MarketResearchReports.biz announces the addition of a new market research study to its huge database of research reports. The research report offers a detailed analysis of the global market for smart grid management, including the product segmentation, key drivers, restraints, major geographical segments, and vendor analysis.
The 68-page research study, titled “Global Smart Grid Data Management Market 2016-2020,” further provides the forecast figures of the market. As per the research study, the global market for smart grid data management is projected to grow at a progressive 13.85% CAGR between 2016 and 2020.
A smart grid produces a substantial amount of data on a regular basis at several different points, including smart meters, which are installed in at utilities’ end, homes, and other locations. The huge amount data generated is collected, transmitted, stored, and analyzed to forecast the different patterns of electricity and subsequently manage the production as well. The increasing need for data management is expected to fuel the growth of the market throughout the forecast period. However, the high cost of upgrading smart grids is one of the biggest challenges for the key players operating in the market.
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By application, the global market for smart grid data management has been classified into generation and transmission and distribution. In 2015, the distribution segment led the market, accounting for a 58% share in the overall market for smart grid data management. This segment is anticipated to hold a 60% share in the market by the end of 2020. The fast growth of this application segment can be attributed to the extension of transmission and distribution lines for enhancing the electrification rate.
By geography, the global market for smart grid data management has been divided into EMEA, Americas, and APAC. In 2015, the Americas led the market, accounting for a 64% share in the global market for smart grid data management. The rapid growth of this region can be attributed to the growing investments in the smart grids systems. Moreover, the demand response programs assist IPPs and utilities adjust the power consumption in response to the peak as well as non-peak load phases. In addition, the modernization of the power sector in several countries in South America is estimated to enhance the operational efficiency, develop the grid reliability, and reduce power theft, thus fueling the growth of the Americas market for smart grid data management throughout the forecast period.
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Furthermore, the research report talks about the competitive landscape of the global market for smart grid data management and provides a comprehensive vendor analysis for the same. The leading players operating in the market include Oracle Corp., Siemens AG, SAS Institute Inc., EMC Corp., and SAP SE. Detailed profiles of the prominent players along with a SWOT analysis has been included in the research report. Some of the other key vendors mentioned in the research study are Itron, Schneider, GE Energy, Capgemini, IBM, and Teradata.