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Smart Grid Market 2019-2025New Study Reports "Smart Grid Market 2019 Global Market Opportunities, Challenges, Strategies and Forecasts 2025".
Introduction/Market Overview:
Global Smart Grid Market to Grow Significantly
According to a report, the global smart grid market is expected to increase in a reflective manner. Increase in government support and substantial investment by other organizations towards deploying smart grid technology, the market size is expected to witness positive growth in the coming years. Also, boosting focus toward renewable energy integration in addition to growing popularity of ICT technologies will further push the distribution smart grid market in the forthcoming years
Growing awareness among people and businesses toward energy efficiency along with environment protection is becoming a priority which will further boost the smart grid market growth in the future.
However, factors like high initial investment cost linked with the deployment of technology solutions for Smart Grid infrastructure and safety concerns related to smart grid cyber security will hinder the market growth in the coming years.
Important Key Players Analysis: General Electric, ABB, Siemens, Schneider Electric, Itron, Landis+Gyr, Aclara, Cisco, OSI, IBM, Wipro, Honeywell, Oracle, S&C Electric Company, Eaton, Trilliant Holdings, Globema, Tech Mahindra, Enel X, eSmart Systems and more.
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Market Segmentation
The market of global smart grid has been segregated into hardware, software and services. Based on the software, the market has been divided into Advanced Metering Infrastructure, Smart Grid Distribution Management, Smart Grid Network Management, Grid Asset Management, Substation Automation and Smart Grid Security. Based on the services, the market has been segmented into Consulting, Deployment and Integration and Support and Maintenance
Detailed Regional Analysis
The global market of smart grid has been analysed across the United States, Europe, India, Japan, China, and Southeast Asia. IN terms of revenue, the North American market will grow at a growing speed during the forecast period. Enhancement in the regulatory and market structure changes aimed at improving, security, competitiveness and sustainability of the power generation system will further fuel the market in the coming years. Meanwhile, increasing investment in the power supply sector and growing demand for secure and reliable power supply are some of the other factors that are likely to expand Asia-Pacific market in the coming years. Rapid industrialization and urbanization in countries like India, China and Japan will also contribute towards the growth of this market in the coming years. Growing demand for utilization of renewable energy sources and enhanced grid reliability backed with increasing government initiatives for smart meter roll-outs will fuel the market growth in the coming years. Meanwhile, the European market will also expand in the future. With an increasing number of electric vehicles across the world and new smart cities projects, lucrative opportunities are expected to unfold in the future which will prove favourable for the global smart grid market.
Key Stakeholders
Smart Grid Manufacturers
Smart Grid Distributors/Traders/Wholesalers
Smart Grid Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Competitive Landscape
The growing competition between the leading players and government funding is likely to bring optimistic changes in the global smart grid software market. Also, leading players operating in the market might formulate various strategies and plans in order cater to more number growing demand.
July 2018
Thai government introduced Thailand 4.0, an initiative to transform cities like Chiang Mai, Phuket, Bangkok and Khon Kaen into technology hubs.
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Release ID: 88930128
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