Press release
Smart Grid Managed Services Market To Expand At 44.51% CAGR From 2016 To 2020
Based on the aforementioned indices, the growth rate and market size for smart grid managed services until 2020 are presented in this report. This is followed by a look into the strengths, weaknesses, opportunities, and threats of this market until the end of the forecast period.
Smart grid managed services involve synchronization of smart grid software and its associated hardware components. Smart grid installations facilitate and enhance a utility’s network, deploying and strengthening functionality and customer services by introducing next-generation solutions. Smart grids are also inclusive of the deployment of AMI (automated meter infrastructure) and smart meters on a large scale and in present times, the utilization of these meters is exemplary of the work in progress for the shift from existing utility provisions to smart grids. Smart grid services are extended to different various end users such as energy companies and independent power producers (IPPs).
According to the report, the global smart grid managed services market will expand at a whopping 44.51% CAGR for the 2016-2020 period.
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The report states that increased investment in smart grid technologies is the foremost reason propelling growth of this market. This is because smart grids are designed to connect and protect intelligent infrastructure, resulting in better business outcomes. However, the high cost of upgrading to smart grids is holding back deployment of smart grid managed services. In particular, smaller utilities face challenges in the development and deployment of AMI. In addition, the lack of integration standards for smart grid technologies is also detrimental to the market’s growth.
Nevertheless, rapid installation of smart grids is a marked trend that in turn is assisting the progression of the smart grid managed services market. This is expected to fulfill the ever-increasing demand for energy.
In matters of competition, top vendors that operate in this market are mentioned and a detailed competitive profile provided for each of them. These are Accenture Plc, GE-Alstom (General Electric Co.), Capgemini SA, Siemens Corp., and IBM Corp. Company positioning, financial standing, and SWOTs are the attributes that these companies are profiled for herein. Some other prominent vendors that have a presence in the said market are Alcatel-Lucent US, EnerNOC, FirstCarbon Solutions, Infosys, Lockheed Martin, Trilliant Energy Services, AT&T, Ericsson, HCL Technologies, Itron, Tendril Networks, and Wipro.
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