According to Stratistics MRC, the Global Smart Grid Market is accounted for $43.81 billion in 2021 and is expected to reach $167.33 billion by 2028 growing at a CAGR of 21.1% during the forecast period.
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Smart Grids are often defined as a sensible electrical network that comprises an electrical network and smart data communication technology. It is capable of delivering electricity to the user from multiple and cosmopolitan sources such as wind turbines, solar energy systems, and even plug-in hybrid electric vehicles. A smart grid is an electricity network using digital technology to provide electricity to consumers via two-way data communication. This system allows for monitoring, analysis, control, and communication within the supply chain to help increase efficiency, lessen energy consumption and cost, and maximize the transparency and dependability of the energy supply chain. The smart grid was introduced to overcome the flaws of conventional electrical grids by using smart meters.
Some of the key players profiled in the Smart Grid Market include ABB, GE, Siemens, Oracle, Schneider Electric, IBM, Wipro, Honeywell, Itron, Eaton, Mitsubishi Electric, Tech Mahindra, SAP, Cisco, Trilliant Holdings, and Tantalus.
Components Covered:
• Hardware
• Software
• Services
Communication Technologies Covered:
• Wireline
• Wireless
Technologies Covered:
• Communication Infrastructure
• Distribution & Network Automation
• Transmission Upgrades (TU)
• Consumer Interface
• Cyber Security
Applications Covered:
• Generation
• Transmission
• Distribution
• Consumption
End Users Covered:
• Residential
• Commercial
• Industrial
• Government
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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