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Smart Grid Solution Market: Applications and Global Market Trends 2017- 2025
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Grid Solutions provides a smart energy management solution which controls and optimizes the full range of local energy resources available to solar districts in real time through an array of flexible solutions that are compared and incorporated into the grid. Smart grid solutions offers self-service energy manager, innovative social media platforms, convenient mobility solutions, integrated data analytics.
The major growth drivers of the Smart Grid Solution market include increasing spending on energy efficiency programs coupled with regulatory government mandates. In addition, need for centralized gird distribution management and control, and increasing concern for reducing carbon footprints shall drive the growth of Smart Grid Solution market. Adaptation due to mandatory regulations and policies across the globe has led to growth of the Smart Grid Solution across the globe.
However, the major challenge faced by the Smart Grid Solutions providers are high cost and discrepancy in demand-supply ratio for smart grid solutions, may hamper the growth of the portable display market across the globe.
Global Smart Grid Solution market on the basis of product type segmented into advance metering infrastructure (AMI), smart grid distribution management, smart grid communication, grid asset management, substation automation, billing and customer information system.
Key Contracts in Smart Grid Solution market are as:
In January 2017, Oracle Corporation and Huawei technologies entered into strategic partnership, with an aim to provide smart grid solutions
North America is holding the largest market share for Smart Grid Solution market due to 2016due to increasing spending on energy efficiency programs coupled with regulatory government mandates in the U.S. and Canada. Due to high technological innovations in Asia Pacific will hold maximum market share for Smart Grid Solution in near future. Europe is fastest growing market for Smart Grid Solution due to rapid smart grid deployments. Sturdy economic progress, driving the growth of Smart Grid Solution market in MEA region. The Demand for Smart Grid Solution market has risen dramatically over the past 2 years globally.
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Some of the major players in Global Smart Grid Solution Market Cisco Systems, Inc., Aclara Technologies LLC, Open Systems International, Inc., IBM Corporation, Wipro Ltd. Oracle Corporation, Infosys, Huawei and others.
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