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Smart Grid Analytics Market

Global Smart Grid Analytics Market Share, Size, Growth, Trends, Analysis, Forecast: By Component: Solution, Services; By Deployment Mode: On-Premises, On-Demand (Cloud Based); By Application: Advanced Metering Infrastructure Analysis, Demand Response Analysis, Others; By End User; Regional Analysis; Competitive Landscape; 2024-2032

Global Smart Grid Analytics Market Outlook

The global smart grid analytics market size reached a value of more than USD 1.95 billion in 2023. During the forecast period of between 2024 and 2032, the market is expected to grow at a CAGR of 3.75%.

 

Key Trends in the Market

Smart grid analytics is the use of advanced analytics approaches, such as forecasting, optimisation, and predictive and prescriptive analytics for data produced in grids. They gather useful data produced by the machinery and aid in estimating the load in the future. These techniques are used to improve decision-making processes, acquire predictive analysis, and enhance grid efficiency.

 

  • The Internet of Things (IoT) is the foundation of smart grid analytics, connecting every part of the grid and enabling two-way communication between utilities and customers. With the expanding developments and improved IoT infrastructure, it is anticipated that smart grid analytics will become a more reliable and effective power distribution network in the upcoming years.
  • Advanced metering infrastructure (AMI) provides utilities providers with the capabilities for remotely reading metres, enabling and disabling the service, connecting and disconnecting the service, identifying outages, and generating more accurate bills more quickly. As a result of increased smart metre installations and the use of better metering infrastructure, it is estimated that the global smart grid analytics market would expand over the projected period.
  • Increasing investments in smart grid projects are accelerating market expansion. The infrastructure of electricity grids has gradually become more digitised and interconnected, supporting the stable and secure transmission of crucial digital communications.  Additionally, a number of initiatives have started in various countries with the goal of resolving the population's electricity-related problems and fostering market expansion.

 

Global Smart Grid Analytics Market Analysis

Based on component, the market is segmented into solution and services. Solution is further divided into transmission and distribution (T&D) network, metering, and customer analytics, among others whereas services are sub-divided into professional services and support and maintenance services. On the basis of deployment mode, the market is divided into on-premises and on-demand (cloud based). 

 

The market on the basis of application can be segmented into advanced metering infrastructure analysis, demand response analysis, and grid optimisation analysis. Based on end user, the market is bifurcated into private sector and public sector. The regional markets for smart grid analytics can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global smart grid analytics market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.  

 

  • SAP SE
  • Oracle Corporation
  • Siemens AG
  • Accenture Plc
  • IBM Corporation
  • Dell Technologies Inc.
  • Capgemini SA
  • Others

 

Market Share by Deployment Mode

During the forecast period, the global smart grid analytics market is expected to be dominated by the on-demand cloud-based deployment mode. In comparison to on-premises solutions, cloud-based solutions are less expensive, and offer greater scalability and flexibility. Due of this, cloud deployment is preferred over on-premises implementation. 

 

Additionally, during the past several years, there has been a significant increase in the usage of cloud-based services across a variety of applications. As a result, the majority of customers favour cloud-based solutions. With improvements in security of on-demand cloud-based deployment and faster implementation periods, it is anticipated that the segment will continue to have a leading position during the forecast period.

 

Market Share by Region

In the global smart grid analytics market, Asia Pacific is anticipated to be one of the leading regions. Population growth in nations like China and India, has boosted the demand for residential infrastructure and electricity use, driving the demand for electricity, potentially, opening up the market for smart grid analytics. It is also anticipated that the development of smart cities will increase the market demand. 

 

North America is anticipated to experience significant adoption of smart grid technology and analytics, due to significant investments in new grid developments and smart city efforts. The region has favourable government policies in place to support the production of sustainable energy. The outlook for North America is also anticipated to be influenced by the rising demand for energy-efficient power generation.

 

smart grid analytics market by region

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Competitive Landscape

SAP SE, founded in 1972, is a German multinational software company which creates enterprise applications to handle client interactions and business processes. The company provides training services, develops business software, and e-business and enterprise management software, and consults on organisational usage of its applications and software.

