ReportsnReports.com adds Global Smart Grid Data Management Market 2016-2020 latest research report, power demand has increased constantly worldwide. Further growth in population and global economy is expected to drive this trend in the future as well. The population rise, an increase in energy demand, and the imposition of stringent emissions norms would require a substantial amount of energy production to sustain the economy growth. The deployment of smart grid enables new power resources such as distributed generation, integration of renewable power and electric vehicles to be integrated into the grid, to meet the power demand. The analysts forecast global smart grid data management market to grow at a CAGR of 13.85% during the period 2016-2020.
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According to the smart grid data management market report, the power and utility sector is undergoing a major change from a rigid structure to a system that is more focused on flexibility. It is driven by climate change policies, urbanization, and technological breakthroughs. This paradigm shift in the power sector is achieved by the deployment of AMI and SCADA systems, which are making the grid smarter and allowing utilities to have greater control over the functioning of the grid.
Segmentation by application and analysis of the smart grid data management market
Generation and transmission
During 2015, the distribution segment dominated the market and accounted for more than 58% of the market share. Factors such as the extension of T&D lines for improving electrification rate will drive the smart grid device installation in the distribution sector. This segment is envisaged to account for close to 60% of the market share by the end of 2020.
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The Americas dominated the market for data management systems with more than 64% of the market share during 2015. The market in this region is expected to grow rapidly over the forecast period owing to increasing investments in the smart grid systems and demand response programs. Demand response programs help utilities and IPPs shift or reduce power consumptions according to the peak and non-peak load periods. Moreover, the modernization of the power sector in South American countries to improve operational efficiency, reduce power theft, and improve the grid reliability will impel the growth prospects for this market in the Americas.
The smart grid data management market is characterized by the presence of several well-established vendors. In a few regions, local and regional vendors dominate the market, and large vendors have to deal with competitors. Large vendors have advantages like access to extensive capital and R&D funds, which allows them to develop new technologies.
Key players in the Global smart grid data management market: EMC Corp., Oracle Corp., SAP SE, SAS Institute Inc., and Siemens AG.
Other Prominent Vendors in the market are: Capgemini, GE energy, IBM, Itron, Schneider, and Teradata.
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