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EMS Segment Will Continue to Dominate the Global Smart Grid IT Systems Market Until 2020, Says TechnavioAccording to the latest market study released by Technavio, the global smart grid IT systems market is expected to grow at a CAGR of close to 13% during the forecast period. This research report titled 'Global Smart Grid IT Systems Market 2016-2020' provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions. Request sample report: http://goo.gl/c5eFMS Based on application, the report categorizes the global smart grid IT systems market into four segments:
Global smart grid IT systems by energy management system (EMS) An EMS optimizes, supervises, and controls transmission grid and generation assets. The EMS segment will likely see robust growth during the forecast period with the growing adoption of smart grid systems worldwide, which would increase grid reliability and minimize losses. Sayani Roy, a lead analyst at Technavio for research on power sector, says, "With government policies in the US and the EU encouraging decentralized power generation, utilities are increasingly facing challenges in terms of addition of small to medium capacity energy produced by prosumers. This has made utilities depend on systems such as EMS to gain a clear visibility and control of the transmission and distribution grid. Also, this allows utilities to make use of the grid flexibility and optimize grid performance." Global smart grid IT systems by distribution management system (DMS) The DMS segment is expected to experience drastic growth during the forecast period. Utilities now integrate IT and OT systems that previously worked in silos, which led to inaccuracy in the status of the asset and data interpretation. The integrtion has enabled utilities to leverage information about asset management and processes. A DMS integrates all systems of a grid, allowing its key stakeholders to monitor and visualize the business process and asset information. This synchronization helps achieve an optimal balance between the financial results, operational performance, and risk management, thus moving beyond optimizing individual silos to gain a broader competitive advantage. Global smart grid IT systems market by data analytics Billions of dollars are being invested in the deployment and installation of smart grid devices such as AMI, smart meters, and other related technologies to control and manage grids effectively. These technologies provide grid-to home and grid-to-utilities communication, due to which a vast amount of data can be collected. Utilities face the challenge of making the best use of these data. Thus, they are now switching to advanced smart grid data analytics tools and solutions that would help them analyze the data to drive business. These tools are directly connected to the meters installed in individual houses, which can detect any discrepancy in the power flow and prevent power theft. "Data analytics is expected to be highly beneficial for countries like India where millions of dollars are lost due to power theft," adds Sayani. Global smart grid IT systems market by outage management system (OMS) As demand for energy grows, there is immense pressure on utilities to provide constant electricity supply to the masses with fewer outages as possible. Conventionally, a utility would learn about an outage only when a customer reports about it; consequently, the power is restored. However, this process is time consuming and results in high monetary losses. For instance, in the US, utilities incur an annual cost between USD 10 billion and USD 75 billion for power outages. To overcome these losses, utilities employ an OMS to manage the grid and restore power to the grid during service interruptions. OMS enables a utility to identify and predict a potential outage and the extent of an outage, which helps reduce economic impacts. Over the years, OMS has evolved and can be integrated with systems like meter data management systems, bridging the gap between IT and OT systems. The top vendors highlighted by Technavio's research analysts in this report are: Browse Related Reports:
Do you need a report on a market in a specific geographical cluster or country but can't find what you're looking for? Don't worry, Technavio also takes client requests. Please contact [email protected] with your requirements and our analysts will be happy to create a customized report just for you. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected].
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