The Smart Gas Market is expected to grow from $11.25 Billion in 2017 to $21.75 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 14.1% during the period of 2017–2022, as per a report by MarketsandMarkets.
How cloud-based services would offer numerous opportunities due to huge amount of data generation?
IoT as a technology involves storing, managing, and analyzing data in real time. Cloud platforms present a perfectly cost-effective and easily deployable alternative for this issue to eliminate the need for building on-premises data centers. While IoT is all about connected devices that produce a huge amount of data, the cloud platform enables analytics derive value from the data. Cloud computing technologies are providing smart gas solution vendors a way to connect smart gas solutions installed at the control center to IoT-enabled devices. This capability would help end-users to build IoT-based sense and respond systems quickly and economically.
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The cloud platform is considered to be a secure platform for the storage as well as computation of such massive amounts of data. Cloud also provides a unified platform that manages service lifecycle and organizes deployment. The emergence of IoT Platform as a Service (PaaS) deployment opportunities has increased the deployment of IoT solutions across the entire gas infrastructure. The cloud platform can help in deploying various solutions that provide gas utility companies with new ways of connecting traditional information systems to IoT-enabled devices.
Why difficulties in integration of smart solutions with analytics capabilities over legacy systems and networks present a challenge?
Smart gas solution is an integration of different technology elements, such as hardware, software, and network elements that can be complex to configure sometimes. Integration of different hardware devices, such as distributed acoustic sensor, distributed temperature sensors, smart meters, network switches, and valves along with smart gas solutions over the legacy system infrastructure may become complex. Furthermore, legacy systems are unable to integrate with the new generation smart gas devices due to protocol issues. Hence, traditional and legacy systems are not capable enough to communicate efficiently with the technologically advanced systems. The integration complexities are expected to hinder the market growth in the coming years. In addition, IT and network security restrictions to reduce privacy intrusion and data breaches are projected as the major restraints to the development and deployment of smart gas solutions.
The major vendors covered in the smart gas market for this study include ABB Group (Zurich, Switzerland), Aclara Technologies LLC (Hazelwood, Missouri), Badger Meter, Inc. (Wisconsin, U.S.), Cap Gemini S.A. (Paris, France), CGI Group Inc. (Montreal, Canada), Diehl Stiftung & Co KG (Nuremberg, Germany), Elster Group GmbH (New Jersey, U.S.), General Electric Company (Massachusetts, U.S.), IBM Corporation (New York, U.S.) Itron Inc. (Washington, U.S.), Landis+Gyr (Zug, Switzerland), Oracle Corporation (California, U.S.), Schneider Electric SE (Rueil-Malmaison, France), Sensus (North Carolina, U.S.), Silver Spring Networks, Inc. (California, U.S.), and Verizon Communications, Inc. (New York, U.S.).
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