Smart grid data analytics is transforming the energy sector
by leveraging data to optimize grid performance, enhance reliability, and
improve energy efficiency. King’s Research provides a comprehensive analysis of
the smart grid data analytics market, highlighting key trends, growth drivers,
and future projections.
The global smart
grid data analytics market, valued at US$4.23 billion in 2023, is projected
to grow from US$4.81 billion in 2024 to US$13.32 billion by 2031, with a CAGR
of 15.68%. This rapid evolution is driven by utilities and energy providers
adopting advanced analytics solutions to boost operational efficiency.
Growth Factors
The growing focus on energy efficiency and sustainability is
significantly driving the adoption of smart grid data analytics among utilities
and energy providers. Organizations are increasingly prioritizing the reduction
of energy consumption and the lowering of their carbon footprint. To achieve
these goals, they are turning to advanced data analytics solutions that provide
deeper insights into energy usage and operational performance.
Smart grid data analytics enables enhanced performance
monitoring and predictive maintenance, helping utilities to optimize their
operations and preemptively address potential issues. By leveraging these
analytics tools, organizations can make data-driven decisions that not only
improve efficiency but also support their sustainability objectives. This shift
towards data-driven strategies is a key factor in the accelerating growth of
the smart grid data analytics market.
Unlock Key Growth
Opportunities: https://www.kingsresearch.com/smart-grid-data-analytics-market-1010
List of Key Companies in Smart Grid Data Analytics Market
- Siemens
- Itron Inc.
- AutoGrid Systems Inc.
- GE Vernova
- IBM Corporation
- SAP SE
- Tantalus
- SAS Institute Inc.
- Oracle Corporation
- Uplight Inc.
The global smart grid data analytics market is segmented
as:
By End Use
- Utilities and Grid Operators
- Industrial Consumers
- Residential Consumers
- Renewable Energy Providers
- Heavy Duty Vehicles
By Analytics Type
- Descriptive Analytics
- Predictive Analytics
- Diagnostic Analytics
- Prescriptive Analytics
By Component
- Software
- Services
By Deployment
- Cloud-Based
- On-Premises
By Organization Size
- Small and Medium Businesses
- Large Enterprises
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- U.K.
- Spain
- Germany
- Italy
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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