According to the recent study the smart grid data analytics market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 11% to 13%from 2023 to 2028. Growth in this market is primarily driven by increasing demand for electricity, adoption of smart grid systems, and increasing need for reliable solutions to optimize their grid efficiency.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in smart grid data analytics market by solution (transmission and distribution (T&D) network, metering, customer analytics), deployment (cloud-based, and on-premises), application (advanced metering infrastructure analytics, demand response analysis, grid optimization analysis, and others), end use industry (private sector and public sector), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Advanced metering infrastructure analysis market is expected to remain the largest segment during the forecast period.”
Based on application, the smart grid data analytics market is segmented into advanced metering infrastructure analytics, demand response analysis, grid optimization analysis, and others. Lucintel forecasts that the advanced metering infrastructure analysis market is expected to remain the largest segment over the forecast period because it provides various operational benefits to minimize the utility cost, identifying outage features, and enables utilities to provide customers digital access to their usage information to offer convenience to the customers.
“Within the smart grid data analytics market, the metering segment is expected to remain the largest solution”
Based on solution the metering segment is expected to witness the highest growth over the forecast period due to advanced integration renewable sources, increasing R&D, and growing installations in the residential, commercial, and industrial sectors.
“Asia pacific will dominate the smart grid data analytics market in near future”
Asia Pacific will remain the largest region due to rising population, accelerating demand for electricity, and increase in automated services. Increasing demand for smart cities in China, Japan, South Korea, and India are also contributing in the growth of this region.
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Major players of smart grid data analytics market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Accenture plc, AutoGrid Systems Inc., General Electric Company, International Business Machines Corporation, Itron Inc., Landis+Gyr (Toshiba Corporation), SAP SE are among the major smart grid data analytics providers.
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