data for decision making, and management of demand response.
What Factors Are Driving Growth In The Energy and Utilities Analytics Market?
The growth of the energy and utilities analytics market is anticipated to be spurred by the increasing implementation of smart meters. These meters monitor and sum the flow of electrical current and voltage regularly to determine power consumption. As the usage of smart meters grows, so does the efficacy of power consumption due to the introduction of a two-way information exchange between utility providers and consumers. This direct communication of data in real time enables the detection of energy interruptions, the pinpointing of energy theft, the prevention of meter data manipulation, and the improvement of service provision. For instance, the Energy Information Administration, a government agency based in the US, reported that in 2022, approximately 119 million advanced metering infrastructures (AMIs), constituting 72% of all electric meters, were installed by US electric utilities. About 88% of these AMI installations were for residential customers, with AMIs accounting for 73% of all residential electric meters. Hence, the expanding use of smart meters significantly contributes to the development of the energy and utilities analytics market.
What Are The Main Segments Of The Global Energy and Utilities Analytics Market?
The energy and utilities analytics market covered in this report is segmented –
1) By Type: Software, Services
2) By Deployment Mode: Cloud, On-Premises
3) By Application: Load Forecasting, Meter Operation, Distribution Planning, Demand Response, Other Applications
Subsegments:
1) By Software: Asset Management Software, Demand Forecasting Software, Energy Management Software, Data Visualization And Reporting Tools
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Training Services
Pre-Book The Energy and Utilities Analytics Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Emerging Trends Are Influencing The Growth Of The Energy and Utilities Analytics Market?
Technological progression is a critical emerging trend in the energy and utilities analytics market; with energy/utility businesses implementing state-of-the-art technologies such as artificial intelligence and cloud computing. By doing so, they generate extensive data sets over time that offer insights into their energy consumption. Big players in this market are continuously innovating to establish superior tech resolutions, solidifying their market standing. Notably, in June 2023, Microsoft Corporation – an IT company based in the US, unveiled the Microsoft Azure Energy Platform. This extensive solution amalgamates AI, IoT, and advanced analytics to improve the reliability and efficiency of energy systems. This platform aids energy businesses in upgrading their data handling and analytics proficiency via the cloud-based OSDU Data Platform. Microsoft has committed to attain 100% renewable energy by 2025 and aims for water positivity by 2030, ensuring that its cloud services align with the energy sector's sustainability objectives. In overall, Microsoft Azure delivers all-inclusive solutions that equip energy firms in boosting efficiency, minimizing costs, and fostering innovation using advanced analytics and IoT technologies.
Who Are the Key Players In The Energy and Utilities Analytics Market?
Major companies operating in the energy and utilities analytics market include:
• Eaton Corporation
• Salesforce Inc.
• International Business Machines Corporation (IBM)
• SAP SE
• Intel Corporation
• General Electric
• Schneider Electric
• Siemens AG
• Cisco Systems Inc.
• Google LLC
• Oracle Corporation
• SAS Institute
• Yellowfin
• OpenText
• Teradata Corporation
• Infor
• Atos World Line India Pvt Ltd.
• TIBCO Software
• Honeywell International Inc.
• Capgemini SE
• ABB Limited
• Hitachi Ltd.
• Siemens Energy AG
• Wipro Limited
• Infosys Limited
• Accenture plc
What Is The Most Dominant Region In The Energy and Utilities Analytics Market?
North America was the largest region in the energy and utilities analytics market share in 2024. The regions covered in the energy and utilities analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
