Press release
Smart Grid Technology Market Expects India’s Mammoth 100 Smart Cities Plan to Boost Future Revenue
The Smart Grid Technology Market is widely expected to serve as one of the key solutions to the rising demand for power. There is an expanding interest for dependable and persistent power supply, and this is particularly a region of worry in poor or developing economies of the world.The need to lessen transmission and dissemination inefficiency is yet another issue that needs to be sorted with the help of superior grid technology. Smart grid technology is equipped to solve the problems listed above and can basically revolutionize the current power grid. One of the central points driving the development of the Smart Grid Technology Market is the dramatic improvement in optimization as well as efficiency through the utilization of smart grid solutions.
Scope & Regional Forecast of the Smart Grid Technology Market
Government initiatives which are favorable to the adoption of the smart grid system is yet another factor driving the development of the Smart Grid Technology Market. The R&D efforts undertaken by various smart grid technology companies help in reducing the emission of harmful gases and reducing the overall effect of climate change. Cutting-edge smart grid innovations like IoT devices and the embrace of the ‘Smart City’ concept are have also opened up new opportunities for growth and expansion of the Smart Grid Technology Market.
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Factors like the exorbitant cost of entering the industry and a severe lack of regulations or guidelines are currently hindering the widespread embrace of smart grid solutions. From 2009 onwards, the U.S. has made a tremendous amount of investment on improving its power infrastructure and has currently assumed the leadership position in the Smart Grid Technology Market. This has given North America the main position in the worldwide market. But China is expected capture the largest share in market by the end of the forecast period.
Segmentations & Key Players Involved in the Smart Grid Technology Market
According to IndustryARC findings, the Smart Grid Technology Market can be broken down into various segmentations on the basis of –
Technology: Advanced Metering Infrastructure (Meter Data Management System, Analytics, Advanced Metering Infrastructure Security), Distributed Automation, Software, Hardware (Sensors, Smart Meters, Others), Communication Technologies, Cyber security, Transmission Upgrades, Services and Consulting and Others.
Service: Services and Consulting, Implementation and Deployment, Maintenance and Others.
Geography: Americas, Europe, Asia-Pacific and Rest of the World.
Some of the key players involved in the Smart Grid Technology Market according to IndustryARC are as follows:
Landis+Gyr
Tendril Networks, Inc.
GE Energy Management
ABB Ltd.
Eaton Corporation
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About IndustryARC:
IndustryARC is a Research and consulting firm that publishes more than 500 Reports Annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications of the Market. Our Custom Research Services are designed to provide insights on the constant flux in the global demand-supply gap of markets. Our strong analyst team enables us to meet the client research needs at a very quick speed with a variety of options for your business.
We look forward to support the client to be able to better address customer needs; stay ahead in the market; become the top competitor and get real-time recommendations on business strategies and deals. Contact us to find out how we can help you today.
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