Smart Grid is a digital technology based on an electric network that is used to supply electricity to consumers via two-way communication. The smart grid provides efficiency, reduces consumption of energy and cost by allowing to monitor, analysis, control, and communication with the supply chain, and maximize reliability and transparency of the energy supply chain. Features of smart grids include load handling and decentralized of power generation. The smart grid can automate the tracking of electricity consumption at any location and used in power grid modernization in order to reduce transmission and distribution losses.

Factors such as the increasing government support and investment and to reduce transmission and distribution losses during delivery to the consumers are the major drivers for the global Smart Grid market. In addition, the rapid advancing of technological solutions in the field of energy management is also responsible for the rapid growth of the global Smart Grid market during the forecast period. Moreover, increases demand electric vehicles on the roads, rising concern of environment protection and to improve efficiency in energy consumption and conservation are playing a vital role in the increasing demand for the smart grid. For instance, in Apr 2018 ABB launched a digitally integrated power transformer to improve the reliability and efficiency of power networks. However, high deployment cost and lack of standard and interoperability along with cybersecurity risk are restraining the market growth during the forecast period.

Various notable players in the market includes ABB Ltd., General Electric, Cisco Systems Inc., Siemens AG, Schneider Electric, IBM Corp., Landis+GYR Ltd, Echelon Corp., eMeter Corporation, Itron, Inc. among others. Major players are focussing on product launch, acquisition, collaboration to expand their global reach and become a market competitive. For instance, in 2018, ABB acquired GE industrial Solution to expand global reach and product portfolio in North America.

The Global Smart Grid market has been segmented by component, technology, end user and key geographies. Based on component, the market comprises of hardware and services. Based on technology, the market is segmented into Advance Metering Systems, Smart Grid Distribution Management, Smart Grid Network Management, Smart Grid Network Management, Smart Grid Security and Others. On the basis of end user, market is segment into residential and commercial.

The research report “Global Smart Grid market” provides in-depth analysis of the global Smart Grid market based on component, technology, end user and major geographies for the forecast period from 2019 to 2026. The report also highlights the major market drivers propelling the growth as well as challenges faced by market participants. The research report provides market size and forecast for the global Smart Grid market. In addition, the report also analyses the competitive landscape, major players and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.

Key questions answered in this research report:
1- At what pace is global Smart Grid market growing? What will be growth trend in future?
2- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
3- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Smart Grid market?
4- What are the various application areas and how they are poised to grow?

Market Segmentation
• By Component
o Hardware
o Services

• By Technology
o Advance Metering Systems
o Smart Grid Distribution Management
o Smart Grid Network Management
o Smart Grid Security
o Others

• By End User
o Residential
o Commercial

• By Geography
• North America
As a part of customization
o By Component
o By Technology
o By End User
o US
o Canada
o Mexico

• Europe
As a part of customization
o By Component
o By Technology
o By End User
o UK
o Germany
o Spain
o Rest of Europe

• Asia-Pacific
As a part of customization
o By Component
o By Technology
o By End User
o China
o Australia
o India
o Rest APAC

• ROW
As a part of customization
o By Component
o By Technology
o By End User
o Brazil
o South Africa
o GCC countries
o Rest of world (remaining countries of LAMEA region)

Leading Market Players
• ABB Ltd.
• General Electric
• Cisco Systems Inc.
• Siemens AG
• Schneider Electric
• IBM Corp.
• Landis+GYR Ltd
• Echelon Corp.
• eMeter Corporation
• Itron, Inc.