Smart Grid Market Report 2024 by Delvens offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The global smart grid market is expected to grow from an estimated USD 43.1 billion in 2021, at a CAGR of 20.1% during the forecast period.
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The smart grid provides technologies that improve fault detection and enables self-healing of the network automatically after the power disturbances. The smart grid thus provides the extraordinary opportunity for the economy as well as the environment by providing reliable and efficient power supply through various smart grid applications and technologies.
Rise in concerns pertaining to environment protection and growth in adoption of smart grid technology to improve efficiency in energy conservation and consumption are some of the factors that have supported long-term expansion for Smart Grid Market.
Recent Developments
In May 2021, Thailand-based energy company Impact Solar partnered with Hitachi ABB Power Grids for provisioning an energy storage system for the country’s largest private-owned microgrid.
In January 2021, Schneider Electric acquired DC Systems BV, which is a major supplier of smart systems. This has helped the company in advancing innovations in electrical distribution.
Key Players
· Cisco Systems, Inc.
· General Electric
· Honeywell International Inc
· International Business Machines Corporation (IBM)
· Itron Inc.
· Oracle
· Schneider Electric
· Siemens
· Tech Mahindra Limited
· Wipro Limited
· Trilliant Holdings
· Globema
· Kamstrup
· Xylem
· Enel X
· Esmart Systems
· Esyasoft Technologies
· Grid4c and More
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Smart Grid Market is segmented into component, application, communication technology and region.
On the basis of Component
· Software
· Hardware
· Services
On the basis of Application
· Generation
· Transmission
· Distribution
· Consumption
On the basis of Communication Technology
· Wireline
· Wireless
On the basis of Region
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
Key Features of Global Market Report:
· Analyze competitive developments like expansions, deployments, new product launches, and acquisitions.
· Identify growth opportunities for stakeholders by pinpointing high-growth segments.
· Study global industries status and forecast, focusing on key regions.
· Conduct an in-depth analysis of product segments and applications, offering strategic recommendations for competitive advantage.
· Provide a comprehensive analysis of key regions, including SWOT and Porter's Five Forces analyses.
· Assist in making strategic business decisions and investment plans.
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In addition to the market data for Smart Grid Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement.
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