Smart grid networking Market Size, Share, Overview, Growth Factors and Competitive Players Till 2028

The smart grid networking is the bi-directional flow of electricity and information. These networking solutions are useful for utility operators in forecasting the expected electricity demand for commercial, residential, and industrial purposes during peak hours. With the growing number of industries and consumers, power demand is expected to rise exponentially in the future and it will in turn create the need for efficient networking. Besides, shifting focus towards consumption of renewable energy across the globe is resulting in rapid replacement of traditional grids with smart grids and deployment of smart grid networking.

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The Key Players in The Global Market Are: 

ABB Group
Cisco Systems, Inc.
Fujitsu Limited
General Electric Company
Huawei Technologies Co., Ltd.
Itron Inc.
Mitsubishi Electric Corporation
Nokia
Schneider Electric
Siemens AG

The smart grid networking market is anticipated to grow in the forecast period owing to driving factors such as increasing focus on renewable energy generation coupled with high demand for peak-hour electricity. Also, environmental concerns associated with non-renewable energy generation are likely to favor the growth of the smart grid networking market. However, associated high cost and cyber security are some challenges faced by the market during the forecast period. On the other hand, ongoing major upgradation of projects for installation of smart grids offer substantial opportunities for market players.

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The report segments the global Market as follows:

The global smart grid networking market is segmented on the basis of hardware, software, and service. Based on hardware, the market is segmented as controllers, cables, routers, and others. On the basis of the software, the market is segmented as IP address management, network traffic management, network security management, network device management, and network configuration management. The market on the basis of the service is classified as network planning, network risk and security assessment, design and integration, and network maintenance.

The "Global Smart Grid Networking Market Analysis to 2028" is a specialized and in-depth study of the technology, media and telecommunications industry with a special focus on the global market trend analysis. The report aims to provide an overview of smart grid networking market with detailed market segmentation by hardware, software, service, and geography. The global smart grid networking market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading smart grid networking market players and offers key trends and opportunities in the market.

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global smart grid networking market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The smart grid networking market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

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Answers that the report acknowledges:

Market size and growth rate during forecast period.
Key factors driving the Market.
Key market trends cracking up the growth of the Market
Challenges to market growth.
Key vendors of Smart grid networking Market
Detailed SWOT analysis.
Opportunities and threats face by the existing vendors in Global Market
Trending factors influencing the market in the geographical regions.
Strategic initiatives focusing the leading vendors.
PEST analysis of the market in the five major region

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Phone: +1-646-491-9876

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This release was published on openPR.