A recent business intelligence study available at the repository of MarketResearchReports.biz, the global smart grid data analytics market will be worth US$4.6 billion by the end of 2022, with the demand expanding at a formidable CAGR of 13.4% during the forecast period of 2015 to 2022.
Albany, NY -- (SBWIRE) -- 06/14/2018 -- Energy is paramount for humanity, particularly in the emerging economies wherein infrastructural development is on a radical rise. While the world has emphasized on devising new modes of energy generation, such as renewables, it is also important to conserve or smartly use the existing resources. This is where smart grids are gaining demand. Utilizing digital communication technologies to identify and react according to the chances in usage, smart grids can increase efficiencies by the means of producing and analyzing data.
This report, titled "Smart Grid data Analytics (AMI Analytics, Demand Response, Grid Optimization, Asset Management and Others) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022," is a result of rigorous research by the analyst using industry standard methodologies, which included primary and secondary assessments, compilation of data from reliable sources, and interviews with industry experts. The report has been developed to aid as a business tool for a pool of clientele including smart grid technology solution providers, system integrators and migration service providers, network service providers, smart cities stockholders, governments and urban energy planning agencies, and venture capitalists.
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The report includes chapters that segments the market for smart grid data analysts into smaller segments on the basis of solution type, services, deployment model, and end-users as well as throws light on the magnitude of demand that can be expected out of different regions and countries. Figurative data for each of the segments and regions has been provided in terms of US dollar million. The report also analyzes different factors such as drivers, restraints, and challenges that will determine the future of the market as well as identifies some of the trends that are emerging.
Some of the key factors expected to augmenting the demand in the smart grid data analytics market are: improved reliabilities and efficiencies of the grids, increasing demand for integration of renewable energy sources, government initiatives to mandates and efforts to promote the usage of smart meters, and increasing awareness regarding carbon footprint management. On the other hand, requirement of substantial investment, lack of standards and interoperability, cybersecurity and vulnerabilities, inadequate data management, and lack of motivation among electric utilities are a few restraints curtailing the progress of the market.
The analyst of the report has identified Siemens AG, Accenture Plc., Oracle Corporation, IBM Corporation, SAS Institute Inc., Capgemini SA, EMC Corporation, EMC Corporation, SAP SE, and Hewlett Packard (HP) Development Company L.P. are some of the key players currently holding prominent position in the global smart grid data analytics market.
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