Smart Grid Market Emerging Trends, Overview, Share, Global Research, Development, and Forecast 2021-2030 with Prominent Regions and Countries Data

In a recent published report, Kenneth Research has updated the market report for Smart Grid Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Smart Grid Market products.

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The market is thriving on account of the growing trade on fuel worldwide, backed by the rising demand for energy from the end-users. According to the statistics by the World Bank, exports of fuel increased from 12.91% of merchandise exports in 2001 to 14.25% of merchandise exports in 2018. Additionally, imports of fuel registered a growth by 1.28x between the years 2001 and 2018. In 2001, the import of fuel was 10.30% of merchandise exports whereas in 2018, it was 13.19% of merchandise exports.

Global Smart Grid Market was valued at USD 20.49 Billion in the year 2017. Global Smart Grid Market is further estimated to grow at a CAGR of 18.83% from 2017 to reach USD 81.45 Billion by the year 2025. North America region holds the highest Market share in 2016 and North America Market is considered as the fastest growing Market in the forecasted period. At a country level U.S, Canada, Mexico holds the highest Market share in 2016 and it is projected to grow strongly in the coming years.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

The major player in smart grid Market are ALSTOM, Aclara Technologies LLC., General Electric Company, Schneider Electric SA, Oracle Corporation, ABB Ltd., Cisco Systems Inc., Siemens AG, Open Systems International Inc., Wipro Limited.

SWOT Analysis of Smart Grid Market
Government Legislation and Policies
Installation cost is higher
Enable Market for electricity to flourish
Network communication is critical

The Global Smart Grid Market is segmented by hardware, by software, and by services in the forecasted period. In Software segment, the major shares of the Market come from Communication segment in Global Smart Grid Market. As hardware and software come under communication and together create a mesh network. On the other hand, by hardware type, Sensors for Smart Grid Market is expected to grow at highest CAGR during the year 2018-2025.

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Global Smart Grid Market Overview By Software
Smart Grid Distribution Management
Advanced Metering Infrastructure
Smart Grid Communication
Billing and Customer Information System
Substation Automation
Grid Asset Management

Global Smart Grid Market Overview By Service
Maintenance & Support
Deployment & Integration

Global Smart Grid Market Overview By Hardware
Programmable Logic Controller
Advanced Metering Infrastructure (AMI) Meter
Networking Hardware

Global Smart Grid Market Overview By Region
North America
*Rest of Europe
*Rest of Asia-Pacific
*Latin America
*Middle East & Africa

Key points covered in this report:

  • The historical and current data is provided in the report based on which the future projections are made and the industry analysis is performed.
  • The import and export details along with consumption value and production capability of every region is mentioned in the report.
  • Porter’s five forces analysis, value chain analysis, SWOT analysis are some additional important parameters used for the analysis of market growth.

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About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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