Press release
Smart Grid Communications Market to Record Ascending Growth by 2025
Smart grid technology has been adopted across many developed nations in order to address growing problems associated with the distribution and transmission facilities of the electrical distribution and transmission companies.
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Implementation of smart grid improve efficiency, security and reliability of the electrical grid. In order to develop and establish a smart grid system an efficient communication systems need to be implemented along with the smart grid network. Both smart grid communication and smart grid systems market are expected to grow simultaneously due to rise in adopting smart grid technologies rather than traditional equipment. Communication systems form the key component of any smart grid infrastructure owing to the simple fact that a majority of smart grid functions occur on a real time basis.
Global Smart Grid Communications Market: Market Drivers
The major market driver for the growth of global smart grid communication systems is that every electrical utility setting on a smart grid system has to be carefully analyzed for communication for better efficiency of the smart grid.
With the implementation of more advanced technologies and integrated those with the smart grid generate a large volume of data which need to be analyzed carefully in order to plan the load scheduling for the generating stations. Therefore, effective communication system needs to be implemented which can helps to share the data securely and cost effectively throughout the power grid and the data center which is one of the major market driver for global smart grid communication.
The level of security and the capability to store information at same time by the implementation of smart grid communication systems is expected to show a positive impact on the global smart grid communication market.
Many organization and electrical company has to replace aged electrical infrastructure. Due to slow response time and high replacement cost of smart grid communication system enterprises are not ready to upgrade their old electrical infrastructure which hinders the demand for smart grid communication market.
Global Smart Grid Communications Market: Segmentation
The Global Smart Grid Communications market is segmented based on the type, by vertical and by region
On the basis of type Global Smart Grid Communications market is segmented, wired and wireless communications systems
On the basis of application Global Smart Grid Communications market is segmented into Command & control, communications, computers, surveillance & reconnaissance.
One the basis vertical global Smart Grid Communications market is segmented to media and entertainment sector, BFSI, healthcare sector, transportation, public sector, manufacturing sector, retail sector, IT & Telecom sector, energy & utilities and others.
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On basis of region global Smart Grid Communications Market is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific and Middle East & Africa (MEA).
Global Smart Grid Communications Market Overview:
North America and Europe Smart Grid Communications Market is expected to have the major market share during the forecast period. Asia Pacific region is likely to show promising growth in Smart Grid Communications Market primarily from china and India.
Global Smart Grid Communications Key Market Players:
Some of the Key players in Smart Grid Communications Market include IBM Corporation, ABB Ltd, Schneider Electric SE, Cisco systems Inc., Itron Inc., Verizon communications Inc., Siemens AG and Ingenu Inc.
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