Growth Opportunities and Challenges for Optimizing the Electric Grid Through Data Analytics
Abundance of Unstructured Data Creates Need to Roll out Smart Grid Data Analytics
Frost & Sullivan invites you to join Farah Saeed, Research Director | Digital Grids at Frost & Sullivan on Thursday, April 11, 2019, at 9 AM ET for the upcoming Frost Webinar, Growth Opportunities and Challenges for Optimizing the Electric Grid through Data Analytics, to learn what types of data analytic solutions are gaining the most traction and to receive insight on market growth projections by region for smart grid 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 Saeed. “Although North America currently leads in sales, growth from APAC is expected to accelerate the quickest during the forecast period.”
Key takeaways of the webcast include:
- Gain in-depth market perspective on what the future holds for smart grid analytics
- Learn what type of data analytic solutions are gaining the most traction in the market
- Discover why the industry needs to invest in and embrace smart grid analytics
- Identify untapped opportunities by geographic regions for smart grid analytics