Utilities around the world are in the early stages of a transformation that will continue into the next decade. They are evaluating, planning, and implementing smart grid technologies and associated enterprise processes to modernize their operational and information systems by deploying advanced metering infrastructure (AMI) and other electronic communications technologies that enable the utility to monitor, analyze, and synchronize their networks to improve reliability, availability, and efficiency.
These functions result in an enormous volume of data - a data deluge - flowing into the utility at a high rate that must be analyzed and acted upon. The volume of data is expected to grow by several orders of magnitude over time. Utilities will have to solve data collection and storage challenges and learn how to analyze and act on new forms of information before they even get to the point of realizing real returns on their smart grid investments. Overall, the worldwide market for smart grid data analytics is expected to grow steadily through 2020, with cumulative worldwide spending from 2012 through 2020 totaling just over $34 billion. The bulk of this spending will occur in Asia Pacific, where annual investment will surpass $2.5 billion by 2020.
This Pike Research report analyzes the global market opportunity for smart grid data analytics across four key solution segments: meter analytics, grid analytics, asset analytics, and renewables integration for business intelligence, operations, and customer management. The report provides a comprehensive assessment of the demand drivers, business models, policy factors, and technology issues associated with the rapidly-developing market for smart grid data analytics. Key industry players are profiled in depth and worldwide revenue and capacity forecasts, segmented by application and region, extend through 2020.
Browse more Smart Grid Market Research Reports