According to the article, “Smart Grid Data Analytics Spending to Total More than $34 Billion through 2020, Forecasts Pike Research,” many companies are at the beginning stages of a transformation that will continue into the next decade. They are implementing smart grid technologies and associated enterprise processes to modernize their operational and information systems to be able to handle the enormous volumes of data being created every day at increasingly rapid rates. They do this by deploying advanced metering infrastructure (AMI) and other electronic communications technologies.
The study predicts that the overall world market for smart grid data analytics will grow steadily through 2020, with cumulative worldwide spending from 2012 through 2020 totaling just over $34 billion. The bulk of this spending will occur in Asia Pacific, where annual investment will surpass $2.5 billion by 2020.
When explaining the report, the article states:
“This Pike Research report analyzes the global market opportunity for smart grid data analytics across four key solution segments: meter analytics, grid analytics, asset analytics, and renewables integration for business intelligence, operations, and customer management. The report provides a comprehensive assessment of the demand drivers, business models, policy factors, and technology issues associated with the rapidly-developing market for smart grid data analytics. Key industry players are profiled in depth and worldwide revenue and capacity forecasts, segmented by application and region, extend through 2020.”
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