The aging power distribution infrastructure and the increasing investments in the technological advancements of the smart grid systems are driving the demand of the market.
The global Smart Grid Market will be worth USD 122.97 Billion by 2027, according to a current analysis by Emergen Research. 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.
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Key Highlights From The Report
- The Deployment and Integration segment is forecasted to grow with the fastest CAGR of 20.6% over the forecast period due to the increasing requirement in the technological advancements of the traditional power systems.
- The Commercial segment accounted for the largest market share in 2019 due to the increasing adoption of the advanced metering infrastructure by the commercial segment.
- North America dominated the smart grid market in 2019 due to the increasing investment in the technological advancements of the smart grid system.
- The Asia Pacific region is expected to be the fastest-growing region over the forecast period due to the rising need for clean energy sources.
- 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
- Services Outlook (Revenue, USD Billion; 2017-2027)
- Deployment and Integration
- Support and maintenance
- End User Outlook (Revenue, USD Billion; 2017-2027)
The authors of the global Smart Grid market report have taken into consideration the market mechanism of both the developing and developed regions. The regional analysis section of the report provides significant data and information about the different market regions, along with a country-wise analysis of the Smart Grid industry, intending to enable readers to formulate effective business expansion strategies. Furthermore, the report also assesses the global Smart Grid market in terms of market reach and consumer base in the key geographical regions of the world.
Major Geographies Analyzed in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Smart Grid Market Segmentation & Impact Analysis
4.1. Smart Grid Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
18.104.22.168. Aging power distribution Infrastructures
22.214.171.124. Lower energy prices
126.96.36.199. Increasing investments in the technological developments of the smart grid infrastructure
188.8.131.52. Supportive government regulations and policies
184.108.40.206. Growing awareness regarding increasing carbon dioxide emission levels
4.2.3. Market restraints analysis
220.127.116.11. Low accessibility to electricity in the developing nations
18.104.22.168. High Installation costs of the Smart grid technology
22.214.171.124. Lack of data security and privacy policies
126.96.36.199. Present challenging economic conditions due to the pandemic
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Smart Grid Market By Technology Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
5.1. Technology Dynamics & Market Share, 2019 & 2027
5.1.1. Smart Grid Distribution Management
5.1.2. Advanced Metering Infrastructure
5.1.3. Smart Grid Network Management
5.1.4. Smart Grid Security
Chapter 6. Smart Grid Market By Services Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
6.1. Services Dynamics & Market Share, 2019 & 2027
6.1.1. Deployment and Integration
6.1.3. Support and maintenance
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