According to the new market research report “Smart Grid Analytics Market by Solution (AMI Analytics, Demand Response Analytics, Asset Management, Grid Optimization, Energy Data Forecasting/Load Forecasting and Visualization Tools) – Worldwide Forecast and Analysis 2014 – 2019 ”.

[127 Pages Report] Smart grid analytics market is expected to grow from $1.8 billion in 2014 to $5.5 billion by 2019, at a Compound Annual Growth Rate (CAGR) of 25.0% from 2014 to 2019.
Browse and in-depth TOC on "Smart Grid Analytics Market"
63 - Tables
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127 - Pages

The smart grid analytics market is broadly segmented into AMI analytics, demand response analytics/ advanced analytics for Demand Response Management System (DRMS), asset analytics, analytics for grid optimization, energy data forecasting/ load forecasting, and visualization tools. The scope of application of each solution is different. For instance, AMI analytics solutions cater to AMI deployment, operations, customer billing, revenue protection and other applications; analytics for grid optimization applies to grid operations, voltage and VAR (Volt-Ampere Reactive) optimization, outage management and so on.

The smart grid analytics market has observed faster growth in recent years due to numerous driving factors such as the deployment of smart metering infrastructure giving rise to gigantic volume of data generation, limited nature of non-renewable energy sources, and the rising demand for consumer engagement. The market opportunities in the smart grid analytics environment include the rise in cloud based solutions/ Software-as-a-Service (SaaS) solutions, high demand for system integrators, and focus shift on optimization of grid operation.

Several key solution vendors occupying this market are IBM Corporation, Siemens AG, Opower, SAS Institute, Inc., SAP AG, Oracle Corporation and others. The smart grid market space also involves numerous service providers and system integrators such as Accenture, Capgemini, Wipro and others. The smart grid analytics market research report discusses the strategies and insights of the key vendors in the industry and also provides in-depth study of driving forces and challenges for the market. The report also analyzes the global trends and future growth potentials across different regions..

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MarketsandMarkets has segmented the global smart grid analytics market by type of solution, service, deployment model, and geographical region. The report also consists of MarketsandMarkets views of the key players and analysts insights on latest developments that are taking place in the market space. The forecast period for the market research report is 2014 - 2019 with 2013 considered as the base year. The research report covers complete market categorized into following sub-markets:

On the basis of solution type:
• AMI analytics
• Demand response analytics
• Asset analytics
• Analytics for grid optimization
• Energy data forecasting/ load forecasting
• Visualization tools
On the basis of service type:
• Professional services
• Support and maintenance services
On the basis of type of deployment model:
• On-premise
• On-demand (cloud-based)
On the basis of geographical region:
• North America (NA)
• Europe
• Asia-Pacific (APAC)
• Middle East and Africa (MEA)
• Latin America (LA)

In the smart grid analytics market space, the solution vendors such as Siemens AG, IBM Corporation, Opower, SAPAG, and Oracle Corporation as well as the service providers such as Accenture, Capgemini SA and Wipro offer high end data analytics solutions and professional services. The solutions include AMI analytics, demand response analytics/ advanced analytics for Demand Response Management System (DRMS), asset analytics, analytics for grid optimization, energy data forecasting/ load forecasting, and visualization tools. Also, the services include professional services such as consulting services, and system integration services as well as the support and maintenance services.

Smart grid analytics market is growing at a rapid rate and is stirred by various growth drivers such as the deployment of smart metering infrastructure giving rise to gigantic volume of data generation, limited nature of non-renewable energy sources, and the rising demand for consumer engagement. The smart grid analytics market can also thrive in the near future leveraging numerous opportunities in this market space such as the rising demand for system integrators, rise of the Software-as-a-Service/ cloud-based solutions and need of high end analytics solutions for optimization of grid operations. This market is however influenced by a few restraining factors such as lack of skilled workforce and upkeep of prevailing data regulations and standards.

Globally, smart grid analytics adoption rate is increasing in the APAC, LA and MEA region due to the increasing awareness of the benefits of big data analytics amongst the businesses running in the utility industry, particularly the smart grid. This increasing awareness level is significantly pushing the smart grid enterprises to deploy comprehensive big data analytics solutions for their grid assets, their operations and functions as well as for enhanced consumer engagement.

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