Global Smart Grid Data Analytics Market to Reach USD 6.2 Billion by 2033, Fueled by Expanding Establishment of Smart Grids

December 20, 2024 | Technology & Media

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According to the latest report by IMARC Group, titled “Smart Grid Data Analytics Market Report by Solution (Transmission and Distribution (T&D) Network, Metering, Customer Analytics), Deployment (Cloud-based, On-premises), Application (Advanced Metering Infrastructure Analytics, Demand Response Analysis, Grid Optimization Analysis, and Others), End Use Vertical (Private Sector (SMEs and Large Enterprises), Public Sector), and Region 2025-2033,” the global smart grid data analytics market size reached USD 2.7 Billion in 2024. Smart grid data analytics refers to collecting, processing, and analyzing enormous amounts of data generated by smart grids. These modernized versions of traditional power grids come with advanced metering infrastructure (AMI), including smart meters that generate a wealth of data on power consumption patterns, grid conditions, and potential faults in real time. Analytics aims to harness this data to improve operational efficiency, demand forecasting, energy management, and outage detection. By analyzing smart grid data, utilities can balance power production and demand more effectively, reducing energy waste and lowering operational costs. This data can also be used to predict equipment failures, enabling preventive maintenance and enhancing service reliability. Additionally, by providing insight into consumer usage patterns, these analytics can help tailor energy services to individual customer needs.

Global Smart Grid Data Analytics Market Trends:

The surge in demand for smart grid data analytics, spurred by the growing global push towards energy efficiency and renewable energy integration, is primarily driving the market growth. Smart grid data analytics tools are crucial in these efforts, allowing utilities to optimize grid operations, identify inefficiencies, and facilitate the integration of renewable energy sources. Besides this, the expanding digital transformation of the energy sector, particularly the transition from traditional grid systems to smart grids, is generating massive amounts of data from smart meters, sensors, and other the internet of Things (IoT) devices, which requires advanced analytics for effective management and utilization. Moreover, ongoing technological advancements, particularly in artificial intelligence (AI) and machine learning (ML) platforms, have enabled predictive and prescriptive analytics, which identify trends and anomalies and offer future projections and recommendations, thereby elevating the effectiveness of decision-making processes in the energy sector. In addition to this, the increasing concerns about cybersecurity, with the proliferation of connected devices and digital platforms in energy networks, are propelling the demand for analytics tools to help detect and respond to such threats, enhancing the security and resilience of smart grids. Furthermore, the implementation of favorable regulatory policies and government initiatives promoting smart grid installations and clean energy are bolstering the market growth. Looking forward, the market value is projected to reach USD 6.2 Billion by 2033, expanding at a CAGR of 9.02% during 2025-2033.

Market Summary:

On the basis of the solution, the market has been divided into transmission and distribution (T&D) network, metering, and customer analytics.
Based on the deployment, the market is bifurcated into cloud-based and on-premises.
On the basis of the application, the market has been segregated into advanced metering infrastructure analytics, demand response analysis, grid optimization analysis, and others.
Based on the end use vertical, the market is categorized into private sector (SMEs and large enterprises) and public sector.
On a regional basis, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has also been examined, with some of the key players being Accenture plc, AutoGrid Systems Inc., General Electric Company, International Business Machines Corporation, Itron Inc., Landis+Gyr (Toshiba Corporation), SAP SE, SAS Institute Inc., Schneider Electric SE, Sensus USA Inc. (Xylem Inc.), Siemens AG and Tantalus System Corporation.

Report Scope:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Solution, Deployment, Application, End Use Vertical, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Accenture plc, AutoGrid Systems Inc., General Electric Company, International Business Machines Corporation, Itron Inc., Landis+Gyr (Toshiba Corporation), SAP SE, SAS Institute Inc., Schneider Electric SE, Sensus USA Inc. (Xylem Inc.), Siemens AG and Tantalus System Corporation.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Smart Grid Data Analytics Market to Reach USD 6.2 Billion by 2033, Fueled by Expanding Establishment of Smart Grids

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