 

Oracle Corporation, a leading computer technology company established in 1977 with its headquarters in the United States, is well recognised for its software solutions like Java. Oracle provides its cloud-engineering services, hardware, systems, licences, and services through its four primary business sectors: Cloud, Licencing, Hardware, and Services.

 

Siemens AG, a global innovator focussing on automation, digitalisation, and electrification for the process and manufacturing industries, was established in 1847 and has its headquarters in Germany. It is a leader in intelligent infrastructure, power generation and distribution, and distributed energy systems.

 

Other market players include Accenture Plc, IBM Corporation, Dell Technologies Inc., and Capgemini SA, among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Component
  • Deployment Mode
  • Application
  • End User
  • Region
Breakup by Component
  • Solution
  • Services
Breakup by Deployment Mode
  • On-Premises
  • On-Demand (Cloud Based)
Breakup by Application
  • Advanced Metering Infrastructure Analysis
  • Demand Response Analysis
  • Grid Optimisation Analysis
Breakup by End User
  • Private Sector
  • Public Sector
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • SAP SE
  • Oracle Corporation
  • Siemens AG
  • Accenture Plc
  • IBM Corporation
  • Dell Technologies Inc.
  • Capgemini SA
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Smart Grid Analytics Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Smart Grid Analytics Historical Market (2018-2023) 
    8.3    Global Smart Grid Analytics Market Forecast (2024-2032)
    8.4    Global Smart Grid Analytics Market by Component
        8.4.1    Solution
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2023)
            8.4.1.3    Forecast Trend (2024-2032)
            8.4.1.4    Breakup by Type
                8.4.1.4.1    Transmission and Distribution (T&D) Network
                8.4.1.4.2    Metering
                8.4.1.4.3    Customer Analytics
                8.4.1.4.4    Others
        8.4.2    Services
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2023)
            8.4.2.3    Forecast Trend (2024-2032)
            8.4.2.4    Breakup by Type
                8.4.2.4.1    Professional Services
                8.4.2.4.2    Support and Maintenance Services
    8.5    Global Smart Grid Analytics Market by Deployment Mode
        8.5.1    On-Premises
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2023)
            8.5.1.3    Forecast Trend (2024-2032)
        8.5.2    On-Demand (Cloud Based)
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2023)
            8.5.2.3    Forecast Trend (2024-2032)
    8.6    Global Smart Grid Analytics Market by Application
        8.6.1    Advanced Metering Infrastructure Analysis
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2023)
            8.6.1.3    Forecast Trend (2024-2032)
        8.6.2    Demand Response Analysis
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2023)
            8.6.2.3    Forecast Trend (2024-2032)
        8.6.3    Grid Optimisation Analysis
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2023)
            8.6.3.3    Forecast Trend (2024-2032)
    8.7    Global Smart Grid Analytics Market by End User
        8.7.1    Private Sector
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2023)
            8.7.1.3    Forecast Trend (2024-2032)
        8.7.2    Public Sector
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2023)
            8.7.2.3    Forecast Trend (2024-2032)
    8.8    Global Smart Grid Analytics Market by Region
        8.8.1    North America
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2018-2023) 
            8.8.1.3    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2018-2023) 
            8.8.2.3    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2018-2023) 
            8.8.3.3    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Market Share
            8.8.4.2    Historical Trend (2018-2023) 
            8.8.4.3    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Market Share
            8.8.5.2    Historical Trend (2018-2023) 
            8.8.5.3    Forecast Trend (2024-2032)
9    North America Smart Grid Analytics Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2023) 
        9.1.3    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2023) 
        9.2.3    Forecast Trend (2024-2032)
10    Europe Smart Grid Analytics Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2023) 
        10.1.3    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2023) 
        10.2.3    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2023) 
        10.3.3    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2023) 
        10.4.3    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Smart Grid Analytics Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2023) 
        11.1.3    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2023) 
        11.2.3    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2023) 
        11.3.3    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2023) 
        11.4.3    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2023) 
        11.5.3    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Smart Grid Analytics Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2023) 
        12.1.3    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2023) 
        12.2.3    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2023) 
        12.3.3    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Smart Grid Analytics Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2023) 
        13.1.3    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2023) 
        13.2.3    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2023) 
        13.3.3    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2023) 
        13.4.3    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    SAP SE
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Oracle Corporation
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Siemens AG
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Accenture Plc
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    IBM Corporation
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Dell Technologies Inc.
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Capgemini SA
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Others
16    Key Trends and Developments in the Market

