Greentech Lead America: Overall, the worldwide market for
smart grid data analytics is expected to grow steadily through 2020, with
cumulative worldwide spending from 2012 through 2020 totaling just over $34
billion.
Asia Pacific region will account for a bulk of this
investment, accounting for over $2.5 billion by 2020.
The new report from Pike Research said the data analytics
demand will grow as utilities round the world are evaluating, planning, and
implementing smart grid technologies and associated enterprise processes to
modernize their operational and information systems by deploying advanced
metering infrastructure (AMI) and other electronic communications technologies.
Smart grid technologies like AMI help utilities monitor,
analyze, and synchronize their networks to improve reliability, availability,
and efficiency. The use of these technologies results in data deluge and is
expected to grow by several orders of magnitude over time.
The data explosion will result in associated challenges
such as data collection and storage.
Global smart
grid
market is expected to experience strong expansion during the next 10 years,
according to MarketResearch.com. Global smart grid market in 2012 will total
$33.91billion.
AMI dominates the smart grid investments in
most regions. In Japan Smart Grid market is projected to grow to $7.4 billion
by 2016, according to Zpryme. From 2011 to 2016, the market is projected to
grow at an annual rate of 63.8 percent. The building information
communication technologies segment is projected to grow the fastest, growing at
an annual rate of 84.7 percent. The advanced metering infrastructure (AMI)
segment is projected to be the largest, reaching $2.5 billion by 2016.
In Malaysia, Smart
Grid technology market is likely to grow to $109.0 million
by 2016 from $35.2 million in 2011, according to Zypryme.
Smart grid network management systems
market in the U.S. is likely to grow from $225 million in 2012 to $1.05 billion
in 2020, Zypryme said.
Globally Smart grid technology spending is
expected to reach $65 billion by 2017, according to ABI Research. This will
include smart meter implementations, upgrades to transmission and distribution
infrastructure.
As smart grid investments boost globally, there would be
demand for data analytics and related services.