The smart grid market size is estimated to grow from USD 19.8 million in 2016 to USD 65.4 million by 2021, at a CAGR of 27.0% due to the increasing need for replacing aging infrastructure, mandatory regulations and policies, need for centralized gird distribution management and control, and increasing concern for reducing carbon footprints.
The smart gird distribution management segment is estimated to have the highest CAGR during the forecast period as they are responsible for the support of utilities demand response management programs, micro-grids, distribution automation, outage management, network optimization, and workforce management.
The major growth drivers identified for the smart gird distribution management market are rising smart grid technology market, increasing adoption of distributed renewable generation, and regulatory pressure for reducing carbon emission. Globally, the market is witnessing substantial investments in R&D and marketing channels.
North America is expected to hold the largest share of the smart gird market in 2016 due to increasing spending on energy efficiency programs coupled with regulatory government mandates in the U.S. and Canada. Asia-Pacific (APAC) is expected to grow at the highest growth rate during the forecast period due to rapid smart grid deployments in China, Japan, and India, along with Australia, Singapore, New Zealand, and South Korea.
- ABB Group
- Cisco Systems, Inc.
- General Electric Company
- IBM Corporation
- Itron, Inc.
- Landis+Gyr AG
- Open Systems International
- Oracle Corporation
- Schneider Electric SE
- Siemens AG
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Smart Grid Management Market Analysis, By Solution
8 Smart Grid Management Market Analysis, By Service
9 Geographic Analysis
10 Competitive Landscape
11 Company Profiles
For more information visit http://www.researchandmarkets.com/research/8rg8nx/smart_grid_market
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SOURCE Research and Markets