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Smart Grid Network Market Estimated to Grow with a CAGR of Over 11% During the Period, 2020-2025 - ResearchAndMarkets.com - Odessa American: Business

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Smart Grid Network Market Estimated to Grow with a CAGR of Over 11% During the Period, 2020-2025 - ResearchAndMarkets.com

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Posted: Wednesday, March 11, 2020 9:18 am | Updated: 9:46 am, Wed Mar 11, 2020.

DUBLIN--(BUSINESS WIRE)--Mar 11, 2020--

The "Smart Grid Network Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

The global smart grid network market is expected to grow at a CAGR of more than 11% over the period of 2020-2025.

Factors, such as increasing investment and deployment of smart grid technologies such as smart meters, EV chargers, and other associated smart grid infrastructure technologies are expected to drive the market in the coming years. However, the problem of low accessibility to electricity in underdeveloped nations across the world and poor government regulations and initiatives to expand and modernize the grid infrastructure are expected to limit the growth of the market studied.

  • Advance metering infrastructure is expected to witness a significant growth during the forecast period owing to the increasing deployment of smart grid technologies across the developed and emerging economies of the world.
  • A number of governments of both emerging and underdeveloped nations across the world are increasingly viewing smart grid technology as a strategic infrastructural investment that will sustain their long-term economic prosperity and help them to achieve their carbon emission reduction targets. This, in turn, is expected to provide an ample amount of opportunity to the companies involved in smart grid network market in the near future.
  • Asia-Pacific is expected to dominate the market in 2019, with the majority of the demand coming from China, India, and Japan.

Key Market Trends

Advance Metering Infrastructure to Witness a Significant Growth

  • Advanced metering infrastructure (AMI) or smart metering is an integrated system of smart meters, communications networks, and data management systems that enables two-way communication between utilities and customers.
  • The metering industry has taken rapid strides in the recent past few years by traversing from automated meter reading (AMR) to smart metering, using bi-directional communication, thereby enabling greater benefits to electricity distribution companies (DISCOMs), customers and society.
  • AMI provides significant operational benefits, which translate to utility cost-savings and convenience to customers. AMI can significantly reduce operating costs by remotely reading meters, connecting/disconnecting service, and identifying outages - all previously manual functions, and generate more accurate bills faster and enable utilities to provide customers digital access to their usage information.
  • With the increasing efforts to modernize the electricity grid and reduce T&D losses, governments across the world are investing in advance metering infrastructure. This, in turn, is expected to drive the AMI market during the forecast period.

Asia-Pacific to Dominate the Market

  • Asia-Pacific is expected to dominate the smart grid network market in 2019 and is expected to continue its dominance in the coming years as well, backed up by countries such as China, India, and Japan.
  • China has the ambition to become a world leader in electrical power equipment by 2025. This is a national strategy outlined in the Technology Roadmap (2017) of the Made in China 2025 programme. Innovation and technology are heavily focused on in the national programme. Large amounts of funding are allocated to support the development.
  • In 2015, the National Development and Reform Commission and National Energy Administration stressed the significance of smart grid development to: Improve the ability of the grid to allow for and optimize the allocation of energy resources and promote utilization of clean energy and distributed energy, with the purpose to create a safe, efficient, clean, and modern energy system.
  • Similarly, in 2018, India was the third-largest electricity-generating nation in the world. This power is generated from both conventional and renewable sources. The country has made major strides in improving access to power among both rural and urban communities through various government-led schemes focused on Power for All.
  • The country made its first move to modernize its power utility sector, with the National Smart Grid Mission (NSGM) announced in May 2015, with an outlay of INR 980 crore and a budgetary support of INR 338 crore.
  • In August 2019, Energy Efficiency Services Limited (EESL), a joint venture of four public sector enterprises under the Union Ministry of Power of India, lined up investments worth INR 2,700 crore for the smart meter project in Uttar Pradesh, a state in India. Under the ambitious project, EESL is expected to install four million electricity meters in the premises of state power consumers in three years.
  • The increasing focus on dealing with issues prevailing with conventional electric networks, rising concerns pertaining to environment protection and growth in adoption of smart grid technology to improve efficiency in energy conservation and consumption are fueling the growth of the smart grid network market in the region.

Reasons to Purchase this report:

  • The market estimate (ME) sheet in Excel format.
  • 3 months of analyst support.

Key Topics Covered:

1 INTRODUCTION

1.1 Scope of the Study

1.2 Market Definition

1.3 Study Assumptions

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET OVERVIEW

4.1 Introduction

4.2 Market Size and Demand Forecast in USD billion, till 2025

4.3 Recent Trends and Developments

4.4 Government Policies and Regulations

4.5 Market Dynamics

4.5.1 Drivers

4.5.2 Restraints

4.6 Supply Chain Analysis

4.7 Porter's Five Forces Analysis

4.7.1 Bargaining Power of Suppliers

4.7.2 Bargaining Power of Consumers

4.7.3 Threat of New Entrants

4.7.4 Threat of Substitutes Products and Services

4.7.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

5.1 Technology Application Area

5.1.1 Transmission

5.1.2 Demand Response

5.1.3 Advance Metering Infrastructure (AMI)

5.1.4 Other Technology Application Areas

5.2 Geography

5.2.1 North America

5.2.2 Europe

5.2.3 Asia-Pacific

5.2.4 South America

5.2.5 Middle-East and Africa

6 COMPETITIVE LANDSCAPE

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

6.2 Strategies Adopted by Leading Players

6.3 Company Profiles

6.3.1 ABB Ltd

6.3.2 Cisco Systems Inc.

6.3.3 Eaton Corporation PLC

6.3.4 General Electric Company

6.3.5 Itron Inc.

6.3.6 Osaki Electric Co. Ltd

6.3.7 Hitachi Ltd

6.3.8 Schneider Electric SE

6.3.9 Siemens AG

6.3.10 Honeywell International Inc.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/bd6esu

View source version on businesswire.com:https://www.businesswire.com/news/home/20200311005478/en/

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KEYWORD:

INDUSTRY KEYWORD: ENERGY OTHER TECHNOLOGY TECHNOLOGY OTHER ENERGY UTILITIES

SOURCE: Research and Markets

Copyright Business Wire 2020.

PUB: 03/11/2020 10:18 AM/DISC: 03/11/2020 10:18 AM

http://www.businesswire.com/news/home/20200311005478/en

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