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Smart Grid Market (Technology - Advanced Metering Infrastructure, Software and Hardware, Communication Technologies, Distribution Automation, Transmission Upgrades, and Cyber Security; Region - North America, Europe, Asia-Pacific, and Rest of the World): Global Industry Analysis, Trends, Size, Share and Forecasts to 2024

  • Published : August, 2018

  • Rep Id : EIM0160

  • Category : Energy, Mining and Infrastructure

  • Status : Published

This report provides exclusive insights into the COVID-19 impact on the Smart Grid Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Smart Grid Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Smart Grid Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.

A recent report published by Infinium Global Research on the smart grid market provides an in-depth analysis of segments and sub-segments in global as well as regional smart grid market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional smart grid market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global smart grid market. According to the report, the global smart grid market is projected to grow at a CAGR of 17.5% over the forecast period of 2018-2024.


Smart Grid Market

 

Market Insight

The smart grid is the term, refers to the electric network contains various electric components including transmission lines, transformers, substation and several other components that help to deliver electricity from the power plant to the consumer. The smart grid is the reliable and efficient digital technology that uses intellectual two-way digital communication and delivers power through the integration of renewable energy sources, smart transmission and distribution system. The smart grid enables real-time monitoring, analysis, and control of the power system that further helps to improve efficiency, minimize the transmission and distribution loss, and reduce energy consumption and cost.

 

The conventional electricity system may blackout due to some electricity disturbances that can majorly affect banking, communications, traffic, and security systems. The smart grid system is able to handle the electricity conflicts caused by storms, earthquakes, large solar flares, and terrorist attacks by allowing for automatic rerouting when equipment fails. For instance, The U.S. smart grid plant contains more than 9,200 electric generating units, having more than 1 million megawatts of generating capacity connected to more than 600,000 miles of transmission lines. The benefits offered by the smart grid over the conventional power supply system is the major factor facilitating the growth of the smart grids market worldwide. In addition, the smart grid technology allows customer-owned power generators to produce power when it is not available from utilities. The distributed generation facility provided by the smart grid technology helps hospitals, traffic light, police department, and many other systems to operate during emergency situations.

 

The distribution power generation facility of the smart grid is expected to boost the growth of the smart grid market. The factors such as favorable government policies, growing Government initiatives for Smart Meter Roll-outs and rising demand for integration of renewable energy is contributing to the growth of the smart grid market. However, high setup cost and lack of expertise are the factors hampering the growth of the smart grid market. Moreover, growing energy infrastructure and trending smart city projects are projected to create many opportunities for the smart grid market in the upcoming years. Geographically, Asia Pacific is the largest and the fastest-growing region in the smart grid market owing to the rapidly growing technological and infrastructure advancements in the energy sectors. The increasing adoption of a smart meter in the Asia Pacific region is likely to boost the growth of the smart grid market in this region.

 

Segment Covered

The report on the global smart grid market covers segments such as technology. On the basis of technology, the global smart grid market is categorized into advanced metering infrastructure, software and hardware, communication technologies, distribution automation, transmission upgrades, and cybersecurity.

 

Geographic Coverage

The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers substantial potential for market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.

 

Companies Profiled:

The report provides profiles of the companies in the global smart grid market such as Siemens, Schneider Electric, Sensus, Silver Spring Networks, Aclara, Alstom, Landis+Gyr and Itron.

 

Report Highlights:

The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global smart grid market. Moreover, the IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the smart grid market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the smart grid market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the smart grid market to understand the present and future trends in this market and formulate their strategies accordingly.


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