Global Smart Grid Managed Services Market Overview:
A smart grid managed services integrate all the systems of the grid and act as a decision support system. Its ability to take corrective measures finds faults, and provide useful information to the operator to manage the grid more efficiently will lead to its augmented adoption during the forecast period. Furthermore, with the increasing focus on renewable energy installations and demand-response programs, the demand for DMS will witness a stark increase. Smart grids help providers to manage power demands during peak and non-peak hours and also helps them to improve operational efficiency. Setting up smart grids also helps to cut down on carbon emissions.
Growth Drivers
- Growing Information Technology (IT) Sector
- Increasing Power and Electricity Industry
Roadblocks
- Risk of Cyber Security Thefts Associated with Smart Grid Managed Services
- Fuel Emission associated with Smart Grid Managed Services
Opportunities
- Adoption of Smart Meters and Advancement in Smartgrid Technology will Boost the Smart Grid Managed Services Market
- Surging Demand for Smart Grid Managed Services for the Production of Electric Vehicles
Challenges
- Lack of Operational Efficiency and Reliability
- High Cost Involved with the Setup of Smart Grid Managed Services
Competitive Landscape:
Some of the key players profiled in the report are Itron (United States), Accenture (Ireland), GE Power (United States), Sensus (United States), Siemens (Germany), ABB (Switzerland), Cisco (United States), Eaton Corporation (Canada) and Fujitsu Global (Japan). Analyst at AMA Research see United States Players to retain maximum share of Global Smart Grid Managed Services market by 2026. Considering Market by End Use Industry, the sub-segment i.e. Banking Sector will boost the Smart Grid Managed Services market. Considering Market by Deployment, the sub-segment i.e. Cloud-Based will boost the Smart Grid Managed Services market.
"The California Public Utility Commission has established new rules to protect information about consumer use of "smart meter" electrical services. The California decision, the first in the country, establishes fair information practice requirements, including a consumer right of access and control, data minimization obligations, use, and disclosure limitations, and data quality and integrity requirements. Electric utilities and their contractors, as well as third parties who receive electricity usage data from utilities, are subject to the new rules. EPIC submitted extensive comments to the Public Utility Commission regarding privacy safeguards for consumer energy usage data."
What Can be Explored with the Smart Grid Managed Services Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Smart Grid Managed Services Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Smart Grid Managed Services
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Smart Grid Managed Services market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Smart Grid Managed Services market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Smart Grid Managed Services Providers, Smart Grid Managed Services Distributors and Suppliers, Research and Development Institutes, Financial investors and Venture Capital, Regulatory Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.