The growth of the global smart grid market is mainly driven by the increased global demand for power supplemented by higher transmission and distribution losses. Increased policy and regulatory support by governments are likely to play a key role in the rise in demand for smart grid market over the forecast period.
Albany, NY -- (SBWIRE) -- 11/06/2015 -- Market Research Reports Search Engine (MRRSE) has recently announced the addition a new research report on the global smart grid market estimating the market to expand at a CAGR of 18.20% during the period from 2013 to 2019 and gain a market value of US$118.1 billion by the end of the forecast period.
This market study, titled "Smart Grid Market (Advanced Metering Infrastructure, Distribution Automation, Software and Hardware, Communication Technologies, Transmission Upgrades, Cyber Security) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019", is published by Transparency Market Research (TMR), a leading market intelligence and research firm.
Browse Full Global Smart Grid Market Report with TOC:http://www.mrrse.com/smart-grid-market
The rising demand for power, coupled with distribution losses in the Asia Pacific region, has fueled the global smart grid market to a significant level. The need for enhanced quality of power supply with appropriate measures to ensure security is also adding enormously to the growth prospects of the market. In addition to this, the favorable regulations and policies regarding power supply in North America and Asia Pacific are anticipated to propel the smart grid market in the global arena, states the market report.
On the basis of technology, the research report segments the global market for smart grids into the markets for advanced metering infrastructure, hardware and software, distribution automation, transmission upgrades, communication technologies, and cyber security.
The market for transmission upgrades led the worldwide smart grid technology market in 2012, whereas the markets for advanced metering infrastructure and distribution automation technologies occupied the second and the third position, respectively.
Research analysts expect the transmission upgrades market to register the highest growth in the global smart grid market, maintaining its dominance over the forecast period. The market for distribution automation is also expected to post significant development during the forecast period, notes the research study.
According to the market report, the global smart grid market is distributed among the regional markets in North America, Europe, Asia Pacific, and the Rest of the World. In 2012, Asia Pacific dominated the global market with a share of more than 45% in the overall market. The regional market is likely to maintain its dominance over the forecast period.
The global smart grid market is highly fragmented in nature, states the research report. The major market participants mentioned in this market study are eMeter, Comverge, Landis+Gyr, Silver Spring Networks, Sensus, Itron, Schweitzer Engineering Lab Inc., Siemens, GridPoint Inc., Alstom, Aclara, and Schneider Electric.
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