 

List of Figures and Tables

1.    Global Smart Grid Analytics Market: Key Industry Highlights, 2017 and 2027
2.    Global Smart Grid Analytics Historical Market: Breakup by Component (USD Million), 2018-2023
3.    Global Smart Grid Analytics Market Forecast: Breakup by Component (USD Million), 2024-2032
4.    Global Smart Grid Analytics Historical Market: Breakup by Deployment Mode (USD Million), 2018-2023
5.    Global Smart Grid Analytics Market Forecast: Breakup by Deployment Mode (USD Million), 2024-2032
6.    Global Smart Grid Analytics Historical Market: Breakup by Application (USD Million), 2018-2023
7.    Global Smart Grid Analytics Market Forecast: Breakup by Application (USD Million), 2024-2032
8.    Global Smart Grid Analytics Historical Market: Breakup by End User (USD Million), 2018-2023
9.    Global Smart Grid Analytics Market Forecast: Breakup by End User (USD Million), 2024-2032
10.    Global Smart Grid Analytics Historical Market: Breakup by Region (USD Million), 2018-2023
11.    Global Smart Grid Analytics Market Forecast: Breakup by Region (USD Million), 2024-2032
12.    North America Global Smart Grid Analytics Historical Market: Breakup by Country (USD Million), 2018-2023
13.    North America Global Smart Grid Analytics Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Europe Global Smart Grid Analytics Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Europe Global Smart Grid Analytics Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Asia Pacific Global Smart Grid Analytics Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Asia Pacific Global Smart Grid Analytics Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Latin America Global Smart Grid Analytics Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Latin America Global Smart Grid Analytics Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Middle East and Africa Global Smart Grid Analytics Historical Market: Breakup by Country (USD Million), 2018-2023
21.    Middle East and Africa Global Smart Grid Analytics Market Forecast: Breakup by Country (USD Million), 2024-2032
22.    Global Smart Grid Analytics Market Structure

Key Questions Answered in the Report

What was the global smart grid analytics market size in 2023?

In 2023, the market attained a value of more than USD 1.95 billion.

What is the growth rate of the global smart grid analytics market?

The market is projected to grow at a CAGR of 3.75% between 2024 and 2032.

What are the major industry drivers?

The major drivers of the smart grid analytics market include the increasing investments in smart grid projects, favourable policies by various governments, rising demand for energy, and growing demand for cloud-based solutions.

What are the key industry trends of the global smart grid analytics market?

The expanding developments and improved IoT infrastructure and the increasing installation of smart metres are the key industry trends propelling the growth of the market.

Who are the key industry players, according to the report?

The major players in the industry are SAP SE, Oracle Corporation, Siemens AG, Accenture Plc, IBM Corporation, Dell Technologies Inc., and Capgemini SA, among others.

What are the components that make up a smart grid?

Integrated communications, sensing and measuring technologies, cutting-edge control methodologies, enhanced interfaces, and decision support are some of the components used in a smart grid.

What distinguishes a conventional grid from a smart grid?

A smart grid uses sensor and microprocessor-based digital technology, enabling two-way flow of electricity and information, as opposed to a traditional grid, which uses electromechanical and solid-state technology, allowing only one-way flow of electricity and information.

What are the primary applications of smart grid analytics?

The primary applications of smart grid analytics are advanced metering infrastructure analysis, demand response analysis, and grid optimisation analysis.

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