Are the Dynamics in Global Smart Grid Market Going to Change Drastically Due to COVID-19?
The Infinium Global Research analyzes the Smart Grid Market over the period of 2018 to 2024. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global smart grid market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of smart grid. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the smart grid market during the period. The global smart grid market is projected to grow at a CAGR of 17.5% over the forecast period of 2018-2024.
“We are Now Including the Impact Analysis of the COVID-19 on this Premium Report and the Forecast Period of this Report shall be Revised to 2020-2026.”
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According to IGR research analysts the key factor driving the growth of the market is the smart grid technology that allows customer-owned power generators to produce power when it is not available from utilities. Power systems are already coping with spikes, surges, and even blackouts. New technologies are emerging to manage demand, reduce waste, and harness new energy sources and producers. The distributed generation facility provided by the smart grid technology helps hospitals, traffic light, police department, and many other systems to operate during emergency situations.
Government Initiatives for Smart Meter Rollouts Contributing to the Growth of the Smart Grid Market
The report gives an in-depth analysis of the global smart grid market, focuses on market opportunities along with the trends driving the market. The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth. It provides the market segmentation by technology (advanced metering infrastructure, software and hardware, communication technologies, distribution automation, transmission upgrades and cybersecurity) and by geography.
The distribution power generation facility of the smart grid is expected to boost the growth of the smart grid market. The factors such as favorable government policies, growing Government initiatives for Smart Meter Rollouts and rising demand for integration of renewable energy are contributing to the growth of the smart grid market.
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APAC Region is Projected to Experience Growth During the Forecast Period
The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2019-2025. Many cities in the Asia Pacific region are currently facing challenges such as dense urban population, increasing resource demands and energy capacity constraints. Grid modernization and public-private partnerships are revolutionizing the concept of smart cities in this region. In Japan utilities like TEPCO which serves one-third of Japan’s population is working toward building smart city in Tokyo with an end-to-end energy management platform that is able to lay the groundwork for greater connectivity with consumers and critical city infrastructure. The U.S. drives the growth in the North America region as it is the largest market in the region
Major Market Players in the Industry
The list of key players featured in the report are Siemens, Schneider Electric, Sensus, Silver Spring Networks, Aclara, Alstom, Landis+Gyr and Itron.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global smart grid market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of smart grid market.
Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the smart grid market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the smart grid market to understand the present and future trends in this market and formulate their strategies accordingly.
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the smart grid.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.