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Smart Grid Market Size, Share, Opportunities, And Trends By Component (Hardware, Software, Services) And By Geography - Forecasts From 2019 To 2024

101 pages
Published on : Oct 2019
Report Code : KSI061613052

Description

Smart Grid market is projected to grow at a CAGR of 23.62% during the forecast period, reaching a total market size of US$73.316 billion in 2024 from US$20.540 billion in 2018. Smart grid is an electricity supply network that uses digital communications technology to detect and react to local changes in usage. The smart grid market is driven by increasing adoption of distributed renewable generation and regulatory pressure for reducing carbon emission. Rapidly increasing population, urbanization, and industrialization is pressurizing governments and international organizations to set up strict regulatory standards regarding carbon emission which is also boosting the growth of smart grid market. Growing demand for electric cars provides a great opportunity for the expansion of smart grid market. However, high initial cost, the safety concerns related to smart grid cybersecurity and vulnerabilities in the energy industry may hamper the market growth. Geographically, the North America region is expected to have a significant market share on account of early adaptation of technology. 

The “Smart Grid Market– Forecasts from 2019 to 2024” is an exhaustive study which aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by component and geography.  

The smart grid market has been segmented based on component and geography. By component, the market has been segmented into hardware, software, and services.

Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa, and Asia Pacific regions. The report also analyzes 15 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.  

Major players in the smart grid market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the smart grid market.

Segmentation:

By Component   

Hardware

Software

Services

 

By Geography

North America

USA

Canada

Mexico

 

South America

Brazil

Argentina

Others

 

Europe

Germany

France

United Kingdom

Spain

Others

 

Middle East and Africa

Israel

Saudi Arabia

Others

 

Asia Pacific

China

Japan

South Korea

India

Others

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