DUBLIN--(BUSINESS WIRE)--The "Smart Grid Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The smart grid market is estimated to attain a market size of US$92.107 billion in 2026 from US$29.336 billion in 2019, growing at a CAGR of 17.76%.
The smart grid is an electricity supply network that uses digital communications technology to detect, react to local changes in usage and enable the self-healing of the network automatically after the disturbance of the power. Smart grid provides efficient and reliable power supply through various smart grid applications and technologies, thus offering the opportunity for the economy and the environment.
Due to the increase in the deployment of smart grid technologies across the globe, the advanced metering infrastructure is expected to witness significant growth during the forecasted period. The governments of both underdeveloped and emerging countries are recognizing the smart grid technology as the strategic infrastructural investment which will aid in their long-term economic prosperity and thus will help them achieve the carbon emission targets. These factors are expected to boost the market growth and provide opportunities to the smart grid companies in the forecasted period.
The smart grid market is expected to expand due to the increased investment in the market, deployment of the technologies such as smart meters, EV chargers, and other infrastructure technologies which are expected to boost the market growth of the smart grid market during the forecasted period. However, due to the low accessibility to electricity especially in the underdeveloped nations and the poor regulations and initiatives to modernize and expand the grid infrastructure by the government is limiting the growth of the smart grids market.
COVID-19 Impact:
The outbreak of the COVID-19 pandemic has impacted every industry including Smart Grid Market. The lockdown across the globe in 2020 and continued restrictions in 2021 has disrupted the production activities across the globe, this is mainly due to the disrupted supply of the components and equipment by the suppliers of the Asian countries. However, the demand for smart systems is expected to rise to manage the grid operations to reduce the interventions by the consumers.
Companies Mentioned
- Schneider Electric SE
- Duke Energy Corporation
- General Electric Company
- ABB Limited
- Siemens AG
- IBM Corporation
- Hitachi, Ltd.
- Landis+Gyr
- S&C Electric Company
- Networked Energy Services
Key Topics Covered:
1. Introduction
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Smart Grid Market Analysis, By Component
5.1. Introduction
5.2. Software
5.2.1. Advanced Metering Infrastructure
5.2.2. Smart Grid Distribution Management
5.2.3. Smart Grid Network Management
5.2.4. Grid Asset Management
5.2.5. Substation Automation
5.2.6. Smart Grid Security
5.2.7. Others
5.3. Hardware
5.3.1. Sensors
5.3.2. Programmable Logic Controller
5.3.3. Smart Meter
5.3.4. Networking Hardware
5.4. Service
5.4.1. Consulting
5.4.2. Deployment and Integration
5.4.3. Support and Maintenance
6. Smart Grid Market Analysis, by Geography
6.1. Introduction
6.2. North America
6.2.1. North America Smart Grid Market Analysis, By Component
6.2.2. By Country
6.2.2.1. United States
6.2.2.2. Canada
6.2.2.3. Mexico
6.3. South America
6.3.1. South America Smart Grid Market Analysis, By Component
6.3.2. By Country
6.3.2.1. Brazil
6.3.2.2. Argentina
6.3.2.3. Others
6.4. Europe
6.4.1. Europe Smart Grid Market Analysis, By Component
6.4.2. By Country
6.4.2.1. Germany
6.4.2.2. Spain
6.4.2.3. United Kingdom
6.4.2.4. France
6.4.2.5. Others
6.5. Middle East and Africa
6.5.1. Middle East and Africa Smart Grid Market Analysis, By Component
6.5.2. By Country
6.5.2.1. Saudi Arabia
6.5.2.2. South Africa
6.5.2.3. Others
6.6. Asia Pacific
6.6.1. Asia Pacific Smart Grid Market Analysis, By Component
6.6.2. By Country
6.6.2.1. China
6.6.2.2. Japan
6.6.2.3. Australia
6.6.2.4. India
6.6.2.5. Others
7. Competitive Environment and Analysis
7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrativeness
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix
8. Company Profiles
8.1. Schneider Electric SE
8.2. Duke Energy Corporation
8.3. General Electric Company
8.4. ABB Limited
8.5. Siemens AG
8.6. IBM Corporation
8.7. Hitachi, Ltd.
8.8. Landis+Gyr
8.9. S&C Electric Company
8.10. Networked Energy Services
For more information about this report visit https://www.researchandmarkets.com/r/h6o3wl
