Growing distresses related to environment safety is also boosting the demand for smart grid solutions
AdroitMarketResearch.com has launched the research study on " Smart Grid Market 2018 to 2025". The report provides the in depth analysis on current market situation, Trends, size, share, growth drivers, leading players, and global as well as regional overview.
The global smart grid market size is projected to reach USD 94.7 billion by 2025. The smart grid technology involves various energy measures and operations such as renewable energy resources, smart meters, energy-efficient resources, and smart appliances. In addition, the smart grid also leverages the hardware systems such as surveillance cameras, sensors, and others to keep track of energy consumption and monitor the systems. With the help of sensors, smart grids can turn on and off the electricity while the systems are not in use, which in turn will decrease the energy consumption.
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Access the full report @ https://www.adroitmarketresearch.com/industry-reports/smart-grid-technology-market
The current and future smart grid market trends are driving the overall attractiveness of the market. Top impacting factors highlight the smart grid market opportunities during the forecast period. Factors such as growing distress related to environment safety are the major factor driving the market growth for smart grid systems. In addition, increasing supportive government regulations & policies to implement smart meters is among the key factors boosting the demand for smart grid solutions and services. However, privacy & security concerns related to smart grid systems is the major factor hindering the smart grid market growth. It is expected that increasing smart city projects and government initiatives will provide major growth opportunities for the market in the upcoming years.
The report also throws light on various aspects of the global smart grid industry by assessing the market using value chain analysis. The report covers several qualitative aspects of the smart grid industry in market drivers, market restraints and key industry trends. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local vendors.
Segment Overview of Global Smart Grid Market
Application Overview, 2018-2025 (USD Billion)
Generation
Transmission
Distribution
Consumption
Solution Overview, 2018-2025 (USD Billion)
??Advanced Metering Infrastructure
Smart Grid Distribution Management
Smart Grid Communications
Smart Grid Network Management
Substation Automation
Smart Grid Security
Others
End-User, 2018-2025 (USD Billion)
Residential
Commercial
Industrial
Regional Overview, 2018-2025 (USD Billion)
North America
U.S.
Canada
Europe
Germany
UK
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia-Pacific
Middle East and Africa
UAE
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
The major players of the global smart grid market are ABB, Cisco, General Electric, Honeywell, Eaton, Itron, Oracle, Schneider Electric, Siemens, Wipro. Moreover, the other potential players in the smart grid market are, Aclara, Landis+Gyr, Eaton, S&C Electric Company, Tech Mahindra. As of 2019, the market for the smart grid is consolidated with the presence of established global and domestic players across the globe. Moreover, the established companies are coming up with new strategies and innovative Smart grid solutions. For instance, in July 2018, ABB collaborated with the Indian Institute of Technology Roorkee (IITR) to build and provide a smart power distribution network on its campus.
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market's size, key trends, participants and future outlook of an industry. We intend to become our clients' knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code- Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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