Market Overview:
The global smart grid IT systems market is expected to grow from USD 9.02 billion in 2018 to USD 16.06 billion by 2030, at a CAGR of 6.5% from 2018 to 2030. The growth of the market can be attributed to the increasing demand for energy efficiency and renewable energy sources, growing concerns about climate change, and rising investments in smart grid infrastructure across the globe. The global smart grid IT systems market is segmented on the basis of type, application, and region. On the basis of type, the market is divided into distributed energy resource management system (DERMS), demand response management system (DRMS), geographic information system (GIS), customer information system (CIS), and others.
Product Definition:
A Smart Grid IT system is a comprehensive information and communication technology infrastructure that enables two-way flows of electricity and data between utilities and their customers. The system uses smart meters to collect data on customer energy use, which is then used to optimize operations, manage demand, and improve the reliability of the grid. The Smart Grid IT system also enables utilities to send real-time pricing signals to customers, who can then make more informed decisions about when to use energy.
Distributed Energy Resource Management System (DERMS):
The Distributed Energy Resource Management System (DERMS) is a software system that controls and monitors the distributed energy resources in an electric utility. It helps to schedule the production of electricity from various sources by using different types of renewable energy including solar, wind, geothermal and biomass. The DERMS provides information on power quality, generation capacity & availability along with load forecast for each distribution transformer in real-time or near real-time manner.
Demand Response Management System (DRMS):
Demand Response Management Systems (DRMS) are a part of the smart grid that is responsible for managing the participation of consumers and electric utilities in an efficient and effective manner. DRMS helps to establish a communication channel between customers and suppliers, which allows both parties to enter into contracts regarding consumption management.
Application Insights:
The commercial sector accounted for the largest market share in 2017 and is anticipated to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing adoption of smart grid IT systems in various sectors such as healthcare, retail, transportation & logistics, etc. Furthermore, growing demand for energy storage systems is also expected to drive the segment over the forecast period.
The industrial sector includes manufacturing facilities that produce electric power using fossil fuels or renewable sources of energy like wind and solar rays along with associated infrastructural developments including transmission lines.
Regional Analysis:
North America dominated the global market in 2017. The growth of the region can be attributed to increasing investments in smart grid infrastructure and growing adoption of innovative technologies across various sectors. Moreover, presence of prominent players such as General Electric; Siemens; Honeywell International Inc.; and Johnson Controls is expected to drive the regional demand over the forecast period.
Asia Pacific is anticipated to witness significant growth over the forecast period owing to rising penetration of advanced energy management solutions coupled with increasing government initiatives for promoting sustainable development in emerging economies including China, India, South Korea, Taiwan among others. Increasing industrialization along with rapid urbanization has led Asia Pacific countries such as China and Japan towards a modernized society thereby driving industry expansion opportunities for Smart Grid IT Systems providers across these regions. Furthermore, favorable government policies aimed at reducing carbon footprints by shifting from fossil fuels towards renewable sources are expected to fuel industry expansion over next eight years (2018-2027).
Growth Factors:
- Increasing demand for energy efficiency and sustainability
- Rapid urbanization and industrialization in developing countries
- Proliferation of smart devices and the Internet of Things (IoT)
- Favorable government policies and regulations for smart grid deployments
- Growing investments in renewable energy sources
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart Grid IT Systems Market Research Report
By Type
Distributed Energy Resource Management System (DERMS), Demand Response Management System (DRMS), Geographic Information System (GIS), Customer Information System (CIS)
By Application
Residential Sector, Commercial Sector, Industrial Sector
By Companies
GE-Alstom, IBM, Siemens, Accenture, Itron, Capgemini, Schneider, Dell EMC, Oracle Corp, SAP SE, SAS Institute, Teradata
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
192
Number of Tables & Figures
135
Customization Available
Yes, the report can be customized as per your need.
