Smart Grid Data Analytics Market Opportunities: Exploring Emerging Trends and Markets | Taiwan News

May 27, 2024

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Report Ocean published the latest research report on the Smart Grid Data Analytics Market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Smart Grid Data Analytics Market study demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, key regions, and growth rate. [Download Free Sample]

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.

Global market success will lead to innovative corporate goals and advantages. The business environment view, product details, and applications further provide insight into the study. Additionally, the report examines each region’s and market participant’s contribution to the market. The market also offers information on import/export statistics, consumer volume, manufacturing capacity, and price analysis.

Large Smart Grid Data Analytics corporations are laying the seeds of their own demise by seeking consolidation for improved profitability and reduced costs. The Smart Grid Data Analytics industry has stopped attempting to innovate with novel concepts and new goods. Instead of upsetting its own company, the industry has chosen incremental innovation inside its own product portfolios, and much of the innovation that takes place is to sustain or barely grow the current business. The industry investigates Biogas, hydrogen, and electric heating as potential substitutes for natural gas as feedstock and power sources.

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.

Leading Competitors

The leading prominent companies profiled in the global smart grid data analytics market are:

AutoGrid Systems Incorporated

General Electric Company

IBM Corporation

Siemens AG

Itron Incorporated

SAP SE

Tantalus System Corporation

SAS Institute Incorporated

Hitachi Limited

Uplight Incorporated

Uptake Technologies Incorporated

Oracle Corporation

Amdocs Corporation

Landis & Gyr Group AG

Schneider Electric SE

Sensus USA Incorporated

Other Prominent Players

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Through the conclusion of the year, 2022 saw growth in the Smart Grid Data Analytics industry’s payrolls. In January, employment in the Smart Grid Data Analytics industry surpassed pre-COVID levels, and in 2022, payrolls increased by more than 15,000 people. Global Smart Grid Data Analytics output increased by 5.2% in 2021 due to the worldwide economic boom and soaring demand for commodities. The production of the global industrial sector declined in 2022 after a boom in 2021 that was sparked by a shift in consumer expenditure toward products and a hefty fiscal stimulus.

Global Smart Grid Data Analytics output is anticipated to increase at a 2.9% rate in 2023 as production in Western Europe gradually picks up steam from its low points and production in the Asia/Pacific region recovers. With nearly 45% of the world’s Smart Grid Data Analytics market, China continued to be both the world’s largest producer and consumer of market. Since 2010, when the market share was about 26%, there has been a year-over-year increase, and it now makes a significant contribution to the GDP of the nation. The nation is the top exporter in industries including silicon, PVC, and several specific Smart Grid Data Analytics market.

Scope of the Report

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

Metering

Customer Analytics

Segmentation focuses on Application

Advanced Metering Infrastructure Analysis

Demand Response Analysis

Grid Optimization Analysis

Segmentation focuses on End-Users

Private Sector

Public Sector

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Segmentation focuses on Region

North America

The U.S.

Canada

Mexico

Europe

Western Europe

The UK

Germany

France

Italy

Spain

Rest of Western Europe

Eastern Europe

Poland

Russia

Rest of Eastern Europe

Asia Pacific

China

India

Japan

Australia & New Zealand

ASEAN

Rest of Asia Pacific

Middle East & Africa (MEA)

Saudi Arabia

South Africa

Rest of MEA

South America

Brazil

Argentina

Rest of South America

Key questions answered in the market report are:

What are the sales, production, consumption, import, and export values of the global market (covering North America, Europe, Asia-Pacific, South America, the Middle East, and Africa)?

Who are the leading producers in this industry globally? What are their current operational levels for capacity, production, sales, price, cost, gross, and revenue?

What are the market chances and dangers for the vendors in the global market?

Which product categories, final consumers, or applications might be seeking new growth opportunities? What is the market share for each kind and application?

What specific tactics and restraints are controlling the market?

Which marketing, sales, and distribution channels are available on the global market?

What are the manufacturing equipment and upstream raw materials?

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About Report Ocean:

Report Ocean is a renowned provider of market research reports, offering high-quality insights to clients in various industries. Their goal is to assist clients in achieving their top line and bottom line objectives, thereby enhancing their market share in today’s competitive environment. As a trusted source for innovative market research reports, Report Ocean serves as a comprehensive solution for individuals, organizations, and industries seeking valuable market intelligence.