Smart Grid Market is expected to reach US$ 51.23 Bn by 2026 from US$ XX Bn in 2019 at a CAGR of XX %.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Appearing digitalization is becoming a highlighting factor for deployment of modernized equipment and technologies in the energy sector. Loss of value due to defects in grid and energy distribution and metering is creating huge business opportunities for smart grid component manufacturers, installers and service providers. Rise in power generation sector and swelled energy consumption is awakening the need for smart grids across the globe. Increase in the improvement of smart meters and the growing complexity of cyber threats are further anticipated to provide opportunities to cybersecurity companies to target their services towards power companies over the upcoming years.
Growing energy demand accompanied by rising in concerns pertaining to unplanned power outages and environment protection will drive the smart grid market growth. Increased demand for integration of renewable energy sources across the globe, and government policies and mandates for sustainable energy are some of the driving factors for the smart grid market. Smart grid installation is a lavish exercise. The total cost of replacing it with the smart grid is expected to be more than US$ 5 trillion. The high installation cost is expected to be a critical factor in the improvement of smart grids, specifically in the developing nations. Additional, the deployment of new generation sources, such as wind, rooftop solar as well as a new end-user base, such as electric vehicles, are expected to reach the need for infrastructural requirements further, thereby, increase in capital expenditure required for smart grid installation.
Smart Grid Market is segmented into software, hardware, services, and region. On the basis of software, the smart grid software segment is estimated to hold the largest market share. The opportunity of the smart grid software covers Advance Metering Infrastructure, smart grid distribution management, smart grid communication, grid asset management, substation automation, and billing and customer information system. There have been huge revenue losses caused due to energy loss and theft, resulting in power outages, which have increased the need to manage and control energy generation, distribution, and transmission processes. Based on hardware, Sensors for the smart grid is estimated to gain the highest traction in the smart grid market during the forecast period. A sensor is the crucial hardware component that provides real-time data of the electric grid.
Installed in electric grids, sensors develop utility operation and performance. By services, the deployment and integration services segment is projected to have the largest market share and estimated to grow at the highest CAGR during the forecast period. Deployment and integration services aid in reducing the deployment and integration time. These services are pivotal for developing end-to-smart grid solutions for the power and energy utilities. The increase in requirement for upgrading traditional smart grid systems to support various smart cities and smart grids drives the deployment and integration services segment in the smart grid market.
In terms of region, North America is projected to hold the largest market share and dominate the smart grid market from 2017 to 2026. 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 grid and control mechanisms. The Middle East and Africa region is in the initial growth phase, it is the fastest-growing region in the global smart grid market.
Some of the key players in the global smart grid market are ABB Ltd, Cisco Systems Inc., Eaton Corporation PLC, General Electric Co., Itron Inc., Oracle Corporation, Osaki Electric Co. Ltd, S&C Electric Company Inc., and Schneider Electric SE.
The Scope of the Smart Grid Market: Inquire before buying
Smart Grid Market, by Software
- Smart Grid Distribution System
- Grid Asset management
- Advanced Metering Infrastructure
- Substation Automation
- Smart Grid Communication
- Billing and Customer Information System
Smart Grid Market, by Hardware
- Sensors
- Programmable Logic Controller
- AMI Meter
- Networking Hardware
- Others
Smart Grid Market, by Services
- Consulting
- Support and Maintenance
- Deployment and Integration
Smart Grid Market, by Geography
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- Latin America
Key Players operating in the Smart Grid Market:
- ABB Ltd
- Cisco Systems Inc.
- Eaton Corporation PLC
- General Electric Co.
- Itron Inc.
- Oracle Corporation
- Osaki Electric Co. Ltd
- S&C Electric Company Inc.
- Schneider Electric SE
- Siemens AG
- Hitachi Ltd
- Landis+Gyr
- Aclara Technologies LLC
- Open Systems International, Inc.
- IBM Corporation
- Wipro Ltd.
- Eaton Corporation Plc
- Kamstrup A/S
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The newly added Smart Grid market research report by Value Market Research disclose all the important information associated with the market such as value, growth factor, trends, market share, size, and challenges for the forecasted timeline 2020-2027.
Basically, this report is designed to give a proper understanding of industry structure and competition intensity attractiveness.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Smart Grid Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/smart-grid-market/download-sampleMarket DynamicsThe rising government support in the form of funding and favorable policies are driving market growth.
Modernization of existing grid infrastructure with improved grid reliability and efficient outage response is again accelerating the market growth.
