Press release
Smart Grid Market by Application Development, Trends & Forecast, 2017 – 2024
Order This Report by calling Global Market Insights, Inc. at 1-888-689-0688 (Toll Free) or 1-302-846-7766.
Growing investments towards the integration of renewable energy sources with the national and state grid for delivering reliable and clean electricity will augment the smart grid market. For instance, the EU has set target for member countries to increase the penetration of renewable energy by 20% in the total energy supply by 2020.
Request for an in-depth table of contents for this report @ https://www.gminsights.com/request-toc/upcoming/1365
The need for replacing aging grid infrastructure with advance and secured systems in line of reducing frequent outages will further augment the smart grid market size over the forecast time frame. In 2016, Government of Australia had announced the investment of over USD 6.1 billion from 2017 to 2027 towards deployment of smart meters, battery storage, advanced sensors and communications across the transmission network.
Based on technology smart grid market is segmented into advanced metering infrastructure, smart grid communication, distribution management, billing & customer information system, grid asset management and geographic information system. The advanced metering infrastructure provides two-way communication and provides real time power consumption data to utility companies. The communication technology is useful for successful operation of systems.
The service smart grid market is segmented as consulting, support & maintenance and deployment & integration services. The increase in demand of system integrators for application technology integration, database design and modelling, and software development act as a major driving factor influencing industry size. The deployment & integration service is set to expand at significantly during the forecast period.
Browse complete summary of this report @ https://www.gminsights.com/industry-analysis/smart-grid-market
North America dominated the global smart grid market during the forecast period owing to adoption of new software services and technological advancement in the industry. However, towards the end of forecast period, the industry is expected to see a slowdown as majority of the smart grid projects for investor owned large utilities in the U.S., funded by American Recovery and Reinvestment Act 2009, reached completion.
Asia Pacific smart grid market is anticipated to witness exponential growth due to the innovative political and economic reforms to strengthen the grid infrastructure. In Europe, France, UK, and Switzerland is set to witness substantial development due to rising investments towards the development of long distance grid network. Other countries including Russia, Germany and Sweden are expected to register a rapid upsurge in the demand for power and this calls for advancement of end use infrastructure and appliances, operating at low power levels efficiently.
Make an Inquiry before buying @ https://www.gminsights.com/inquiry-before-buying/1365
Notable industry participants in the smart grid market are General Electric, Itron, ABB Group, Cisco Systems, Oracle Corporation, Siemens AG, Open Systems International and Landis+Gyr AG. The leading players are adopting several strategies such as collaborations and acquisitions and thereby increasing their geographical extent in developing markets like Asia Pacific and Africa to increase their market share.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
29L Atlantic Avenue, Suite L 105
Ocean View Delaware 19970 United States
Email: sales@gminsights.com
This release was published on openPR.
Permanent link to this press release:
Copy
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 Smart Grid Market by Application Development, Trends & Forecast, 2017 – 2024 here
News-ID: 520839 • Views: …
More Releases from Global Market Insights, Inc.
Hepatitis B Vaccine Market Set to Surpass $12 Billion by 2034
The global hepatitis B vaccine market is poised for significant expansion over the next decade, fueled by rising liver disease cases, expanded immunization coverage, and advancements in vaccine development. Valued at USD 6.7 billion in 2024, the market is projected to reach USD 7.3 billion in 2025 and surge to USD 12 billion by 2034, reflecting a healthy compound annual growth rate (CAGR) of 5.7%.
A major driver behind this growth…
Rare Sugar Market Top 3 Trends, Covid-19 Outbreak, Factors Driving, Threats, Cha …
Rising awareness regarding health & fitness and the subsequent shift in consumer trends towards low-calorie sweeteners will boost rare sugar market share over the forecast spell. Recent years have marked a steady rise in the prevalence of cardiovascular ailments, diabetes, and obesity, among other chronic conditions, which have triggered a massive change in consumer perceptions towards health.
This in turn has led to a surge in demand for various functional foods…
Global Selenium Yeast Market Industry Assessment, Trends, Competitive Landscape, …
The selenium yeast market is anticipated to register substantial gains on account of rising inclination towards organic additives in animal nutrition, with an aim to improve livestock health and production. Consumers are steadily becoming aware of the downsides associated with using synthetic additives. As a result, they are preferring selenium yeast feed grades over other counterparts to provide balanced nutrition to their livestock.
According to Global Market Insights Inc estimates…
Power Distribution Component Market Share, Size, Trends by 2025 | Leading Key pl …
Global Power Distribution Component Market Report offers market overview, segmentation by types, application, countries, key manufactures, cost analysis, industrial chain, sourcing strategy, downstream buyers, marketing strategy analysis, distributors/traders, factors affecting market, forecast and other important information for key insight.
Request a sample of this research report @ https://www.gminsights.com/request-sample/detail/3091
Voltage rating have acted as a standard industry protocol toward the installation of power components reliant on regulatory preference, deployment areas, and the group…
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…
Internet of Things (IoT) Devices Market By Type (Computing Devices, Smart Media, …
On a global scale, the Internet of Things (IoT) Devices market is currently showing significant development. The innovative methods and market study have helped many of the major players Samsung Electronics, Apple, Lenovo, ASUS, Acer, Huawei, Coolpad, LG Electronics, Google, Panasonic, Microsoft, Brother Industries, Honeywell, Fitbit, Lenovo to carve a name for themselves in the competitive global market. The Internet of Things (IoT) Devices market is experiencing a massive growth…
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…
Global Smart Infrastructure - A Smart Approach To Smart Cities In 2016
Slowly but surely we are beginning to see a transformation take place in many parts of the world, as governments and councils realise they need to take a holistic approach to future city-wide development. In Australia, for example, we see that Adelaide, Canberra, Newcastle, Lake Macquarie, Sydney, Ipswich and Sunshine Coast have all been identified as being among the leading smart cities. The Netherlands also has great examples of emerging…
Global Smart Infrastructure - A Smart Approach To Smart Cities In 2016
The global smart city transformation is underway
Slowly but surely we are beginning to see a transformation take place in many parts of the world, as governments and councils realise they need to take a holistic approach to future city-wide development. In Australia, for example, we see that Adelaide, Canberra, Newcastle, Lake Macquarie, Sydney, Ipswich and Sunshine Coast have all been identified as being among the leading smart cities. The Netherlands…
Smart Kitchen Appliances Market ( Smart Refrigerators, Smart Dishwashers, Smart …
The rising demand for smart kitchen appliances is linked to their premium design that offers better effectiveness and more comfort than their traditional counterparts. With energy efficiency at its core, the global market for smart kitchen appliances is expected to surge at a robust pace in the near future.In a report titled “Smart Kitchen Appliances Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022,” Transparency…
