Smart Grid Market Analysis 2017 (By Segment, Key Players and Applications) and Forecasts To 2024

Market Overview
Emerging digitalization is becoming highlighting factor for deployment of modernized equipments and technologies in energy sector. Loss of revenue due to defects in grid and energy distribution and metering is creating huge business opportunities for smart grid component manufacturers, installers and service providers. Rising power generation sector and swelled energy consumption is awakening the need of smart grids across the globe. Transmission and distribution (T&D) equipment, smart grid information communications technologies (ICT), and energy storage are three sub sectors for smart grid products and services. According to Goldstein Research, smart grids have potential to save energy worth over USD 40.1 billion in one year.Automation and smart technologies is enhancing the market for information communication technologies (ICT) and deployment of smart meters that helps in increasing the efficiency of power grids. Smart meter is the major innovation which is proved as an efficient tool for energy conservation. Nearly, USD 14.0 billion was invested in smart meters deployment across the globe in 2016. Over 40% of Americans are using smart meters at their homes. Smart grids are using new technologies to manage the power generation and distribution and reducing the carbon emissions. More than 60% of world’s population is expected to live in cities by the end of 2024 which is supporting the need for smart network distribution. Rising urbanization is also one of the key factors which are propelling the market for smart grid.

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Key Market Players
• General Electric Company
• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis
• Siemens AG
• Itron, Inc.
• ABB Ltd
• Eaton Corporation Plc
• IBM Corp
• Cisco Systems

Market Segmentation
Global smart grid market is segmented on following basis:
• By Hardware
o Sensors
o PLC (Programmable Logic Controller)
o Smart Meter
o Networking Hardware
• Based on Software
o Advanced Metering Infrastructure Software
o Grid IT and Asset Management System Software
o Smart Grid Communication Software
o Cyber security Software
o Distribution Automation Software
• By Services
o Consulting Services
o Integration and Installation Services
o Maintenance Services

Market Drivers and Challenges
Emerging technologies are considered as a major driving factor for smart grid. Smart grid is capturing telecommunication and energy sector and witnessing significant investment in smart grid technologies and solutions. Optimized distribution of generated power is increasing the efficiency of power grid. Deployment of advanced sensors and two way communication networks is helping in remote monitoring and multiple supports for renewable power sources. Smart meter is drastically changing the market for smart grid by efficient monitoring of energy consumption. Distribution of power without any external disturbance is also increasing the demand for smart grid distribution network. Political and environmental factors are rapidly driving the demand for smart grids. Smart grid can reduce 25% air pollution in energy sector. Countries such as United States and India have major power generation from coal. This is a major opportunity for key players to implement the smart grid technology in renewable power sources which will reduce the environmental pollution and enhance the sustainable development.

Scope Background
Market Synopsis
Market Segmentation
The global smart grid market is segmented as follows:
• By Hardware Type (Market Size, Demand Analysis and Growth Analysis)
• By Software Type (Market Size, Demand Analysis and Growth Analysis)
• By Service type (Market Size, Demand Analysis and Growth Analysis)

Market Dynamics: Growth Drivers, Restraints and Opportunities
• Risk Factors
• Regional Variations
• Recent Trends and Developments
Key Market Players
• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis

Porter’s Five Force Model
Market Landscape: Competition and Beyond
Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
Expert Analysis
Concluding Remarks
…Continued

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