Global Smart Grid Market To Reach Around USD 120.0 Billion by 2020
Deerfield Beach, FL -- (SBWIRE) -- 10/05/2017 -- According to the report, global smart grid market was valued at approximately USD 40.0 billion in 2014 and is expected to reach around USD 120.0 billion in 2020, growing at a CAGR of slightly above 18% between 2015 and 2020. Zion Market Research has published a new report titled "Smart Grid (Advanced Metering Infrastructure, Distribution Automation, Software & Hardware, Communication Technologies, Transmission Upgrades and Cyber Security) Market: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014-2020."
The report covers forecast and analysis for the smart grid market on a global and regional level. The study provides historic data of 2014 along with a forecast from 2015 to 2020 based on revenue (USD billion). The study includes drivers and restraints for the smart grid market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the smart grid market on a global level.
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The smart grid is an innovative power distribution technology that facilitates secure, efficient and effective control of the production and distribution of electricity. Electronic control, metering, and monitoring are major aspects of smart grid. A smart grid includes several instruments and appliances that work together to scrutinize the flow of current. Smart grid effectively measures and balance the demand and supply of electricity at the connected device across the remote areas. A smart grid is a very beneficial system for electricity distribution that collects, stores and processes huge data.
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In order to give the users of this report a comprehensive view on the smart grid, we have included a detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter's Five Forces model for the smart grid market has also been included. The study encompasses a market attractiveness analysis, wherein technology segments are benchmarked based on their market size, growth rate, and general attractiveness.
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Smart grid market was dominated by Asia Pacific with around 30% share of the total revenue generated in 2014. Strong demand from emerging economies such as China and India is a major driving force for the growth of smart grid market in the region owing to rapid industrialization. North America was the second largest market for smart grid in 2014. Europe, Latin America, and Middle East & Africa are other important regional markets for smart grid industry, which are further expected to exhibit significant growth in the years to come.
Some of the key players in global smart grid market include Aclara, Alstom, Comverge, eMeter, GridPoint, Inc., Landis+Gyr, Schneider Electric, Schweitzer Engineering Laboratories, Inc. (SEL), Sensus, and Siemens.