Smart Grid Industry

Major driving factor is modernization of aging grid infrastructure and increasing awareness about carbon footprint management.

PORTLAND, OR, UNITED STATES, December 17, 2021 /EINPresswire.com/ -- The deployment of smart grid on a large scale and favorable government policies along with fiscal incentives drive the market of global Smart Grid Industry. Furthermore, the utility companies focusing on enhancing distribution efficiency boost the market growth. However, high installation cost of smart meters borne by end-users hampers the growth of this market. On the contrary, various grid operators trying to effectively manage the demand for power offer lucrative opportunities for the growth of the Smart Grid Industry.

The global Smart Grid Industry contributed $66.96 billion in 2017 and is estimated to garner $169.19 billion by 2025, growing at a CAGR of 12.4% from 2017 to 2025. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.

North America region accounted for more than two-fifths of the market in terms of revenue in 2017. However, the Asia-Pacific region is expected to grow at the highest CAGR of 16.1% during the forecast period. The research also analyzes regions including Europe and LAMEA.

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The solution segment accounted for more than three-fourths of the total revenue in 2017 and will maintain its dominance by 2025. However, the services segment is expected to register the highest CAGR of 13.9% from 2017 to 2025.

The transmission segment accounted for more than one-third of the total revenue in 2017 and will maintain its dominance by 2025. However, the distribution segment is expected to register the highest CAGR of 15.7% from 2017 to 2025.

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The smart grid communications segment is expected to register the highest CAGR of 16.8% from 2017 to 2025. However, the substation automation segment accounted for more than one-fourth of the total revenue in 2017 and will maintain its dominance by 2025.

The residential segment is expected to register the highest CAGR of 14.7% from 2017 to 2025. However, the commercial segment accounted for nearly half of the total revenue in 2017 and will maintain its dominance by 2025.

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Highlights of the report:

1. Comprehensive assessment of all opportunities and risk in the global market.
2. Smart Grid Industry recent innovations and major events.
3. Detailed study of business strategies for growth of the Smart Grid Industry-leading players.
4. Conclusive study about the growth plot of Smart Grid Industry for forthcoming years.
5. In-depth understanding of Smart Grid Industry-particular drivers, constraints and major micro markets.
6. Favourable impression inside vital technological and market latest trends striking the Smart Grid Industry.

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