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Smart Grid Networking Market Opportunities, Business Strategy and Growth Factors till 2023

Author: Akash Sangshetti
by Akash Sangshetti
Posted: Jul 17, 2018
smart grid

Market Scenario:

The smart grid networking market isn’t just growing, it is accelerating. Rise in smart grid deployments is one major factor driving the growth of smart grid market. Also, increasing need for better energy management is another major factor responsible for driving the growth of smart grid networking market.

ABB Group, Cisco Systems, Inc., Mitsubishi Electric, Fujitsu, General Electric Company, Huawei Technologies Co. Ltd., Itron, and Schneider Electric are a few major players in the global Smart Grid Networking Market. Increasing deployment of smart grids will create opportunities for traditional energy and open market for new players. Also, the growing demand for process automation and increasing need for remote monitoring of applications is set to drive the growth of the smart grid networking market. Increasing traction of smart grid as a service applications is one major factor responsible for fueling the growth of global smart grid networking market.

The software segment in the smart grid networking market comprises of network performance monitoring management, IP address management, network traffic management, network device management, network configuration management, network security management, and others. The network performance monitoring management sub-segment of the global smart grid networking market is expected to grow at a significant rate during the forecast period. This is owing to the increasing demand for real time monitoring of power consumption and energy management. Also, the growing trend of adopting smart and enery efficienct management systems is one major factor driving the growth of smart grid networking market.

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North America region holds the largest share of the market across the globe followed by Europe, and Asia Pacific region. The U.S. and Canada are dominating the North American market due to rising technological enhancements and growing adoption of artificial intelligence in the region. Moreover, the region has a well-established infrastructure, which allows faster implementation of advanced technologies. Additionally, the growing adoption of smart grid deployment is another major factor driving the growth of smart grid networking market in the region.

The global smart grid networking market is expected to grow at a CAGR of approximately 10% during the forecast period 2017-2023.

Key Players

Some of the prominent players in the global smart grid networking market are ABB Group (Switzerland), Cisco Systems, Inc. (U.S.), Mitsubishi Electric (Japan), Fujitsu (Japan), General Electric Company (U.S.), Huawei Technologies Co. Ltd. (China), Itron (U.S.), Schneider Electric SE (France), Siemens AG (Germany) and Trilliant Holdings, Inc. (U.S.) among others.

Intended Audience

  • Technology Investors
  • Research/Consultancy firms
  • Government Bodies
  • Smart Grid Manufacturers
  • Smart Grid Network Providers
  • Information Technology (IT) developers
  • Consulting service providers
  • Technology Providers
  • System integrators

Segments

The global smart grid networking market is segmented by hardware, software and service. Based on hardware, the market is segmented into cables, controllers, routers, smart meter communication modules, switches and others. Based on software, the market is segmented into network performance monitoring management, IP address management, network traffic management, network device management, network configuration management, network security management and others. Based on service, the market is segmented into consulting, network planning, design and integration, network risk and security assessment, network maintenance & support, and others.

Regional Analysis

The global smart grid networking market is studied in Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia Pacific is projected to grow at the fastest rate during the forecast period. The growth of the market in North America is attributed to technological advancements and increased adoption of smart grid networking applications across various industry verticals.

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TABLE OF CONTENTS

LIST OF TABLES

Table 1 Global Smart Grid Networking Market: By Region, 2017-2023

Table 2 North America Smart Grid Networking Market: By Country, 2017-2023

Table 3 Europe Smart Grid Networking Market: By Country, 2017-2023

Table 4 Asia-Pacific Smart Grid Networking Market: By Country, 2017-2023

Table 5 The Middle East & Africa Smart Grid Networking Market: By Country, 2017-2023

Table 6 Latin America Smart Grid Networking Market: By Country, 2017-2023

Table 7 Global Smart Grid Networking By Hardware Market: By Regions, 2017-2023

Table 8 North America Smart Grid Networking By Hardware Market: By Country, 2017-2023

Table 9 Europe Smart Grid Networking By Hardware Market: By Country, 2017-2023

Table10 Asia-Pacific Smart Grid Networking By Hardware Market: By Country, 2017-2023

Table11 The Middle East & Africa Smart Grid Networking By Hardware Market: By Country, 2017-2023

Table12 Latin America Smart Grid Networking By Hardware Market: By Country, 2017-2023

Table13 Global Smart Grid Networking By Software Market: By Regions, 2017-2023

Table14 North America Smart Grid Networking By Software Market: By Country, 2017-2023

Table15 Europe Smart Grid Networking By Software Market: By Country, 2017-2023

Table16 Asia-Pacific Smart Grid Networking By Software Market: By Country, 2017-2023

Table17 The Middle East & Africa Smart Grid Networking By Software Market: By Country, 2017-2023

Table18 Latin America Smart Grid Networking By Software Market: By Country, 2017-2023

Table19 Global Smart Grid Networking By Service Market: By Regions, 2017-2023

Table20 North America Smart Grid Networking By Service Market: By Country, 2017-2023

Continued…

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Ma

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Author: Akash Sangshetti

Akash Sangshetti

Member since: Dec 15, 2017
Published articles: 918

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