Smart Grid Data Analytics Market

Introduction of Smart Grid Data Analytics Market Report

A smart grid refers to the complete energy infrastructure embedding transformers, substations, fusion transmission, and the future, directing its energy to different households. This is used to enable the digital transmission of information from one point to another while offering information more intelligently to different companies and households. The leading energy companies are using smart grid analytics to measure different variables such as the amount of energy distributed from the smart network triggers.

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The smart grid data analytics market is projected to witness strong demand during the forecast period. This is mainly due to the overflow of customer-centric and grid operation-centric data through several sources such as the Advanced Metering Infrastructure (AMI) or the smart meters, intelligence/learning sensors, and Supervisory Control and Data Acquisition (SCADA) systems. Moreover, the deployment of smart metering infrastructure is giving an increase to the volume of data generation and the strong demand for consumer engagement are further surging the growth of the market in the coming years. The increasing number of cloud based solutions/ Software-as-a-Service (SaaS) solutions, along with the high demand for system integrators are opening new doors for the growth of the market. In addition, the ever-increasing demand for electricity is opening new doors for the growth of the market in the coming years.

The increasing installation of the smart meter and Advanced Metering Infrastructure (AMI) is another factor that is surging the demand of the market. The AMI offers several operational benefits to eliminate the utility cost and provide convenience to the customers. The continually evolving government framework and policies have been increasing the rate of installation, especially in the residential, commercial, and industrial sectors. Major economies such as China and U.S., have experienced high-scale deployment of smart meters, due to the continuous support from the respective government authorities. On the other hand, the lack of skilled workforce and restricted data regulations and standards are the two major factors that are likely to hamper the growth of the market in the next six years.

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Based on the component, the solution segment is projected to grow at a higher CAGR during the forecast period. The solution segment is further categorized into AMI analytics, demand response analytics, grid optimization, asset management, and others. The significant factors contributing to the growth of the segment include the increasing deployment of AMI analytics solutions to capture the growing application of AMI deployment, operations, revenue protection, operations, and other applications. The AMI analytics for grid optimization applies to grid operations, voltage, and VAR optimization, outage management, and others.

On the basis of end user, the large enterprise segment is expected to grow at a faster CAGR in the next six years. This is attributed to the growing need for collecting and analyzing data to enhance service quality, particularly in large companies. The smart grid produces a large amount of data and the analytics platform analyses the data to generate invaluable insights that will offer various advantages such as cost reduction and operation efficiency.

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Based on the region, North America region is anticipated to dominate the market during the forecast period. This is mainly due to the growing awareness related to the various advantages offered by big data analytics among the businesses running in the utility sector, especially the smart grid. Moreover, the rising awareness level is encouraging the smart grid enterprises to deploy comprehensive big data analytics solutions for their grid assets, operations, and functions. On the other edge, the Asia-Pacific region is expected to grow at a higher CAGR during the forecast period. This is due to the increasing population, especially in India, China, and Japan, which has surged the demand for residential infrastructure and electricity consumption. Moreover, the emergence of smart cities is projected to add to the region’s competencies in the market. Thailand has the major utilities to use data from smart grids and smart meters to track and predict electricity outrages in the future. Hence, all these factors are energizing the growth of the market in this region.

Various notable players operating in the market, include Hansen Technologies, Capgemini, HP Development Company, L.P., IBM, Oracle, SAP SE, SAS Institute, Inc., Siemens AG, Dell Technologies, and Amdocs Optima, among others.

the global smart grid data analytics market has been segmented on the basis of component, deployment model, end-users and regions. Based on component, the market is segmented into solution and services. The solution segment is further sub segmented into AMI analytics, demand response analytics, grid optimization, asset management, and others. The services segment is further sub segmented into professional and managed. Based on deployment model, the market is segmented into on-premises, cloud-based, and hybrid. Based on end-user, the market is segmented into small/ medium enterprises, large enterprises, and public sector. 

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Key questions answered in this research report:

• • At what pace is global Smart Grid Data Analytics market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Smart Grid Data Analytics market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Smart Grid Data Analytics market?
  • Which Component generated maximum revenues in 2019 and identify the most promising solutions during the forecast period?
  • What are the various end-user areas of global Smart Grid Data Analytics market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Smart Grid Data Analytics market by Component

• • Solution
    • AMI Analytics
    • Demand Response Analytics
    • Grid Optimization
    • Asset Management
    • Others
  • Services
    • Professional
    • Managed

Global Smart Grid Data Analytics market by Deployment Model

• • On-premises
  • Cloud-based
  • Hybrid

Global Smart Grid Data Analytics market by End-User

• • Small/ Medium Enterprises
  • Large Enterprises
  • Public Sector

Global Smart Grid Data Analytics market by Region

• • North America Smart Grid Data Analytics market (Option 1: As a part of the free 25% customization)
    • North America Market by Component
    • North America Market by Deployment Model
    • North America Market by End-User
    • US Market All-Up
    • Canada Market All-Up
  • Europe Smart Grid Data Analytics market (Option 2: As a part of the free 25% customization)
    • Europe Market by Component
    • Europe Market by Deployment Model
    • Europe Market by End-User
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Smart Grid Data Analytics market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Component
    • Asia-Pacific Market by Deployment Model
    • Asia-Pacific Market by End-User
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Smart Grid Data Analytic Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Component
    • RoW Market by Deployment Model
    • RoW Market by End-User
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Smart Grid Data Analytics Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Hansen Technologies
  • Capgemini
  • HP Development Company, L.P.
  • IBM
  • Oracle
  • SAP SE
  • SAS Institute, Inc.
  • Siemens AG
  • Dell Technologies
  • Amdocs Optima