Navigant Research Report Shows Global Revenue for Predictive Analytics for Distributed Generation is Expected to Exceed $287 Million through 2027
Aug. 21, 2018
BOULDER, Colo.--(BUSINESS WIRE)--Aug 21, 2018--A new report from Navigant Research examines the global market for predictive analytics deployment for fossil fueled distributed generation systems (PADG), providing market forecasts broken out by segment and region, through 2027.
The trend of predictive analytics (PA) is spreading across industries, and despite limited success in fossil fueled distributed generation systems, Navigant Research predicts significant growth in PADG as digitization of energy accelerates and ubiquitous connectivity arrives. PADG is defined as applying machine learning algorithms to operational datasets collected from distributed generators to predict component or system failures before they happen, allowing for optimized maintenance and decreased unplanned downtime. Click to tweet: A new @NavigantRSRCH report shows fast growth in predictive analytics for distributed generation, growing at 36% CAGR through 2027.
“In an industry traditionally focused on mechanical performance, PADG creates a digital twin of the rotating equipment that can be monitored, modeled, and manipulated to enhance system operation,” says Adam Forni, senior research analyst with Navigant. “Customers adopt PADG for increased uptime and optimized maintenance, but the path to widespread deployment of PA is capturing adjacent use cases of digitization, including real-time monitoring, asset and fleet management, and energy use cases like virtual power plant revenue.”
According to the report, the key drivers for PADG are demand for reliable onsite generation, the increased digitization of such systems, and the need to maximize returns of such systems. As traditional generators are increasingly digitized, Navigant Research expects significant business model innovation from vendors relating to customer data that could be used to differentiate their offerings and increase future business.
This Navigant Research report, , analyzes the global market for PA deployment for diesel and natural gas reciprocating gensets, small turbines below 20 MW, and microturbines. The study examines five segments: commercial and industrial (C&I) standby, C&I prime and continuous, C&I combined heat and power, utility, and resource extraction. Global market forecasts, broken out by segment and region, extend through 2027. The report also analyzes the key market drivers and barriers and enabling technologies related to PADG and provides an overview of the PADG value chain and business cases. 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 Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Predictive Analytics for Distributed Generation ,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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CONTACT: Navigant Research
Stefanie Bradtner, +49.221.270.70.142
KEYWORD: UNITED STATES NORTH AMERICA COLORADO
INDUSTRY KEYWORD: ENERGY ALTERNATIVE ENERGY UTILITIES OTHER ENERGY TECHNOLOGY SOFTWARE
SOURCE: Navigant Research
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PUB: 08/21/2018 05:15 AM/DISC: 08/21/2018 05:15 AM