COVID-19 Impact on Smart Grid Market 2020-2021: GE, ABB, Siemens, Schneider Electric, Itron, Landis+Gyr, Aclara, Cisco, OSI, IBM, Wipro, Oracle, Honeywell, Eaton, Kamstrup, Trilliant Holdings and Others.

According to Market Study Report, Smart Grid Market provides a comprehensive analysis of the Smart Grid Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape and emerging opportunities of global industry. This report also provides market landscape and market share information in the Smart Grid Market. An exclusive data offered in this report is collected by research and industry experts team.

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The Global Smart Grid Market size is expected to grow from an estimated value of USD 26.9 Billion in 2020 to USD 28.8 Billion by 2021, at a CAGR of 7.1% from 2020 to 2021 in the realistic scenario. This report spread across 57 pages, profiling 17 companies and supported with 32 tables and 13 figures are now available in this research.

Top Key Players Profiled in the Smart Grid Market:
o GE (US)
o ABB (Switzerland)
o Siemens (Germany)
o Schneider Electric (France)
o Itron (US)
o Landis+Gyr (Switzerland)
o Aclara (US)
o Cisco (US)
o OSI (US)
o IBM (US)
o Wipro (India)
o Oracle (US)
o Honeywell (US)
o S&C Electric Company (US)
o Eaton (Ireland)
o Kamstrup (Denmark)
o Trilliant Holdings (US)

Smart grids enable two-way communication between utilities and end-users, whereas the traditional system consists of electrical wires, wires, cables, towers, and distribution lines. Increased investments in the digitalization of the grid by implementing advanced communication technology will fuel the growth of smart grid market.

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"The software segment is expected to be the largest market, by component during the forecast period."
The smart grid market, by component, is segmented into hardware, software, and services. The software segment holds the largest market share as it simplifies the implementation and functionality of the smart grid. It also supports the construction and maintenance of smart grids, including infrastructure management, advanced technical calculations (based on static and dynamic data), forecasting and planning production of energy, control & regulation of voltage levels & reactive power.

"North America is expected to lead the smart grid industry during the forecast period "
The smart grid market in North America is expected to be the largest during the forecast period. This growth is attributed to the increasing investments in smart grid infrastructure and the early adoption of smart grid projects. The growing trend of smart cities, smart communities, and electric vehicles are also driving the market for smart grid management.

Breakdown of primary participants' profile:
o By Company Type: Tier 1 - 55 %, Tier 2 - 30%, and Tier 3 - 15%
o By Designation: C-level Executives - 60%, Directors - 20%, Others - 20%
o By Geography: Europe-30%, North America- 25%, Asia Pacific-25%, Middle East & Africa- 10%, and South America-10%

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Reason to access this report:
o Illustrative segmentation, analysis, and forecast pertaining to the smart grid industry based on component and region have been conducted to provide an overall view of the smart grid industry considering the detailed impact analysis of COVID-19
o Major drivers and restraints for the smart grid market have been detailed in this report.

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