The global big data analytics in energy market revenue was around US$ 10.8 billion in 2022 and is estimated to reach US$ 36.8 billion by 2031, growing at a compound annual growth rate (CAGR) of 14.6% during the forecast period from 2023 to 2031.
Big data analytics in energy services is a complete solution to the utilization of greener power generation. It enables sustainability consultancy services and aids in lowering greenhouse gas emissions with dependable renewable energy purchases. Furthermore, big data analytics services seek to resolve complicated business difficulties to make strategic investment decisions.
Market Driving Factors
The surge in investment in the digitization of the energy sector is propelling market expansion. This is because of the digitalization platforms and tools that assist in building renewable energy plants with automated processes, for informed determination making. Additionally, the interconnections they propose are the base of a more decentralized generation, thus avoiding remote energy islands. Furthermore, these platforms decrease downtime by providing alerts based on predictive maintenance and predicting asset maintenance.
An increase in demand for effective power generation planning is estimated to boost market growth. This is mainly due to the big data analytics is assisting in the existence of unscheduled, scheduled outages, and unexpected variations in the system load. Additionally, the development of a proper transmission network to transport the developed electrical energy to the bulk load centers also benefits growth. Moreover, energy analytics is a useful tool for offering an understanding of plausible energy futures, and a useful tool for supporting stakeholders and policymakers in strategic decision-making connected to the green energy transition.
Strict government norms and regulations, workforce skill gaps in technology and analysis, and lack of technological experience. Thus, these factors hinder the market growth.
Regional Analysis
Asia-Pacific dominated the market in terms of growth rate and is estimated to continue its dominance. This can be mainly attributed to the increased awareness regarding the significance of supporting overall big data analytics, IoT technologies & other technology services to ensure storage solutions, less-cost servers, and easy accessibility of analytical solutions in the region.
North America is expected to dominate the market in terms of the largest share. This is primarily due to the substantial demand for big data analytics in the energy sector. Additionally, the region is inclined towards renewable energy sources, which is estimated to boost the growth of data analytics in smart grid systems.
Europe is also estimated to dominate the market in terms of revenue. This is owing to its substantial focus on enhancing operational efficiency from administration and government. In addition, a substantial surge in demand for improving the energy industry's flexibility and efficiency has created a growth possibility in the market for the region.
Segmentation Insights
Offering Insight
The solution segment dominates the market in terms of the growth rate. This is mainly because it allows facilities to examine all energy consumption across different equipment and facilities.
The service segment is estimated to dominate the market in terms of the highest rate during the projection period. This is due to the high level of price savings on the total expense of ownership, raised delivery speed, and quality.
Enterprise Size Insight
The large enterprise segment dominates the market in terms of the largest share. This is mainly owing to its aids in maintaining functionalities such as billing, charging, rating, and consumer experience.
The SMEs segment is expected to dominate the market in terms of the highest rate during the projection period. This is owing to the advancement of 5G, IT, IoT technologies, and other technologies that aid organizations to efficiently manage complicated operations, and support services along with significant decreases in operational expense.
Prominent Companies
Segmentation Outline
The global big data analytics in energy market segmentation focuses on the Offering, Application, End User, Enterprise Size, and Region.
By Offering
By Application
By End User
By Enterprise Size
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL BIG DATA ANALYTICS IN ENERGY MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: BIG DATA ANALYTICS IN ENERGY MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL BIG DATA ANALYTICS IN ENERGY MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL BIG DATA ANALYTICS IN ENERGY MARKET, BY OFFERING
5.1 OVERVIEW
5.2 SOLUTION
5.3 SERVICE
6 GLOBAL BIG DATA ANALYTICS IN ENERGY MARKET, BY APPLICATION
6.1 OVERVIEW
6.2 WORKFORCE ANALYTICS
6.3 SUPPLY CHAIN AND LOGISTICS ANALYTICS
6.4 CUSTOMER ANALYTICS
6.5 SPATIAL ANALYTICS
6.6 PRICING ANALYTICS
6.7 ASSET ANALYTICS
6.8 OTHERS
7 GLOBAL BIG DATA ANALYTICS IN ENERGY MARKET, BY END USER
7.1 OVERVIEW
7.2 ENERGY
7.3 UTILITIES
8 GLOBAL BIG DATA ANALYTICS IN ENERGY MARKET, BY ENTERPRISE SIZE
8.1 OVERVIEW
8.2 LARGE ENTERPRISES
8.3 SMES
9 GLOBAL BIG DATA ANALYTICS IN ENERGY MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL BIG DATA ANALYTICS IN ENERGY MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 ENERGYLY
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 ACCENTURE
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 HEWLETT PACKARD ENTERPRISE
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 ORACLE CORPORATION
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 TERADATA
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 MICROSOFT CORPORATION
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 INFOSYS LIMITED
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8 SAS INSTITUTE INC
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.9 GOOGLE LLC
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.10 IBM CORPORATION
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.11 INTEL CORPORATION
11.11.1 OVERVIEW
11.11.2 FINANCIAL PERFORMANCE
11.11.3 PRODUCT OUTLOOK
11.11.4 KEY DEVELOPMENTS
11.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.12 SAP SE
11.12.1 OVERVIEW
11.12.2 FINANCIAL PERFORMANCE
11.12.3 PRODUCT OUTLOOK
11.12.4 KEY DEVELOPMENTS
11.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.13 ENVIEW
11.13.1 OVERVIEW
11.13.2 FINANCIAL PERFORMANCE
11.13.3 PRODUCT OUTLOOK
11.13.4 KEY DEVELOPMENTS
11.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.14 DELL TECHNOLOGY
11.14.1 OVERVIEW
11.14.2 FINANCIAL PERFORMANCE
11.14.3 PRODUCT OUTLOOK
11.14.4 KEY DEVELOPMENTS
11.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.15 TIBCO SOFTWARE INC.
11.15.1 OVERVIEW
11.15.2 FINANCIAL PERFORMANCE
11.15.3 PRODUCT OUTLOOK
11.15.4 KEY DEVELOPMENTS
11.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.16 SIEMENS AG
11.16.1 OVERVIEW
11.16.2 FINANCIAL PERFORMANCE
11.16.3 PRODUCT OUTLOOK
11.16.4 KEY DEVELOPMENTS
11.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.17 ALTERYX INC.
11.17.1 OVERVIEW
11.17.2 FINANCIAL PERFORMANCE
11.17.3 PRODUCT OUTLOOK
11.17.4 KEY DEVELOPMENTS
11.17.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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