Smart Grid Market-Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013-2019
Albany, NY -- (SBWIRE) -- 06/08/2015 -- Transparency Market Research (TMR) has recently published a market study based on the global smart grid market that projects the market to attain a value of US$118.1 billion by 2019, expanding at a high double-digit CAGR of 18.2% between 2013 and 2019.According to the research report, titled "Smart Grid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019", the most notable recent trend in the global smart grid market is the uptake of advanced technologies as well as the modernization of the older ones. Also on the horizon is the upcoming trend of pre-payment of electricity.The decrement in transmission and loss in distribution has fueled the demand for power supply in Asia Pacific, resulting in significant growth of the global smart grid market, notes the study. Additionally, the rules and regulations pertaining to electricity in Asia Pacific and North America are expected to stimulate the development in the smart grid industry in the global arena. However, the high cost associated with the deployment of smart grid coupled with the dearth of interoperability standards is hampering the growth of the global smart grid market to a great extent.
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Based on the technology employed in the global market for smart grids, the report classifies the industry into the markets for hardware and software, advanced metering infrastructure, distribution automation, communication technologies, transmission upgrades, and cyber security. In 2012, the market for transmission upgrades accounted for the largest portion in the global smart grid market based on technology. The advanced metering infrastructure market and the distribution automation technologies market stood at the second and third position in the smart grid industry across the globe, respectively.Research analysts at TMR expect the market for transmission upgrades to lead the global smart grid market and the market for distribution automation to hold a significant share of the overall market during the forecast period.
The research study distributes the global smart grid market into the regional markets in North America, Europe, Asia Pacific, and the Rest of the World. In 2012, the smart grid market in Asia Pacific accounted for more than 45% of the overall industry positioning it as the market leader. The regional market is anticipated to capture additional share during the forecast period, but without disturbing the ranking of other regional smart grid market.The report determines the global smart grid industry as a fragmented market. The major participants of this market profiled in this report are Schneider Electric, Aclara, Alstom, GridPoint Inc., Siemens, Schweitzer Engineering Lab Inc. (SEL), Itron, Sensus, Silver Spring Networks, Landis+Gyr, Comverge, and eMeter.
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Hitherto, these players operated only in their respective regional smart grid markets; but, they are extremely focused on expanding their businesses in the global arena. Multiple mergers and acquisition are on the horizon, which in turn, are expected to consolidate the global smart grid market over the forecast period, states the report.
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