Smart grid software market is projected to grow at a CAGR of 23.61% during the forecast period, reaching a total market size of US$18.190 billion in 2024 from US$5.099 billion in 2018. A smart grid is a self-sufficient electricity supply network that uses digital communications technology for monitoring, control, and analysis within the supply chain and can act remotely on network incidents, improving the supply and relationship with the environment by providing reliable and efficient power supply through various smart grid applications and technologies. Smart grid software is an important part of the smart grid infrastructure that helps simplify the implementation and functionality of the smart grid and improve process efficiency and reduce energy production costs. The growth in the market is attributed to the growing smart grid technology coupled with the regulatory requirements to reduce carbon emissions.
The “Smart Grid Software market – Forecasts from 2019 to 2024” is an exhaustive study that 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 analyses key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyses the market through comprehensive market segmentation by application and geography.
The smart grid software market has been segmented based on application and geography. By application, the market is segmented as smart grid operations and smart grid administration.
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 analyses 15 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries presents for the manufacturers.
Major players in the smart grid software 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 software market.