DUBLIN--(BUSINESS WIRE)--The "Global Big Data in Power Sector Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The imbalance in electricity demand and supply is driving the demand for a smart solution, like big data. Big data has helped utility companies to track consumption pattern and forecast, to accordingly shift the supply in both space and time, hence, resulting in efficiently utilizing assets.
Smart grid market is maturing. In 2016, utility companies invested more than USD 10 billion to deploy smart meters pushing the total installed number to 700 million. This has resulted in more than 100 petabytes of data per year. More than half of the deployment was in China, while the rest of the world installed more than 50 million in 2016.
In the US, companies in the electricity sector have installed 65 million smart meters, covering more than 50% of the total households, in 2015. Deployment reached approximately 70 million smart meters by the end of 2016, and is projected to reach 90 million by 2020. Utilities in the country are increasingly using big data for better decision making.
Benefits of big data technologies in big wind farms are currently not on the as much as in demand management, energy storage, and distributed generation sectors, but big data technology adoption in the power sector is expected to increase in the coming years. The incremental yield improvement is expected to be in the order of 1-5%.
- International Business Machines Corporation (IBM)
- SAP SE
- Palantir Technologies Inc.
- Oracle Corp.
- EnerNoc Inc.
- Siemens AG
- C3 Inc.
- Accenture PLC
Key Topics Covered:
1. Executive Summary
2. Research Methodology
3. Market Overview
4. Market Dynamics
5. Supply Chain Analysis
6. Industry Attractiveness - Porter's Five Forces Analysis
7. Market Segmentation and Analysis
8. Regional Market Analysis
9. Key Company Analysis
10. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/research/dfv7fv/global_big_data?w=4