Smart Grid Market Insights, Current and Future Trends & Forecast 2020-2027

This study of the market provides an overview of the existing market trends, drivers, restrictions, and metrics and also offers a viewpoint for important segments. The report also tracks product and services demand growth forecasts for the industry. The report mentions growth parameters in the regional markets along with major players dominating the regional growth.

The report offers detailed profile and data information analysis of the leading companies in the Smart Grid Market:

General Electric
ABB
Siemens
Cisco Systems Inc.
Schneider Electric
IBM Corporation
Landis+Gyr
Wipro Limited
Oracle
Honeywell International Inc.

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The key drivers of the Smart Grid Market are as follows:

The significant factors contributing to the growth of the global smart grid market include the rising government focus on decreasing transmission and distribution losses, along with the growing concern related to the environmental protection globally. The end-users are looking for an advanced grid which enables energy conversation and is environment friendly. The smart grid saves energy through lower consumption, provides better customer services, and more accurate bills. It also helps in fraud detection and technical losses. The manufacturers are mainly investing in the digital electricity infrastructure, which will further create various growth opportunities in the market. For example, in 2018, Natural Resource Canada financed USD 949,000 in the next-generation smart grid project. This project is mainly focusing on the adoption of renewable sources of energy and the implementation of technology to integrate new sources of clean energy. All these investments will bring a drastic increase in the global smart grid market. On the other hand, limited standardization and increase in privacy & security concerns will hamper the growing demand of the market during the forecast period.

Based on the region, the Asia-Pacific region is expected to dominate the market during the forecast period. China is the leading player in the smart grid market. The growing government’s initiatives to support the usage of smart grid systems, coupled with the large presence of market players are the key driver propelling the market growth in this region. For example, in India, the Ministry of Power introduced the India Smart Grid Forum (ISGF) initiative focusing on encouraging the development of smart grid infrastructure in the power sector.

The study objectives of this report are:

To study and forecast the size of the market.
To analyze the key players, SWOT analysis, value, and market share for the leading players.
To define, describe, and forecast the market by different segments.
To analyze the market potential and advantage, opportunity and challenge, restraints and risks.

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Segmentation of the Smart Grid Market:

Breakup by Component:

Software

Advanced Metering Infrastructure

Meter Data Management
Analytics

Smart Grid Distribution Management

Supervisory Control and Data Acquisition
Demand Response Management
Outage Management
Distributed Energy Resource Management
Energy Management System
Distribution Automation

Smart Grid Network Management

Network Traffic Management
Network Device Management
Network Configuration Management
Network Security Management
Network Performance Monitoring Management

Grid Asset Management

Condition and Performance Monitoring
Predictive Maintenance
Asset Data Management

Substation Automation

Production Management
Performance Management

Smart Grid Security
Billing and Customer Information System

Hardware

Smart Meter

Services

Consulting
Deployment & Integration
Support & Maintenance

Breakup by Region:

North America

United States of America
Canada

Asia Pacific

China
Japan
India
Rest of APAC

Europe

United Kingdom
Germany
France
Spain
Rest of Europe

Brazil
South Africa
Saudi Arabia
UAE
Rest of the world (remaining countries of the LAMEA region)

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GMI Research is a full-service market research and business-consulting organization that offers global as well as medium and small businesses with bespoke industry and market analysis to help them in making the toughest business decision. We have a team of industry experts that provides unbiased insights on reports to best meet the specific needs of our clients. GMI Research’s analysts rely on secondary research to lay down the foundation of every report. We use not only the internal but also the external databases to cull out relevant information of the industry. Our main aim is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client, through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.

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