The Report Big Data in Power Management
Market - Global Drivers, Restraints, Opportunities, Trends, and Forecasts to
2023 gives a detailed analysis on the role big data plays in the
global power management market. Big
Data has conquered many walks of our lives – be it transportation, strategy,
finance, insurance and services. It has revolutionised the way things are
invented, reinvented, branded and positioned and has gone a long way in helping
businesses collect, analyse and channelize the data. Big data has been a boon
to the power sector, though it has lagged behind in comparison to other
sectors. One of the major issues face by the power industries is balancing the
demand and supply of electricity and big data has been successful in tackling
this to an extent by employing digital meters, which has also lead to cleaner
distribution of energy.

Like governments from across the world, data
-sharing agreements have allowed researchers to study real – time electricity usage
through a specific utility tariff. These analyses suggest
that utility consumers benefit more from time – based pricing structures. Big
data has been able to deliver such valuable insights. With climate changes a
major concern, it is more important for the researchers and policymakers to
determine with greater accuracy how and when consumers use electricity and big
data is the path to reach the goal. The challenges ahead include the support
from governmental authorities to provide resources for researchers to access
data.

Another way big data has been and will
continue to help utilities sector is predictive maintenance. Many providers often
schedule the maintenance on equipment. This can be extremely expensive; while
employing big data can help in making this process cost efficient and reduce
disruptions in production. This is believed to be one of the major ways big
data can change the utilities market.

To know more, click on the link
below:

https://www.kenresearch.com/technology-and-telecom/it-and-ites/big-data-power/173204-105.html

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