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The Rise of Smart Grid Analytics Market: A $14.3 billion Industry Dominated by Siemens (Germany), Oracle (US), Schneider Electric (France)| MarketsandMarkets™

Chicago, July 02, 2024 (GLOBE NEWSWIRE) -- The global Smart Grid Analytics Market is projected reaching USD 14.3 billion by 2029 from an estimated USD 7.9 billion in 2024, at a CAGR of 12.4% during the forecast period, according to a new report by MarketsandMarkets™.  The smart grid analytics market is poised for substantial growth, propelled by several key business drivers. Factors such as growing implementation of advanced metering infrastructure, surge in the number of obsolete grid components, and the rising emphasis on energy-efficient solutions and sustainability collectively steer the expansion of the smart grid analytics market. Browse in-depth TOC on "Smart Grid Analytics Market" 288 - Tables 63 - Figures 323 – Pages Download Report Brochure @ Smart Grid Analytics Market Dynamics: Drivers: Consumers and utilities seek to optimize energy usage and reduce environmental impact. Smart grid analytics enable real-time monitoring and management of energy consumption, leading to less waste. Smart grid analytics support integrating renewable energy sources, enhancing grid stability. Restraints: Advanced hardware, software, and skilled personnel are expensive. Upgrading infrastructure, integrating new technologies, and staff training adds financial burden. Smaller utilities may struggle with these costs. Opportunities: Smart grid analytics optimize energy distribution for cities. Improves grid reliability and facilitates renewable energy integration. Enables real-time monitoring and predictive maintenance, reducing downtime and costs List of Key Players in Smart Grid Analytics Market: Siemens (Germany), IBM (US) Oracle (US) Schneider Electric (France) GE Vernova (US) Landis+Gyr (Switzerland) Capgemini (France) Infosys (India) SAP (Germany) Honeywell (US) Request Sample Pages: A significant advancement shaping the smart grid analytics market is the integration of 5G technology, which promises to revolutionize grid communication and data management. 5G's ultra-low latency and high-speed connectivity enable real-time data transfer and advanced analytics, enhancing grid reliability and responsiveness. Additionally, ...