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Smart grid network market illuminated by new report

IT Market Research

Global Smart Grid Network Market - Analysis of Growth, Trends and Forecasts (2018 - 2023)


The International Energy Agency (IEA) estimates to save more than USD 270 billion investment in new infrastructure, by integrating participation of approximately 1 billion households and 11 billion smart appliances in interconnected electricity systems by 2040. The smart grid network is expected to be a key enabler for achieving these objectives, as it reduces transmission and distribution loss (especially in Asia-Pacific), incorporates greater renewable mix, helps manage rising peak demand, and provides improved grid stability.

The roll-out of smart meters is being considered an integral part of the smart grid network stability. By the end of 2016, there were an estimated 700 million smart meters installed across the globe, with approximately half of the deployment in China alone.