KEY FINDINGS
The India smart grid data analytics market is projected to grow with a CAGR of 14.51% throughout the forecasted years. The key advances made towards developing smart grids and the rising number of programs and incentives introduced by the Ministry of Power (MoP) are the key drives expected to facilitate the market growth of the country. The base year considered for the market study is 2020, and the estimated period is from 2021 to 2026.
MARKET INSIGHTS
The majority of nations worldwide aim to reduce their carbon emissions in order to minimize ecological degradation. As a result, this has led to the increasing use of renewable sources of energy, namely, tidal, solar, and wind. Utilizing smart grid data analytics facilitates the smooth integration of traditional grids and systems with renewable energy on the basis of technology. Therefore, the rising use of renewable energy across the power sector is a crucial driver fueling the smart grid data analytics market.
India’s power distribution sector has witnessed numerous initiatives launched by the Ministry of Power (MoP) to bring sustainability to DISCOMs operations. This is primarily done by establishing an adaptive, secure, and digitally adept grid ecosystem, providing quality and reliable energy. Globally, smart grid data analytics have been recognized as a vital tool in terms of transforming towards a highly digital as well as a consumer-centric grid, particularly by utilities and policymakers. In this regard, numerous measures have been undertaken by the government of India to accelerate the deployment of smart grids in the country. Therefore, these factors are set to propel the market’s growth over the forecast period.
COMPETITIVE INSIGHTS
Some of the key companies operating in the market are Oracle Corporation, Siemens AG, International Business Machines Corporation, Amdocs Corporation, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments