Smart Grids Market 2020 Industry Sales, Top Manufacturers (General Electric Company, ABB Ltd., Siemens AG, Schneider Electric SA, Cisco Systems, Inc., etc..) and Future Forecast Report 2023
The Global Smart Grids Market was valued at USD XX million in 2016, and is expected to grow at a CAGR of XX% by 2025. The market is growing due to rising need for efficient transmission of electricity and improved security concerns.
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Smart grids add resilience to our electric power systems and make them better prepared to address various emergencies such as power outages, severe storms, solar flares, etc. The market is driven by various features such as the two-way interactive capacity which in turn allows for automatic rerouting in case of equipment failure or outages. The growth of the market is further complimented by numerous technologies and advance control methods that come integrated with smart grids which enable rapid diagnostics and accurate responses such as remote monitoring, time-of-use pricing, and demand side management.
The concerns over lack of security and chances of identity theft pose as challenges to the market. In addition to that, threats like targeted home invasions, determination of personal behavior patterns and tapping into network communications by gaining control over the smart grids can affect the market negatively.
However, the self-healing nature, use of heavy encryption standards, and the provision of high quality power that saves money lost on outages motivate consumers to actively participate in grid operations. These features will support the growth of the Smart Grids market.
The market has seen a constant rise in North America, followed by Europe, and is expected to grow in the forecasted period too. The large share of this regional segment can be attributed to factors such as growing severity and regularity of natural adversities such as storms and unplanned power outages. The Europe region is expected to witness a rise in the market due to increased investments in smart meters owing to favorable energy and climate policies.
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The deployment & integration services segment commanded for the largest share of the market expected to grow considerably during the projected period as these services are crucial in developing end-to-end smart grid solutions for power and energy utilities.
Some of the key players operating in this market include General Electric Company, ABB Ltd., Siemens AG, Schneider Electric SA, Cisco Systems, Inc. and Others.
Key Benefits of the Report:
* Global, Regional, Country, TECHNOLOGY, and Power Sources Market Size and Forecast from 2014-2025
* Detailed market dynamics, industry outlook with market specific PESTLE, Value Chain, Supply Chain, and SWOT Analysis to better understand the market and build strategies
* Identification of key companies that can influence this market on a global and regional scale
* Expert interviews and their insights on market shift, current and future outlook and factors impacting vendors short term and long term strategies
* Detailed insights on emerging regions, Power Sources & TECHNOLOGY, and competitive landscape with qualitative and quantitative information and facts
Target Audience:
* Smart Grids providers
* Traders, Importer and Exporter
* Raw material suppliers and distributors
* Research and consulting firms
* Government and research organizations
* Associations and industry bodies
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Research Methodology
The market is derived through extensive use of secondary, primary, in-house research followed by expert validation and third party perspective like analyst report of investment banks. The secondary research forms the base of our study where we conducted extensive data mining, referring to verified data sources such as white papers government and regulatory published materials, technical journals, trade magazines, and paid data sources.
For forecasting, regional demand & supply factor, investment, market dynamics including technical scenario, consumer behavior, and end use industry trends and dynamics , capacity production, spending were taken into consideration.
We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.
The market estimates and forecasts have been verified through exhaustive primary research with the Key Industry Participants (KIPs) which typically include:
* Original Equipment Manufacturer,
* Component Supplier,
* Distributors,
* Government Body & Associations, and
* Research Institute
Table Of Content
1 Executive Summary
2 Methodology And Market Scope
3 Smart Grids Market — Industry Outlook
4 Smart Grids Market Services Outlook
5 Smart Grids Market Technology Outlook
6 Smart Grids Market Regional Outlook
7 Competitive Landscape
End Of The Report
Disclaimer
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