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Cisco, Honeywell and IBM offer a smart grid service
Smart Grid Market
The key market players explored in the research include Wipro Limited, Cisco Systems, Inc., Tech Mahindra Limited, General Electric, Siemens, Honeywell International Inc, Schneider Electric, International Business Machines Corporation (IBM), and Itron Inc., Oracle, They have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the global industry.
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The global smart grid market contributed $66.96 billion in 2017 and is estimated to garner $169.19 billion by 2025, growing at a CAGR of 12.4% from 2017 to 2025.
The residential segment is expected to register the highest CAGR of 14.7% from 2017 to 2025. However, the commercial segment accounted for nearly half of the total revenue in 2017 and will maintain its dominance by 2025.
The transmission segment accounted for more than one-third of the total revenue in 2017 and will maintain its dominance by 2025. However, the distribution segment is expected to register the highest CAGR of 15.7% from 2017 to 2025.
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The smart grid communications segment is expected to register the highest CAGR of 16.8% from 2017 to 2025. However, the substation automation segment accounted for more than one-fourth of the total revenue in 2017 and will maintain its dominance by 2025.
North America region accounted for more than two-fifths of the market in terms of revenue in 2017. However, the Asia-Pacific region is expected to grow at the highest CAGR of 16.1% during the forecast period. The research also analyzes regions including Europe and LAMEA.
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The solution segment accounted for more than three-fourths of the total revenue in 2017 and will maintain its dominance by 2025. However, the services segment is expected to register the highest CAGR of 13.9% from 2017 to 2025.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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