The study further explores and provides an in-depth analysis of current market dynamics and recent trends, focusing on various key factors and potential growth opportunities and risks. The report focuses on leading regions and their major countries to anticipate market growth in the forecast years.
The global Smart Grid Market will be worth USD 122.97 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing initiatives of the government to adopt renewable sources of energy and reduce the carbon dioxide emission levels. Besides, the increasing supportive policies and regulations of the government regarding the adoption of the smart grid technologies is expected to boost the market growth over the forecast period.
The emergence of smart cities increases the need for advanced smart grid technologies, which is most likely to propel the industry's growth. The lower operating cost of the advanced metering technologies is a key contributing factor to the increasing demand of the system. The market players are investing in the research and development to produce more technologically advanced systems. The smart grid technology is expected to generate more accurate electricity bills compared to traditional power systems. Besides, automatic self-healing and easy fault detections are some of the factors driving the demand of the system.
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Key geographical areas:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
Competitive Landscape:
The latest report encases an in-depth summary of the intensely competitive landscape of the Smart Grid market, with systematic profiling of the companies operating across this industry. In this section of the report, experts have listed down the strategic initiatives undertaken by these market rivals for proposed business expansion. Additionally, it highlights the key developments and financial positions of these companies to explain the overall market scenario. The company profiles of the established and new players have also been assessed in the report through effective analytical tools like SWOT analysis.
Key participants include ABB, General Electric, Siemens, Itron, Aclara, Schneider Electric, Cisco, S C Electric Company, Oracle, and IBM, among others.
Emergen Research has segmented the global Smart Grid Market on the basis of Technology, Services, End User, and region:
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Smart Grid Distribution Management
- Advanced Metering Infrastructure
- Smart Grid Network Management
- Smart Grid Security
- Others
Services Outlook (Revenue, USD Billion; 2017-2027)
- Deployment and Integration
- Consulting
- Support and maintenance
End User Outlook (Revenue, USD Billion; 2017-2027)
- Commercial
- Industrial
- Residential
The report addresses the following key points:
- The report provides a forecast of Smart Grid market, restraints, and future opportunities for the Smart Grid market
- The report further analyses the changing market dynamics
- Regional analysis and segmentation of the Smart Grid market with analysis of the regions and segments expected to dominate the market growth
- Extensive competitive landscape mapping with profiles of the key competitors
- In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
- Revenue forecast, country scope, application insights, and product insights
Thank you for reading our report. Customization of the report is available. To know more, please connect with us, and our team will ensure the report is customized as per your requirements.
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