The global smart grid data analytics market size was US$ 2,961.6 million in 2021. The global smart grid data analytics market size is forecast to reach US$ 7,691.5 million by 2030, growing at a compound annual growth rate (CAGR) of 12.8% during the forecast period from 2022 to 2030.

A smart grid is a new technology that aims to make systems run more efficiently. Smart grid data analytics offer the most cost-effective option for the entire system. Optimize the system and enable utility operators to operate the entire network efficiently by replacing an old system with smart meters, sensors, and automation of the entire system. The data created by all smart meters, sensors, and other automated systems are collected and analyzed in massive quantities. In addition, this data can examine and calculate from production and supply. Smart grid data analytics aids in the collection of useful data generated by all of the devices. 

Factors Influencing Market Growth

• The increasing demand for cost-effective power supplies for customers in the utility sector fuels the global market growth.
• The increased cost of the initial investment in the smart grids system may slow down the overall market growth. 
• The growing automation in industries embracing smart meters, sensors, automated systems in order to organize the data and analyze in a graphical presentation and with high visualization helps understand the system behavior, store the complete data in the cloud, access the data, and makes able to take the conclusion from remote locations for the utility sectors is a major factor driving the global market.

Impact Analysis of COVID-19

The COVID-19 pandemic had a negative impact on the global smart grid data analytics market. Governments worldwide imposed lockdown in order to curb the spread of the COVID-19. In addition, the strict containment standards instructed by the governments resulted in supply chain & logistics disruptions. Additionally, this difficulty caused sourcing raw materials.

Regional Insights

The Asia Pacific region is forecast to have lucrative growth in the market during the forecast period. As a result of the growing population in countries like China, Japan, and India is rising demand for residential infrastructure and electricity consumption. Thus, increasing the demand for electricity in the nations supporting the use of smart grids, which, in turn, is forecast to drive the smart grid data analytics market in the region. 

North America held dominance in the smart grid data analytics market and is forecast to maintain its position during the forecast period. Many smart grid data analytics sellers focus on providing AMI analytics solutions to utility providers in the region. In addition, rising investment in smart grid systems by the U.S. is driving the market growth in the region.

Leading Competitors

The leading prominent companies profiled in the global smart grid data analytics market are:

• AutoGrid Systems Incorporated
• General Electric Company
• IBM Corporation
• Siemens AG
• Itron Incorporated
• SAP SE
• Tantalus System Corporation
• SAS Institute Incorporated
• Hitachi Limited
• Uplight Incorporated
• Uptake Technologies Incorporated
• Oracle Corporation
• Amdocs Corporation
• Landis & Gyr Group AG
• Schneider Electric SE
• Sensus USA Incorporated
• Other Prominent Players

Scope of the Report

The global smart grid data analytics market segmentation focuses on Deployment, Solution, Application, End-Users, and Region.

Segmentation focuses on Deployment

• Cloud-based
• On-premise

Segmentation focuses on Solution

• Transmission and Distribution (T&D) Network
• Metering
• Customer Analytics

Segmentation focuses on Application

• Advanced Metering Infrastructure Analysis
• Demand Response Analysis
• Grid Optimization Analysis

Segmentation focuses on End-Users

• Private Sector
• Public Sector

Segmentation focuses on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America