Global Smart Grid Market

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Global Smart Grid Market size was valued at US$ XX Bn. in 2019 and the total revenue is expected to grow at 21.6% through 2020 to 2026, reaching nearly US$ XX Bn.
Global Smart Grid Market Overview:

A smart grid is an electric grid that consists of a network of substations, transmission lines, and transformers. Smart grid includes a variety of energy measures, like smart appliances, smart grids, renewable energy resources and energy-efficient resources.

Global Smart Grid Market by Component

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Global Smart Grid Market , Dynamics:

The global smart grid market dynamics are thoroughly studied and explained in the MMR report, which helps the reader to understand emerging market trends, drivers, opportunities, restraints, and challenges at the global and regional level for the smart grid market. The rising need to alleviate climate change for renewable energy development is expected to fuel the smart grid initiatives globally.

Furthermore, governments of various economies are progressively investing in smart ...
... grid technology as it is projected to help them in achieving their CO2 reduction targets and support long-term economic success. Many economies already have net energy metering equipment and protocols, and some economies are still exploring the technology and its mechanism which is estimated to offer significant opportunities for the global smart grid market. Such as, in 2017 under Advanced Metering Infrastructure (AMI), the U.S. installed nearly 76 smart meters and is expected to install approximately 95 million meters by the year 2021.

One of the major factor responsible for the growth of the smart grid market is growing the global electricity demand is urbanization, coupled with an increase in investments in digital electricity organization. Furthermore, with rising awareness about “smart everything”, the smart-cities concept has also been gathering rising attention, mainly in developing economies such as China and India, which is a result of all the intermediate technologies. For example, in Sept 2019, the 10,000-acre AURIC (Aurangabad Industrial City) in Aurangabad, Maharashtra was installed as the main Greenfield industrial smart city of India.
Global Smart Grid Market Segmentation:

The MMR report covers all segments in the global smart grid market such as component and end-user.

Based on component, the software and services segment accounted for over 72% of the overall market share in 2019. This growth is driven by cost savings on overall electricity bills and a rise in the need to shift from predictable energy sources to renewable and sustainable energy resources.

The software segment is divided into advanced metering infrastructure, smart grid distribution management, smart grid network management, grid asset management, substation automation, smart grid security, billing and customer information system. Among this sub-segment, smart grid distribution management dominated the market, with market size of US$ XX Bn. in 2019 and to reach US$ XX Bn. by 2026, with a CAGR of 22.12%. The growing emphasis on optimization of energy and reduction of cost for electricity bill is helping the end-users to opt for smart grid distribution management.

Global Smart Grid Market by Software
Global Smart Grid Market Regional Analysis:

North America region is expected to hold the largest XX% growth rate in the forecast period of 2020 to 2026 thanks to large scale investments in smart grid & smart city projects. The USA has been extremely receptive toward adopting the latest technological developments, like smart grid distribution management, AMI, substation automation and smart grid communication. As per the U.S. Smart Grid Investment Grant (SGIG) program, an overall of 99 projects received federal financial assistance for 50% of qualified project prices.

In 2019, Asia Pacific occupied the second largest market share of XX%. The growth in the industry is mainly owing to the highly booming residential and commercial building industry, rapid industrialization, and mounting middle-class population, which leads to the growing demand for technology in the APAC.

The government of India announced the plan for making a smart grid plan in the technological and financial hub near New Delhi, and Gurugram. The underground systems are projected to be completed by 2022, preservative 120-150 MW of electricity daily and solving the long-standing problems of technological faults and power theft.
Key Development:

Major players are involved in adopting sustainable strategies to gain competitive edges such as collaborative agreements, new product launch, and product up-gradation. For examples, GE Power Grid Solutions, collaborate with Tata Power-DDL, announced it had launched ADMS (Advanced Distribution Management System) to enhance & modernize the area’s grid in 2018.

In Brazil, Schneider Electric has expanded its business by opening a smart distribution center in Sept 2019. The distribution center is available for partners, educational institutions and customers to experience and learn about the company's most advanced technologies delivered through its interoperable architecture, IoT-enabled, and EcoStruxure.

The objective of the report is to present a comprehensive analysis of the Global Smart Grid Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Global Smart Grid Market dynamics, structure by analyzing the market segments and project the Global Smart Grid Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Smart Grid Market make the report investor’s guide.
Global Smart Grid Market, Key Highlights:

• Global Smart Grid Market analysis and forecast, in terms of value.

• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Smart Grid Market

• Global Smart Grid Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.

• Global Smart Grid Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.

• Global Smart Grid Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.

• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.

• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Smart Grid Market are also profiled.

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Scope of the Global Smart Grid Market: Inquire before buying

Global Smart Grid Market by Scope
Global Smart Grid Market, by Region

• North America
• Europe
• Asia-Pacific
• Middle East& Africa
• South America
Global Smart Grid Market Key Players

• ABB
• Siemens
• GE
• Schneider Electric
• Itron
• Landis+Gyr
• Aclara
• Cisco
• OSI
• IBM
• Wipro
• Oracle
• Honeywell
• S&C Electric Company
• Eaton
• Kamstrup
• Trilliant Holdings
• Globema
• Tech Mahindra
• Enel X North America
• Fujitsu
• eSmart Systems
• Tantalus
• EsyaSoft Technologies
• Grid4C
• C3 Energy
• Others

This Report Is Submitted By : Maximize Market Research Company

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