Study Objective of Smart Grid Market
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Global Smart Grid Market
- To provide insights about factors affecting the market growth
- To analyze the Smart Grid market based on various factors- price analysis, supply chain analysis, porter’s five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW)
- To provide country level analysis of the market with respect to the current market size and future prospective
- To provide country level analysis of the market for segment by software & hardware, by sensor, by storage technology by communication network and sub-segments.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global Smart Grid Market
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Market Synopsis of Smart Grid Market
Smart Grid is a modernized electrical grid system which purely operates on analog and digital information and communications technology. The main function of Smart Grid is to monitor, gather the data, and analyze the data, control and communication in digitalized form. Besides the one way communication in traditional grid system, smart grid system provides two way communication. Infrastructure development is one of the major factor which is driving the market of smart grid. Currently, this market has been valued at US $XX million which is expected to grow at US $XX million by the end of forecasted period.
Segmentation by Software & Hardware: Distribution Management System, Power System Planning & Data Management, Meters among others.
Segmentation by Sensor: Current and Voltage Sensors, Optical sensor HAN sensors among others.
Segmentation by Storage Technology: Air Energy Storage & Batteries (sodium-sulfur (NaS), nickel-cadmium (NiCd), lithium-ion technologies (Li-ion), advanced lead-acid (Pb-acid) among others)
Segmentation by Communication Network: HAN (Home Area Network), WAN.
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Currently, North America is dominating the market of Smart Grid with the market share of XX% which has been valued at US $XX million in the year 2015. The main factor which is driving the market is technological advancement and need of more stable electricity network in the country. Europe is closely following the North America with the market share of XX%. High government participation in the area of electricity and power generation in the European countries are some major factor driving the market in the Europe. Asia-Pacific holds XX% of market share where countries like China, Japan and India are adopting the smart grid system for better electricity distribution.
The key players in the market of Smart Grid are- Siemens AG (Germany), devolo AG (Germany), ABB (Switzerland), Cisco Systems (U.S.), IBM (U.S.), Itron (U.S.), S&C Electric Company (U.S.), Schneider Electric (France), Opower (U.S.), Silver Springs Networks (U.S.) among others.
- In June 2016, ABB announced that they have successfully started 648 MW solar project in India.
- In February 2016, S&C Electric Company and Tantalus Corp announced that they will work together to support layered communication for grid optimization.
- In the February 2016, devolo AG announced the collaboration with Eichhoff Kondensatoren GmbH for developing new data communication product.
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