Government policies, legislative mandates, and regional government initiatives for smart meter roll-outs are driving the smart grid market
The smart grid market size is estimated to grow from USD 20.83 billion in 2017 to USD 50.65 billion by 2022, smart grid market at a Compound Annual Growth Rate (CAGR) of 19.4%.
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North America is expected to contribute to the largest market share during the forecast period
North America is expected to hold the largest market share and dominate the smart grid market from 2017 to 2022. The region has been extremely responsive toward adopting the latest technological advancements, such as Advanced Metering Infrastructure (AMI), smart grid distribution management, smart grid communication, and substation automation. The major growth drivers for this region are the large-scale investments in the smart grid and smart cities projects and the need for better smart grids and control mechanisms. The Middle East and Africa (MEA) region is in the initial growth phase; however, it is the fastest-growing region in the global smart grid market. The region has huge reservoirs of conventional and renewable energy sources. Get Direct order to Complete Report Copy on “smart grid market” spread across 177 pages, profiling 12 companies and supported with 73 tables and 48 figures is now available at http://www.reportsnreports.com/purchase.aspx?name=1132655
The market is driven by factors the availability of hardware and connectivity devices at affordable cost, rising need for real-time information system, government policies and legislative mandates, regional government initiatives for smart meter roll-outs, increasing demand for integration of renewable energy sources, and increasing awareness about carbon footprint management.
Smart grid communication software is expected to have the fastest growth rate during the forecast period
The software enables networking abilities in electricity distribution system for improving operations, maintenance, and planning by enabling two-way communication between different components of the utility grid involved in generation, transmission, and distribution.
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The various key smart grid providers discussed in the report are given below:General Electric Company (New York, US), ABB Ltd. (Zurich, Switzerland), Siemens AG (Munich, Germany), Schneider Electric SA (Rueil-Malmaison, France), Itron, Inc. (Washington, US), Landis+Gyr (Zug, Switzerland), Aclara Technologies LLC (Missouri, US), Cisco Systems, Inc. (California, US), Open Systems International, Inc. (Minnesota, US), IBM Corporation (New York, US), Wipro Ltd. (Karnataka, India), Oracle Corporation (California, US), S&C Electric Company (Illinois, US), Eaton Corporation Plc (Dublin, Ireland), Kamstrup A/S (Skanderborg, Denmark), Trilliant Holdings, Inc. (North Carolina, US), NexGrid, LLC. (Virginia, US), Globema (Warsaw, Poland), Tech Mahindra Ltd. (Maharashtra, India), EnerNOC, Inc. (Massachusetts, US), Fujitsu Ltd. (Tokyo, Japan), Infrax Systems Inc. (Texas, US), Esyasoft Technologies Pvt. Ltd. (Karnataka, India), e-Smart Systems Pvt. Ltd. (Delhi, India), Grid4C (Texas, US)
Smart Grid Market Target Audience is:
- Banks, Venture Capitalists, Financial Institutions, And Other Investors
- Companies Related To Electric Power Generation, Transmission, And Distribution
- Energy Associations
- Environment Associations
- Government And Industry Associations
- Government And Research Organizations
- Smart Grid Project Developers
- Instrument Transformer Component Manufacturers, Dealers, And Suppliers
- State And National Regulatory Authorities
- Substation Equipment Manufacturing Companies
The smart grid market has been segmented on the basis of software, hardware, services, and regions. A detailed analysis of the key industry players has been done to provide key insights into their business overviews; products and services; key strategies; new product launches; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated with the smart grid market.
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