Overview

Smart Grid Market Introduction:

The global smart grid market is forecasted to value over US$ 65 billion by the end of 2027 and expand at a CAGR of over 17% during the forecast period of 2020-2027.

The market is forecasted to observe rapid growth during the forecast period owing to an escalation in demand for energy across the globe. Furthermore, the growth in government aid for smart grid technologies is predicted to add towards the gloabl smart grid market growth.

Smart grid system improves the distribution, usage and decreases transmission loss during delivering power to the consumers. Aforementioned positive attributes are presumed to boost the market growth. Furthermore, an advanced communication network owing to error-free and effective data transfer, ageing power distribution support is calculated to drive the market growth over the forecast period. Rising energy concerns and regulatory standards commissioning corporations to use energy efficient management systems will also impact the market growth positively.

Concerns such as high installation cost, lack of standard implementation protocols, data security and privacy breach, are presumed to hinder the market growth.

Key Market Players are:
Schneider Electric, Cisco, Honeywell, GE, Kamstrup, Tech Mahindra, Oracle, Siemens, Globerma, Itron, eSmart Systems, IBM, Eaton and others.

Smart Grid Market Segmentation:
By Component

Hardware
Software
Services

By Hardware

Smart Meter

By Software

Smart Grid Network Mangement
Advanced Metering Infrastructure (AMI)
Smart Grid Distribution
Substation Automation
Grid Asset Management
Smart Grid Security
Billing and Customer Information System

By Service

Deployment and Integration
Support and Maintenance
Consulting

By Region:

Europe
North America
APAC
Latin America
Rest of World

Competitive Landscape:

Tier 1 players- established companies in the market with a major market share
Tier 2 players
Emerging players which are growing rapidly
New Entrants

FutureWise Takeaways:

Growth prospects
SWOT analysis
Key trends
Key data points affecting market growth

Objectives of the Study:

To provide an exhaustive analysis on the Smart Grid Market by Component, by Hardware, by Software, by Service and by Region
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East.
To evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansionsTo rec