Pune, India -- (SBWire) -- 09/07/2018 --Summary:
Latest Research Report on Global Smart Grid Technology Market Added by Garner Insights which covers Market Overview, Future Economic Impact, Competition by Manufacturers, Supply (Production), & Consumption Analysis
The Smart Grid Technology Market research study relies upon a combination of primary as well as secondary research. Smart Grid is the distributed grid technology which enhances the performance by analysing the dynamic energy requirements from the customer. This is primarily achieved by adopting the bi-directional commination technology between the end-user and the central server. The adoption of sensing and measurement technologies for the analysis of the energy requirements leads to achieve operational efficiency thus saving the energy.
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Immense investment by the private corporations and public sectors has resulted as a major factor in driving the market growth. The technological advancements in power transmission technology has resulted in lowering the loss of energy, thus integration of such technology with smart grid would uplift the market growth. However the complexities involved in upgrading the system may result in hampering the market growth.
Key players
Some of the major players profiled in this report include General Electric Company , ABB Ltd. , Siemens AG , Schneider Electric Sa , Itron, Inc. , Landis+GYR , Aclara Technologies LLC ,Cisco Systems, Inc. , Open Systems International, Inc. , International Business Machines Corporation , Wipro Limited , Oracle Corporation.
Market Scenario:
Smart grid market is bifurcated on the basis of software, hardware and services. On the basis of the software technology used the market is segmented as: Advanced metering infrastructure, smart grid communication, smart grid distribution and management, billing information system and substation automation. Advanced metering infrastructure includes analytics of meter data, distribution and management includes: energy management system, demand response and outage management. Smart grid communication includes: network traffic management, security solutions and device management. Based on the hardware components used the market is divided into: sensors, networking hardware, programmable logic counter, AMI meter and others. Based on the service offered the market is segmented into: consulting, deployment and integration and maintenance.
Smart Grid Technology Market Segmentation:
By Software:
Advanced Metring Infrastructure
Smart Grid Communication
Energy distribution and Management
Automation of Substation and Billing Information
By Hardware:
Sensors
Networking Hardware
Programmable Logic Counter
AMI meters
Others
By Services:
Assessment and Consulting
Integration and Deployment
Maintenance
Regional analysis
North America is expected to dominate the smart grid market owing to the adoption of latest technology such as AMI, smart grid distribution and communication. Rising demand for secure and reliable power supply forms the major factor in raising the market of Asia-Pacific. Rapid industrialization and urbanization in the China, Japan and India is also leading to the growth.
The main points which are answered and covered in this Report are-
What will be the total Smart Grid Technologymarket size in the coming years till 2021?
What will be the key factors which will be overall affecting the industry?
What are the various challenges addressed?
Which are the major companies included?
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Thanks for reading this article; you can also get individual chapter wise section or region wise report version like Asia, United States, Europe
Smart Grid Technology Market Analysis and Forecast to 2023 by Recent Trends, Developments in Manufacturing Technology and Regional Growth Overview