Increase In Demand Analysis: The Global Smart Grid Data Analytics Market Size is projected to reach 14,035.2 Million USD by 2027, growing at a CAGR of 11.30% During 2021-2027. In this study, 2020 has been considered as the base year and 2021 to 2027 as the forecast period to estimate the market size for Smart Grid Data Analytics.
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Smart grid data analytics are solutions used to analyze the large amount of data generated from the smart grid systems. These solutions are deployed with an intention to gain better predictive analysis of consumer behavior and grid conditions, thereby optimizing grid efficiency. Smart grid analytics solutions are deployed at the grid owners’ end in order to establish a better decision support system. The solutions are developed to analyze the data generated from different smart grid components, such as smart meters, smart appliances, automated distribution systems, and other sensing equipment. The data collected is transferred using two-communication network of the grid for further predictive analysis.
In this report, we analyze the challenges end-users face in acquiring the right smart grid data analytics that can cope with the rapidly changing world. The report also highlights the total revenue generated through the sale of smart grid data analytics across various key regions worldwide.
According to the report, North America was a significant contributor to the smart grid data analytics market in terms of revenue in 2019. The prominent market share of the region is due to the significant adoption of smart grid data analytics, and increasing adoption of smart grid systems in the U.S. The smart grid data analytics market in Asia Pacific is expected to expand at a high CAGR during the forecast period. This is primarily due to the increasing digitalization of the utility sector in the region.
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Advanced metering infrastructure (AMI) is an integrated system which includes smart meters, communication networks, and data management systems that provide a two-way digital link between the customer and utilities. AMI provides various operational benefits to minimize the utility cost and offers convenience to the customer. AMI significantly reduces operating costs by remotely reading meters, connecting/disconnecting the service, identifying outages by generating more accurate bills faster, and enables utilities to provide customers digital access to their usage information. Thus, the increasing installation of smart meter and adoption of advanced metering infrastructure is expected to boost the global smart grid data analytics market during the forecast period globally.
COVID-19 Impact on Smart Grid Data Analytics Sales
- Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Smart Grid Data Analytics market.
- Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.
- Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.
- Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Smart Grid Data Analytics market 2021 onwards. This trend will however continue through the course of the report’s assessment period
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Recent report on the Smart Grid Data Analytics market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the Smart Grid Data Analytics market analyzes the scenario for the period of 2017 to 2027, wherein, 2021 is the base year and 2020 is historical data. This report enables readers to make important decisions with regard to their business, with the help of a wealth of Information enclosed in the study. The report also provides the compound annual growth rate (CAGR) of the global Smart Grid Data Analytics market for the forecast period of 2021–2027. This data can help readers interpret quantitative growth aspects of the global market during the forecast period. It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global market across the globe.
The report analyzes the historical and present-day scenario of the global Smart Grid Data Analytics market to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the global market in order to identify opportunities for stakeholders.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments in the scope of the study. Moreover, the report sheds light on the changing competitive dynamics in the Smart Grid Data Analytics market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the market.
The report delves into the competition landscape of the global Smart Grid Data Analytics market. Key players operating in the market have been identified and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the Smart Grid Data Analytics market that are profiled in this report.
Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments are provided in the report. The Smart Grid Data Analytics market is analyzed at both regional and country levels.
Major Players Covered in this Report
The updated market research report on Smart Grid Data Analytics market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.
Significant Market Participants Operational in the Smart Grid Data Analytics Market are:
The report include ABB Ltd., Accenture Plc, Amdocs Ltd., AutoGrid Systems Inc., Capgemini SE, Dell EMC, General Electric, Hansen Technologies, Hewlett-Packard Development Company, L.P., Hitachi Ltd., IBM Corporation, Itron Inc., NetCracker Technology Corporation, Oracle Corporation, SAP SE, SAS Institute, Inc., Schneider Electric SE, Siemens AG, Tata Consultancy Services Ltd., and ZTEsoft Technology Co., Ltd.
The report is divided into major categories comprising product, application, regions and others. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Every segment is studied thoroughly in order to offer a better picture to the buyers and stakeholders to benefit from. Information like highest prevailing product, highly demanded product by the application segment and end users are rightly mentioned in the Smart Grid Data Analytics report.
Transmission and Distribution (T&D) Network
Advanced Metering Infrastructure Analysis
Demand Response Analysis
Grid Optimization Analysis
By End-user Vertical
Private Sector (SMEs and Large Enterprises)
In terms of region, the global smart grid data analytics market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to dominate the smart grid data analytics market during the forecast period. The U.S. is expected to lead the North America smart grid data analytics market. This is mainly due to the high degree of investment on smart grid systems in the country. Apart from the AMI analytics solutions, the penetration of demand response analytics solutions is expected to fuel significantly during the forecast period in the U.S. The smart grid data analytics market in Asia Pacific is expected to expand at a high CAGR during the forecast period due to the active presence of smart meter deployment programs in China, Australia, India, and South Korea. Most smart grid analytics vendors focus on providing data analytics solutions for the ongoing development of smart meters infrastructure. The market in Middle East & Africa and South America is also projected to expand moderately over the forecast period.
The report provides in-depth segment analysis of the global smart grid data analytics market, thereby providing valuable insights at macro as well as micro levels. In-depth geographic analysis has also been included as part of the smart grid data analytics market.
A unique research methodology has been utilized to conduct a comprehensive research on the growth of the global Smart Grid Data Analytics market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions. Secondary sources referred to by analysts during the production of the global market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of our study on the market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from mattress topper industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global Smart Grid Data Analytics market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped to estimates the future prospects of the global market more reliable and accurate.
Key Questions are
- What are the key factors influencing the Smart Grid Data Analytics market in each region?
- How much value will the global market generate by the end of the forecast period?
- What will be the CAGR of the global market between 2021 and 2027?
- What would be the Y-o-Y growth trend of the global market between 2021 and 2027?
- What is the future scope and current trends in technologies of the global market?
- What is the revenue of the global market based on segments?
- Which key strategies are used by top players of the global market?
- Which are the leading companies in the global market?
- What are the essential strategies by key stakeholders in the market to expand their geographic presence?
- What are the major advancements witnessed in the global market?
Why should you invest in this report?
If you are aiming to enter the global Smart Grid Data Analytics market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Smart Grid Data Analytics are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
TABLE OF CONTENT
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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