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Chicago, IL -- (SBWIRE) -- 09/19/2016 -- According to the report, "Global Smart Grid Market By Solution (Distribution Management System (DMS), Meter Data Management System (MDMS), Demand Response Management (DRM), and Supervisory Control and Data Acquisition (SCADA)), By Service (Implementation, Consulting, Repair and Maintenance), By Sensor (Transformer Monitoring Sensor, Voltage Sensor, Dynamic Line Rating Sensor and Home Area Network Sensor), By End-User (Industrial Sector, Commercial Sector, Energy and Utility, Residential Sector) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, Latin America) Report Forecast - 2014 to 2022", the market for smart grid is expected to witness exponential growth during the forecast period.
The global smart grid market report provides details about the market segmentation, market share, drivers and restraints, and the major geographic segments to provide details of the revenue forecasts.
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According to the smart grid market report, the global market is expected to witness exponential growth over the forecast period. The researchers suggest that emergence of advanced technologies is one of the primary driving factors for the market. Strong emphasis on energy efficiency and conservation are also expected to create strong growth opportunities for this market. According to the report, the lowered costs of networking technologies and devices are also expected to drive the demand patterns in this market. Favorable government policies are also expected to be a major driving factor for the key players in this market. However, high deployment costs and limited scope of product differentiation are some of the major restraining factors for the market.
The report segments this global market by the types of services, sensors, solutions, end-users, and geographic regions. The basic service segments in the market include repair and maintenance, consulting, and implementation. The major solution segments in the market include meter data management system (MDMS), distribution management system (DMS), supervisory control and data acquisition (SCADA), and demand response management (DRM). The types of sensors are further sub-segmented into home area network sensor, transformer monitoring sensor, dynamic line rating sensor, and voltage sensor. The major geographic segments of the market include North America, Asia-Pacific, Latin America, Europe, and Middle East and Africa.
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The key market players enlisted in this report include Aclara Technologies, LLC., Alstom Ltd., Comverge, Inc., eMeter, GridPoint, Landis+Gyr, Itron, Inc., Schneider Electric SE, Schweitzer Engineering Laboratories, Inc., Sensus USA, Inc., Siemens AG, Silver Spring Networks, and such others. The smart grid market share analysis suggests that North America is expected to hold the largest share in this market. Emerging markets, on the other hand, are expected to witness ample business opportunities during the forecast period.
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