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Global Smart Grid Data Analytics Market to Rise at 4.20% CAGR between 2020 and 2027

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Global Smart Grid Data Analytics Market to Rise at 4.20% CAGR between 2020 and 2027

October 21
15:32 2020
Global Smart Grid Data Analytics Market to Rise at 4.20% CAGR between 2020 and 2027
GLOBAL SMART GRID DATA ANALYTICS MARKET SIZE STUDY, BY DEPLOYMENT (CLOUD-BASED AND ON-PREMISES), BY SOLUTION (TRANSMISSION AND DISTRIBUTION (T&D) NETWORK, METERING AND CUSTOMER ANALYTICS), BY APPLICATION (ADVANCED METERING INFRASTRUCTURE ANALYSIS, DEMAND RESPONSE ANALYSIS, GRID OPTIMIZATION ANALYSIS), BY END-USERS (PRIVATE SECTOR (SMES AND LARGE ENTERPRISES) AND PUBLIC SECTOR) AND REGIONAL FORECASTS 2020-2027

A new report on the global smart grid data analytics market has been published by Report Ocean and is titled “Global Smart Grid Data Analytics Market Size study, by Deployment (Cloud-based and On-premises), By Solution (Transmission and Distribution (T&D) Network, Metering and Customer Analytics), By Application (Advanced Metering Infrastructure Analysis, Demand Response Analysis, Grid Optimization Analysis), By End Users (Private Sector (SMEs and Large Enterprises) and Public Sector) and Regional Forecasts 2020-2027.”

 GET SAMPLE COPY @ https://www.reportocean.com/industry-verticals/sample-request?report_id=bw1481

A new report on the global smart grid data analytics market has been published by Report Ocean and is titled “Global Smart Grid Data Analytics Market Size study, by Deployment (Cloud-based and On-premises), By Solution (Transmission and Distribution (T&D) Network, Metering and Customer Analytics), By Application (Advanced Metering Infrastructure Analysis, Demand Response Analysis, Grid Optimization Analysis), By End Users (Private Sector (SMEs and Large Enterprises) and Public Sector) and Regional Forecasts 2020-2027.”

According to the report, the global smart grid data analytics market stood at approximately US$1.5 bn in 2019. The market is expected to rise at a CAGR of more than 4.20% between 2020 and 2027.

Predominantly, the worldwide market for smart grid data analytics is driven by the increasing demand from consumers for the cost-efficient power supply and minimized cost of electricity production by utilizing smart grid data analytics. The unique properties of smart grid data analytics are likely to add to its demand in the near future. However, the high cost incurred in setting up smart grid systems and the dearth of skilled manpower may limit the growth of this market over the next few years, states the research study.

With the advent of several advanced technology, such as IoT and big data, key market players have begun to focus on integrating these technologies into smart grid solutions. As the trend of data production has continuously been in upward direction, companies in the power utility sector have begun to combine big data with additional IoT and smart sensor data. This has fetched ample investments in the global smart grid data analytics market and it is likely to continue even in the coming years. The augmenting investments in the digital electrical infrastructure and the smart grid infrastructure will also add substantially to the market’s growth in the years to come, reports the study.

The regional analysis of the global smart grid data analytics market has also been provided in this research report. Asia Pacific, North America, Europe, Latin America and the Rest of the World have been considered as the key regional markets for smart grid data analytics in this report. North America is leading the global market due to the increasing uptake of smart grid technologies and efficient use of power in this region. Asia Pacific is also expected to register high growth over the period of the forecast.

Impact of Covid 19 on Global Smart Grid Data Analytics Market

The impact of Covid 19 pandemic on the global smart grid data analytics market has not be so severe. However the lockdown and economic crisis affected the market to some extent. As of now, this market is in its budding stage and investments are its key driving force. Since investors have lost quite a lot of money during the last few months, they are hesitant in putting more, which is obstructing the growth of this market currently.

Key Findings:

  • North America is leading the global market due to the increasing uptake of smart grid technologies.
  • Asia Pacific is also expected to register high growth over the period of the forecast.

The global smart grid data analytics market is classified into:

By Deployment

  • Cloud-based
  • On-premises

By Solution

  • Transmission and Distribution (T&D) Network
  • Metering
  • Customer Analytics 

By Application

  • Advanced Metering Infrastructure Analysis
  • Demand Response Analysis
  • Grid Optimization Analysis

By End User

  • Private Sector (SMEs and Large Enterprises)
  • Public Sector

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Rest of the World

Companies Mentioned in the Report

  • Siemens AG
  • Itron Inc.
  • AutoGrid Systems Inc.
  • General Electric Co.
  • IBM Corp.
  • SAP SE
  • Tantalus System Corp.
  • SAS Institute Inc.
  • Hitachi Ltd.
  • Uplight Inc.

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