Global Smart Grid Networking Market, By Hardware (Controllers, Cables, Smart Meter Communication Modules, Routers, Switches, and Other Hardware), Software (Internet Protocol Address Management, Network Performance Monitoring Management, Network Device Management, Network Traffic Management, Network Security Management, Network Configuration Management, and Other Software), Services (Network Planning, Consulting, Network Risk and Security Assessment, Design and Integration, Support Services, Network Maintenance and Other Services), Application (Transmission, Demand Response, Advance Metering Infrastructure (AMI), and Other Application Areas), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) - Industry Trends and Forecast to 2029
Market Analysis and Insights of Smart Grid Networking Market
Surge in the rate of digitization especially in the developing economies, growing adoption of property management software solutions by small and medium scale enterprises and increased investment and deployment of smart grid technologies such as smart meters are the major factors attributable to the growth of the smart grid networking market. Data Bridge Market Research analyses that the smart grid networking market will exhibit a CAGR of 11.40% for the forecast period of 2022-2029.
Smart grid networking refers to a system of electronic network that enables two-way digital communication system and real-time collection pertaining to electricity demand, supply and other relevant data. Smart grid networking involves the application of smart sensors and power meters during the distribution and transmission process of electricity.
Rising demand from the buildings and construction industry especially in the developing economies will emerge as the major market growth driving factor. Surging demand for cost efficient energy globally, growing adoption of new and advanced technology, growing introducing software-based architecture in emerging nations, surging investment in the workforce management and quality monitoring and strengthening IT industry in developing economies such as India and China will further aggravate the growth of the market. Rising construction of residential and commercial properties, growth in the proliferation of distributed energy sources such as photovoltaic (PV) , rising availability of high speed internet facility, supportive regulatory framework of governments and growth in the number of research and development proficiencies by the major players are some other factors bolstering the growth of the market.
However, lack of technological expertise in underdeveloped and developing economies high installation costs of smart grids will act as growth restraints for the market. Also, dearth of awareness in the underdeveloped economies and complexities associated with the storage and management of data generated by smart grid infrastructure will yet again hamper the market growth rate. Lack of strong infrastructural facilities in the backward economies and lack of standardisation and data management efficiency will also challenge the market growth rate.
This smart grid networking market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on smart grid networking market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Smart Grid Networking Market Scope and Market Size
The smart grid networking market is segmented on the basis of hardware, software, services, and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of hardware, the smart grid networking market is segmented into controllers, cables, smart meter communication modules, routers, switches, and other hardware.
- On the basis of software, the smart grid networking market is segmented into IP address management, network performance monitoring management, network device management, network traffic management, network security management, network configuration management, and other software.
- On the basis of services, the smart grid networking market is segmented into network planning, consulting, network risk and security assessment, design and integration, support services, network maintenance and other services.
- On the basis of application, the smart grid networking market is segmented into transmission, demand response, advance metering infrastructure (AMI), and other application areas.
Smart Grid Networking Market Country Level Analysis
The smart grid networking market is analysed and market size, volume information is provided by country, hardware, software, services, and application as referenced above.
The countries covered in the smart grid networking market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the smart grid networking market and will continue to flourish its trend of dominance during the forecast period owing to the favourable government policies.
The country section of the smart grid networking market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Grid Networking Market Share Analysis
The smart grid networking market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to smart grid networking market.
Some of the major players operating in the smart grid networking market ABB, Cisco Systems, Inc., Schneider Electric, Lockheed Martin Corporation, Sophos Ltd., GENERAL ELECTRIC COMPANY, Honeywell International Inc., Siemens, Eaton, Itron Inc., BAE Systems, N-Dimension Solutions Inc., AlertEnterprise Inc., Sophos Ltd., Sourcefire, Sentryo, IOActive Inc., and OSAKI ELECTRIC CO., LTD. among others.
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