Smart Grid Market Growth Drivers 2022 by CAGR of 19.1%, Share, Trends, Business Opportunities with Challenges till Forecast 2029

The Global Smart Grid Market is forecast to reach above USD 145.65 billion by 2028 by rising at a compound annual growth rate (CAGR) of 19.1% throughout the forecast period from 2019 to 2028

Smart Grid Market Overview

Over the forecast period, the worldwide smart grid market is expected to increase significantly. Smart grids are gaining in popularity as a result of rising electricity demand and supportive policies from governments in various places throughout the world. The global industry is being driven by the increased deployment of centralised grid distribution management and control. Smart metres' popularity, as well as regional government initiatives and funding for smart grid projects, are likely to propel the market forward. Furthermore, an increase in the number of market participants around the world is helping to the growth of the smart grid industry, resulting in lucrative income potential for market participants. Cities are being transformed into smart cities by governments from all around the world. Furthermore, market participants' coordinated efforts

The global Smart Grid market report widely offers the latest information about technological developments and market growth forecasts based on the regional landscape.

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Industry Development

Schneider Electric plans to double its exports from India over next 4 years: CEO

India is one of Schneider Electric's most important export bases where the French energy and automation giant has a listed entity, subsidiaries and a strong R&D base, said Jean-Pascal Tricoire, its chairman and CEO. In an exclusive interview with ET's N ehal Chaliawala and Satish John, Tricoire said the company is looking to double its exports from India over the next four years.

Research Methodology:

To calculate the market size, the report considers the revenue generated from the sales of Smart Grid market manufacturers. The revenue created from the sales of Smart Grid Market has been calculated through primary and secondary research.

The market size assessment also considered leading players revenues as part of triangulation the key players considered are ABB, Honeywell International, Inc., Schneider Electric, IBM, Itron, Siemens, General Electric, Eton, Tech Mahindra, Mitsubishi Electric and Others.

The Smart Grid Market has been segmented as below:

Global Smart Grid Market by Components, 2019-2028, (In USD Million)

Software

Advanced Metering Infrastructure

Smart Grid Distribution Management

Smart Grid Network Management

Grid Asset Management

Substation Automation

Smart Grid Security

Billing And Customer Information System

Hardware

Smart Meters

Sensors

Programmable Logic Controller (PLC)

Others (Networking Hardware and Energy Storage)

Services

Consulting

Deployment And Integration

Support And Maintenance

Global Smart Grid Market by Application, 2019-2028, (In USD Million)

Generation

Transmission

Distribution

Consumption

Global Smart Grid Market by Communication Technology, 2019-2028, (In USD Million)

Wireline

Wireless

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Smart Grid Market: Regional Analysis

Geographically, this report is segmented into several key countries, with market size, growth rate, import and export of Smart Grid market in these countries, which covering North America, U.S., Canada, Europe, UK, Germany, France, Spain, Italy, ROE, Asia Pacific, China, India, Japan, Australia, South Korea, RoAPAC, Latin America, Brazil, Mexico and Rest of the World.

Geographically, the market is dominated by APAC, North America and Europe.

Major Key areas that have been focused on in the report:

Raw material supply analysis
Major trends noticed in the Global Smart Grid Market
Market Geographic limitations, and pricing issues
Distribution, scheduling, performance, and supplier requirements
Growth opportunities that may emerge in the industry in the upcoming years
In-depth value chain analysis
Sustainability trends and environmental concerns
Market Gap and Opportunities
Global Market Growth Drivers, Opportunities, and Constraints.

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