Global Smart Grid IT Systems Market Report Segments:
The global Smart Grid IT Systems market is segmented on the basis of:
Types
Distributed Energy Resource Management System (DERMS), Demand Response Management System (DRMS), Geographic Information System (GIS), Customer Information System (CIS)
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Residential Sector, Commercial Sector, Industrial Sector
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- GE-Alstom
- IBM
- Siemens
- Accenture
- Itron
- Capgemini
- Schneider
- Dell EMC
- Oracle Corp
- SAP SE
- SAS Institute
- Teradata
Highlights of The Smart Grid IT Systems Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Distributed Energy Resource Management System (DERMS)
- Demand Response Management System (DRMS)
- Geographic Information System (GIS)
- Customer Information System (CIS)
- By Application:
- Residential Sector
- Commercial Sector
- Industrial Sector
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Smart Grid IT Systems Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Smart Grid IT Systems is a term used to describe the integration of technology into the grid. This includes everything from sensors and data collection to communication and control systems. By integrating these systems, utilities can improve their ability to manage resources, monitor performance, and respond quickly in case of an emergency.
Some of the major companies in the smart grid it systems market are GE-Alstom, IBM, Siemens, Accenture, Itron, Capgemini, Schneider, Dell EMC, Oracle Corp, SAP SE, SAS Institute, Teradata.
The smart grid it systems market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Smart Grid IT Systems Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Smart Grid IT Systems Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Smart Grid IT Systems Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Smart Grid IT Systems Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Smart Grid IT Systems Market Size & Forecast, 2020-2028 4.5.1 Smart Grid IT Systems Market Size and Y-o-Y Growth 4.5.2 Smart Grid IT Systems Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Distributed Energy Resource Management System (DERMS)
5.2.2 Demand Response Management System (DRMS)
5.2.3 Geographic Information System (GIS)
5.2.4 Customer Information System (CIS)
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Residential Sector
6.2.2 Commercial Sector
6.2.3 Industrial Sector
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Smart Grid IT Systems Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Smart Grid IT Systems Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Distributed Energy Resource Management System (DERMS)
9.6.2 Demand Response Management System (DRMS)
9.6.3 Geographic Information System (GIS)
9.6.4 Customer Information System (CIS)
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Residential Sector
9.10.2 Commercial Sector
9.10.3 Industrial Sector
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Distributed Energy Resource Management System (DERMS)
10.6.2 Demand Response Management System (DRMS)
10.6.3 Geographic Information System (GIS)
10.6.4 Customer Information System (CIS)
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Residential Sector
10.10.2 Commercial Sector
10.10.3 Industrial Sector
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Distributed Energy Resource Management System (DERMS)
11.6.2 Demand Response Management System (DRMS)
11.6.3 Geographic Information System (GIS)
11.6.4 Customer Information System (CIS)
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Residential Sector
11.10.2 Commercial Sector
11.10.3 Industrial Sector
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Distributed Energy Resource Management System (DERMS)
12.6.2 Demand Response Management System (DRMS)
12.6.3 Geographic Information System (GIS)
12.6.4 Customer Information System (CIS)
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Residential Sector
12.10.2 Commercial Sector
12.10.3 Industrial Sector
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Distributed Energy Resource Management System (DERMS)
13.6.2 Demand Response Management System (DRMS)
13.6.3 Geographic Information System (GIS)
13.6.4 Customer Information System (CIS)
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Residential Sector
13.10.2 Commercial Sector
13.10.3 Industrial Sector
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Smart Grid IT Systems Market: Competitive Dashboard
14.2 Global Smart Grid IT Systems Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 GE-Alstom
14.3.2 IBM
14.3.3 Siemens
14.3.4 Accenture
14.3.5 Itron
14.3.6 Capgemini
14.3.7 Schneider
14.3.8 Dell EMC
14.3.9 Oracle Corp
14.3.10 SAP SE
14.3.11 SAS Institute
14.3.12 Teradata