Smart Grid Networking Market 2020 Global Leaders: Huawei Technologies, ABB Group, Cisco Systems, Mitsubishi Electric, Siemens AG, Trilliant Holdings, Schneider Electric SE

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 global smart grid networking market was analyzed by Market Research Future (MRFR) and it was projected that a healthy CAGR of 10% will be attained by the market over the forecast period of 2017 to 2023. The valuation of the Smart Grid Networking Market was further stated to surpass its previous figure to reach USD 17 Billion by 2023. The global market is expected to gain considerable growth due to the rising demand for energy management systems and growing adoption of smart grid deployments. Furthermore, the adoption of various smart grid networking solutions and services across different verticals is also expected to boost the global market.

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.

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Global Smart Grid Networking Market: Segmental Analysis

The global smart grid networking market has been segmented in terms of hardware, service, and software.

• By hardware, the market is broken down into switches, routers, cables, controllers, smart meter communication modules, and others.
• By software, the market segments into network traffic management, IP address management, network device management, network performance monitoring management, network security management, network traffic management, network configuration management, and others. The network performance monitoring management segment is expected to lead the global market during the forecast period by gaining the maximum share. The growth of the segment is due to the growing demand identified for real-time monitoring of energy management and power consumption.
• By service, the market narrows down into network risk and security assessment, consulting, network maintenance & support, network planning, design and integration, and others.

Regional Insights

The global smart grid networking market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).

North America leads the global smart grid networking market with the maximum share percentage. The region holds the largest share at present and is expected to strengthen its positioning over the forecast period. Countries like the US and Canada are anticipated to drive the maximum growth and revenue to the region over the forecast period. This is due to the presence of a large pool of established players like Itron and Trilliant Holdings, Inc., General Electric Company, and others in this region. Owing to the sustainable and well-developed economies herein, the market is experiencing notable growth.

Asia Pacific, on the other hand, is projected to gain fast-paced growth during the forecast period. So much so that the regional market is expected to attain the highest CAGR among all the mentioned regions. This is due to the increasing integration of energy management systems and wireless mesh networks to offer real-time control power and data supply across different nations in the Asia Pacific region.

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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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This release was published on openPR.