A smart grid is an electrical grid which consist variety of operation and energy measures including smart meters, smart appliances, renewable energy resources, and energy efficient resources. Electronic power conditioning and control of the production and distribution of electricity are important aspects of the smart grid. Electric power generators, electric power substations, transmission and distribution lines, controllers, smart meters, collector nodes, and distribution and transmission control centers are the various components of the smart grid. Smart grid uses computer technology to improve the communication, automation, and connectivity of the various components of the power network. Also, smart grid can help to utilities conserve energy, reduce costs, increase reliability and transparency, and make processes more efficient. The increasing use of IT-based electric power systems, however, increases cyber security vulnerabilities, which increases cyber security's importance. Along with this smart grid allows for systematic communication between suppliers and consumers, and permits both to be more flexible and sophisticated in their operational strategies.
Smart Grid Market: Key Players
The research study includes profiles of leading companies operating in the global Smart Grid market. Key players profiled in the report include: ABB, General Electric, Siemens AG, Schneider Electric SE, Hubbell Incorporated, Fujitsu General, Honeywell Elster, Itron, Landis+Gyr, Belden, Cisco, IBM, Oracle, Wipro Limited, and others.
Drivers for the Global Smart Grid Market:
Modernization of aging grid infrastructure and increasing awareness about carbon footprint management and Government of many countries offers various policies and legislative mandates for focusing on the implementation of smart grids and spreading awareness about energy conversation are some important factors which works as a driving factors for the global smart grid market growth.
Opportunities for the Global Smart Grid Market:
Increasing investment in modern and advanced infrastructure in various sectors, and continuous generation of data from the various nodes of the network has raised huge concerns for the solution providers about data storage and management creates the huge market opportunity for the global smart grid in forecast period.
Restrains for the Global Smart Grid Market:
Initial phase of smart grid deployment is expensive these initial cost for the deployment is high. It is one of the restrain factors for the growth of global smart grid market. Similarly, there is huge competition at market place for smart grid which is another important restraint for the global smart grid market.
Region Wise, Global Smart Grid Market Analysis:
Report covers the region wise analysis, global Smart Grid can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all, North America leads the global Smart Grid share due to this region has been extremely responsive toward adopting the latest technological advancements, such as AMI, smart grid distribution management, smart grid communication, and substation automation. Also, this region is ready to invest more amounts in smart grid communication, and substation automation. North America region is followed by Asia Pacific and Europe.
Global Smart Grid Market: Technology analysis
- Smart T&D Equipment
- Distribution & Network Automation
- AMI
- Billing & CIS
Global Smart Grid Market: Service analysis
- Consulting
- Integration
- Support & Maintenance
Global Smart Grid Market: Region analysis
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- France
- Germany
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- ASEAN
- India
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Colombia
- Rest of L.A.
- Middle East and Africa
- Turkey
- GCC
- UAE
- South Africa
- Rest of Middle East
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