Smart Grid Market to witness Drivers, Restraints, Opportunities and Threats high growth in near future to 2026

Selbyville, Delaware Market Study Report Has Added Research helps to set achievable targets, which consequently help industries to take huge profits. Smart Grid Market size Research Analysis is essential to know more about the latest market trends. It points out problem areas of the business. It also tells about which are the areas in which business can be expanded by increasing customer base. It also helps to take well-informed market decisions as well as develop efficient strategies. Getting competitive edge in the business market is possible with the help of this Smart Grid Market size Research. Market report explains the price level, supply and demand of the product. Further it explains market trend of that particular product also. It depicts the effects of health crisis, COVID-19 on different industries.

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Global Smart Grid Market is valued approximately USD 28.77 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 21 % over the forecast period 2019-2026. A smart grid is an electrical grid which comprises a variety of operation and energy measures including, energy efficient resources, renewable energy resources, smart appliances and smart meters. The smart grid provides technologies that improve fault detection and enables self-healing of the network automatically after the power disturbances. Smart Grid allows real-time monitoring and regulation of the power system as well as helps to reduce AT&C losses. Hence the increasing adoption of smart grids amidst these benefits drives the market towards growth. Moreover, rising environmental concerns along with supporting government policies and initiatives for the deployment and installation of smart meters further drives the market growth. As as per US Energy Information Administration in 2018 there were 86.8 million smart metering infrastructure installations in US electric utilities of which 88% belonged to the residential sector. And as of June 2018, operator Enexis Netbeheer installed 900 thousand smart meters in one region of Netherlands and further plans to install 2.8 million electricity smart meters and same number of smart gas meters by 2020. Also, increasing investments in the digital electrical infrastructure and smart grid infrastructure further fuels the market growth. As the per United States Department of Energy report of 2018,  the US utilities invested USD 144 billion in electricity generation, transmission and distribution in 2016. Also, the Annual smart grid investments rose by 41% from USD 3.4 billion in 2014 to USD 4.8 billion in 2016 and is further projected to rise to USD 13.8 billion by 2024. However, high Initial Costs for deployment of smart grid technology solutions impedes the growth of the market over the forecast period of 2020-2026. Although, increasing number of electric vehicles and rising smart city developments provide an opportunistic market for Smart Grids during the forecast period.

The regional analysis of global Smart Grid market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the tremendous support from the government coupled with high investments in the smart grid technology. As June 2018 the Nova Scotia Utility and Review Board (UARB) approved a USD 133.2 million advanced metering infrastructure project which aims to install 500 thousand digital smart meters by 2020 in Nova Scotia, a province in Canada. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as rising smart city projects and increasing smart meter deployments through the governments would create lucrative growth prospects for the Smart Grid market across Asia-Pacific region.

Major market player included in this report are:
General Electric Company (US)
ABB (Switzerland)
Siemens AG (Germany)
Schneider Electric SE (France)
Itron (US)
Landis+Gyr (Switzerland)
Aclara Technologies LLC (US)
Cisco Systems Inc. (US)
OSI Systems Inc. (US)
IBM Corporation (US)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Software:
Advanced Metering Infrastructure
Smart Grid Distribution Management
Smart Grid Network Management
Grid Asset Management
Substation Automation
Smart Grid Security
Billing and Customer Information System
By Hardware:
Smart Meter
By Services:
Consulting
Deployment and Integration
Support and Maintenance
Summary of the regional outlook documented in this report:

  • Consumption pattern and consumption rate with respected to each region.
  • Predicted consumption rates over the forecast period.
  • Market forecasts of key regions are detailed in the report.
  • Consumption market share solely based on the regional contribution.
  • Market share held by the listed geographies.

It covers geographic analysis and focuses on notable divisions, as well as major regions such as Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa. Financial markets are constantly exerting effort and seeking to integrate the most up-to-date technology in order to stay competitive in the market, as technologies are adopted on a regular basis. Several new companies have started operating and have begun to use new techniques, expansions, technology progressions, and enduring contracts to gain control of the global economy and maintain their position. This Smart Grid market report also describes the impact of such innovations on the industry’s future expansion and growth in a comprehensive and complete manner.

Table of Content:

Global Smart Grid Market Size, Status and Forecast 2026
1 Market Overview
2 Company Profiles
3 Global Smart Grid Sales, Revenue, Market Share and Competition by Manufacturer
4 Global Smart Grid Market Analysis by Regions
5 North America Smart Grid by Countries
6 Europe Smart Grid by Countries
7 Asia-Pacific Smart Grid by Countries
8 South America Smart Grid by Countries
9 Middle East and Africa Smart Grid by Countries
10 Global Smart Grid Market Segment by Type
11 Global Smart Grid Market Segment by Application
12 Smart Grid Market Forecast 2026
13 Sales Channel, Distributors, Traders and Dealers
14 Research Findings and Conclusion
15 Appendix

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