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Emergence of Smart Grid Networking: Energy revolution backed with integration of Renewables exemplars the Smart Grid Networking Market to $89.4 billion

May 10
08:20 2019
Emergence of Smart Grid Networking: Energy revolution backed with integration of Renewables exemplars the Smart Grid Networking Market to $89.4 billion

Smart Grid Network Market Outlook and Opportunities 2019-2025
2019 Future of Global Smart Grid Network Market Outlook to 2025- Growth Opportunities, Competition And Outlook Of Smart Grid Network Market across Different Applications and Regions Report

Digitization is sweeping across diverse industries and among them the power and energy supply sectors standout to deliver reliable and transparent power supply while instilling sustainable resources of energy.


The ongoing adoption of integrating renewable sources of energy with smart power grids is crux for green technology reflected by concerns for environment.


Key trends shaping rapid emergence of Global Smart Grid Networking Market

The inclusive 8Th edition on Global Smart Grid Networking Market identifies recovering investments trends in energy sector coupled with supportive policies for energy savings, with increasing need for reducing distribution losses and efficient power grids as the underlying trends to shape the smart grid networking market.


Further, the ongoing trend for electro mobility and charging infrastructures augmented with rise of smart cities are among the influencing factors driving the growth of the market.


Hardware remains the most dominant with smart meters as the leading sub segment and holds up to half of the global smart grid networking market share in 2018 

Increasing awareness among the consumers coupled with focus on reduction of power bills reflects in wide adaption of smart meters and is expected to drive the demand for hardware components globally.


Technical advancements and innovations such as GPRS and radio wave frequencies for collection of data from smart meters are expected to accelerate the market growth of smart meters.


In addition, implementation of smart meters allows the power generation companies to implement on-time response program to manage demand and supply.


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Advanced metering infrastructure hold the major share for smart grid network market

AMI enables the transfer and gathering of energy usage information in less time and reduces load during shedding and examines energy and performs load outlining, which are key factors driving market demand.


U.S. electric utilities have installed more than 71 million advanced metering infrastructure (AMI) smart meters and as of 2018 and the highest Residential AMI penetration rate is accounted to be 97%, Washington, DC in 2017.


Government incentives and initiatives to reduce carbon content flares growth for smart grid networking market

United States has invested around USD 3.4 billion as part of American Reinvestment and Recovery Act Fund for the development of 100 projects for smart grid.


EU obligated to meet up to 20% reduction in greenhouse gas emissions (GHG) and generate more than 20% of EU’s energy consumption from renewable energy.


Chinese Government’s commitment in reducing the carbon content by 40-45% by 2020 will increase the adoption of renewable power and smart grid technologies.


In India, Bangalore Electricity Supply Company Limited has invested USD 1.44 million in a pilot study project.


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Strong demand for reduction of power losses and outages drives smart grid networking market

It is estimated that around 12% of the total losses in power generated is during transmission and distribution. Smart gird systems directly monitors the consumption patterns of the consumer and supply’s power based on the demand thereby reducing the losses the distribution.


Usage of smart grids networks with application of real time load management systems and demand response will safeguard the systems for power outages and disturbances.


Presence of advanced sensors and protection systems will detect and analyse the peak load and non-peak load situations and also helps in restoring the system quickly.


Rising electric vehicles and charging infrastructure paves new scope for smart grid networking market

Electric vehicles are forecast to grow at a double digit growth rate over the forecast period till 2025. In U.S the present unit of EV vehicles is up to 10,000 and the number of EVs will be more than 500,000 by 2025.


The substantial increase in the electric vehicles will exponentially increase the demand for the electric consumption, electric vehicles generate and store surplus renewable power, which can be further discharged to the grid.


The integration of smart grid with EV charging stations will help in handling the peak charging loads and identifies the power demand.


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Key players modelling Smart Grid networking market

  • Oracle Corporation
  • General Electric Company
  • Fujitsu Limited
  • ABB Ltd
  • Cisco
  • Mitsubishi Electric
  • Schneider Electric
  • Siemens AG
  • Silver Spring Networks
  • Huawei


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