Tomorrow, GTM Research will publish its latest report, The Soft Grid 2013-2020: Big Data & Utility Analytics for Smart Grid. Below is an excerpt from the report's market forecast for utility analytics. To learn more, visit www.greentechmedia.com/research/report/the-soft-grid-2013.
While there has been a period of “pilotitis” with respect to the hardware spend in smart grid deployments, GTM Research expects utility analytics to find an easier pathway to adoption by virtue of its remarkable return on investment (ROI).
FIGURE: U.S. Utility Analytics Spending and Market Penetration, 2012 to 2020
Source: The Soft Grid 2013-2020: Big Data & Utility Analytics for Smart Grid
GTM forecasts $322.5 million to be spent on analytics in the U.S. in 2012, reaching $1.4 billion by 2020, with a cumulative $8.2 billion to be spent between now and 2020.
GTM Research expects the lion’s share of spending on smart grid analytics will begin in the United States. Over time, Europe, Asia Pacific, and Latin America will increase their spending on a percentage basis relative to the U.S., but we expect the U.S. to account for 45 percent of the global market share in 2012, with Europe and Asia Pacific each taking 25 percent and Latin America claiming the balance.