Smart Grid Market Growth
MarketStudyReport.com offers 2018 report on global Smart Grid market that evaluates industry growth trends through historical data and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2018-2024.
Smart grid Market is predicted to reach over USD 70 billion by 2024. Favorable government initiatives toward grid advancement will drive the industry growth. The regulatory authorities across the nations have imposed stringent regulations and mandates as part of their initiatives to combine the grid installation and research & development activities. The global funding for digital electricity infrastructure in 2016, was valued over to USD 45 billion to improve the reliability, security and resiliency of the grid. In addition, the growing government focus toward grid refurbishment to reduce overutilization, load mismatch and integration challenges will further augment the smart grid market.
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The U.S. smart grid market in 2017, was valued over USD 3 billion. Implementation of various grid automation plans to strengthen the distributed intelligence and communication flexibility of national electrical infrastructure will positively impact the industry growth. Growing demand for energy conservation on account of recurring blackouts will stimulate the business outlook. In 2017, The Public Service Electric & Gas Company invested an amount of USD 69 million to enhance the consumer energy efficiency by data analytics and smart thermostat programs.
UK smart grid market is set to witness strong growth owing to favorable regulatory norms toward environmental sustainability and energy conservation. The legislative directive and mandate rollout across the nation toward smart meters will augment the business landscape. As part of the smart grid plan, the Energy Networks Association has aimed to execute a local energy market, enabling the households and businesses to trade power thereby contributing to conservation of energy.
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China smart grid market is anticipated to grow over 11% by 2024. Regulatory measures toward increasing sustainable energy mix along with the development of green infrastructure will foster the industry growth. For instance, the government of China has planned to increase the share of renewable energy over 20% by 2030 in the existing generation mix.
Ongoing investments toward digitalization of grid by implementing advanced communication technology will stimulate the smart grid market. Increasing focus toward the integration of renewable grid along with the necessity for upgrading ageing electrical infrastructure will facilitate the installation of smart grids.
Eminent players in smart grid market include ABB, Hubbell, Schneider Electric, Fujitsu General, Belden, General Electric, Honeywell Elster, Landis+Gyr, Oracle Itron, Siemens, Cisco, Wipro and IBM.
Table of Contents
Chapter 3. Smart Grid Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024 (USD Million)
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.4. Regulatory landscape
3.5. Innovation and sustainability
3.5.2. Schneider Electric SE
3.5.3. Fujitsu General
3.6. Global investment trend analysis
3.7. Key existing and upcoming projects
3.8. Smart Grid Developed Vs Upcoming Markets
3.9. Transmission and distribution loss trends
3.10. Customer requirements
3.11. Customer group requirements
3.11.2. Government institutions
3.12. Entry barrier
3.13. Industry impact forces
3.13.1. Growth drivers
220.127.116.11. .Increasing need to digitalize the power sector
18.104.22.168. Favorable government regulations and mandates
22.214.171.124. Growing share of renewable energy in the energy mix
126.96.36.199. Reliable and efficient energy consumption
3.13.2. Industry pitfalls & challenges
188.8.131.52. Rising cyber attacks
3.14. Growth potential analysis
3.15. Porter’s analysis
3.16. Competitive landscape, 2017
3.16.1. Strategy dashboard
184.108.40.206.1. Product Development
220.127.116.11.3. Long Term Contract
18.104.22.168.2. Long-term contracts
22.214.171.124.3. New Product Launch
126.96.36.199.2. New Product Launch
188.8.131.52. Siemens AG
184.108.40.206.2. Long-term contracts
3.17. Company market share,2017
3.18. PESTEL analysis
Chapter 4. Smart Grid Market, By Technology
4.1. Smart grid market share by technology, 2017 & 2024
4.2. Smart T&D equipment
4.2.1. Global market from technology, 2013 – 2024
4.2.2. Global market from technology, by region, 2013 – 2024
4.3. Distribution & network automation
4.3.1. Global market from distribution & network automation, 2013 – 2024
4.3.2. Global market from distribution & network automation, by region,2013 – 2024
4.4. Advanced Metering Infrastructure
4.4.1. Global market from advanced metering infrastructure, 2013 – 2024
4.4.2. Global market from advanced metering infrastructure, by region,2013 – 2024
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