Home / Technology & Media / Smart Grid as a Service Market Size, Segmentation, Opportunities, Trends, Growth and Industry Forecast To 2022

Smart Grid as a Service Market Size, Segmentation, Opportunities, Trends, Growth and Industry Forecast To 2022

Overview:

Smart grid refers to an electrical grid system comprising various smart sensing devices, smart appliances and smart meters. It is a network of sensors connected using wireless technology to monitor the energy supply and consumption, state of grid elements and demand response. The network is designed to collect huge amounts of data to further analyze it (using data analytics solutions) for gaining better operational efficiency. Smart grid as a service refers to accessing data analytics solutions using a hosted cloud. The deployment of smart grid network is expanding rapidly across the U.S., Western Europe, China and others. Amongst these, the U.S. and China are the leading investors for smart grid and data analytics solutions and hence are expected to emerge as the largest markets for smart grid as a service in the coming years.

Due to ever rising demand for electricity worldwide, it becomes highly essential to ensure the optimum use of produced electricity. As a result, the demand for data analytics solutions is estimated to witness strong demand in the coming years. Nevertheless, the on-premise deployment of these solutions becomes enormously costly for utility providers. Smart grid as a service enables utility providers to utilize data analytics solutions through cloud-based service. Since these solutions are way cheaper as compared to the on-premise solutions, the adoption of smart grid as a service is estimated to surge substantially during the forecast period. Additionally, with the rising adoption of cloud services across various sectors, the smart grid as a service market is expected to register high growth during the forecast period.

The global smart grid as a service market is segmented on the following bases:

1.   Solution

a.    AMI Analytics

b.    Demand Response

c.    Grid Optimization

d.   Asset Management Solutions

e.    Others (Energy Forecasting, Visualization Tools etc.)

2.   Applications

a.    Small & Medium Utilities

b.    Large Utilities

c.    Public Sector Utilities

3.   Geography

a.    North America

               i.    US

               ii.    Canada

b.    Europe

               i.    EU7 (U.K., Spain, France, Germany, Italy, Belgium & the Netherlands)

               ii.    CIS Countries

               iii.    Rest of Europe

c.    Asia-Pacific

               i.    Japan

               ii.    China

               iii.    South Asia

               iv.    Oceania

               v.    Rest of Asia Pacific

d.   Latin America

               i.    Brazil

               ii.    Mexico

               iii.    Rest of Latin America

e.    Middle East & Africa

               i.    GCC Countries

               ii.    North Africa

               iii.    South Africa

               iv.    Rest of Middle East & Africa

Key Players Identified for Smart Grid as a Service Market Include but are Not Limited to:

Accenture Plc., Alstom Grid, Inc., Leidos Holdings, Inc., General Electric Company, Verizon Communications, Hewlett-Packard (HP) Company, Verdeeco, Inc. (Sensus USA, Inc.) and others.

This report offers:

  • An overview of the global markets for smart grid as a service
  • Market trends assessment for the period 2014-2022, with historical information for 2014 & 2015, and projections through 2022, with respective CAGR during 2016-2022
  • Qualitative assessment tools such as market drivers, challenges and future prospects in the market
  • Market competition scrutiny tools such as market positioning analysis
  • A general overview of the industry structure
  • Company profiles highlighting key information about the major players operating in the smart grid as a service market
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