MARKET INTRODUCTION
The smart grid networking is the bi-directional flow of electricity and information. These networking solutions are useful for utility operators in forecasting the expected electricity demand for commercial, residential, and industrial purposes during peak hours. With the growing number of industries and consumers, power demand is expected to rise exponentially in the future and it will in turn create the need for efficient networking. Besides, shifting focus towards consumption of renewable energy across the globe is resulting in rapid replacement of traditional grids with smart grids and deployment of smart grid networking.
MARKET DYNAMICS
The smart grid networking market is anticipated to grow in the forecast period owing to driving factors such as increasing focus on renewable energy generation coupled with high demand for peak-hour electricity. Also, environmental concerns associated with non-renewable energy generation are likely to favor the growth of the smart grid networking market. However, associated high cost and cyber security are some challenges faced by the market during the forecast period. On the other hand, ongoing major upgradation of projects for installation of smart grids offer substantial opportunities for market players.
MARKET SCOPE
The "Global Smart Grid Networking Market Analysis to 2028" is a specialized and in-depth study of the technology, media and telecommunications industry with a special focus on the global market trend analysis. The report aims to provide an overview of smart grid networking market with detailed market segmentation by hardware, software, service, and geography. The global smart grid networking market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading smart grid networking market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global smart grid networking market is segmented on the basis of hardware, software, and service. Based on hardware, the market is segmented as controllers, cables, routers, and others. On the basis of the software, the market is segmented as IP address management, network traffic management, network security management, network device management, and network configuration management. The market on the basis of the service is classified as network planning, network risk and security assessment, design and integration, and network maintenance.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global smart grid networking market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The smart grid networking market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting smart grid networking market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the smart grid networking market in these regions.
MARKET PLAYERS
The reports cover key developments in the smart grid networking market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from smart grid networking market are anticipated to lucrative growth opportunities in the future with the rising demand for smart grid networking in the global market. Below mentioned is the list of few companies engaged in the smart grid networking market.
The report also includes the profiles of key smart grid networking companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
- ABB Group
- Cisco Systems, Inc.
- Fujitsu Limited
- General Electric Company
- Huawei Technologies Co., Ltd.
- Itron Inc.
- Mitsubishi Electric Corporation
- Nokia
- Schneider Electric
- Siemens AG
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.