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Agreements, Mergers & Acquisitions, Joint Ventures, and Expansions are the Key Strategies Adopted by Leading Market Players in Energy and Utility Analytics Market
The evolution of energy and utility analytics can be linked to that of analytics, which is considered to be its parent market. The development of this market began in the 1990s where the basic agenda for firms was “how to get the data.” Since then, many companies have adopted this concept to provide the best advanced software for energy and utility sector. In the past few years, several organizations and enterprises have deployed IoT to enjoy the benefits of advanced technology. With the increasing number of connected things across the energy and utility vertical, the data gets generated at a high rate and in different formats, which is vastly unstructured. This huge accumulated data is of high value, and if processed and analyzed properly, it can benefit all. This is where energy and utility analytics comes into the picture; the data generated from sensors, gateways, small integrated chips, devices, huge machines, and even humans can be analyzed by energy and utility analytics application platforms and software. Implementation of energy and utility analytics assists companies in reducing uptime of assets and energy consumption, high operational efficiency and minimum errors, process optimization, predictive analysis for various IoT appliances, reduced cost, and higher Return on Investment (ROI).
The energy and utility analytics market includes a large number of vendors providing software and services; for example, IBM Corporation (U.S.), Intel Corporation (U.S.), SAP SE (Germany), Ericsson (Sweden), Cisco Systems, Inc. (U.S.), Eaton Corporation (Ireland), Schneider Electric Company (France), Capgemini (France), Oracle Corporation (U.S.), and TIBCO Software Inc. (U.S.) Players in this sector have embraced different strategies to extend their global presence and market share. New product launches, collaborations, and partnerships were the key strategies adopted by industry players to further develop in the market. Apart from these, agreements, mergers & acquisitions, joint ventures, and expansions are some of the other significant strategies embraced by the market players in the energy and utility analytics market.
IBM Corporation is one of the eminent leaders in the energy and utility analytics market. The organization has a noteworthy presence across more than 175 countries, and primarily serves the regions of the Americas, Europe, APAC, and MEA. IBM’s long term strategy leans more toward inorganic growth strategy to capture market presence through collaborations & partnerships and mergers & acquisitions. IBM and Cisco have joined forces to provide analytical infrastructure for the companies operating in the energy and utility sector. The combined power of IBM’s Watson business analytics technologies and Cisco’s edge analytics capabilities offers a new way to produce immediate, actionable insight at the point of data collection.
The fundamental objective of SAP SE is to meet every client’s requirement and provide new advancements in analytics. The company has a global presence in the Americas, Asia, Europe, Australia, and MEA. SAP SE is considered one of the strongest suppliers of business intelligence and analytics solutions. The organization follows both organic as well as inorganic strategies to expand its market share. SAP acquired Roambi’s suite of solutions and related key assets with which SAP aims to deliver all-in-one analytics for everyone, available on-premises and in cloud, designed to be ubiquitous and real time.
The global energy and utility analytics market is expected to grow from USD 1.81 Billion in 2016 to USD 3.41 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 13.5%.
Energy and Utility Analytics Market by Type (Software and Service), Application (Predictive Maintenance, Load Research & Forecasting, Transmission & Distribution Management), Vertical (Energy, Oil & Gas and Utilities), Deployment - Global Forecast to 2021
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