Global Smart Grid Technology Market By Component (Software, Hardware, Services), Communication Network (Wide Area Network (WAN), Home Area Network (HAN)), Technology (Wired, Wireless), Application (Meter Hardware, Communications and Networking, Power Quality Equipment and Technologies), End User (Residential, Corporate, Government), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2027
Smart grid technology market is expected to witness market growth at a rate of 12.30% in the forecast period of 2020 to 2027. Data Bridge Market Research report on smart grid technology market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth.
Prevalence of favourable policies of the government, modernisation of grid infrastructure, rising awareness regarding the carbon footprint management, provision of improved grid reliability and efficient outage response are some of the factors which will likely to enhance the growth of the smart grid technology market in the forecast period of 2020-2027. On the other hand, rising number of smart cities projects along with rising need of digitisation in the power sector which will further bring various opportunities for the growth of the smart grid technology market in the above mentioned forecast period.
Lack of standards and interoperability along with high cost of deployment are acting as market restraints for smart grid technology in the above mentioned forecasted period. Data storage and management issues along with energy loss resulting in revenue loss which will become the biggest challenge for the growth of the market.
This smart grid technology 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, geographic expansions, technological innovations in the market. To gain more info on smart grid technology 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 Technology Market Scope and Market Size
Smart grid technology market is segmented on the basis of component, communication network, technology, application, and end user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Smart grid technology market on the basis of component has been segmented as software, hardware, and services. Software has been further segmented into advanced metering infrastructure, distribution management system, network management system, grid asset management, substation automation, grid security, billing and customer information system. Hardware has been further segmented as smart meter. Services have been further segmented into consulting, deployment and integration, support and maintenance.
- Based on communication network, smart grid technology market has been segmented into wide area network (WAN), and home area network (HAN).
- On the basis of technology, smart grid technology market has been segmented into wired, and wireless.
- On the basis of application, smart grid technology market has been segmented into meter hardware, communications and networking, power quality equipment and technologies. Power quality equipment and technologies have been further segmented into tap changers, capacitor switches, banks, voltage regulators, static compensators, and controls.
- Smart grid technology has also been segmented on the basis of end user into residential, corporate, and government.
Smart Grid Technology Market Country Level Analysis
Smart grid technology market is analysed and market size, volume information is provided by country, component, communication network, technology, application, and end user as referenced above.
The countries covered in the smart grid technology market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific will dominate the smart grid technology market due to the increasing need of the reliable and secure power supply while North America will expect to grow in the forecast period of 2020-2027 due to the surging levels of investment for the development of the power supply sector.
The country section of the 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 like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the 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 Technology Market Share Analysis
Smart grid technology 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, regional presence, 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 technology market.
The major players covered in the smart grid technology market report are IBM Corporation, General Electric Company, ABB, Siemens, Schneider Electric, Itron., Landis+Gyr., Aclara, Cisco, Open Systems International, Inc., Oracle, Eaton, Honeywell International Inc., S&C Electric Company, Kamstrup, Wipro Limited, Trilliant Holdings Inc., Globema, Tech Mahindra Limited., Enel X S.r.l., FUJITSU, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Smart Grid Technology Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.