Smart Grid Market 2019, Business Opportunities, Leading Players, Trends Outlook Up to 2024


Posted April 8, 2020 by ivosmith98

According to IMARC Group’s recently published report, the global smart grid market is expected to grow at a CAGR of around 16% during 2019-2024.
 
A smart grid refers to an electricity network that is utilized for supplying electricity through a two-way digital communication system. It is secure, flexible, accessible, reliable, resilient, sustainable, economical and aids in enhancing grid operations, owing to which it is preferred over conventional electrical systems around the world.

Global Smart Grid Market Trends

Due to rapid urbanization, growing population and the boosting overall sales of consumer electronics, there is a rise in the demand for energy across the globe. This represents one of the key factors propelling the global smart grid market growth. Moreover, these grids add resilience to the electric power system and are used as a backup during emergencies, such as earthquakes and storms. This, in turn, is catalyzing the demand for smart grids worldwide. Besides this, governments of several countries are investing in the development of smart cities and the upgradation of existing grid infrastructure, which is anticipated to create a positive outlook for the market.

View Report TOC, Figures and Tables: https://www.imarcgroup.com/smart-grid-market

Market Segmentation

Market Breakup by Component

Software

Advanced Metering Infrastructure
Smart Grid Distribution Management
Smart Grid Network Management
Substation Automation
Others

Hardware

Sensor
Programmable Logic Controller
AMI Metre
Networking Hardware
Others

Services

Sensor
Programmable Logic Controller
AMI Metre

Market Breakup by End-User

Residential
Commercial
Industrial

Market Breakup by Region

Asia Pacific
Europe
North America
Middle East and Africa
Latin America

Do You Have Any Query or Specific Requirement? Ask to Our Industry Expert https://www.imarcgroup.com/request?type=report&id=1595&flag=C

Some of the major players operating in the industry include Cisco Systems, Inc. (NASDAQ: CSCO), IBM Common Stock (NYSE: IBM), Siemens AG (OTCMKTS: SIEGY), SCHNEIDER ELEC /ADR (OTCMKTS: SBGSY), Wipro Limited (NYSE: WIT), General Electric Company (NYSE: GE), Honeywell, Oracle Corporation, ABB, Itron, Fujitsu, Eaton, Tantalus, eSmart Systems, etc.

Browse related reports:

https://www.marketwatch.com/press-release/telecom-power-systems-market-2019-worldwide-overview-by-industry-size-market-share-future-trends-growth-factors-and-leading-players-research-report-analysis-2019-10-23

https://www.marketwatch.com/press-release/led-lighting-market-research-report-and-forecast-2019-2024-2020-01-31

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Issued By Ivo Smith
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Business Address 30 N Gould St, Ste R
Sheridan, WY 82801, USA
Country United States
Categories Business , Technology
Tags industry analysis , market research , smart grid
Last Updated April 8, 2020