Smart Grid Technology Market: Analysis of Trends and Growth Factors

2018-02-27 16:46:06

According to a new report published by Reports Monitor titled, “Global Smart Grid Technology Market Study, Innovations and Forecast, 2017-2025,” the smart grid technology market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. 

Simply, smart grid is stated as the adoption of dual mode communication between the utility and customers and analyzing the dynamic energy required by the customer to improve the efficiency in terms of avoiding the wastage of energy and increasing the economic gains.

The Global Smart Grid Technology Market Professional Survey Report scrutinizes the present scenario and the future growth prospects of the Industry. It covers the market canvas and the growth opportunities in the coming years. The report has been made with an in-depth and detailed analysis along with important inputs from the various industry experts.

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Collaboration of private and government sectors in the expanding the energy distribution infrastructure has resulted as a major factor in propelling the growth of smart grid technology market. Innovation in the field of IoT and other services has generated various market opportunities in the smart grid technology market thereby achieving operational efficiency. The complexities involved in upgrading the infrastructure for smart grid technology is expected to hamper the market growth.

The regional analysis of electronic skin market includes: North America, Europe, Asia-Pacific and Latin America, Middle East and Africa. North America is expected to dominate the market mainly due to the increased demand for reliable and secure power source, while Asia Pacific is anticipated to emerge as a fastest growing region , owing to the increased industrialization in the countries such as China, Japan, India and more. 

The major companies profiled in the report include General Electric Company ,      ABB Ltd. ,     Siemens AG ,      Schneider Electric Sa ,      Itron, Inc. ,  Landis+GYR ,    Aclara Technologies LLC ,Cisco Systems, Inc. ,  Open Systems International, Inc. ,  International Business Machines Corporation ,     Wipro Limited ,     Oracle Corporation.

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