Smart Grid Market to Witness an Outstanding Growth by 2021-2031 OSIsoft, Telvent, Alstom, ABB, Honeywell

New York, According to a new market research report published by Global Insight Services "Smart Grid Market" is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

Read more about Smart Grid Market here: https://www.globalinsightservices.com/reports/smart-grid-market/

A smart grid is a digital and interactive electricity network that is used to deliver electricity from suppliers to consumers. It is a system that enables two-way communication between the utility and the consumer, and allows for the monitoring and control of electricity usage in real-time.

A smart grid is designed to be more efficient than a traditional grid, and to allow for the integration of renewable energy sources such as solar and wind power. It also enables the use of smart meters, which can provide consumers with information about their electricity usage, and allow them to manage their consumption.

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The deployment of smart grids is an important part of the transition to a low-carbon economy, and can help to reduce greenhouse gas emissions.

Key Trends

There are a few key trends that are shaping the development of smart grid technology. One is the increasing penetration of renewable energy sources, such as solar and wind, onto the grid. This is causing a need for more flexible and resilient grid infrastructure that can accommodate the variability of these renewable resources. Another trend is the rise of electric vehicles, which are starting to place additional demands on the grid for charging. And finally, the increasing use of data and analytics is helping utilities to better understand and manage the grid.

All of these trends are driving the need for more advanced grid infrastructure that can handle the increasing complexity of the system. This includes things like advanced sensors, communication systems, and control technologies. It also requires a more sophisticated approach to managing the grid, which often relies on data-driven decision making.

Market Segments
By Component

• Solutions
• Services

By Solution

• Advance Metering Infrastructure
• Smart Grid Distribution Management
• Smart Grid Communication
• Smart Grid Network Management
• Substation Automation

Key Players

• GE Energy
• Siemens AG
• IBM
• Oracle
• Landis+Gyr
• Itron
• Aclara Technologies
• Schneider Electric
• Echelon Corporation
• OSIsoft
• Telvent
• Alstom

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Reasons to buy Smart Grid Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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This release was published on openPR.