Smart Grid Data Analytics Market 2017 - Industry Growth, Analysis, and Forecast To 2022 – by Credence Research
According to a new market research report published by
Credence Research “Smart Grid Data Analytics Market (AMI
Analytics, Demand Response, Asset Management, Grid Optimization and Others
(Energy Data Forecasting, Visualization Tools etc.) - Growth, Share,
Opportunities, Competitive Analysis, and Forecast 2015 - 2022” the global smart
grid data analytics market was valued at US$ 1,453.9 Mn in 2014 and is
estimated to expand with a CAGR of 15.9% from 2015 to 2022.
Browse the full report at http://www.credenceresearch.com/report/smart-grid-data-analytics-market
Market Insights
Smart grid data analytics refer to a
subset of Big Data analytics solutions used for analyzing the huge volumes of
data generated from the smart grid network. These solutions are designed to
analyze various parameters such as consumer behavior, energy consumption
patterns, health of the grid components and others. The primary consumers for
smart grid data analytics solutions are the utility service providers. These
solutions are set up at the end of utility providers in order to help taking
better decisions for optimizing the grid operations. With rising consumption of
electricity coupled with the challenges in its generation, grid owners are
expected to increasingly shift towards smart grids in the near future. This is
expected to substantially spur the smart grid data analytics market growth in
the coming years.
The market for smart grid data
analytics solutions is largely driven by the smart grid systems penetration worldwide.
Thus, increasing investment in the smart grid sector is expected to
substantially fuel the demand for smart grid data analytics solutions in the
coming years. Currently, the U.S. and China are among the leading countries, in
terms of investment in the smart grids sector. Thus, these countries are
currently the prime markets for smart grid data analytics solutions.
Competitive Insights:
The global smart grid data analytics
market is fragmented and highly competitive in nature with large number of existing
as well as emerging players in the industry. Most of the companies operating in
the market are software giants making the market technology driven. Due to its
anticipated high growth in the coming years, more companies are expected to
enter the market in the near future. Currently, majority of the software
vendors are turning towards partnerships and joint ventures with different
players operating in the relative markets. One of the most significant
instances is the OMNETRIC Group, a joint venture for smart grid data analytics
solutions between Siemens AG and Accenture Plc.
Key Trends:
·
Development of AMI analytics
solutions due to growing adoption of smart meter infrastructure worldwide
·
Expansion through partnerships, joint
ventures and acquisition
·
Emergence of considerable number of
start-ups in the industry
·
Emphasis on cloud-based analytics
solutions
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