Global Smart Grid Data Management Market 2016-2020

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