Smart Grid Market Share, Size, Business Opportunity and Future Demand by 2028 |
Fortune Business Insights published a new report, titled, “Smart Grid Market Share 2028”. The report has offered an all-inclusive analysis of the global Smart Grid market taking into consideration all the crucial aspects like growth factors, constraints, market developments, top investment pockets, future prospects, and trends. At the start, the report lays emphasis on the key trends and opportunities that may emerge in the near future and positively impact the overall industry growth.
The global smart grid market size was USD 29.45 billion in 2020. The market is projected to grow from USD 35.07 billion in 2021 to USD 140.53 billion in 2028 at a CAGR of 21.9% in the 2021–2028 period.
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Competitive Scenario:
The research also encompasses a competitive analysis, employing a unique approach to assess and rank companies according to their performance within the market and their positions within their respective industries. This methodology categorizes participants into four distinct groups based on a variety of factors. Some of the factors taken into account for this evaluation include historical financial performance, growth strategies, and innovation achievements, introduction of new products, investments, and increases in market share, among others.
Top Key Vendors:
ABB (Switzerland), Siemens (Germany), Schneider Electric (France), S&C Electric Company (U.S.), Eaton (Ireland), GE (U.S.), IBM (U.S.), Wipro Limited (India), Honeywell (U.S.), Cisco (U.S.), Aclara (U.S.), Landis+Gyr (Switzerland), Oracle (U.S.), Itron (U.S.)
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Growth Factor Analysis:
Need for Reliable Power Distribution Networks to Fuel Smart Grid DeploymentSmart grid technology is gaining massive traction because of reliable fault detection and automatic self-healing capabilities. Its implementation offers real-time assistance to power management systems, leading to increased situational awareness regarding transmission & distribution management. Utilities worldwide are adopting the technology to reenergize their existing power distribution infrastructure.In May 2021, for instance, Networked Energy Services Corporation (NES) — the company known for its industry-leading Energy Applications Platform (EAP™) — unveiled plans to deploy more than 1 million smart meters by mid-2021. This move would help the company strengthen its new grid watch solution with threat detection and response.On the contrary, high initial costs associated with the product deployment could slightly slow down the market development, particularly in low- and middle-income countries.
Smart Grid Market Segmentation Analysis:
The Smart Grid Market 2023–2028 segmentation is based on various parameters, including types, applications, and regions. A detailed examination of every segment is covered in the study to give stakeholders a thorough understanding of the market. Besides, all the major sub-segments have been analyzed to help businesses better understand the market preferences and cater to diverse consumer groups.
By End-User:
Utility
Industrial
Residential
Commercial
By Component:
Software
Hardware
Services
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Smart Grid Market 2023–2028. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Regional Overview:
The market analysis report concerning the Smart Grid market 2023–2028 offers an all-encompassing exploration of diverse global regions, encompassing Europe, Latin America, North America, Asia-Pacific, and the Middle East and Africa. This comprehensive report furnishes an intricate examination of the revenue trends, market shares, sales figures, and growth rates pertaining to each region. By delving into these critical metrics, enterprises can gain valuable insights into the distinct prospects and obstacles present within every geographical area.
- North America (United States, Canada and Mexico)
- Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
- Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
- South America (Brazil, Argentina, Colombia, and Rest of South America)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
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Strategic Points in the Table of Contents of the Smart Grid Market:
- Introduction
- Executive Summary
- Market Dynamics
- Key Insights
- Qualitative Analysis — Impact of COVID-19
- Global Smart Grid Market Analysis (USD Billion), Insights and Forecast, 2023–2028
- North America Smart Grid Market Analysis (USD Billion), Insights and Forecast, 2023–2028
- Latin America Smart Grid Market Analysis (USD Billion), Insights and Forecast, 2023–2028
- Europe Smart Grid Market Analysis (USD Billion), Insights and Forecast, 2023–2028
- Asia Pacific Smart Grid Market Analysis (USD Billion), Insights and Forecast, 2023–2028
- Middle East & Africa Smart Grid Market Analysis (USD Billion), Insights and Forecast, 2023–2028
- Competitive Analysis
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