Smart grid data analytics market to reach $4.2 billion by 2015
Information is the lifeblood of every organization. As utilities transition to the smart grid and expand it over time with the installation of millions of intelligent endpoints including smart meters and other devices, they must address the challenge of how to take advantage of the flood of data that will be generated by these devices, said the research firm.
Marianne Hedin, industry analyst at Pike Research, said: “Smart grid utilities are evolving into brokers of information.
“The ‘data tsunami’ that will wash over utilities in the coming years is a formidable IT challenge, but it is also a huge opportunity to move beyond simple meter-to-cash functions and into more robust business intelligence capabilities, true situational awareness with real-time optimization of their operations, and even predictive analytics.”
Ms Hedin adds that the emerging competitive landscape for smart grid data analytics, like most nascent technology sectors, is highly fragmented with a mix of large, established players and smaller, specialized firms that come from many industries.
Among the large IT players, there are the big, established companies like Accenture, Capgemini, HP, IBM, Microsoft, Oracle, SAIC, SAP, Siemens, and Teradata. Pure-play data analytics companies, mostly with meter data management expertise, include Aclara Software, Ecologic Analytics, eMeter, Itron, Olameter, and NorthStar Utilities.
And other contenders include companies as diverse as Infosys, OPOWER, OSIsoft, Telvent, and Toyota. At this stage of the race, says Ms Hedin, the competitive field is wide open.
Pike Research’s analysis indicates that in 2009, the smart grid data analytics software market was only slightly smaller than the services segment. In the coming years, however, services will continue to grow in market share, and by 2015 will represent approximately two-thirds of utilities’ total spending for data analytics.
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