Energy & Utility Analytics Market – Use of Intelligent and Innovative Technology Solutions by Top Companies will Drive Industry Growth

Energy & utilities analytic solutions are used in various applications for analyzing important information, such as operating patterns, data history, and maintaining records. This information helps users monitor and deploy maintenance strategies and approaches based on cost-effectiveness and outcome generated in energy and utility operations. These analytics also help users in various industries, such as oil and gas, renewable energy, electricity, and nuclear power, to monitor and analyze the approach used for the required repair and maintenance. The use of energy and utility analytic solutions help in providing insights on smart meter analytics, customer analytics, load forecasting, and asset management, to various companies across regions. Key players operating are focusing on adopting various strategies to gain a lead in the energy & utility analytics market. They are using intelligent and innovative technology solutions, such as smart load management, to offer improved efficiency to companies. For instance, in May 2019, Enzen, a privately-held firm, launched its Network Analysis services. These services would help in accommodating more sources for renewable energy and decarbonizing on the grid at low prices. Through these strategies, companies are focusing on attaining a leading position in the global market. The use of energy & utility analytics is likely to remain high among companies as they provide improved metering infrastructure that enables two-way communication between customers and providers. The need for improved metering infrastructure for effective power generation and accurate forecasting using digital platforms is a major factor that is expected to drive growth of the global energy & utility analytics market. However, with the outbreak of COVID-19, demand for electrical power has reduced due to a decrease in various commercial and industrial activities. This is a major factor that is expected to impact demand for energy & utility analytics solutions in various industries and hamper revenue growth of the market to a certain extent going ahead. Read [email protected]


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