Smart Grid Market Demand, Global Key Players, Application, Growth and Analysis - 2031

𝐒𝐦𝐚𝐫𝐭 𝐆𝐫𝐢𝐝 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧

The advent of smart grid technologies has emerged as the key solution to the operational challenges that utilities face in everyday life. The smart grid technology is just an advanced and a more expensive version of a conventional grid system. It is an electricity grid that uses two way technologies to deliver electricity and enable communication between utility and consumers. Communication networks and automation and sensing devices make the smart grid functional.

𝐆𝐞𝐭 𝐀 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬 -https://www.transparencymarketresearch.com/smart-grid-market.html

The global smart grids market exhibits a substantially competitive vendor landscape. Although the market is still in its developing stages, the competition is expected to get fiercer during the forthcoming years, mainly due to the entry of new players in this field.

The smart grid market is expected to expand at a CAGR of 17.8% during the forecast period from 2021 to 2031. In this context, the smart grid market was valued at US$ 139.5 Bn in 2020 and is expected to reach US$ 845.6 Bn by 2031.

Rising Awareness about Benefits of Smart Grids Boosts Global Market

Conventional electricity grids installed in many countries across the globe are now aging and causing large-scale electrical blackouts. Thus, every nation has a growing need to reduce the cost of blackouts and power outages. A smart grid technology gives consumers and suppliers the liberty to manage and protect the distribution network, save energy, and reduce such extravagant costs. Even the governments in most of the countries are incurring massive losses due to conventional electrical grids, and hence, they are now focusing on investing in smart grid technologies.

𝐆𝐞𝐭 𝐏𝐃𝐅 𝐬𝐚𝐦𝐩𝐥𝐞 𝐟𝐨𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞 -https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=137

The benefits of smart grid include improved energy efficiency and reliability of existing electrical supply, integration of more renewable energy into existing network, new solutions for customers to optimize their electricity consumption, and reduction of carbon emissions.

The global smart grid market seems to be fairly fragmented with presence of many well-entrenched enterprises. This also highlights that the competitive landscape is highly intense. Aclara, Alstom, Comverge, eMeter, GridPoint Inc, Landis+Gyr, Schneider Electric, Schweitzer Engineering Laboratories, Sensus, Siemens, ABB Ltd, Itron, Opower, and General Electric are some of the key participants of the global smart grid market.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 -https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=137

Global Smart Grid Market: Segmentation

Smart Grid Market, by Technology

Advanced Metering Infrastructure
Distribution Automation
Software and Hardware
Communication Technologies
Transmission Upgrades
Cyber Security

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 -https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=137

𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 -

Power Distribution Component Market - https://www.globenewswire.com/news-release/2022/09/29/2525512/0/en/Power-Distribution-Component-Market-to-Reach-US-15-3-Bn-by-2030-TMR-Study.html

Small Hydropower Market - https://www.prnewswire.com/news-releases/small-hydropower-market-to-expand-at-a-cagr-of-2-69-during-forecast-period-notes-tmr-study-301640681.html

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬

Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com

This release was published on openPR.