Grid Operations Management Software Market – Overview
Globally, electric grid network operators have to face many challenges for the transmission and distribution of electricity safely. Grid operations management software helps to manage, operate, and deliver generated electrical energy to distribution systems safely. Grid operations involve the remote monitoring of energy generation assets.
Grid operations management software provides utility and energy organizations with analytical and operational capabilities to improve distribution and network operations performance. Utility companies are embarking on a new wave of process and technology adoption to improve reliability and service. Further, integrated grid management systems integrate functionalities such as distribution management, key operational control systems for outage management, geographic information, asset and workforce management, and other services. Many companies are working to improve electric operations and emergency management. For instance, Accenture worked with information sources departments and electricity operations and emergency management government departments to deploy advanced technology in order to improve processes. Additionally, the National Corporation of the Philippines partnered with Schneider Electric to deploy enterprise data management software in order to optimize grid operations.
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Grid Operations Management Software Market – Drivers & Restraints
The global grid operations management software market is expanding at a rapid pace. Demand for automated workflow is on the rise among utility companies as it reduces downtime and improves distribution and network operations performance. Further, electric utilities are investing in advanced grid technologies, which include distribution management systems for power quality, data security, reliability, renewable energy use, and resilience to natural disasters. Demand for grid operations management software is projected to rise in the near future, owing to an increase investment in advanced technology in electric utilities. Rise in the adoption of Big Data in grid operations management software is anticipated to drive the grid operations management software market. However, data regulations and standards are likely to hinder the grid operations management software market. Electric utilities are introducing advanced applications by investing in Internet of Things (IoT) and analytics.
Grid Operations Management Software Market – Segmentation
The global grid operations management software market can be segmented based on deployment model, enterprise size, and region. Based on deployment model, the global grid operations management software market can be categorized into on-premise and cloud-based software. In terms of enterprise size, the global grid operations management software market can be classified into small & medium and large enterprises. In the electricity industry, some of technology trends that are expected to drive the grid operations management market are digitization, electrification, and decentralization.
The market is anticipated to expand due to deployment of smart metering and increase in demand for system integrators and cloud-based solutions in the near future. An increase in the adoption of IT solutions in the utility sector is projected to leverage operational and customer data in order to automate grid control and maintenance functions.
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Based on region, the global grid operations management software market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. These geographic regions are further analyzed at the country level, wherein top countries across North America include the U.S. and Canada. Europe includes market analysis across the U.K., Germany, France, and the Rest of Europe. Similarly, the market in Asia Pacific is studied and analyzed across India, China, Japan, Australia, and the Rest of Asia Pacific. The top countries in the Middle East and Africa and South America include GCC countries, South Africa, and Brazil. Further, demand for grid operations management software market from Asia pacific, Middle East & Africa, and South America is estimated to rise due to increase in awareness about the benefits of Big Data analytics among enterprises operating in the utility industry.
Grid Operations Management Software Market – Key Players
Major companies operating in the global grid operations management software market include Accenture, Capgemini S.A., EMC Corporation, Hewlett-Packard Company, IBM Corporation, Oracle Corporation, SAP AG, SAS Institute, Inc., Schneider Electric, and Siemens AG.