Global 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:
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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