Smart Grid Market – Global Opportunities & Forecast, 2020-2027
This study of the market provides an overview of the existing market trends, drivers, restrictions, and metrics and also offers a viewpoint for important segments. The report also tracks product and services demand growth forecasts for the industry. The report mentions growth parameters in the regional markets along with major players dominating the regional growth.
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The report offers detailed profile and
data information analysis of the leading companies in the Smart Grid Market:
·
General Electric
·
ABB
·
Siemens
·
Cisco Systems Inc.
·
Schneider Electric
·
IBM Corporation
·
Landis+Gyr
·
Wipro Limited
·
Oracle
·
Honeywell International Inc.
The key drivers of the Smart Grid Market
are as follows:
The significant factors contributing to the
growth of the global smart
grid market include the rising government focus on decreasing transmission
and distribution losses, along with the growing concern related to the
environmental protection globally. The end-users are looking for an advanced
grid which enables energy conversation and is environment friendly. The smart
grid saves energy through lower consumption, provides better customer services,
and more accurate bills. It also helps in fraud detection and technical losses.
The manufacturers are mainly investing in the digital electricity
infrastructure, which will further create various growth opportunities in the
market. For example, in 2018, Natural Resource Canada financed USD 949,000 in
the next-generation smart grid project. This project is mainly focusing on the
adoption of renewable sources of energy and the implementation of technology to
integrate new sources of clean energy. All these investments will bring a
drastic increase in the global smart grid market. On the other hand, limited
standardization and increase in privacy & security concerns will hamper the
growing demand of the market during the forecast period.
Based on the region, the Asia-Pacific
region is expected to dominate the market during the forecast period. China is
the leading player in the smart grid market. The growing government’s
initiatives to support the usage of smart grid systems, coupled with the large
presence of market players are the key driver propelling the market growth in
this region. For example, in India, the Ministry of Power introduced the India
Smart Grid Forum (ISGF) initiative focusing on encouraging the development of
smart grid infrastructure in the power sector.
The study objectives of this report are:
1.
To study and forecast the size
of the market.
2.
To analyze the key players,
SWOT analysis, value, and market share for the leading players.
3.
To define, describe, and
forecast the market by different segments.
4.
To analyze the market potential
and advantage, opportunity and challenge, restraints and risks.
Segmentation of the Smart Grid Market:
Breakup by Component:
·
Software
o
Advanced Metering Infrastructure
§ Meter Data Management
§ Analytics
o
Smart Grid Distribution Management
§ Supervisory Control and Data
Acquisition
§ Demand Response Management
§ Outage Management
§ Distributed Energy Resource
Management
§ Energy Management System
§ Distribution Automation
o
Smart Grid Network Management
§ Network Traffic Management
§ Network Device Management
§ Network Configuration
Management
§ Network Security Management
§ Network Performance
Monitoring Management
o
Grid Asset Management
§ Condition and Performance
Monitoring
§ Predictive Maintenance
§ Asset Data Management
o
Substation Automation
§ Production Management
§ Performance Management
o
Smart Grid Security
o
Billing and Customer Information System
·
Hardware
o
Smart Meter
·
Services
o
Consulting
o
Deployment & Integration
o Support & Maintenance
Breakup by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining
countries of the LAMEA region)
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