According to a new report from research firm Pike Research (News - Alert), the worldwide market for smart grid data analytics is on track to grow steadily all the way through until 2020. All told, global cumulative spending is expected to hit somewhere around $34 billion between 2012 and 2020.
Entitled "Smart Grid Data Analytics," the report goes on to specify that a large part of this spending will occur in the Asia Pacific region, in which annual investments will reach over $2.5 billion by 2020. The region is expected to see early growth rates of over 50 percent with an overall compound annual growth rate of 25 percent in the next eight years.
As is the case in most technology sectors, China's aggressive expansion is expected to lead Asia Pacific's smart grid spending. According to the report, it's unclear right now which drivers will be most important to China in deploying analytic solutions.
Meanwhile, in North America, demand for smart grid technologies will be driven by more electric utilities adopting the technology, driving demand for data analytics. Furthermore, government policies and pressure to raise caps on renewable resources will inform the growth of the North American analytics market in 2017.
Europe's market share will grow between now and 2020, according to the report, led by the continuing deployment of advanced metering infrastructure, which is expected to make up about 80 percent of all metering by 2020... Read More
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