Renewable Energy & Analytics to Drive E&U Market
Date: Sunday , November 06, 2016
It\'s been 70 years of India\'s independence and a major chunk of this world\'s second largest populated nation still either has no access to power or experiences power cuts and shortages. However, the energy demand in agriculture, industrial, commercial and household sectors has increased tremendously placing enormous pressure on its resources. On the other hand, the energy generated is wasted at all levels - from generation to consumption - thus putting additional pressure on the optimum use of resources, which in turn require proper energy planning to achieve energy security.
This picture is not much different when it comes to water. With Kolkata leading the pack, Bangalore comes second with 50 percent wastage. Other names that made to the list are Hyderabad with 40 percent wastage and Indore wasting around 123 million liters of water. To counter the leakages, usage and check on the assets that need replacement, analytics and big data will play a major role in the E&U sector. MarketsandMarkets predict that the E&U analytics market will grow from $1.81 billion in 2016 to $3.41 billion by 2021, at a CAGR of 13.5 percent.
To sustain growth, leaders across energy & utilities are prioritizing four imperatives - transform the utility network, improve generation performance, continually improve operational excellence and transform customer operations. Using big data and analytics, E&U is turning knowledge into power to better understand and shape customer usage, improve service levels and availability, and detect and prevent energy theft through the usage of smart metering. But the unfamiliar landscape has pushed the E&U companies to integrate alternative energies, expand situational awareness across the system and deepen their relation with customers. Hence organizations that want to expand their business are adopting analytics to increase agility and responsiveness, reduce operational costs and improve asset reliability, and create a win-win situation for both suppliers and consumers.
Understanding the need of the hour, we at siliconindia has listed \'20 Most Promising Energy & Utilities Solution Provider\' who have played key roles in bridging the gap persistent in the sector. Hope this list edifies the purpose it is built for.