PARIS – The global market for smart grid data analytics is expected to grow evenly through 2020, with cumulative worldwide spending over $34 million over the period 2012-2020, according to Pike Research.
In its report, entitled "Smart Grid Data Analytics", Pike Research indicated that Asia Pacific will be mostly responsible for this spending. Annual investment is indeed expected to surpass $2.5 billion by 2020.
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This is due to China’s aggressive deployment of smart meters and its related infrastructure, the market research firm said. At this point, it is unclear which drivers will be most important to that country in deploying analytic solutions. As those drivers become more understood, Pike Research said it is possible that opportunities in Asia could grow at an even faster rate than currently anticipated.
“Smart grids cannot be considered smart without the actionable intelligence to correct deficiencies and introduce efficiencies throughout the power delivery system, from transmission, substation and distribution systems, to the customer side of the meter,” commented research director Carol Stimmel. “The demand for market analytics will only grow stronger as utilities upgrade their systems, and both seasoned providers and new entrants are vying to deliver on the promise of a smarter grid.”
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