openPR Logo
Press release

3 Key Insights on US$ 100 Bn Opportunity in the Global Smart Grid Market: Ken Research

11-24-2022 01:27 AM CET | Energy & Environment

Press release from: Ken Research Pvt .Ltd

3 Key Insights on US$ 100 Bn Opportunity in the Global Smart Grid

Driven by the development of renewable and sustainable energy sources and growing efforts to reduce carbon emissions. Furthermore, the adoption of hybrid and electric vehicles has increased quickly around the world, which has led to an increase in energy demandergy, the Global Smart Grid Market is Forecasted to Reach US$ 100 Bn by 2028 says Ken Research Study.

A smart grid is an electrical system that uses cutting-edge digital and other technology to track and control the flow of electricity from all sources of generation to satisfy the various needs of end consumers. The needs and capabilities of all generators, grid operators, end users, and electricity market participants are coordinated by smart grids to operate every component of the system as effectively as possible, minimizing costs and environmental impacts while maximizing system dependability, resilience, flexibility, and stability.

Ken Research shares 3 key insights on this high-opportunity market from its latest research study.

For more insights on the market intelligence, refer to the link below: -

1. Rising Inclination Towards Sustainability to Propel the Market's Growth Rate

According to Research estimates, the Global Smart Grid Market - which was valued from around US$ 30 Bn in 2017 to nearly US$ 50 Bn by 2022 - is expected to grow further to more than US$ 100 Bn opportunities by 2028.

The market is anticipated to experience considerable expansion due to the growing demand for high-quality, secure, and dependable power supply. Global demand for smart grids is being shaped by growing worries about carbon footprint and the need to replace old infrastructure. A centralized grid distribution management and control system is also required. The market will expand as a result of the strong demand for smart grids from several economies and the rise in ICT spending.

Request For Sample Report @

2. Global Market Acceleration Due to Growing Smart Grid Awareness

The awareness of the benefits of a smart grid including reduced carbon emissions, improved energy efficiency, stability of the current electrical supply, integration of more renewable energy sources into the current network, and new ways for customers to optimize their electricity use is pushing up the consumers spending into smart grids and other utility analytics equipment. Large-scale electrical blackouts are being brought on by the old conventional energy systems that were once established in developing countries. Therefore, there is an increasing need for every country to lowering the price of blackouts and power outages.

The freedom to monitor and safeguard the distribution network, conserve energy, and cut such exorbitant costs is provided by smart grid technology to suppliers and customers. Because conventional electrical grids cause governments in the majority of nations to suffer enormous losses, they are now concentrating on investing in smart grid technologies.

3. High Initial Investment to Limit the Market Growth 

The automation process includes implementing smart grid solutions in factories. Adoption of automation equipment can be one of the most expensive processes and demands a significant investment of resources. In addition to the upfront fees, several unforeseen expenses could end up costing more than the company saves by automating.

Some of these expenses include the price of automating a process and the costs of maintenance, repairs, and research & development. The cost of training employees to operate a smart grid is another factor that limits market expansion. The majority of smart grid solutions also require more space, which presents a significant problem for small-scale businesses.

Request For Sample Report @

Key Topics Covered in the Report

Snapshot of the Global Smart Grid Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Smart Grid Market
Historic Growth of the Overall Global Smart Grid Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter's 5 Forces Analysis of the Global Smart Grid Market
Overview, Product Offerings, and SWOT Analysis of Key Competitors
COVID-19 Impact on the Overall Global Smart Grid Market
Future Market Forecast and Growth Rates of the Total Global Smart Grid Market and by Segments
Market Size of Component / Technology Segments with Historical CAGR and Future Forecasts
Analysis of the Smart Grid Market in Major Regions
Major Production / Consumption Hubs in the Major Regions
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Major Country

Major Players Mentioned in the report

General Electric
Schneider Electric
Itron, Inc.
Cisco Technology Company
Aclara Software Inc
OSI Systems

Notable Emerging Companies Mentioned in the Report

Saudi Electricity
Städtische Werke Magdeburg
Ningbo Sanxing Medical Electric Co., Ltd.

Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report

Electricity Smart Grid Manufacturers
Water Smart Grid Manufacturers
Component Suppliers for
Electronic Equipment Manufacturers
Steel and Iron Manufacturers
Government Ministries and Departments of Energy
Electricity Smart Grid Investors
Artificial Intelligence Companies
Energy & Power Regulatory Authorities

Time Period Captured in the Report

Historical Period: 2017-2021
Forecast Period: 2022E-2028F

For more insights on the market intelligence, refer to the link below: -

Follow Us -

Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India

Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release 3 Key Insights on US$ 100 Bn Opportunity in the Global Smart Grid Market: Ken Research here

News-ID: 2819106 • Views: 513

More Releases from Ken Research Pvt .Ltd

3 Key Insights on US$ 130 Bn Opportunity in the Global Biophotonics Market: Ken …
Driven by the recent surge of nanotechnology, combined with increasing demand for home-based Point-of-Care (POC) devices, the Global Biophotonics Market is Forecasted to Cross US$ 100 Bn by 2028 says Ken Research Study. Biophotonics is the exploration of light in conjunction with biology. It can aid surgeons in understanding how cells and tissues function. This light technique collects a sample of both diseased and healthy tissue for use in the diagnosis, treatment,
KSA Real Estate Service Market Analysis, Future Outlook and Growth: Ken Research
How Real estate Market is positioned in KSA? Overview: The report titled "KSA Real Estate Service Market Outlook to 2026F - Driven by Development towards Vision 2030 and Sustainable Smart City Developments" provides a comprehensive analysis on the real estate services market in KSA. The report covers various aspects such as KSA real estate services such as Market Introduction, Ecosystem, and Market Sizing, market Segmentation basis region, segmentation by services and by
Malaysia Online Insurance Market Growth, Trends, Developments and Outlook to 202 …
How Online insurance industry is positioned in Malaysia? Malaysia Online Insurance Market display a stable growth since 2016 growing at single digit CAGR ~%. Online Insurance market revenue stood at RM ~ Mn at 2018 and witnessed massive growth at a CAGR of ~% due to the impact of Covid-19 pandemic. Out of total insurance market, online has very insignificant share standing at ~X%. The online insurance industry is still in
An increasing ageing population, changing lifestyles, and increased private and …
"The Dental Services Market in India saw a dip in the growth rate in FY'2021 due to the Covid-19 pandemic and dental clinics being shut down, but with everything opening back up the growth rate has gone back up." India Dental Services Market Overview: The India Dental Services Market is currently at the growth stage owing to the rising independent dental clinics, demand for cost efficiency, personal attention and upgradation in

All 5 Releases

More Releases for Smart

Smart Cities Market is Expected to Witness CAGR of 17.3% by 2027 with Applicatio …
A smart city is an urban unit or area that uses various types of electronic Internet of Things (IoT) devices to collect data and then use the insights to manage resources, assets, and services effectively. Green building is a growing trend in the global smart cities market. Constructing eco-friendly infrastructure facilities can provide a sustainable environment in the cities. Moreover, governments are focused on constructing energy-efficient buildings, in order
Global Smart Cities Market by Component (Hardware, Software) by Application (Sma …
Global Smart Cities Market: Overview The global smart cities market is expected to reach a mark of over USD 3000 billion by 2024, at a CAGR over 21% during the forecast period. Significant growth in next-generation technologies such as artificial intelligence AI, personalized healthcare, sustainable energy generation and robotics are driving the smart cities’ future. Moreover, the increase in residential preference towards the adoption of advanced information and communication technologies ICT
Survey Report on Smart Kitchen Appliances Market 2018: Smart Refrigerator, Smart …
The report analyzes and presents an overview on "Global Smart Kitchen Appliances Market Professional Survey Report 2018" worldwide. This report studies Smart Kitchen Appliances in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions, from 2013 to 2018, and forecast to 2025. The study objectives of this report are: To study and forecast the market size of Smart
IoT Device Management Market Analysis by Application - Smart Manufacturing, Smar …
IoT device management comprises of multiple operating systems and several varieties of communication methods and protocols targeted at conducting smooth functioning of smart devices. The service of IoT device management has become vital for the business sector in recent years due to the rising use of remote operation in a number of industries and the subsequent need to manage the operation of the devices. The global IoT device management market is
The shipping world needs to wake up and embrace the philosophy of smart shipping because it is already here and the downturn in the world economy is not going to last forever, according to Panos Kirnidis, CEO of the Palau International Ship Registry. “The maritime industry knows that smart ships and smart technology is the way forward and yet there seems to be reluctance on the part of some owners to
Smart Kitchen Appliances Market : Smart Refrigerators, Smart Dishwashers, Smart …
Albany, New York, July 20, 2017 : Recent research and the current scenario as well as future market potential of "Smart Kitchen Appliances Market (Products - Smart Refrigerators, Smart Dishwashers, Smart Ovens, Smart Cookware and Cooktops, Smart Scales and Thermometers and Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022" globally. Smart kitchen appliances are premium appliances that are designed for comfortable and efficient operation as