Energy and Utilities Analytics Market Report 2025

The energy and utilities analytics market size has grown rapidly in recent years. It will grow from $3.3 billion in 2024 to $3.84 billion in 2025 at a compound annual growth rate (CAGR) of 16.2%. The growth in the historic period can be attributed to growing complexity in energy systems, rise in renewable energy adoption, smart grid development, demand response management, efficiency and optimization.

The energy and utilities analytics market size is expected to see rapid growth in the next few years. It will grow to $7.16 billion in 2029 at a compound annual growth rate (CAGR) of 16.9%. The growth in the forecast period can be attributed to energy efficiency focus, cybersecurity readiness, enhanced customer engagement, predictive maintenance emphasis, demand response optimization. Major trends in the forecast period include AI and machine learning integration, renewable energy integration, grid modernization initiatives, data-driven decision making, and demand response management.

The increasing installation of smart meters is anticipated to drive growth in the energy and utilities analytics market. Smart meters measure electrical current flow and voltage at regular intervals, aggregating the data to calculate power consumption. Their widespread deployment enhances energy efficiency by enabling a bi-directional flow of information between utilities and consumers. This real-time data communication facilitates outage detection, identifies power theft, prevents meter data tampering, and improves service quality. For example, in October 2023, the Energy Information Administration, a US government agency, reported that in 2022, U.S. electric utilities installed approximately 119 million advanced metering infrastructure (AMI) systems, accounting for around 72% of all electric meters. Residential customers represented about 88% of AMI installations, with AMI meters comprising 73% of the total residential electric meters. Hence, the increasing adoption of smart meters is driving the growth of the energy and utilities analytics market.

The rising emphasis on renewable energy is expected to contribute to the growth of the energy and utilities analytics market in the coming years. Renewable energy refers to energy sourced from elements that are naturally replenished within a human timeframe. The effective application of energy and utility analytics supports the efficient, reliable, and sustainable implementation of renewable energy technologies, thereby facilitating the transition to a more resilient and cleaner energy system. For instance, in March 2023, the International Renewable Energy Agency (IRENA), a UAE-based intergovernmental organization promoting collaboration and the long-term use of renewable energy, reported a 10% increase in global renewable energy capacity in 2022, marking a 0.4% rise from the previous year's 9.6% growth. Consequently, the increasing focus on renewable energy is propelling the energy and utilities analytics market.

Technological advancements are a significant trend gaining traction in the energy and utilities analytics market. Energy and utility companies are employing cutting-edge technologies, such as artificial intelligence and cloud computing, to generate extensive data sets over time, enabling them to gain insights into energy consumption. Leading firms in the energy and utilities analytics sector are concentrating on developing innovative technological solutions to enhance their market position. For instance, in June 2023, Microsoft Corporation, a US-based IT firm, launched the Microsoft Azure Energy Platform. This comprehensive solution integrates AI, IoT, and advanced analytics to improve the efficiency and reliability of energy systems. The platform aids energy companies in modernizing their data management and analytics capabilities on the cloud-based OSDU Data Platform. Microsoft has pledged to achieve 100% renewable energy by 2025 and aims for water positivity by 2030, aligning its cloud services with sustainability objectives in the energy sector. Overall, Microsoft Azure offers comprehensive solutions that empower energy companies to boost efficiency, lower costs, and foster innovation through advanced analytics and IoT technologies.

Major companies in the energy and utilities analytics market are pursuing strategic partnerships to facilitate revolutionary SAP business transformations within the industry. Strategic partnerships involve companies leveraging each other's strengths and resources to achieve mutual benefits and success. For instance, in October 2023, the International Business Machines Corporation, a US-based technology company, announced an expansion of its partnership with KPMG LLP to assist clients in deploying SAP S/4HANA in the energy and utility sectors, enabling business transformations. KPMG and IBM Consulting combine complementary skills in areas such as SAP technology deployment, cross-industry operations, governance, risk management, finance, tax issues, and operational challenges. The combined expertise and capabilities of these organizations may enhance client outcomes and facilitate effective business resource planning transformations throughout the energy and utility sectors. KPMG LLP is a US-based independent professional services firm that provides audit, tax, and consulting services.

In May 2022, Schneider Electric, a global leader in energy management and automation based in France, acquired AutoGrid for an undisclosed sum. This acquisition is intended to bolster Schneider Electric's energy management capabilities, accelerate the implementation of smart grids, and facilitate the transition to a more sustainable and decarbonized energy ecosystem. AutoGrid, a software company based in the US, specializes in energy management and analytics for utilities and energy firms.

Major companies operating in the energy and utilities analytics market are 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.

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. The countries covered in the energy and utilities analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Energy and utility analytics involve amalgamating data from various sources and analyzing it to drive informed decisions, enhancing efficiency through optimized supply chain and midstream cost management. In the energy and utilities sector, big data analytics primarily focuses on use cases such as predicting, detecting, and preventing power outages.

The key categories within energy and utilities analytics encompass software and services. Software comprises a set of instructions, data, or programs aimed at operating machinery and executing specific tasks. In energy and utilities analytics, software serves as a tool for energy management, data analysis, and financial services. These tools can be deployed via cloud or on-premises setups, employed across functions like load forecasting, meter operations, distribution planning, demand response, and other pertinent areas within the sector.

The energy and utilities analytics market research report is one of a series of new reports that provides energy and utilities analytics market statistics, including energy and utilities analytics industry global market size, regional shares, competitors with a energy and utilities analytics market share, detailed energy and utilities analytics market segments, market trends and opportunities, and any further data you may need to thrive in the energy and utilities analytics industry. This energy and utilities analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The energy and utilities analytics market include revenues earned by entities by analyzing real-time data management, bill management, auditing and tracking bill, customer analytics. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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