How Smart Grid Market Players have Encountered Temporary Covid-19 Tailwinds; Worth Watching New Growth Cycle

Smart Grid Market Latest Edition Published with Forecast to 2027


According to the report, Rising Trend of Smart Meters Owing to the It is Easier for Households that have their Own Microgeneration Systems Such as Solar Panels on Roofs is one of the primary growth factors for the market. Many Governments Are Viewing Smart Technology as a Strategic Infrastructural Investment That Will Enable Long-Term Economic Prosperity is also expected to contribute significantly to the Smart Grid market. Overall, applications of Smart Grid, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Technology, such as Programmable Logic Controller (PLC), is boosting the Smart Grid market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The End-Users, such as Residential, is boosting the Smart Grid market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Software Type, such as Advance Metering Infrastructure, is boosting the Smart Grid market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Hardware Type, such as Dynamic Line Rating Sensors, is boosting the Smart Grid market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

New technologies and major shifts in the industry will be game-changing factors that all players have to react now in order to maintain strong positions in the future. As many industry experts agree that significant changes are ahead. AMA’s Analyst on the Global Smart Grid market identified that the demand is rising in many different parts of the world as "Utility Companies Have Been Modernizing Power Plants and Substations ". Furthermore, some recent industry insights like "In November 2019, ABB, a Swiss-Swedish multinational corporation operating mainly in heavy electrical equipment, and automation technology areas has launched a new digital energy app store and machine learning technology. Verdigris Technologies is bringing its new machine-learning applications to ABB’s products to predict unplanned surges in power consumption for building owners. and In December 2019, Nokia, a Finnish multinational telecommunications, information technology, and consumer electronics company is installing a mission-critical IP/MPLS network to enable Fingrid to digitalize and automate the management of its national power grid. The new smart grid will be better able to seamlessly integrate variable renewable sources such as solar, wind and micro-generation from bioenergy" which is constantly making the industry very dynamic.

The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global Smart Grid market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market

**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2021 currency rates.

Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Smart Grid market and other related sub-markets covered in the study.

o Key & emerging players in the market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation
The overall Smart Grid market size is calculated using market estimation process, the Smart Grid market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Smart Grid market size has been validated using both top-down and bottom-up approaches.

Craig Francis

PR & Marketing Manager