Market Research Report
Utility Analytics - Use Cases, Platforms and Services: Global Market Analysis and Forecasts
|Published by||Navigant Research||Product code||364585|
|Published||Content info||57 Pages; 48 Tables, Charts & Figures
Delivery time: 1-2 business days
|Utility Analytics - Use Cases, Platforms and Services: Global Market Analysis and Forecasts|
|Published: July 27, 2016||Content info: 57 Pages; 48 Tables, Charts & Figures||
Never before have power utilities needed such a comprehensive, holistic strategy for advanced analytics as they do today. In some form, utilities have used analytics for as long as-or longer than-computers. But today's utility is faced with a confluence of factors that makes the need more urgent and the task more complicated than ever. Long established grid equipment vendors and a plethora of new startups have developed big data analytics solutions that integrate data from a rapidly growing number of connected devices on the grid and turn it into actionable intelligence.
From meters to automated substations and intelligent electronic devices along feeders, smart equipment is sending an exponentially growing amount of data back to network operations centers worldwide. Yet, to date, most utilities have taken a one-off, project-based approach to analytics, with decision-making, data storage, and procurement often taking place within siloed departments. Numerous inefficiencies and restrictions can result due to lack of knowledge and access to data. Utilities have recognized this problem and-given the growing challenges faced by the industry-are working proactively to expand their analytics strategy to the entire enterprise. According to Navigant Research, global utility analytics revenue is expected to grow from $944.8 million in 2016 to $3.6 billion in 2025.
This Navigant Research report analyzes the global market for utility analytics platforms and services and describes the various use cases for which solutions are being developed and deployed. The study discusses significant market drivers and challenges in the market for utility analytics. Global market forecasts that include four segments of analytics broken down into four spending components extend through 2025. The report also provides in-depth profiles of key vendors in the utility analytics market and examines several utility deployment case studies.