Smart Grid Networking Market 2018 Global Key Leaders Analysis: Fujitsu, Huawei Technologies, Itron, Schneider Electric SE, Siemens AG, Trilliant Holdings, Mitsubishi Electric, ABB Group

Market Research Future published a research report on “Smart Grid Networking Market Research Report- Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Scenario:

The smart grid networking market isn’t just growing, it is accelerating. Rise in smart grid deployments is one major factor driving the growth of smart grid market. Also, increasing need for better energy management is another major factor responsible for driving the growth of smart grid networking market.

ABB Group, Cisco Systems, Inc., Mitsubishi Electric, Fujitsu, General Electric Company, Huawei Technologies Co. Ltd., Itron, and Schneider Electric are a few major players in the global Smart Grid Networking Market. Increasing deployment of smart grids will create opportunities for traditional energy and open market for new players. Also, the growing demand for process automation and increasing need for remote monitoring of applications is set to drive the growth of the smart grid networking market. Increasing traction of smart grid as a service applications is one major factor responsible for fueling the growth of global smart grid networking market.

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The software segment in the smart grid networking market comprises of network performance monitoring management, IP address management, network traffic management, network device management, network configuration management, network security management, and others. The network performance monitoring management sub-segment of the global smart grid networking market is expected to grow at a significant rate during the forecast period. This is owing to the increasing demand for real time monitoring of power consumption and energy management. Also, the growing trend of adopting smart and enery efficienct management systems is one major factor driving the growth of smart grid networking market.

North America region holds the largest share of the market across the globe followed by Europe, and Asia Pacific region. The U.S. and Canada are dominating the North American market due to rising technological enhancements and growing adoption of artificial intelligence in the region. Moreover, the region has a well-established infrastructure, which allows faster implementation of advanced technologies. Additionally, the growing adoption of smart grid deployment is another major factor driving the growth of smart grid networking market in the region.

The global smart grid networking market is expected to grow at a CAGR of approximately 10% during the forecast period 2017-2023.

Global Smart Grid Networking Market: Segmental Analysis

The global smart grid networking market has been segmented on the basis of hardware, software, service, and region.

By mode of hardware, the global smart grid networking market is segmented into controllers, cables, smart meter communication modules, switches, routers, and others. Among these, the smart meter communication segment holds the largest market share owing to the efficiency being offered by smart meters which helps in recording power consumption in real time.

By mode of software, the market is segmented into network performance monitoring management, network traffic management, IP address management, network configuration management, network security management, network device management, and others. Among these, the network performance monitoring management segment is estimated to expand at a significant rate during the assessment period owing to the growing demand for real-time monitoring of power consumption and energy management.

By mode of service, the market is segmented into network planning, network maintenance & support, network risk and security assessment, consulting, design and integration, and others.

Key Players

Some of the prominent players in the global smart grid networking market are ABB Group (Switzerland), Cisco Systems, Inc. (U.S.), Mitsubishi Electric (Japan), Fujitsu (Japan), General Electric Company (U.S.), Huawei Technologies Co. Ltd. (China), Itron (U.S.), Schneider Electric SE (France), Siemens AG (Germany) and Trilliant Holdings, Inc. (U.S.) among others.

Regional Insights

Geographically, the smart grid networking market span across regions namely, North America, Asia Pacific, Europe, and Rest-of-the-World.
Among all the regions, North America has been observed to account for the largest market share owing to the technological advancements and growth in smart grid deployments across industry verticals in this region. The United States holds the majority share in terms of revenue due to rising demand for better energy management.

Asia Pacific is considered to be the fastest growing market owing to the escalating demand for electricity. The increasing demand for standardization and interoperability has elevated the global market in countries such as China, India, and Japan.

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Intended Audience

• Technology Investors
• Research/Consultancy firms
• Government Bodies
• Smart Grid Manufacturers
• Smart Grid Network Providers
• Information Technology (IT) developers
• Consulting service providers
• Technology Providers
• System integrators

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