Smart Grid Networking Market Scope
A smart grid networking refers to the electricity network based on digital technology that is used to supply electricity to consumers via two-way digital communication. This system enables for monitoring, analysis, control, and communication in the supply chain to assist improve efficiency, reduce energy consumption and cost, and maximize the transparency and reliability of the energy supply chain.
According to AMA, the Global Smart Grid Networking market is expected to see growth rate of 9.8% and may see market size of USD16.5 Billion by 2026.
Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Smart Grid Networking market throughout the predicted period.
ABB Ltd (Switzerland), Cisco Systems Inc. (United States), Eaton Corporation PLC (Ireland), General Electric Co. (United States), Itron Inc. (United States), Oracle Corporation (United States), Osaki Electric Co. Ltd (Japan), S&C Electric Company Inc. (United States), Schneider Electric SE (France), Siemens AG (Germany) and Hitachi Ltd (Japan) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Smart Grid Networking market and Region with country level break-up.
On the basis of geography, the market of Smart Grid Networking has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Recently, S&C Electric Company, a smart grid leader improving power reliability and delivery worldwide, has announced the launch of the Scada-Mate SD Switching System, a non-SF6, an environmentally friendly solution designed to improve reliability while reducing greenhouse gases on the distribution grid.
Market Trend
- The Use of IoT, Cloud Computing, and Blockchain Technologies
Market Drivers
- The Rise in Smart Grid Deployments
- Push For Interoperability and Standardization
- Change Out Of Legacy Telephone Company Connections
- Growing Awareness among Consumers about the Advantages of Smart Grid Networking
- Unique Communications Standards Being Used In a Variety of Ways in Smart Grid
Opportunities
- Advanced Metering Infrastructure and Dual-Way and Real-Time Communication
- Emerging Demand from Developing Regions
Restraints
- High Cost of the Installations
- Lack of Better Energy Management
Key Target Audience
Smart Grid Networking Hardware Manufacturers, Smart Grid Networking Software Companies, Smart Grid Networking Services Providers, Technology Investors, Regulatory & Government Bodies, End Users and Others