Smart Grid Data Analytics Market to See Booming Growth | Size, Share, Trends, and Forecast by 2022-2027

IMARC Group's latest report, titled "Smart Grid Data Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", the global smart grid data analytics market reached a value of US$ 1.92 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 3.9 Billion by 2027, exhibiting a CAGR of 11.70% during 2022-2027.

Smart grid data analytics refers to a method that helps the system to run effectively while providing optimized solutions. They consist of numerous components, including automated power distribution systems, smart appliances, smart meters, and sensing equipment that collect valuable information generated by the equipment and help in predicting the load for the future, thus facilitating effective decisions for long-term forecasts and assisting in minimizing the wastage of energy. Consequently, they are widely used in advanced metering infrastructure analysis and grid optimization and aid in improving grid reliability and security, lowering management costs, efficient energy transmission and delivering personalized energy services to consumers, and better integration of renewable energy.

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Smart Grid Data Analytics Market Growth and Demand:

The increasing solution demand by utility service providers is driving the global market. Moreover, the growing awareness among consumers about the benefits of smart grid analytics that have led to the rising usage of smart meters worldwide, is fuelling the market. Furthermore, the widespread integration of machine learning (ML), Internet-of-Things (IoT), and big data analytics with smart grid data analytics are also supporting the overall growth. Additionally, the escalating need for enhanced communication networks and efficient data transfer systems are positively impacting the market.

Apart from this, the continuous development of smart cities and numerous supportive government initiatives for the uptake of renewable sources of power generation are creating a positive market outlook. Other factors, such as the rising demand for improved grid reliability and outstanding inherent operational performance and rapid urbanization, are also positively influencing the market.

Competitive Landscape:

• AutoGrid Systems Inc
• General Electric Company
• International Business Machines Corporation
• Itron Inc
• Landis+Gyr (Toshiba Corporation)
• SAP SE
• SAS Institute Inc
• Schneider Electric SE
• Sensus USA Inc. (Xylem Inc.)
• Siemens AG
• Tantalus System Corporation

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Key Market Segmentation:

Breakup by Solution:

• Transmission and Distribution (T&D) Network
• Metering
• Customer Analytics

Breakup by Deployment:

• Cloud-based
• On-premises

Breakup by Application:

• Advanced Metering Infrastructure Analytics
• Demand Response Analysis
• Grid Optimization Analysis
• Others

Breakup by End Use Vertical:

• Private Sector (SMEs and Large Enterprises)
• Public Sector

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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