The global Energy Intelligence Solution Market size is expected to reach USD 4.6 Billion in 2022 and USD 6.1 Billion in 2032. It is estimated to showcase growth at a CAGR of 15.2% in the forecast period from 2022 to 2032.
The increasing demand for smart meters for initiating two-way communication between customers and organizations is set to propel the sales of energy intelligence solutions.
| Report Attributes | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 3.1 Billion |
| Expected Market Value (2022) | USD 4.6 Billion |
| Anticipated Forecast Value (2032) | USD 6.1 Billion |
| Projected Growth Rate (2022 to 2032) | 15.2% CAGR |
Energy intelligence solutions have started gaining immense popularity across the globe in recent years. These help various companies in obtaining granular energy data from their energy estate. It is essential to gain access to crucial data for ensuring equipment health, lowering operational costs, reducing expensive downtime, and increasing efficiency. ;
The rapid digital revolution in the energy industry with the emergence of the Internet of Things (IoT) and other advanced technologies is set to spur the sales of energy intelligence solutions in the near future.
The ability of these solutions to help companies in gaining actionable energy insights and monitoring their energy usage based on the data generated is also estimated to augur well for the market.
These solutions can prevent equipment malfunctions by analyzing energy consumption for detecting assets that may otherwise not be performing normally.
These provide real-time alerts on the energy management platform in case of issues associated with equipment failures. The ability of these solutions to detect a potential issue as soon as it occurs leads to reduced downtime, which is set to drive the energy intelligence solution market growth.
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The urgent need to provide accurate forecasting and ;the prioritization of power generation planning are expected to bode well for the market in the evaluation period.
The increasing investments by key players in the development of digital channels to enhance customer experience and processes, as well as improve the perceived customer value are anticipated to accelerate the demand for energy intelligence solutions.
The sales of cloud-based solutions are set to surge in the upcoming years with the emergence of new products in the market. Cloud-based products are projected to help manufacturers in automating an organization’s equipment maintenance process and increasing profits effectively.
These solutions also provide numerous benefits, such as effective management, scalability, cost-effectiveness, flexibility, easy maintenance of image data generated, and agility.
Cloud-based solutions also help many organizations to initiate their cross-country, cross-regional, or regional data recovery strategies. This further allows them to quickly recover confidential data in case of disasters.
The adoption of state-of-the-art technologies in the energy sector is not a cost-effective option. At the same time, finding a reliable software service provider, customizing, monitoring, managing, creating, and adjusting these software solutions requires more resources and time.
To incorporate energy intelligence solutions in the industry, companies are anticipated to accept the risks that come with replacing their conventional systems, as well as allocate a good amount of funds.
Developing countries may not often have the monetary assistance to install smart solutions in the energy and utility industry, which is likely to hamper the demand for energy intelligence solutions in the assessment period.
North America is expected to procure the highest energy intelligence solution market share in the forthcoming years.
This growth is attributable to the increasing investments by governments of the USA and Canada in the rapid development of numerous technologies that are to be deployed in the energy and utilities sector.
Tigo Energy, a California-based energy solution manufacturer, will be attending the ENEX New Energy in Poland. Company officials will showcase the TS4-A-O optimizer and its range of TS4 Flex MLPE devices.
These are compatible with PV modules. TS4-A-2F is considered to be the company’s most affordable shutdown solution for utility and commercial-scale PV installations.
The company is also set to exhibit its most powerful solar fleet management and monitoring solution named the Tigo Energy Intelligence (EI) software platform. The development of similar other products in the USA is projected to augur well for the North America market.
The increasing demand for energy intelligence solutions in numerous industries, such as telecommunication and manufacturing for controlling emissions of CO2 is expected to augur well for the Asia Pacific market.
These industries are striving to keep up with existing standards and legislations implemented by government bodies in China and India, which is likely to push the energy intelligence solution market share in Asia Pacific.
The rapid digitization and urbanization, as well as high energy consumption in this region is set to positively affect the growth.
Increasing investments in smart grid development, adoption of IoT devices, ongoing development of innovative metering infrastructure, and high internet penetration are also likely to create new growth opportunities for market players in Asia Pacific by 2032.
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Some of the leading players present in the global energy intelligence solution market include Intel Corporation, General Electric, Salesforce.com, Inc., TIBCO Software Inc., Eaton, SAS Institute, Inc., Microsoft, Oracle, Atos SE, IBM, Siemens, Google LLC, Amazon Web Services, Inc., Copyright Microstrategy Incorporated, SAP, Teradata, Cisco, Alteryx, Schneider Electric, and Open Text Corporation.
Majority of the key players operating in the global market are striving to provide innovative cloud computing services in the form of web services.
They are developing new products to expand their existing portfolios in various segments, such as management tools, compute, storage, migration, media services, and database. Meanwhile, a few other companies are focusing on delivering customized solutions associated with the energy and utilities sector to strengthen their positions.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 15.2% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Service Type, Deployment Model, Industry Vertical, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Intel Corporation; General Electric; Salesforce.com, Inc.; TIBCO Software Inc.; Eaton; SAS Institute, Inc.; Microsoft; Oracle; Atos SE; IBM; Siemens; Google LLC; Amazon Web Services, Inc.; Copyright Microstrategy Incorporated; SAP; Teradata; Cisco; Alteryx; Schneider Electric; Open Text Corporation |
| Customization | Available Upon Request |
FMI estimates that the global energy intelligence solution market is likely to showcase growth at a CAGR of 15.2% by 2032.
North America is expected to lead the energy intelligence solution market in terms of share.
Intel Corporation, General Electric, Salesforce.com, Inc., TIBCO Software Inc., Eaton, SAS Institute, Inc., Microsoft, and Oracle are some of the renowned energy intelligence solution providers.
| Market Valuation (2023) | USD 22.8 billion |
|---|---|
| Market Valuation (2033) | USD 46.8 billion |
| Market CAGR (2023 to 2033) | 7.4% |
| Market Share (2023) | USD 28,216.8 million |
|---|---|
| Market Share (2033) | USD 56,200.9 million |
| Market CAGR (2023 to 2033) | 7.1% |
| Estimated Market Value (2017) | USD 11.7 Billion |
|---|---|
| Projected Market Revenue (2027) | USD 516.2 Billion |
| Value-based Market CAGR (2017 to 2027) | 46.1% |
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