Smart grid data analytics necessitates the improvement of power grid technology. It supports in consistent and prominent observing of services, in addition to facilitating better and proficient power utilization and management. Furthermore, the smart grid data analytics also motivated the advancement of customer experience and the amalgamation of renewable energy with the conventional energy sources for the power generation.
According to the report analysis, ‘Asia Pacific Smart Grid Data Analytics Market 2020-2027 by Component (Solutions, Services), Deployment (Cloud-based, On-premise, Hybrid), Application, End User, and Country: Trend Outlook and Growth Opportunity’ states that Asia Pacific smart grid data analytics market will augment more effectively annually owing to effective growth in smart grid investments, the increment in the rate of integration of renewable energy to the prevailing grids and proficient technological improvements.
Accenture PLC, Oracle Corporation, Amdocs Corporation, AutoGrid Systems Inc., General Electric Company, SAS Institute Inc Schneider Electric SE, Hitachi Ltd, HP Development Company LP, Opower, Inc., Schneider Electric SE, IBM Corporation, Tantalus System Corporation, Uplight Inc., Itron Inc., Landis & Gyr Group AG, SAP SE, Sensus USA Inc. (Xylem Inc.), Siemens AG, Uptake Technologies Inc. and countless others are the foremost organization more actively for leading the highest market growth and registering the great value of market share around the region during the review duration while increasing the applications and benefits of such, spreading the awareness connected to the specifications and advantages of such, implementing the policies of enlargement and profit making strategies, launching the several research and development programs, analysing the strategies and policies of government as well as comparable entities, distributing the better consumer satisfaction, declining the associated prices of such, engaging the young and active personnel, and enlightening the qualitative and quantitative measures of such.
Based on applications, the Asia Pacific smart grid data analytics market is segmented into grid optimization analysis, demand response analytics, asset management, advanced metering infrastructure analysis and several other applications. Based on the deployment, the Asia Pacific smart grid data analytics market is sectored into on-premise systems, cloud-based systems and hybrid systems.
Moreover, most utility providers, probably, have lower budgets for the improvement/ advancement of their power grids. Although smart grids propose countless advantages over conventional distribution systems, mainstream of utility wage-earners are skeptical about their return on investment on the smart grids. Thus, utility providers choose to rely on their traditional grid systems owing to these uncertainties. Thus, great cost of smart grid systems is predicted to limit the smart grid data analytics market throughout the forecast period.
Not only has this, the smart grid data analytics market in Asia Pacific region is prophesied to increase at a high CAGR throughout the conjecture period. Rising digitalization of utility procedures has propelled the prerequisite for smart grid data analytics around the region. China is the most attractive market around Asia Pacific. The incremental opportunity is proficiently greater for China as it registers for a dominant share in the smart grid data analytics market around the region.
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Global Smart Grid Data Analytics Market 2020-2027 by Component (Solutions, Services), Deployment (Cloud-based, On-premise, Hybrid), Application, End User, and Region: Trend Outlook and Growth Opportunity
Ankur Gupta, Head Marketing & Communications