A smart grid is an electricity network that is used to supply electricity to the consumer via two-way digital communication. This system allows monitoring, analysis, control, and communication within the supply chain. In addition, it helps in improving the efficiency and energy consumption along with maximizing the transparency and reliability of the energy supply chain. Moreover, smart grid is an extended form of analog technology, which controls the use of appliances by employing two-way communication. Furthermore, it not only makes the transmission and distribution efficient but also helps in reducing management and operations costs for the utilities and end users.
Rise in concerns pertaining to environment protection and growth in adoption of smart grid technology to improve efficiency in energy conservation and consumption are the major factors that fuel the growth of the smart grid market. In addition, supportive government policies & regulations to use smart meters and rise in investments in digital electricity infrastructure are also some of the crucial factors that drive the market growth. However, lack of standardization and rise in privacy & security concerns are expected to hinder the smart grid market growth. Furthermore, increase in the number of electric vehicles on the road and upcoming smart cities projects in developing regions are expected to provide lucrative opportunities for the market growth in the coming years.
The global smart grid market is segmented on the basis of component, application, solutions, end user, and region. Based on component, the market is categorized into solutions and services. On the basis of application, it is classified into generation, transmission, distribution, and consumption/end use. By solutions, the market is categorized into advanced metering infrastructure (AMI), smart grid distribution management, smart grid communications, smart grid network management, substation automation, smart grid security, and others. On the basis of end user, it is divided into residential, commercial, and industrial. Based on region, the smart grid market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the smart grid market include Cisco Systems, Inc., General Electric, Honeywell International Inc, International Business Machines Corporation (IBM), Itron Inc., Oracle, Schneider Electric, Siemens, Tech Mahindra Limited, Wipro Limited, and others.
KEY BENEFITS
KEY MARKET SEGMENTS
By COMPONENT
By APPLICATION
By SOLUTIONS
By END USER
By Region
o Canada
o Germany
o France
o Italy
o Spain
o Rest of Europe
o India
o Japan
o South Korea
o Australia
o Rest of Asia-Pacific
o Middle East
o Africa
KEY MARKET PLAYERS PROFILED IN THE REPORT
Rise in concerns pertaining to environment protection and growth in adoption of smart grid technology to improve efficiency in energy conservation and consumption are the major factors that fuel the growth of the smart grid market. In addition, supportive government policies & regulations to use smart meters and rise in investments in digital electricity infrastructure are also some of the crucial factors that drive the market growth. However, lack of standardization and rise in privacy & security concerns are expected to hinder the smart grid market growth. Furthermore, increase in the number of electric vehicles on the road and upcoming smart cities projects in developing regions are expected to provide lucrative opportunities for the market growth in the coming years.
The global smart grid market is segmented on the basis of component, application, solutions, end user, and region. Based on component, the market is categorized into solutions and services. On the basis of application, it is classified into generation, transmission, distribution, and consumption/end use. By solutions, the market is categorized into advanced metering infrastructure (AMI), smart grid distribution management, smart grid communications, smart grid network management, substation automation, smart grid security, and others. On the basis of end user, it is divided into residential, commercial, and industrial. Based on region, the smart grid market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the smart grid market include Cisco Systems, Inc., General Electric, Honeywell International Inc, International Business Machines Corporation (IBM), Itron Inc., Oracle, Schneider Electric, Siemens, Tech Mahindra Limited, Wipro Limited, and others.
KEY BENEFITS
- The report provides an in-depth analysis of the global smart grid market, outlining current trends, key driving factors, and potential areas for product investments.
- Key players are analyzed with respect to their primary offerings, recent investments, and future development strategies.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global smart grid market from 2017 to 2025 is provided to determine the market potential.
