The global smart grid data analytics market size reached US$ 2.5 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 5.8 Billion by 2032, exhibiting a growth rate (CAGR) of 9.8% during 2023-2032.
Smart grid data analytics refer to systematic computational solutions used to analyze large amounts of data produced from smart grid systems. They collect valuable information generated by the equipment and help in predicting the load for the future. They consist of forecasting, predictive, prescriptive analytics and optimization. Smart grid data analytics are widely used in demand response, grid optimization and advanced metering infrastructure analysis. They aid in improving grid reliability, efficient energy transmission, and security, lowering management costs, and delivering personalized energy services to consumers and better integration of renewable energy. These solutions are deployed to gain predictive analysis, establish better decision support systems and optimize grid efficiency.
2. What is the expected growth rate of the global smart grid data analytics market during 2024-2032?
3. What has been the impact of COVID-19 on the global smart grid data analytics market?
4. What are the key factors driving the global smart grid data analytics market?
5. What is the breakup of the global smart grid data analytics market based on the solution?
6. What is the breakup of the global smart grid data analytics market based on the deployment?
7. What is the breakup of the global smart grid data analytics market based on the end-use vertical?
8. What are the key regions in the global smart grid data analytics market?
9. Who are the key players/companies in the global smart grid data analytics market?
Smart grid data analytics refer to systematic computational solutions used to analyze large amounts of data produced from smart grid systems. They collect valuable information generated by the equipment and help in predicting the load for the future. They consist of forecasting, predictive, prescriptive analytics and optimization. Smart grid data analytics are widely used in demand response, grid optimization and advanced metering infrastructure analysis. They aid in improving grid reliability, efficient energy transmission, and security, lowering management costs, and delivering personalized energy services to consumers and better integration of renewable energy. These solutions are deployed to gain predictive analysis, establish better decision support systems and optimize grid efficiency.
Smart Grid Data Analytics Market Trends:
The increasing product demand by utility service providers across the globe is creating a positive outlook for the market growth. Smart grid data analytics are set up at the end of utility providers to help them in analyzing load behavior, optimizing grid operations, decreasing power cuts and making better decisions. In line with this, the widespread adoption of smart meters by consumers to manage their energy consumption is favoring the market growth. Apart from this, various technological advancements, such as the integration of the internet of things (IoT) that aid in reliable and efficient energy transmission and enhancing security, is providing an impetus to the market growth. Additionally, the introduction of advanced metering infrastructure (AMI) that reduces utility costs and offers convenience to the customer by remotely reading meters and generating more accurate bills faster is positively impacting the market growth. Other factors, including extensive research and development (R&D) activities, growing smart city developments and various government initiatives for the use of renewable sources of power generation, are anticipated to drive the market further toward growth.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global smart grid data analytics market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on solution, deployment, application and end use vertical.Breakup by Solution:
- Transmission and Distribution (T&D) Network
- Metering
- Customer Analytics
Breakup by Deployment:
- Cloud-based
- On-premises
Breakup by Application:
- Advanced Metering Infrastructure Analytics
- Demand Response Analysis
- Grid Optimization Analysis
- Others
Breakup by End Use Vertical:
- Private Sector (SMEs and Large Enterprises)
- Public Sector
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
- The competitive landscape of the industry has also been examined along with the profiles of the key players being Accenture plc, AutoGrid Systems Inc., General Electric Company, International Business Machines Corporation, Itron Inc., Landis+Gyr (Toshiba Corporation), SAP SE, SAS Institute Inc., Schneider Electric SE, Sensus USA Inc. (Xylem Inc.), Siemens AG and Tantalus System Corporation.
Key Questions Answered in This Report
1. What was the size of the global smart grid data analytics market in 2023?2. What is the expected growth rate of the global smart grid data analytics market during 2024-2032?
3. What has been the impact of COVID-19 on the global smart grid data analytics market?
4. What are the key factors driving the global smart grid data analytics market?
5. What is the breakup of the global smart grid data analytics market based on the solution?
6. What is the breakup of the global smart grid data analytics market based on the deployment?
7. What is the breakup of the global smart grid data analytics market based on the end-use vertical?
8. What are the key regions in the global smart grid data analytics market?
9. Who are the key players/companies in the global smart grid data analytics market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Smart Grid Data Analytics Market
6 Market Breakup by Solution
7 Market Breakup by Deployment
8 Market Breakup by Application
9 Market Breakup by End Use Vertical
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Accenture plc
- AutoGrid Systems Inc.
- General Electric Company
- International Business Machines Corporation
- Itron Inc.
- Landis+Gyr (Toshiba Corporation)
- SAP SE
- SAS Institute Inc.
- Schneider Electric SE
- Sensus USA Inc. (Xylem Inc.)
- Siemens AG and Tantalus System Corporation.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 147 |
| Published | March 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 2.5 Billion |
| Forecasted Market Value ( USD | $ 5.8 Billion |
| Compound Annual Growth Rate | 9.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
