Smart Grid Market Revenue Estimated to Reach $169.18 Billion by 2025

03/lug/2019 12:56:37 Allied Market Research Contatta l'autore

Deployment of smart grids on large scale and favorable government policies along with fiscal incentives Furthermore, the utility companies focusing on enhancing distribution efficiency boost the market growth. However, high installation cost of smart meters by end-users is the growth of this market. On the contrary, various grid operators are looking to manage their demand for power and offer opportunities for growth of the  smart grid market .

The solution segment accounted for more than three-fourths of total revenue in 2017 and will maintain its dominance by 2025. However, the services segment is expected to register the highest CAGR of 13.9% from 2017 to 2025.

North America region accounted for more than two-fifths of the market in terms of revenue in 2017. However, the Asia-Pacific region is expected to grow at the highest CAGR of 16.1% during the forecast period. The research also analyzes regions including Europe and LAMEA.

The substation automation segment accounted for more than one-fourth of the total revenue in 2017 and will maintain its dominance by 2025.

The transmission segment accounted for more than one-third of the total revenue in 2017 and will maintain its dominance by 2025. However, the distribution segment is expected to register the highest CAGR of 15.7% from 2017 to 2025.

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The residential segment is the highest CAGR of 14.7% from 2017 to 2025. However, the commercial segment accounted for nearly half of the total revenue in 2017 and will maintain its dominance by 2025.

The key market players explored in the research include Wipro Limited, Cisco Systems, Inc., Tech Mahindra Limited, General Electric, Siemens, Honeywell International Inc., Schneider Electric, International Business Machines Corporation (IBM), and Itron Inc., Oracle, They have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain strong position in the global industry.  

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