On the other hand, high initial costs for deployment and cybersecurity and vulnerabilities associated with the smart grid technology solutionmay hamper market growth.
Whereas, upcoming smart cities projects in developing regions are expected to offer an opportunity over the forecast period.This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis.
The Global Smart Grid Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.The comprehensive value chain analysis of the market will assist in attaining better product differentiation, along with detailed understanding of the core competency of each activity involved.
The market attractiveness analysis provided in the report aptly measures the potential value of the market providing business strategists with the latest growth opportunities.The report classifies the market into different segments based on solution and service.
These segments are studied in detail incorporating the market estimates and forecasts at regional and country level.
The segment analysis is useful in understanding the growth areas and probable opportunities of the market.Final Report will cover the impact of COVID-19 on this industry.Browse the complete Global Smart Grid Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 @ https://www.decisiondatabases.com/ip/8793-smart-grid-market-reportThe report also covers the complete competitive landscape of the global Smart Grid market with company profiles of key players such as:Schneider Electric SESiemens AGABB GroupCisco Systems, Inc.General Electric CompanyIBM CorporationItron, Inc.Landis+Gyr AGOracle CorporationOpen Systems InternationalA detailed description of each has been included, with information in terms of H.Q, future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other latest industrial developments.SEGMENTATIONS IN THE REPORT:By Solution:Advanced Metering InfrastructureSmart Grid Distribution ManagementSmart Grid CommunicationGrid Asset ManagementGeographic Information SystemBilling and Customer Information SystemBy Service:ConsultingDeployment and IntegrationSupport and MaintenanceBy Geography:North AmericaEuropeAsia PacificLatin AmericaMiddle East And AfricaDownload Free Sample Report of Global Smart Grid Market @ https://www.decisiondatabases.com/contact/download-sample-8793The Global Smart Grid Market has been exhibited in detail in the following chapters –Chapter 1 Smart Grid Market PrefaceChapter 2 Executive SummaryChapter 3 Smart Grid Industry AnalysisChapter 4 Smart Grid Market Value Chain AnalysisChapter 5 Smart Grid Market Analysis By SolutionChapter 6 Smart Grid Market Analysis By ServiceChapter 7 Smart Grid Market Analysis By GeographyChapter 8 Competitive Landscape Of Smart Grid CompaniesChapter 9 Company Profiles Of Smart Grid IndustryPurchase the complete Global Smart Grid Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-8793Other Reports by DecisionDatabases.com:Global GCC Geotextiles and Geogrids Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Geogrid Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
DecisionDatabases.com is proficient in providing syndicated research report, customized research reports, company profiles and industry databases across multiple domains.Our expert research analysts have been trained to map client’s research requirements to the correct research resource leading to a distinctive edge over its competitors.
Bharat Book Bureau Provides the Trending Market Research Report on “Global Smart Grid Market Size Study, By type, By Application and Regional Forecast to 2021-2026” under Energy Market Research Reports Category.
The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.The Smart Grid Market is projected to reach USD 103.4 billion by 2026 from an estimated USD 43.1 billion in 2021, at a CAGR of 19.1% during the forecast period.
Governments worldwide are undertaking many initiatives to meet the future electricity demands and focusing on reducing carbon footprint by promoting the use of renewable energy sources to produce energy.
Increasing need of efficiency and stability of electric grid are expected to offer lucrative opportunities for the smart grid market during the forecast period.
The smart grid software helps ensure effective management of smart grid operations, improves process efficiency, and reduces energy production costs; hence, the segment captures the major market share.“Distribution segment by application is expected to emerge as the largest segment for smart grid implementation”The distribution segment, by application, is projected to hold the highest market share during the forecast period.
Distribution feeders transport power from the distribution substations to end users, serving many premises.
According to IMARC Group’s latest report, titled “Smart Grid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global smart grid market exhibited strong growth during 2015-2020.
A smart grid is an electronic network that uses a two-way digital com munication system to supply electricity.
Smart grid primarily includes smart sensors and power meters to automate billing data collection and detect system failures.
Furthermore, smart grid can automatically repair its components along with ensuring consistent power supply and promoting consumer engagement in grid operations.
These properties of smart grid aid in improving the overall performance and reducing electricity generation costs.Request for a PDF sample of this report: https://www.imarcgroup.com/smart-grid-market/requestsampleThe emerging trend of digitalization in the energy sector, along with the growing number of high-end infrastructures across the globe, is primarily augmenting the market growth.
Furthermore, the rising upgradation of existing power infrastructures with software-based, smart solutions is also propelling the demand for smart grid.
