As utility companies strive to meet the rising demands of consumers with more affordable, safe, and reliable services, they need to optimize their operations to gain maximum cost benefits. Tech advancements help utility companies recover from disruptions faster, improve efficiency, prevent revenue loss.
According to Research and Markets, the global energy and utilities analytics market size is expected to reach $6.6 billion by 2027, exhibiting a CAGR of 18.36 percent.
The major growth factor of the energy and utilities analytics market is the increased adoption of utility software such as smart meters to analyze a consumer’s resource consumption and help detect any variations. Companies are also massively investing in smart grid infrastructure and leading-edge technologies to ride the wave of digital transformation.
Data sharing has emerged as a widespread trend in the utility analytics arena. Data can give companies valuable insights into important metrics related to power generation to assess operational performance mitigate maintenance issues on a real-time basis. Cloud-based energy and utilities analytics solutions are also gaining traction as they offer various benefits, including cost-effectiveness, flexibility, agility, and scalability.
This edition of Utilities Tech Outlook highlights the recent developments in the utility analytics arena and delivers insights into how businesses are aligning with these trends to transform legacy practices.
We have curated thought leadership articles from industry experts, including the Director, Transmission & Distribution Engineering, AES Indiana, and Senior Director, Transmission Analytics, EDF Renewables.
We also took a deep dive into the market trends to narrow down the list of companies delivering robust utility analytics solutions and services. Equipped with innovative technological capabilities, companies like Conservice and FacilityIssues help transform businesses at the cloverleaf of various disruptive technologies.
We hope this edition of Utilities Tech Outlook on Utility Analytics solutions and services helps you build the partnership you and your organization need to foster an environment driven by efficient technology.
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