Global Smart Grid Data Analytics Market 2020 (Includes Business Impact of COVID-19)

                                          
The global smart grid data analytics market report, generated by Trusted Business Insights, offers in-depth analysis and insights, global revenue and region-wise and country-wise revenue details, and other important information regarding the target market, and various ongoing key trends, driving factors, restraining factors, future opportunities, and internal and external threats impacting the global smart grid data analytics market till 2028. In addition, the report provides insightful information about various prominent market players, their financial overview, strategic plans such as mergers and acquisitions, joint ventures, addition of business segments, technological innovations, recent developments, future strategies, and market footprint. The global smart grid data analytics market report has been segmented on the basis of solution type, service type, deployment model, end user, and region & country.

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Overview:  Smart Grid Data Analytics

Smart grid data analytics can be referred to as data analysis of large volume of data obtained from smart grid networks. It can also be defined as sub-segment of big data analytics.  The smart grids consist of various components including automated power distribution systems, smart meters, smart appliances, and sensing equipment, among others in the grid network. Smart grid data analytics solution is considered as an efficient option to predict the power supply required to be transmitted in the future based on analysis. It can help in making decisions for short-term, and long-term forecasts and aid in minimizing wastage of energy.

Market 
Dynamics:

Key factors expected to drive growth of the global smart grid data analytics market is rising levels of investment in smart grid networks, coupled with ever-escalating demand for electricity across the globe. In addition, increasing adoption of smart grids and rising advancements in Internet-of-Things and big data analytics are some other factors expected to drive growth of the global smart grid data analytics market. Furthermore, growing awareness among consumers about the advantages of smart grid analytics and low cost for maintenance coupled with rising usage of smart meters worldwide are some other factors expected to drive growth of the target market over the forecasted period. However, high costs of smart grid system are one of the major factors expected to hamper growth of the global smart grid data analytics market over the forecast period.

Trends:

Prominent players are focusing on collaboration with other market players in order to develop AMI analytics solutions owing to high adoption of smart meters. In addition, large number of new entrants venturing into the target market is another key trend observed in the global market. These trends are expected to gain popularity and encourage development of new technologies, thereby supporting market growth.

Segment Analysis:

By Solution Type:

Among the solution type segments, the AMI analytics segment is expected to dominate in the global smart grid data analytics market, owing to increasing use of flattening smart meter shipments.

By Service Type:

Among the service type segments, the professional services segment is expected to dominate in the target market.

By Deployment Model:

Among the deployment model segments, the on-premise segment is expected to dominate in the target market.

By End User:

Among the end user segments, the large enterprises segment is expected to dominate in the target market.

Regional Analysis:

The market in North America is expected to dominate in the global smart grid data analytics market. This is primarily attributed to increasing investment in the smart grid networks, coupled with increasing awareness about smart technologies in countries in the region. The market in Asia Pacific is expected to be an emerging market in the global smart grid data analytics market and is expected to register highest CAGR over the forecast period, owing rapidly growing penetration of information and communication technologies (ICT) in grid modernization in countries such as China and India in the region. The market in Europe is expected to account for significant revenue share in the global smart grid data analytics market, due to increasing number of software vendors. Moreover, the markets in Latin America and Middle East & Africa are expected to register moderate growth rates in terms of revenue in the global smart grid data analytics market over the forecast period.

Global Smart Grid Data Analytics Market Segmentation:

Segmentation by Solution Type:

AMI Analytics
Demand Response Analytics
Grid Optimization
Asset Management
Others (Energy Forecasting and Data Visualization Tools)

 Segmentation by Service Type:

Professional Services
Support & Maintenance Services

 Segmentation by Deployment Model:

On-premise
Cloud-based
Hybrid

Segmentation by End User:

Small/Medium Enterprises
Large Enterprises
Public Sector