Outlook of the smart grid data management market
Technavio’s market research analyst predicts the global smart grid data management market to grow at an impressive CAGR of more than 13% over the forecast period. One of the critical factors driving the growth of this market is the increasing investment in smart grid technologies. Factors like the rapidly expanding global population and rising power consumption have triggered the demand for power across geographies. Also, it has been observed that the increasing transmission and distribution (T&D) losses, growing demand for power, and a discrepancy in the demand-supply ratio have led to a massive power crisis around the world. To address this critical issue, countries such as the US, China, India, and the UK have started adopting smart grid technology that will not only reduce T&D losses but will also help to efficiently balance the demand and supply of electricity. This has led to increasing investments in smart grid technologies. For instance, in 2013, China invested close to USD 4 billion, whereas the US invested more than USD 3 billion in smart grid technologies. Moreover, the analysts have envisaged that the worldwide investment in smart grid technologies will increase because of the proper use of resources and efficient management of electricity data.
In this market research study, the analysts have estimated factors such as the rapid deployment of smart grids in many countries around the globe to spur the growth prospects for this market during the predicted period. Countries such as China, the US, India, Spain, Germany, and France are enforcing ambitious smart grid plans including grid applications like smart energy meters, SCADA systems, IT, and other communication networks. These devices enable utilities to have complete control and manage the digital assets that are present in the field. This recent shift to smart grid means that the utilities have to manage the complex smart devices and reduce the risk of grid failure and outages. This will bolster the need for sophisticated control systems to manage the data collected from the field and will contribute to the growth of the smart grid data management market until the end of 2020.
Segmentation by application and analysis of the smart grid data management market
- Distribution
- Generation and transmission
During 2015, the distribution segment dominated the market and accounted for more than 58% of the market share. Factors such as the extension of T&D lines for improving electrification rate will drive the smart grid device installation in the distribution sector. This segment is envisaged to account for close to 60% of the market share by the end of 2020.
Geographical segmentation and analysis of the smart grid data management market
- Americas
- APAC
- EMEA
The Americas dominated the market for data management systems with more than 64% of the market share during 2015. The market in this region is expected to grow rapidly over the forecast period owing to increasing investments in the smart grid systems and demand response programs. Demand response programs help utilities and IPPs shift or reduce power consumptions according to the peak and non-peak load periods. Moreover, the modernization of the power sector in South American countries to improve operational efficiency, reduce power theft, and improve the grid reliability will impel the growth prospects for this market in the Americas.
Competitive Landscape and key vendors
The smart grid data management market is characterized by the presence of several well-established vendors. In a few regions, local and regional vendors dominate the market, and large vendors have to deal with competitors. Large vendors have advantages like access to extensive capital and R&D funds, which allows them to develop new technologies.
Key vendors in this market are -
- EMC
- Oracle
- SAP
- SAS
- Siemens
Other prominent vendors in this market are Capgemini, GE Energy, IBM, Itron, Schneider, and Teradata.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the smart grid data management market?
- What are the key market trends impacting the growth of the global smart grid data management market?
- What are the challenges to market growth for smart grid data management?
- Who are the key vendors in the global smart grid data management market?
- What are the market opportunities and threats faced by the vendors in the smart grid data management market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global smart grid data management market?
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A smart grid generates a lot of data on a daily basis at different points such as smart meters installed in homes, at utilities' end, etc. These massive amounts of generated data are collected, stored, transmitted and analysed to predict electricity demand patterns and consequently, manage the production. The smart grid data management takes into account the entire value chain of data generation, collection, storage and analyses.
The report, global smart grid data management market, is part of Technavio’s energy research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as energy storage, power, oil and gas, smart grid, and waste and waste management. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.