Global
smart grid market was valued at USD 37.7 billion in 2012 and is
expected to reach 118.1 billion in 2019, growing at a CAGR of 18.2%
from 2013 to 2019.
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Unbalanced
nature of demand of power supplemented by increasing transmission and
distribution losses coupled with policy and regulation for smart grid
are expected to bolster the demand for the global smart grid market.
Additionally, increasing need of reliable, secure, and quality of
power supply and the increased efficiency achieved through the grid
optimization is anticipated to augment the demand for the global
smart grid market. Lack of interoperability and open standards can
hamper the growth in the market. However, emerging option of
prepayment of electricity with the deployment of advanced metering
infrastructure is expected to offset the growth restraints, and
further boost the growth in the global smart grid market.
Key
technology analyzed in this market study includes: advanced metering
infrastructure, distribution automation, software and hardware,
communication technologies, transmission upgrades, and cyber
security. Transmission upgrades held a majority of the global market
share followed by the distribution automation, and advanced metering
infrastructure technologies in 2012. The demand for an efficient,
reliable, and secure interstate transmission and distribution network
that can integrate renewable sources of energy, presently stranded
worldwide, is expected to bolster the demand for transmission
upgrades. However, with the market for transmission upgrades is
expected to mature in the future. With the electrical transmission
and distribution infrastructure upgrades, the utilities are expected
to successfully integrate renewable sources of energy as well as the
other smart grid technologies. The global market for smart grid
technology is likely to grow at a CAGR of 18.2% between 2013 and
2019.
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Asia
Pacific is expected to dominate the global market for smart grid in
2012, accounting for more than 45% of the global market share.
Increasing investment coupled with the rising demand for smart grid
technologies, and higher transmission and distribution losses
attributed to the adoption of smart grid in the region. Asia Pacific
is expected to capture additional market share by 2019; however, the
regional rankings in terms of market share are likely to remain same
over the forecast period. Key players in the market include Sensus,
Silver Spring Networks, Siemens, Landis+Gyr, Schneider Electric,
Itron, Aclara, Alstom among others. The research analyzes and
estimates the market of smart gird in the global scenario, providing
detailed trend analysis of the market by technology and geography,
and as well the comprehensive analysis of the companies that are
dealing in the
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global
smart grid market. The report presents a thorough assessment of the
strategies followed by different smart grid stakeholders by
segmenting the smart grid market as below:
Global
Smart Grid Market: Technology Analysis
Advanced
Metering Infrastructure
Distribution
Automation
Software
and Hardware
Communication
Technologies
Transmission
Upgrades
Cyber
Security
Global
Smart Grid Market: Geography Analysis
North
America
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