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The Global Market for Smart Grid IT Software and Services Is Expected to Total $142 Billion from 2014 to 2024, According to Navigant Research
[September 02, 2015]

The Global Market for Smart Grid IT Software and Services Is Expected to Total $142 Billion from 2014 to 2024, According to Navigant Research


A recent report from Navigant Research provides a comprehensive overview of the global market for utility smart grid information technology (IT) systems, including global market forecasts for utility smart grid IT software and services through 2024.

As power grid operators and managers address the growing challenges of stability and reliability to the grid, modern IT solutions are increasingly being leveraged to automate control and maintenance functions and to more efficiently engage with customers. These new systems are expected to represent a significant portion of smart grid investment over the next decade as utilities look to take advantage of the granular data they provide. Click to tweet: According to a recent report from Navigant Research, the global market for smart grid IT software and services is expected to total $142 billion from 2014 through 2024.

"Platforms like mobile devices and social media are helping to deliver information to utility managers in a way that has never been possible before," says Richelle Elberg, principal research analyst with Navigant Research. "The information and accessibility these new IT systems provide are giving utilities a newfound ability to improve efficiency, reduce their costs, and interact with their customers."

According to the report, utilities are increasingly requiring field and office workers to have access to system data wherever they go. This change is being driven by utilities' desire for heightened productivity and improved workflow management among workers in the field, and it is assisted by the growing presence of broadband networks and the use of smartphones and tablets, all of which are helping the market to expand.

The report, Smart Grid IT Systems, provides a comprehensive overview of the global market for utility smart grid IT systems. The study discusses the potential benefits and challenges to utilities deploying new IT systems and describes a dozen major utility IT applications. Global market forecasts for utility smart grid IT software and services, segmented by category (software purchases and upgrades, software maintenance fees, services, and software as a service, or SaaS (News - Alert)), application, and region, extend through 2024. The report also provides in-depth profiles of numerous vendors involved in the utility smart grid IT space. An Executive Summary of the report is available for free download on the Navigant Research website.



About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.


About Navigant

Navigant Consulting, Inc. is an independent specialized, global professional services firm that combines deep industry knowledge with technical expertise to enable companies to defend, protect and create value. With a focus on industries and clients facing transformational change and significant regulatory and legal issues, the Firm serves clients primarily in the healthcare, energy and financial services sectors which represent highly complex market and regulatory environments. Professional service offerings include strategic, financial, operational, technology, risk management, compliance, investigative solutions, dispute resolutions services and business process management services. The Firm provides services to companies, legal counsel and governmental agencies. The business is organized in four reporting segments - Disputes, Investigations & Economics; Financial, Risk & Compliance; Healthcare; and Energy. More information about Navigant can be found at navigant.com.

* The information contained in this press release concerning the report, Smart Grid IT Systems, is a summary and reflects Navigant Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.


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