Acquisition of EnergySavvy by Tendril to round out its energy management offerings and develop a single-solution suite for utilities which will propel the global Energy & Utility Analytics Market in future timeline
Global: Tendril, the leading provider of AI-powered utility customer experience and DSM solutions, announced that it has entered into a definitive agreement to acquire EnergySavvy, the leader in personalized utility customer engagement. With this acquisition, Tendril’s expanded platform now delivers proven solutions for the full range of C-level, residential customer experience challenges: reducing service costs, increasing satisfaction, and executing strategic initiatives, such as serving low-income households and supporting TOU rates. Tendril's acquisitions are allowing it to beef up its customer engagement and load monitoring capabilities at a time when both of those have captured utilities' focus. EnergySavvy develops both customer-facing and internal systems, which Tendril will now merge with its advanced energy analytics, Home Energy Management product, behavioral engagement systems and other capabilities. The purchase of EEme allowed Tendril to add nonintrusive load monitoring and disaggregation capabilities to its data analytics platform. EnergySavvy works with more than 30 utilities and its offerings have helped companies reduce call volumes while increasing program enrollment rates, customer trust scores and other metrics.
According to BlueWeave Consulting, Increasing living standards and a rapidly growing global population are key factors propelling the Energy & Utility analytics market. Energy and Utilities analytics is the implementation of technology to analyze and provide resourceful insights using the data collected. Energy and Utilities analytics are used by companies to track the power consumption of their consumers using technology. The introduction of smart meters and smart grids have enabled energy and utilities providers to allocate services efficiently and minimize costs.
Smart meters and smart energy grids have revolutionized the ways information is collected and utilized. Using these devices data such as utility consumption of water, electricity and waste & recyclables, the peak hours of usage, power shortages and fluctuations, and interactive services are collected and transferred. Further, through smart grid its solution to monitor all meter events and correlate with customer-specific predicted energy consumption profiles to detect fraud patterns. Increasing demand for energy, need for greener environment and increasing demand from the consumer side to know their energy consumption patter will fuel the global Energy & Utility Analytics Market in coming years.
to BlueWeave Consulting‘s upcoming report, Titled-“Global Energy and Utility Analytics Market by Type
(Software and Service), Application (Predictive Maintenance, Load Research
& Forecasting, Transmission & Distribution Management), By End-User
Industry (Energy, Oil & Gas and Utilities) and By Region, Size and Forecast
2015- 2025”- Global Energy and Utility Analytics Market is
expected with grow with a significant rate in forecast period, 2019-2025, due
to dynamic forecasting and load management, operational efficiency and risk
mitigation, increasing government initiatives
for advanced metering infrastructure and predictive analytics for
businesses. In addition, globally evolving living standards amid the rapidly
expanding population worldwide are expected to increase energy usage and
dependency on energy and utility resources which will influence the global
energy & utility Analytics market in future timeframe.