Fr. Feb 23rd, 2024

The Market Statsville Group (MSGpublishes the new report on the Smart Grid Data Analytics Market by Deployment (Cloudbased and Onpremise), by Solution (Transmission and Distribution (T&DNetwork, Metering, and Customer Analytics), by Application (Advanced Metering Infrastructure Analysis, Demand Response Analysis, and Grid Optimization Analysis), by EndUsers (Private Sector and Public Sector), by Region – Global Share and Forecast to 2030.

The globalsmart grid data analytics market size is projected to grow at a CAGR of 12.7% and is estimated to reach USD 7,681.5 million by 2030 from USD 2,951.6 million in 2021In the electricity sector, the need to predict changes in power flow, make longterm investment decisions, and automated reporting for managing risks is causing an exponential increase in data generationIn the electricity sector, the need to predict changes in power flow, make longterm investment decisions, and automated reporting for managing risks is causing an exponential increase in data generationAdditionally, the trend of increased adoption of digitization systems in the energy sector has been boosting the rate of data generationThe sources of energy Big Data can be categorized into two groups, namely electric utility data and supplementary dataElectric utility data includes all enterprise data and the information that a utility can reveal from a smart gridSupplementary data refers to all other data sources beneficial for Big Data applications.

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Global Smart Grid Data Analytics Market Segmentation

The overall smart grid data analytics market has been segmented into deployment, solution, application, endusers, and region.

  • By Deployment (Cloudbased and Onpremise)
  • By Solution (Transmission and Distribution (T&DNetwork, Metering, and Customer Analytics)
  • By Application (Advanced Metering Infrastructure Analysis, Demand Response Analysis, and Grid Optimization Analysis)
  • By EndUsers (Private Sector and Public Sector)
  • By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

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Onpremise, by deployment, is estimated to hold the largest market share during the forecast period

Based on method, the global smart grid data analytics market is segregated as cloudbased and onpremiseOnpremise had the largest market in 2021. The onpremise deployment of analytic solutions for smart grids is anticipated to witness low adoption compared to the cloud over the forecast period, owing to the flexibility offered by the cloudMoreover, most of the IoT platform vendors are also offering cloudbased offerings.

Due to government regulations, the onpremise deployment of analytics solutions for smart grids has gained importanceMany organizations opt for onpremises solutions such as device management to match government requirementsWhile government data security and privacy regulations vary across regions, they are becoming more stringentCompanies operating under government regulations that currently require highlevel data security for various applications prefer onpremise than the cloudTheres a likelihood that rules may become more stringent or enforcement more robust in the future, which might enable the companies to store data in a private data center, thereby proving opportunities for the onpremise deployment

Access full Report Description, TOC, Table of Figure, Chart, etc: https://www.marketstatsville.com/table-of-content/smart-grid-data-analytics-market 

North America accounts for the largest market share in the smart grid data analytics market 2021

Based on the regions, the global smart grid data analytics market has been segmented across North America, AsiaPacific, Europe, South America, and the Middle East & AfricaIn 2021, North America accounted for the highest market share of 38in the global smart grid data analytics market and was anticipated to maintain its dominance throughout the forecast periodNorth America is one of the leading innovators and pioneers in the adoption of smart grids and analyticsThe demand in the region is mainly driven by a higher focus on innovations, through R&D and technological advancements, in the developed economies, like the United States and CanadaThe huge energy consumption rate in the region supports this growth.

Canada has also witnessed the largescale incorporation of smart electricity meters after a governmental mandate was introduced over five years ago, with the prime motive of reducing peaktime loadsDifferent peak and nonpeak time rates were added, with smart meters enabling realtime billingCanada is an active member of several International Energy Agency Technology collaboration programs in the renewable energy and enduse sectors, including the International Smart Grid Actions NetworkMoreover, researchers collaborate on R&D tasks to advance renewable energy and energy efficiency in the built environment and power systems.

Browse complete report: https://www.marketstatsville.com/smart-grid-data-analytics-market 

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the smart grid data analytics marketIt also consists of the profiles of leading companies such as General Electric Company, IBM Corporation, AutoGrid Systems Inc., Siemens AG, Itron Inc., SAP SE, SAS Institute Inc., Hitachi Ltd, Uplight Inc., Uptake Technologies Inc., Oracle Corporation, Amdocs Corporation, Schneider Electric SE, Tantalus System Corporation, Landis & Gyr Group AG, and Sensus USA Inc. (Xylem Inc.)These market players have focused on acquisitions and expansion to gain a larger market share in the smart grid data analytics market.

About Market Statsville Group

Market Statsville Group (MSG) is a business research and consulting platform of Statsville Consulting Private Limited, based in Oklahoma, USA. MSG is the leading market research and strategy builder with the depth and breadth of solutions that perfectly suit your every need. MSG provides solutions in a wide range of industry verticals in market sizing, analysis, and intelligent business insights. MSG has experienced research analysts who are proficient at digging deep and providing various customizable data that help you make decisions with clarity, confidence, and impact. Furthermore, Market Statsville Group already benefited more than 1,000 companies each year for their revenue planning. It helped them take their disruptions/innovations early to the market by providing them research ahead of the curve.

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