Smart Grid Analytics Market: Summary
The Global Smart Grid Analytics Market is projected to reach a value of over USD 13.7 billion by 2027 at a CAGR of around 17.6%.
The smart grid is refers to a new technology, which helps the system to function effectively as well as it provides an optimized solution to the systems. Also, it is an energy infrastructure of the future, transformers and substations which helps in direct the energy to households with technology such as computers, automated technology and other new equipment. However, it provides efficient energy transmission, enhance security, operations costs, and reduce management costs and better integration of renewable energy. The Smart grid is also known as the next-generation power supply network.
Hence, it also helps the electricity producers to improve its reliability, availability, and efficiency. These may lead to increase the demand for the market growth.
Smart Grid Analytics Market: Drivers & Restraints
- Increasing Advancement in Smart Grid and Advanced Metering Infrastructure (AMI)
With the increasing advancement in smart grid and Advanced Metering Infrastructure (AMI) is witness to boost the growth of the market in the forecast period. Whereas, the advanced metering infrastructure (AMI) help to provide several operational benefits such as reduce the utility cost and offers convenience to the user. According to the International Energy Agency, the world electricity demand is projected to grow more than 70% by 2040. Also, the expansion, improvement and decentralization of the electricity infrastructure for enhance the flexibility are being projected investments from the organizations.
Hence, many projects has been taken across the Indian subcontinent, for reducing issues faced by the population regarding electricity. Moreover, the growing installation of smart meter as well as the adoption of advanced metering platform is anticipate to boost the global smart grid data analytics market in the forecast period.
One of the major key concern of the smart grid analytics market is high costs of smart grid which may restraining factor for the growth of the market. Whereas, one of the most limitation factor in the smart metering is the fund availability. Also, it’s much more expensive as compare to the regular metering equipment. Moreover, the various smart meters is been made by different parameters, depend upon the requirements and demand of the consumers. Hence, for these kind of installation and functioning, the market required a high skilled professional to handle all the features and techniques.
Hence, it is anticipate that high costs of smart grid as well as the shortage of skilled professional may lead to restraint the growth of the smart grid analytics market in the forecast period.
Smart Grid Analytics Market: Key Segments
- Segmentation based on Deployment Mode: Cloud-Based and On-Premise.
- Segmentation based on Solution: AMI Analytics, Customer Analytics, Asset Management, Grid Optimization, Transmission and Distribution (T&D) Network, Metering, Energy Data Forecasting and Visualization Tool.
- Segmentation based on Services: Professional Services and Support and Maintenance Services.
- Segmentation based on Application: Demand Response Analysis, Grid Optimization Analysis and Advanced Metering Infrastructure Analysis.
- Segmentation based on Enterprises Size: Small & Medium-Sized Enterprises (SMEs) and Large Enterprise.
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.
Smart Grid Analytics Market: Report Scope
The report on the smart grid analytics market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021-2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million)
Deployment Mode, Solution, Services, Application, Enterprises size and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- ABB Ltd. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Accenture Plc
- Amdocs Ltd.,
- Itron Inc.
- AutoGrid Systems, Inc.
- Capgemini SE
- General Electric
- Hewlett-Packard Development Company, L.P
- Dell Inc.
- Hansen Technologies
- Other Key Companies
- IBM Corporation
- Hitachi, Ltd.
- Oracle Corporation
- SAP SE
- Schneider Electric
Smart Grid Analytics Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Smart Grid Analytics Market, by Deployment Mode
Smart Grid Analytics Market, by Solution
- AMI Analytics
- Customer Analytics
- Asset Management
- Grid Optimization
- Transmission and Distribution (T&D) Network
- Energy Data Forecasting
- Visualization Tool
Smart Grid Analytics Market, by Services
- Professional Services
- Support and Maintenance Services
Smart Grid Analytics Market, by Application
- Demand Response Analysis
- Grid Optimization Analysis
- Advanced Metering Infrastructure Analysis
Smart Grid Analytics Market, by Enterprises Size
- Small & Medium-Sized Enterprises (SMEs)
- Large Enterprise
Smart Grid Analytics Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Smart Grid Analytics Market Providers
- Smart Grid Analytics Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Smart Grid Analytics Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE SMART GRID ANALYTICS MARKET STUDY