Editoria e Media
Growth Opportunities and Challenges for Optimizing the Electric Grid through Data Analytics
Upcoming research on smart grid analytics from Frost & Sullivan's Energy team reveals that management and optimization of T&D assets currently represent the largest opportunities and demand for solutions. The intensifying pressure to maintain power uptime in the face of winter storms and other severe weather conditions is encouraging utilities to closely re-evaluate and re-strategize planning of their existing infrastructure that enables a smooth transition from descriptive to prescriptive analytics. In addition, utilities need to prepare for projected grid vulnerabilities caused by intermittent renewable and distributed power and peak load as a result of electric vehicle uptake. Preparations have been in progress for over a decade in terms of integrating outage analytics, power quality optimization, network monitoring, and smart meters, among other tools. However, the majority of the data collected today is unstructured, with only 2 percent to 4 percent of data being used for actual analytics, creating untapped opportunities for developing new products and solutions.
"Our research indicates that smart grid analytics has the potential to reach $2.30 billion by 2025, supported by growing deployment of intelligent energy devices, smart meters, customer endpoints, distribution and substation automation as well as demand-side management," said . "Although North America currently leads in sales, growth from APAC is expected to accelerate the quickest during the forecast period."
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Jaylon Brinkley
Frost & Sullivan
+1 (210) 247 2481
jaylon.brinkley@frost.com