The global Smart Grid Market will be worth USD 122.97 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing initiatives of the government to adopt renewable sources of energy and reduce the carbon dioxide emission levels. Besides, the increasing supportive policies and regulations of the government regarding the adoption of the smart grid technologies is expected to boost the market growth over the forecast period.

The latest research report by Emergen Research, named ‘Global Smart Grid Market - Forecast to 2027’, entails a comprehensive review of the global Smart Grid market’s present and future trends. The report gathers viable information on the most established industry players, sales and distribution channels, regional spectrum, estimated market share and size, and revenue estimations over the forecast timeframe.

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COVID-19 Impact Analysis:

This report is the latest document encompassing the massive changes that took place in the Smart Grid market following the emergence of the COVID-19 pandemic. The pandemic has drastically affected the global economic landscape, thereby disrupting the operating mechanism of the Smart Grid market. The severe global crisis has prompted organizations to efficiently respond to the rapidly shifting business environment. Therefore, the report fully covers the profound impact of COVID-19 on this industry, with a special focus on the affected industry segments.

Key Highlights From The Report

  • In October 2019, ABB completely acquired a majority stake in Chargedot Shanghai New Energy Technology Co., Ltd. The Shanghai-based company provides AC and DC charging stations. The acquisition strengthened the relationship between leading Chinese EV manufacturers and ABB.
  • The Smart Grid distribution Management segment held the largest market share of 41.0% in the year 2019 as it can optimize the renewal energy distribution while minimizing the electricity bills for the customers.
  • The Deployment and Integration segment is forecasted to grow with the fastest CAGR of 20.6% over the forecast period due to the increasing requirement in the technological advancements of the traditional power systems.
  • The Commercial segment accounted for the largest market share in 2019 due to the increasing adoption of the advanced metering infrastructure by the commercial segment.

Competitive Outlook:

  • The global Smart Grid market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Smart Grid market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.

Some of the key participants in this industry include:

  • ABB
  • General Electric
  • Siemens
  • Itron
  • Aclara
  • Schneider Electric
  • Cisco
  • S & C Electric Company

Key questions addressed in the report:

  • What are the key factors driving the global Smart Grid market?
  • Who are the key manufacturers in this market space?
  • Who are the distributors, traders and dealers of this market?
  • What are the market opportunities and risks affecting the performance of the vendors in the global Smart Grid market?

Read More @https://www.emergenresearch.com/industry-report/smart-grid-market

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