Analysis tools such as SWOT analysis and Porter’s five force model have been inculcated in order to present a perfect in-depth knowledge about smart grid market. Ample graphs, tables, charts are added to help have an accurate understanding of this market. The smart grid market is also been analyzed in terms of value chain analysis and regulatory analysis.
The smart grid software segment is expected to hold the largest market share. The scope of the smart grid software covers Advance Metering Infrastructure (AMI), smart grid distribution management, smart grid communication, grid asset management, substation automation, and billing and customer information system.
There have been tremendous revenue losses caused due to energy loss and theft, resulting in power outages, which has increased the need to manage and control energy generation, distribution, and transmission processes.
Smart grid communication software is expected to have the fastest growth rate during the forecast period. The software enables networking abilities in electricity distribution system for improving operations, maintenance, and planning by enabling two-way communication between different components of the utility grid involved in generation, transmission, and distribution.
The networking hardware and software work together to form a mesh network, enabling a utility grid with intelligent features such as substation automation, distribution automation, energy management, real-time control, self-healing, and increased reliability and security.
This report includes data collected from market leaders across the value chain and has been evaluated in detail. Considering various sections of the report, information on the growth of this particular market during the mentioned forecast period is stated in detail.
Drivers, constraints, trends, impact and development are one of the many key parts of the report.
ABB Ltd. (Zurich, Switzerland), Siemens AG (Munich, Germany), Schneider Electric SA (Rueil-Malmaison, France), Itron, Inc. (Washington, US), Landis+Gyr (Zug, Switzerland), Aclara Technologies LLC (Missouri, US), Cisco Systems, Inc.
(California, US), Open Systems International, Inc. (Minnesota, US), IBM Corporation (New York, US), Wipro Ltd.
(Karnataka, India), Oracle Corporation (California, US), S&C Electric Company (Illinois, US), Eaton Corporation Plc (Dublin, Ireland), Kamstrup A/S (Skanderborg, Denmark), Trilliant Holdings, Inc. (North Carolina, US), NexGrid, LLC.
(Virginia, US), Globema (Warsaw, Poland), Tech Mahindra Ltd. (Maharashtra, India), EnerNOC, Inc.
(Massachusetts, US), Fujitsu Ltd. (Tokyo, Japan), Infrax Systems Inc.
(Texas, US), Esyasoft Technologies Pvt. Ltd. (Karnataka, India), e-Smart Systems Pvt.
Ltd. (Delhi, India), and Grid4C (Texas, US).
The smart grid market size is estimated to grow at a Compound Annual Growth Rate (CAGR) of +18% during forecast period 2017-2021. The market is driven by factors the availability of hardware and connectivity devices at affordable cost, rising need for real-time information system, government policies and legislative mandates, regional government initiatives for smart meter roll-outs, increasing demand for integration of renewable energy sources, and increasing awareness about carbon footprint management.
However, the utility operators face various obstacles while adopting smart grid solutions, such as security concerns, data protection, and lack of a standardized and uniform technology for smart grid.
Smart grid sensors are small, lightweight nodes that serve as a detection station in the network. Smart grid sensors enable the remote monitoring of equipment such as transformers and power lines and the management of energy resources in the smart grid.
Smart grid sensors determine, monitor, and measure the voltage supply and return them into a readable format signal. These sensors also detect electric current (AC or DC) in a wire, and generate a signal proportional to it in a digital output.
Smart grid sensors offer several advantages to utilities. They provide valuable data for energy transmission, which is maintained and utilized by the departments of utilities.
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the smart grid market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different regions.
- This report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders to better understand the competitors and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers and acquisitions.
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