Excellent Growth of Smart Grid Technology Market 2019-2025: New Entrant Scope and In-depth Study by Top Key Companies like Siemens, ABB, GE, Itron, Schneider Electric, Belden, Honeywell, Hubbell, Landis+Gyr, Oracle, Cisco, Fujitsu General, IBM, and Wipro

“Smart Grid Technology Market 2019” report presents detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. Comprehensive market dynamics has been analyzed through key market driving factors, challenges to growth and the opportunities which exist for vendors in the current scenario.

Global Smart Grid Technology Market is expected to grow at a CAGR of 11% during the forecast period 2019-2025.

“Smart Grid is a digital technology-based electrical network used to provide electricity to consumers through two-way digital communications. This system increases efficiency, reduces energy consumption and costs, and maximizes the transparency and reliability of the energy supply chain. The Smart Grid was introduced to overcome the weaknesses of existing electric grids using smart meters.”

Top key players:

Siemens, ABB, General Electric, Itron, Schneider Electric, Belden, Honeywell, Hubbell, Landis+Gyr, Oracle, Cisco, Fujitsu General, IBM, and Wipro.

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Competitive Analysis:

The global smart grid market size is projected to grow from USD 23.8 billion in 2018 to USD 61.3 billion by 2023, at a CAGR of 20.9% from 2018 to 2023. Major growth factors for the market include governments’ supportive policies and legislative mandates, improved grid reliability and efficient outage response, increasing awareness about carbon footprint management, and modernization of aging grid infrastructure.

Regional Analysis:

The smart grid technology market is classified into Asia-Pacific (APAC), North America, Latin America (LATAM), Europe, and Middle East and Africa (MEA). During the historical period, North America held the largest share and is expected to hold significant share in the market throughout the forecast period, owing to early adoption of smart grid projects. Developed countries like the U.S. and Canada are investing heavily in this market.

Market Segmentation:

By technology, the smart grid market is segmented into advanced metering infrastructure, distribution automation, software and hardware, communication services, cyber security, and transmission upgrades. The smart grid technology market is categorized on the basis of component into software, hardware, and services. The software components category is sub-classified into advanced metering infrastructure (AMI), distribution management system. Based on the services component, deployment and integration holds a significant share in the market, due to growing demand for smart grids.

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The report provides both, qualitative and quantitative research of the Global Smart Grid Technology Market, as well as includes worthy insights into the balanced situation and favorite development methods accepted by key competitors. Unique supporting channels and method motivated to bear fruit in the 2017-2022 figure period have been dispensed in the report to permit readers to plan winning methodologies.

The study report further includes a detailed impression of the competitive landscape and regulatory framework of the Global Smart Grid Technology Market. This report will further provide readers/customers a picture clear understanding of the market of competition, threats, major opportunities, and the major rules, regulations, plans, and policies impacting the market.

Report Highlights:

• Detailed overview of parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth

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