Published on : May 19, 2016
ALBANY, New York, May 19, 2016: The report states that the market will exhibit an impressive 13% CAGR over the period between 2016 and 2020. The report is titled “Global Smart Grid Data Management Market 2016-2020.”
The report states that the rising investment in smart grid technologies across the globe is the key driving force for the global smart grid technologies market. The exploding global population and rising consumption of electricity have triggered the demand for power management solutions. Also, the mounting losses incurred in the transmission and distribution and the divergence in electricity demand-supply ratio have led to serious energy crises across the globe. To address the issue, countries such as India, China, the U.S., and the U.K. have started adopting smart grid technologies. This has led to increased investments in smart grid technologies across the globe in the past few years. In China, for instance, the smart grid market witnessed investments of more than US$4 bn in 2013. In the U.S., investments approximating US$3 bn were reported.
For the ease of comprehension, the global market for smart grid data management has been segmented into application area and geography.
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On the basis of application, the market has been segmented into distribution and generation and transmission. Of these, the segment of distribution held a dominant share of over 58% in the global market in 2015. The segment is projected to account for over 60% in the global market by 2020, owing to the extension of T&D lines across key regional markets.
From a geographic perspective, the global smart grid data management market has been segmented into APAC, EMEA, and Americas. Of these, the market for smart grid data management in the Americas dominated the global market in 2015, accounting for a share of close to 64%. Over the report’s forecast period as well, the market for smart grid data management in the Americas is expected to expand at a rapid pace owing to the rising investments in demand response programs and smart grid systems. Furthermore, the modernization of the power sector in South America will also improve the growth prospects of the smart grid data management market in Americas.
The report states that the global smart grid data management market features several well-established companies. In a few regional markets, regional and local companies dominate the market and large vendors face tough competition. Nevertheless, large companies have the upper hand owing to generous funds for research and development and extensive capital investments, allowing them to bring innovative products and new technologies to the market at a rapid pace.
Some of the most prominent vendors in the global smart grid data management market are Oracle, SAP, Siemens, SAS, EMC, GE Energy, Itron, Capgemini, Teradata, Schneider, and IBM.
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