KEY MARKET SEGMENTS
By COMPONENT
- Solutions
- Services
By APPLICATION
- Generation
- Transmission
- Distribution
- Consumption/End Use
By SOLUTIONS
- Advanced Metering Infrastructure (AMI)
- Smart Grid Distribution Management
- Smart Grid Communications
- Smart Grid Network Management
- Substation Automation
- Smart Grid Security
- Others
By END USER
- Residential
- Commercial
- Industrial
By Region
- North America
o Canada
- Europe
o Germany
o France
o Italy
o Spain
o Rest of Europe
- Asia-Pacific
o India
o Japan
o South Korea
o Australia
o Rest of Asia-Pacific
- LAMEA
o Middle East
o Africa
KEY MARKET PLAYERS PROFILED IN THE REPORT
- Cisco Systems, Inc.
- General Electric
- Honeywell International Inc
- International Business Machines Corporation (IBM)
- Itron Inc.
- Oracle
- Schneider Electric
- Siemens
- Tech Mahindra Limited
- Wipro Limited
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: SMART GRID MARKET BY COMPONENT
CHAPTER 5: SMART GRID MARKET BY SOLUTION
CHAPTER 6: SMART GRID MARKET BY APPLICATION
CHAPTER 7: SMART GRID MARKET BY END USER
CHAPTER 8: SMART GRID MARKET BY REGION
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: SMART GRID MARKET BY COMPONENT
CHAPTER 5: SMART GRID MARKET BY SOLUTION
CHAPTER 6: SMART GRID MARKET BY APPLICATION
CHAPTER 7: SMART GRID MARKET BY END USER
CHAPTER 8: SMART GRID MARKET BY REGION
CHAPTER 9: COMPANY PROFILES
CHAPTER 9: COMPANY PROFILES
Executive Summary
According to this report titled,'Smart Grid Market by Component, Application, Solutions, and End User: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,'the global smart grid market was valued at $66.96 billion in 2017 and is projected to reach $169.18 billion by 2025, growing at a CAGR of 12.4% from 2018 to 2025.The global shift toward secure, sustainable, affordable, and uninterrupted electricity supply is driving changes in the production, transmission, distribution, and consumption of electricity. In addition, smart grid can support the reliability of the grid and can bring possibilities for management of the real-time electricity production, demand, and storage. Moreover, rise in concerns pertaining to environment protection and growth in adoption of smart grid technology to improve efficiency in energy conservation and consumption are the major factors that fuel the smart grid market trends. In addition, supportive government policies & regulations to use smart meters and rise in investments in digital electricity infrastructure are also some of the crucial factors that drive the market growth. However, lack of standardization and rise in privacy & security concerns are expected to hinder the smart grid market growth.
Furthermore, increase in the number of electric vehicles on the road and upcoming smart cities projects in developing regions are expected to provide major opportunities for the market growth during the forecast period. In addition, the full deployment of advanced meters is also expected to provide major energy efficiency potential for the smart grid market.
Based on component, the solution segment dominated the overall smart grid market size in 2017 and is expected to remain dominant during the forecast period. The growth of this segment is mainly attributed to cost savings on overall electricity bills and increase in need to shift from conventional energy sources to sustainable and renewable energy resources. In addition, growing concerns regarding security and data privacy are also the major factor that drives the growth of this segment.
North America dominated the overall smart grid market in 2017 and is expected to remain dominant during the forecast period due to emergence of electric vehicles and major investments done by private and public as well as government entities in this region. Furthermore, Asia-Pacific is expected to exhibit highest growth rate throughout the forecast period. The growing demand to link up the remote and rural communities to national grid and increase in need to overcome the electricity outage are expected to drive the smart grid market growth in this region.
Key Findings of the Smart Grid Market:
Based on end user, the commercial segment generated the highest revenue for smart grid market share in 2017, the growth in demand for the uninterrupted, efficient, and reliable electricity source is the major factor that drives the market growth in this segment.
Based on application, the transmission segment dominated the overall market in 2017 and is expected to generate highest revenue during the smart grid market forecast period.
Some of the key smart grid industry players profiled in the report include Cisco Systems, Inc., General Electric, Honeywell International Inc, International Business Machines Corporation (IBM), Itron Inc., Oracle, Schneider Electric, Siemens, Tech Mahindra Limited, Wipro Limited, and others.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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