3 Key Insights on Competitive Landscape in Global Smart Grid Market: Ken Research

Country-niche players and regional players constitute ~55% and ~40% of competitors respectively despite the presence of about ~400 competitors, find a recent market study on the Global Smart Grid Market

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: -

https://www.kenresearch.com/business-research/global-smart-grid-market-outlook-2028/

Large Global Players Hold Around 45% of the Market Share Followed by Regional Players Holding ~30% of the Market Share

A comprehensive competitive analysis conducted during the Research Study found that the Global Smart Grid Market is competitive with ~400 players which include globally diversified players, and regional players, as well as a large number of country-niche players.

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According to the research, the Large Global Players held the dominant position in the market in 2021, in terms of the market share with about ~45% followed by regional players which account for ~30% of the market share.

Players are Increasingly Investing in the Smart Grid Industry which is Promoting the Market Growth.

Due to the presence of numerous local businesses, the market is moderately fragmented. These market participants are pursuing methods like investments, collaborations, acquisitions, and mergers to increase their market share. Additionally, businesses are investing in the creation of enhanced products. They are also concentrating on keeping their prices competitive.

Increased Adoption of Smart Grid in Various Parts of the World leading to Major Industry-Wide Developments, Acquisitions, and Deal-Wins

In May 2021, Impact Solar, a Thai energy startup, collaborated with Hitachi ABB Power Grids to provide an energy storage solution for a privately owned microgrid. The Sriracha microgrid for Saha Industrial Park makes use of the battery energy storage and control equipment from Hitachi ABB Power Grids.
In November 2021, Dutch Rectifiers B.V. is acquired by Schneider Electric for DC Systems B.V. The company is headquartered in the Netherlands and is a start-up with a focus on active AC/DC microgrids, DC power conversion, and a wide range of DC solutions.

Schneider Electric is streamlining its portfolio with the acquisition of DC Systems to give customers more convenience and resilience for pertinent applications like constructing microgrids in uncertain public grid situations or remote applications like public lighting.

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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
ABB Ltd
Siemens
Itron, Inc.
Cisco Technology Company
Aclara Software Inc
OSI Systems
Oracle
Wipro
IBM

Notable Emerging Companies Mentioned in the Report

Iberdrola
Saudi Electricity
Eurogrid
Städtische Werke Magdeburg
Parabel
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: -

https://www.kenresearch.com/business-research/global-smart-grid-market-outlook-2028/

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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.