Global Smart Grid Market to Reach USD 65.4 Mln by 2021, Expects M&M in Its Latest Report Recently Published at MarketPublishers.com18 Aug 2016 • by Natalie Aster
LONDON – Driven by a range of factors including mandatory regulations and policies for smart meters, existing need to replace aging infrastructure, increasing concerns for carbon footprints reduction, strong demand for centralized gird distribution management and rising smart grid technology deployment from pole to pole, the global smart grid market is expected to witness a 27% CAGR through 2021. The market size will likely grow from USD 19.8 million in the current year up to USD 65.4 million by 2021.
The smart grid distribution management sector is estimated to be most rapidly growing sector of the overall market. Through 2021, this sector will likely see the highest CAGR propelled by expanding smart grid technology market, intensifying regulatory pressures for reduction of carbon emissions and rising adoption of distributed renewable generation.
Nowadays, the global smart grid market is dominated by North America, which is holding the lion’s share of the total market. The leadership of this region is attributed to rising spending on energy efficiency programs and regulatory government mandates in Canada and the USA. APAC is predicted to exhibit the highest growth rates through 2021, primarily due to fast smart grid deployments in Japan, China, Australia, India, Singapore, South Korea and New Zealand.
Topical research report “Smart Grid Market” worked out by MarketsandMarkets provides an in-depth analysis of the smart grid market worldwide as well as at regional and country scales. It covers key current market development trends, examines the major market growth driving and restraining forces, identifies future growth opportunities and prospects. Regulative environment and competitive scenario are examined in the report. Reliable data on the top market participants (ABB Group, Cisco Systems, General Electric Company, International Business Machine, Itron, Landis+Gyr, Oracle Corporation, Open Systems International, Schneider Electric SE, Siemens AG) are offered in this insightful report. Moreover, the publication sheds light on the new product launches, recent industry developments, partnerships, mergers and acquisitions. Forecasts up to 2021 are also at hand.
Many more comprehensive research studies by the publisher are available at M&M page.