The report, now available on ASDReports, recognizes the following companies as the key players in the Global Smart Grid Data Management Market: EMC Corp., Oracle Corp., SAP SE, SAS Institute Inc., and Siemens AG.
Other Prominent Vendors in the market are: Capgemini, GE energy, IBM, Itron, Schneider, and Teradata.
Commenting on the report, an analyst said: “Power demand has increased constantly worldwide. Further growth in population and global economy is expected to drive this trend in the future as well. The population rise, an increase in energy demand, and the imposition of stringent emissions norms would require a substantial amount of energy production to sustain the economy growth. The deployment of smart grid enables new power resources such as distributed generation, integration of renewable power and electric vehicles to be integrated into the grid, to meet the power demand.”
According to the report, the power and utility sector is undergoing a major change from a rigid structure to a system that is more focused on flexibility. It is driven by climate change policies, urbanization, and technological breakthroughs. This paradigm shift in the power sector is achieved by the deployment of AMI and SCADA systems, which are making the grid smarter and allowing utilities to have greater control over the functioning of the grid.
Further, the report states that high cost of upgrading smart grids is expected to have a significant impact on the growth of the smart grid data management market during the forecast period.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Source: ASDReports - Market Research
Date: Jul 5, 2016