The global Smart Grid Market will be worth USD 122.97 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing initiatives of the government to adopt renewable sources of energy and reduce the carbon dioxide emission levels. Besides, the increasing supportive policies and regulations of the government regarding the adoption of the smart grid technologies is expected to boost the market growth over the forecast period.
The emergence of smart cities increases the need for advanced smart grid technologies, which is most likely to propel the industry's growth. The lower operating cost of the advanced metering technologies is a key contributing factor to the increasing demand of the system. The market players are investing in the research and development to produce more technologically advanced systems.
The report provides Smart Grid market forecast, supported by detailed insights historical data and revenues, past and current market trends, industry trends, consumer trends, market size, market share, market growth, along with ranging impacts of each factor and driver. It also provides analysis of various factors expected to restrain or limit potential growth in market size over the forecast period, 2020–2028. The report includes profiles of major players in the market, strategies being employed, mergers, acquisitions, recent developments, agreements, contracts, new product development and launches, segment revenue, investment details as well as financials.
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Global Smart Grid market forecast has been provided following thorough study, focus, comparison, and analysis of a varying range of factors and past market forecast and present outcomes. Smart Grid Market forecast is made possible through, but has not been limited to, a study and analysis of a variety of factors and trends, and these are verified through interviews with industry experts and companies operating in the market.
Rising focus by major companies on product/service expansion into new and untapped domestic markets, increasing investments in strategic agreements, favourable government policies and regulations, and growing competition in the market are some major trends observed in the Smart Grid market. Development of more advanced offerings is driving rising demand and deployment in respective sectors/industries, and this is expected to drive Smart Grid market revenue growth to a significant extent over the forecast period.
Key Highlights From The Report
- In October 2019, ABB completely acquired a majority stake in Chargedot Shanghai New Energy Technology Co., Ltd. The Shanghai-based company provides AC and DC charging stations. The acquisition strengthened the relationship between leading Chinese EV manufacturers and ABB.
- The Smart Grid distribution Management segment held the largest market share of 41.0% in the year 2019 as it can optimize the renewal energy distribution while minimizing the electricity bills for the customers.
- The Deployment and Integration segment is forecasted to grow with the fastest CAGR of 20.6% over the forecast period due to the increasing requirement in the technological advancements of the traditional power systems.
Top key vendors in Smart Grid Market include are:
- General Electric,
- Siemens,
- Itron,
- Aclara,
- Schneider Electric,
- Cisco,
- S C Electric Company
On the basis of the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate for each application, including
- Commercial
- Industrial
- Residential
On the basis of product, this report displays the production, revenue, price, and market share and growth rate of each type, primarily split into
- Smart Grid Distribution Management
- Advanced Metering Infrastructure
- Smart Grid Network Management
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Incorporated with Info-graphics, charts, 70 tables and 85 figures, this 250-page research report “Smart Grid Market Size, Type, Application, End-Use Industry, Regional Outlook, Competitive Strategies and Forecasts, 2020 - 2027” is based on a complete research of the entire Global market and covering all its sub-segments through comprehensively thorough classifications. Insightful analysis and assessment are created from superior primary and secondary information sources with data and information derived from industry specialists across the value chain.
Region wise performance of the Smart Grid industry
North America Smart Grid market forecast is expected to remain significantly positive in terms of revenue share between 2020 and 2028. In addition, North America Smart Grid market revenue share is expected to remain comparatively larger than that of other regional markets from 2020 to 2028.
Asia Pacific registered fastest revenue CAGR in 2020, and the Smart Grid market forecast is that this trend is expected to continue going ahead. Market forecast states that revenue share contribution from China, India, and South Korea is expected to remain robust till 2028.
Europe Smart Grid market forecast is positive currently, with revenue growth expected to remain steady between 2020 and 2028. Robust focus on research and development initiatives by major firms and changing trends and demographics in countries in the region are some factors expected to continue to support Smart Grid market growth.
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
- United States
- Europe
- China
- Japan
- Southeast Asia
- India
We can also provide the customized separate regional or country-level reports, for the following regions:
North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central South America, Brazil, Argentina, Rest of South America, Middle East Africa, Saudi Arabia, Turkey, Rest of Middle East Africa
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The research provides answers to the following key questions:
- What will be the growth rate and the market size of the Smart Grid industry for the forecast period 2020-2027?
- What are the major driving forces expected to impact the development of the Smart Grid market across different regions?
- Who are the major driving forces expected to decide the fate of the Smart Grid industry worldwide?
- Who are the prominent market players making a mark in the Smart Grid market with their winning strategies?
- Which Smart Grid industry trends are likely to shape the future of the industry during the forecast period 2020-2027?
- What are the key barriers and threats believed to hinder the development of the industry?
- What are the future opportunities in the Smart Grid market?
Table of Content
Chapter 1. Methodology Sources
1.1. Smart Grid Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Smart Grid Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2021-2028
Chapter 3. Key Insights
Chapter 4. Smart Grid Market Segmentation Impact Analysis
4.1. Smart Grid Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Smart Grid Market indicators analysis
4.2.2. Smart Grid Market drivers analysis
4.2.2.1. Rapid urbanization and industrialization
4.2.2.2. Stringent government regulations regarding carbon emissions
4.2.2.3. Increasing prevalence of respiratory diseases
4.2.2.4. Rising need to enhance indoor air quality
4.2.3. Smart Grid Market restraints analysis
4.2.3.1. High cost associated with the maintenance of Smart Grid products
4.2.3.2. Availability of renewable sources of energy
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 10. Competitive Landscape
10.1. Smart Grid Market Revenue Share By Manufacturers
10.2. Mergers Acquisitions
10.3. Competitor’s Positioning
10.4. Strategy Benchmarking
10.5. Vendor Landscape
10.5.1. Raw Material Suppliers
10.5.1.1. North America
10.5.1.2. Europe
10.5.1.3. Asia Pacific
10.5.1.4. Middle East Africa
10.5.1.5. Latin America
10.5.2. Distributors
10.5.2.1. North America
10.5.2.2. Europe
10.5.2.3. Asia Pacific
10.5.2.4. Middle East Africa
10.5.2.5. Latin America
10.5.3. Others
Continued….
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