Overview:
Smart Grid refers to an electrical grid that uses digital information received from various equipments such as smart meters and appliances, renewable energy resource and communication technology. Smart grids use digital information and control various equipments to improve efficiency, reliability and security of the grid.
Global smart grid market is expected to gain robust growth owing to increasing demand for power along with government regulatory policies for transmission and distribution of power is expected to augment the growth of smart grid over the forecast period. Moreover, growing environmental concerns over carbon footprints and need for the replacement antiquated infrastructure is also projected to fuel the demand for smart grid during the forecast period. However, lack of awareness and high implementation cost for modification of existing infrastructure expected to restrain the demand for smart grids in near future.
Asia pacific is expected to be the most promising market over the forecast period due to increasing power demand in the emerging economies such as India and China as result of rapid urbanization the region. Followed by it, North America is anticipated to be the second largest region in the global smart grid market. The growth in the region is augmented by various government regulations and increasing government initiatives to reduce carbon footprints is expected to drive the demand of smart grid in the region.
Leading players identified across the value chain of smart grid market are focusing on merger and acquisitions.
Global Smart Grid Market is segmented on the following bases:
- By Product Type
- Advanced Metering Infrastructure (AMI)
- Distribution Management System (DMS)
- Smart Grid Communication
- Grid Asset Management
- Outage Management System (OMS)
- Others(Billing and Customer Information System)
- By Geography
- North America
- Europe
- U.K.
- France
- Germany
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- Rest of APAC
- Rest of World
- Latin America
- Brazil
- Rest of Latin America
- Middle-East & Africa
- Africa
Key players identified across the value chain in the smart grid market include but are not limited to:
Cisco, IBM, Itron Inc., Siemens, Schneider Electric, ABB and others.
This report offers:
- An overview of the global smart grid market
- Market trends assessment for the period 2016-2023, with historical information for 2013 & 2014, and projections through 2023, with respective CAGRs during 2016-2023 and 2015 as the base year
- Qualitative assessment tools such as market drivers, challenges and future prospects, and competitive analysis: market positioning of key market players
- Focus on each level of market segmentation based on product approvals, launch, and current and anticipated market dynamics
- A general overview of the industry structure
- Company profiles highlighting key information about the major players operating in the global smart grid market
- This report includes estimation of market size for value. Both, top-down and bottom-up approaches have been used to estimate and validate the size of the global smart grid market.
