Original Source: http://www.webmarketingindia.org/article/the-smart-grid-utility-data-market/
The volume of Smart Grid data that will have to be managed by utilities over the next few years is going to surge from 10,780 terabytes (TB) of new data created in 2010 to over 75,200 TB in 2015. Managing, analyzing and visualizing that amount of data will be a huge undertaking, creating a global market worth $2.9 billion in 2015.
Smart Grid Utility Data Market
Even this vast amount of data is just the start of the “data tsunami” that utilities will have to manage as more Smart Grid products are installed on the grid. Growing utility awareness of the need to manage this data will drive sales of Smart Grid data management (DM) software over the next five years. The segment will achieve a compound annual growth rate (CAGR) of over 20% between 2010 and 2015, making it the fastest growing segment in the Smart Grid utility data market.
Many utilities are still struggling to understand how the wealth of data generated by Smart Grid technologies can enhance their business model, and which types of Smart Grid software will provide the best return on their investment. While utilities are showing increasing interest in visualization software and outage management systems, it is distribution management systems (DMS) that are expected to provide the best returns. By 2015, SBI Energy estimates almost twice the number of utilities in the U.S. will have a DMS in place compared to 2010.
Mmuch of the Smart Grid funding available worldwide is still hardware focused, particularly for the installation of smart meters. But advanced meters and other sensors are just the fingers of an emerging smarter electrical grid; it is the data that these devices generate and the backend applications that will manage and use that data that will be the nervous system and brain of an active and fully capable Smart Grid.
The Smart Grid Utility Data Market by SBI Energy defines and discusses the data software tools that will be an absolute necessity for utilities as the Smart Grid gains traction. The analysis will include definitions, current product offerings and market detail on the following segments:
Smart Grid Utility Data Market
- Data management and data security software used by the electrical utility market
- System management tools integrating Smart Grid data with both new and legacy control systems to provide automation and fine control of a utility’s electrical grid
- Data analysis software tools that aggregates and provides usable information to utilities from raw Smart Grid data
Along with these product segments, the report provides insight into topics such as data integration, cybersecurity, and adoption of standards that are necessary components for any utility looking to develop its Smart Grid.
Report Methodology:
This report contains both primary and secondary data obtained from government sources, trade associations and publications, business journals, scientific papers, company literature, investment reports, and interviews with industry professionals. Statistics for U.S. and global energy use and Smart Grid funding come from sources such as the U.S. Department of Energy and the International Energy Administration.
What You’ll Get in This Report:
The Smart Grid Utility Data Market provides a concise, focused look on the Smart Grid data and back-end software applications market as it exist today, and shows where the market is moving between 2010 and 2015. The report highlights key players in the Smart Grid industry and pinpoints ways that current and prospective competitors can capitalize on recent trends and spearhead new ones. No other market research report provides both the comprehensive analysis and extensive data that The Smart Grid Utility Data Market offers. Plus, you’ll benefit from extensive data, presented in easy-to-read and practical charts, tables and graphs.
How You’ll Benefit from this Report:
If your company is already doing business related to power generation, data storage or data analysis and management technologies, or is considering making the leap, you will find this report invaluable as it provides a comprehensive package of information and insight not offered in any other single source. You will gain a thorough understanding of the current market for Smart Grid products related to data collection, storage, management and analysis, as well as projected markets and trends through 2015.
This report will help:
- Marketing managers identify market opportunities and develop targeted promotion plans for businesses looking to partner with utilities in a Smart Grid implementation program.
- Research and development professionals stay on top of competitor initiatives and explore demand for utility data management and Smart Grid data management and analytic applications.
- Advertising agencies working with clients in the banking, retail and power generation industries develop messages and images that compel homeowners, businesses and industries to migrate towards alternative energy plans such as time-of-day pricing and demand response.
- Business development executives understand the dynamics of the market and identify possible partnerships.
- Information and research center librarians provide market researchers, brand and product managers and other colleagues with the vital information they need to do their jobs more effectively.
