Quadintel published a new report on the Smart Grid Data Analytics Market. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.
The global smart grid data analytics market size was US$ 2,961.6 million in 2021. The global smart grid data analytics market size is forecast to reach US$ 7,691.5 million by 2030, growing at a compound annual growth rate (CAGR) of 12.8% during the forecast period from 2022 to 2030.
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A smart grid is a new technology that aims to make systems run more efficiently. Smart grid data analytics offer the most cost-effective option for the entire system. Optimize the system and enable utility operators to operate the entire network efficiently by replacing an old system with smart meters, sensors, and automation of the entire system. The data created by all smart meters, sensors, and other automated systems are collected and analyzed in massive quantities. In addition, this data can examine and calculate from production and supply. Smart grid data analytics aids in the collection of useful data generated by all of the devices.
Factors Influencing Market Growth
The increasing demand for cost-effective power supplies for customers in the utility sector fuels the global market growth.
The increased cost of the initial investment in the smart grids system may slow down the overall market growth.
The growing automation in industries embracing smart meters, sensors, automated systems in order to organize the data and analyze in a graphical presentation and with high visualization helps understand the system behavior, store the complete data in the cloud, access the data, and makes able to take the conclusion from remote locations for the utility sectors is a major factor driving the global market.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global smart grid data analytics market. Governments worldwide imposed lockdown in order to curb the spread of the COVID-19. In addition, the strict containment standards instructed by the governments resulted in supply chain & logistics disruptions. Additionally, this difficulty caused sourcing raw materials.
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The Asia Pacific region is forecast to have lucrative growth in the market during the forecast period. As a result of the growing population in countries like China, Japan, and India is rising demand for residential infrastructure and electricity consumption. Thus, increasing the demand for electricity in the nations supporting the use of smart grids, which, in turn, is forecast to drive the smart grid data analytics market in the region.
North America held dominance in the smart grid data analytics market and is forecast to maintain its position during the forecast period. Many smart grid data analytics sellers focus on providing AMI analytics solutions to utility providers in the region. In addition, rising investment in smart grid systems by the U.S. is driving the market growth in the region.
The leading prominent companies profiled in the global smart grid data analytics market are:
AutoGrid Systems Incorporated
General Electric Company
Tantalus System Corporation
SAS Institute Incorporated
Uptake Technologies Incorporated
Landis & Gyr Group AG
Schneider Electric SE
Sensus USA Incorporated
Other Prominent Players
Scope of the Report
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The global smart grid data analytics market segmentation focuses on Deployment, Solution, Application, End-Users, and Region.
Segmentation focuses on Deployment
Segmentation focuses on Solution
Transmission and Distribution (T&D) Network
Segmentation focuses on Application
Advanced Metering Infrastructure Analysis
Demand Response Analysis
Grid Optimization Analysis
Segmentation focuses on End-Users
Segmentation focuses on Region
Rest of Western Europe
Rest of Eastern Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America
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Table of Contents:
- Market Overview
- Market Definition and Scope
- Market Dynamics
- Market Industry Analysis
- Market, Regional Analysis
- Analysis of Leading Companies
- Competitive Intelligence
- Research Process
- Market Analysis and Forecast, By Product Types
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East and Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
- Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Players
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and
- the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
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