Global Smart Grid Data Analytics Market 2014-2020
Albany, New York (PRWEB) January 26, 2015
Smart grid is the digital technology that acknowledges for two-way communication between the facility and its consumers. Smart Grid is a combination of computers, controls, automation, new technologies and equipment that work in conjunction with the electric grid to counter digitally to our changing electric demand. Smart grid intends to recover operation; maintenance and planning by assuring that each component of the electric grid can 'transmit' and 'receive’. Smart grid integrates renewable and different energy sources through automated controls and current communications technologies to improve reliability, efficiency and safety of electric power grid infrastructure that will contribute to economic and environmental growth. Smart grid system works on hybrid network architecture (HNA), which consists of wireless sensor network (WSN), wired infrastructure, power line communications (PLC) and controller area network (CAN). Smart grid is a two-way interactive facility that is organized to tackle risks such as severe storms, earthquakes, large solar flares, and terrorist attacks. Smart grid is a way to bring awareness amidst customers regarding the link between electricity use and the environment.
Smart grid data analytics market can be segmented based on technology. Sensing and measuring technologies, decision support software, automated communication between components of the electric grid and automated controls for distribution and repairs are the different type of technologies that will drive the advancement in smart grids. Distribution of power from transformers to home electric meters can be managed more efficiently using smart grids that are capable of two way communication which manages outages faster. Automation systems, electric vehicle charging equipment, low-voltage solar inverters, smart meters and high-efficiency distribution transformers are the few technologies for smart grid distribution networks. Remote data acquisition units (RDAUs), intelligent sensors modules (ISMs) and power line communication (PLC) modem are the major hardware topologies for smart grid system.
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In 2014, North America acquired the largest market share for smart grid data analytics market followed by Europe. United States is expected to remain one of the largest smart grid data analytics market. Europe is anticipated to experience slower growth rates as it is complex for utilities to detain smart grid benefits due to Europe’s deregulated market. China is expected to experience significant growth rates in upcoming years. Furthermore, other countries such as India, Brazil and Australia are developing value chain for smart grids. India is currently focusing on grid and line loss applications.
Efficient transmission of electricity, rapid restoration of electricity after power outages, reduction in operations & management costs for utilities, improved security, lower power costs for consumers, improved integration of renewable energy systems and customer-owner power generation systems are some benefits that is projected to drive smart grid data analytics market. Major restraint in the smart grid data analytics market is to establish a communication system inside the substation to achieve industry standards. Reduced operating expenses, improve in capital productivity, willingness to take risks, ability to manage partnerships, minimize the cost and complexity of maintenance, increase in grid efficiency are few requirements that will have to be met to capture the smart grid business. Identification of applications such as low cost suppliers, ability to establish players to maintain margins depending upon differentiation of their products will offer the greatest profit potential.
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Some of the major players in smart grid data analytics market are Itron, Sensus, Silver Spring Networks, AutoGrid, Accenture, Infosys, Microsoft, SAP, and Verizon among others.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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