Recently published research from Markets and Markets, "Smart Grid Technology Market - Analysis and Global Forecast by Hardware, Software & Communication Network Technologies (2011 - 2016)", is now available at Fast Market Research

Williamstown, MA -- (SBWire) -- 02/17/2012 --Smart grid intends to modernize the power grid by using the latest technology that supports the utility to reduce the transmission and distribution loss. This can be achieved with the help of advanced metering infrastructure, software's such as SCADA, DRM, DMS, MDMS, etc., and communication networks such as Wi-Fi, ZigBee, Z-Wave, etc.

Smart grid will balance the electricity supply and demand. It will improve the grid reliability by monitoring the frequency and duration of power outages and the number of disturbances, including reduction of the possibility of regional blackouts. Smart grid will improve the efficiency and dependability in energy distribution and assist in optimizing utilization of resources.

View Full Report Details and Table of Contents

Reduction in transmission and distribution loss, coupled with an increase in energy efficiency, is one of the major drivers of the smart grid market. The governments of various countries are playing important roles in the commercialization of the smart grid market and passing on mandates and regulations for the same. The high cost of installation of the entire smart grid network is one of the restraints of the smart grid market. Another major restraint is the lack of interoperability of standards. There are huge amounts of investments happening in the smart grid market, which are an opportunity for the growth of the market. Prepaid electricity is also en-route, wherein the users will prepay for the electricity that will be consumed by them.

Lack of interoperability standards exists at all the levels in a system. There are numerous service providers across the globe with different standards of operating and meeting a common consensus is very important for the growth of any industry. This is lacking in the smart grid market as every country has its own rules and mandates. This leads to a slower adoption of technology and increases risks for the industry as a whole.

The current trend prevailing in the smart grid technology market is the upgradation of old technology as well as adopting a new technology, which will lead to a more efficient usage of electricity. The increase in investment from the governments as well as the utilities' point of view is expected to reach a billion mark in the next five years.

The global smart grid market is expected to reach $80.6 billion in 2016 from $22.8 billion in 2011 at a CAGR of 28.7% from 2011 to 2016. Some of the players in the smart grid market include Landys+Gyr (U.S.), Itron (U.S.), Cisco (U.S.), eMeter (U.S.), and Telvent (U.S.).

Scope of the report

This research report categorizes the global smart grid technology market and its related applications market on the basis of different kinds of software's that are being used for the smart grid network, smart meter, various smart sensor, communication network and geographical analysis; forecasting revenue, and analyzing trends in the market.

About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Energy research reports at Fast Market Research

You may also be interested in these related reports:

- Smart Grid Readiness in Power Utilities - Technology Installation Trends and Outlook to 2016
- Smart Grid Vendor Landscape Analysis - Strategic Activity Analysis and Outlook to 2015
- Smart Grid Market and Technology Outlook - Industry Trends and Competitive Analysis
- Information and Communications Technologies in Smart Grid - Global Market Sizing and Forecasts to 2015
- Smart Grid Market in Europe to 2020 - Advanced Grid Concepts and Intelligent Technology Pivotal to Achieving EU 20-20-20 Targets
- General Electric Company (GE) - Clean Technology - Deals and Alliances Profile
- International Business Machines Corporation (IBM) - Clean Technology - Deals and Alliances Profile
- Global Smart Meter Market by Shipments, Types, Geography, Applications, Regulations Market Trends & Forecasts: (2011-2016)
- Asia-Pacific Smart Grids Market to 2020 - Government Initiatives and Longer-Term Strategic Focus of Utilities Will Determine Future Uptake
- General Electric Company (GE) - Alternative Energy - Deals and Alliances Profile