Smart grid managed service refers to combined service, including different aspects such as software and hardware related to the smart grids. Adopting smart grid-managed services helps utility providers realize better operation and value from their energy transmission and distribution business. The services may comprise consulting, data analytics, and hardware installation for smart grids. Managed service providers help with strategic decision-making as per the requirement of their clients. The popular applications of smart grid managed services are energy management systems (EMS), distribution management systems (EMS), and smart grid data analytics solutions.
The most significant factor fueling the smart grid managed services market is the rising adoption of smart grids worldwide. Various countries, including China, Japan, the U.S., India, and others, are investing heavily in smart grid infrastructure. As a result, the demand for related data analytics solutions is expected to spur substantially in the coming years. Nevertheless, on-premise deployment of smart grid analytics and other related solutions becomes cost intensive. This is a major challenge for the overall smart grid industry.
Smart grid managed services are cheaper as compared to the conventional on-premise deployment of smart grid solutions. In addition, these services can be used based on the on-demand model, thereby enhancing its flexibility and scalability. This is another major factor fueling the smart grid managed services market growth. The only challenge for the market is the slow rate of adoption of smart grids across different countries. Nevertheless, with the rising concerns related to energy consumption and production, smart grid deployment is expected to pick up at a significant rate in the coming years, thereby fueling the managed services market.
The global smart grid managed services market is segmented on the following bases:
- Energy Management Systems (EMS)
- Distribution Management Systems (EMS)
- Smart Grid Data Analytics
- Small & Medium Utility Providers
- Large Utility Providers
- Public Sector Utility Providers
- Rest of Europe
- CIS Countries
- EU7 (U.K., Spain, France, Germany, Italy, Belgium & the Netherlands)
- Rest of Asia Pacific
- South Asia
- Rest of Latin America
Middle East & Africa
- GCC Countries
- North Africa
- South Africa
- Rest of Middle East &Africa
Key Players Identified for Smart Grid Managed ServicesMarket Include but are Not Limited to:
Accenture Plc., Atos SE, Capgemini SA, International Business Machines (IBM) Corporation, Alstom SA, Siemens AG, Ericsson, and others.
This report offers the following:
- An overview of the global markets for smart grid managed services.
- 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 highlight key information about the major players operating in the smart grid-managed services market.