Revenues from Smart Grid industry to top $ 65.42 Billion in 2021 Smart Grid Market

Revenues from Smart Grid industry to top $ 65.42 Billion in 2021
According to a new market research report "Smart Grid Market by Solution (Advanced Metering
Infrastructure, Smart Grid Distribution, Smart Grid Communication, Grid Asset Management, Geographic
Information System and Billing & Customer Information System), by Service - Global Forecast to 2021",
published by MarketsandMarkets™, the smart grid market size is expected to grow from USD 19.77 Billion in
2016 to USD 65.42 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 27.0% during 2016–2021.
Browse 70 market data tables with 55 figures spread through 158 pages and in-depth TOC on "Smart Grid
Market"
http://www.marketsandmarkets.com/Market-Reports/smart-grid-market-208777577.html
Early buyers will receive 10% customization on this report.
The major drivers for upsurge in demand for smart grid technology solutions are the mandatory regulations
and policies, increasing concern for reducing carbon footprints, need for replacing aging infrastructure, and
need for centralized gird distribution management and control.
High demand in growing economies and increasing ICT spending for smart grid technology offer major
opportunities for smart grid vendors and solution providers
The market size of smart grid has considerably grown over the past few years on the account of increasing
adoption of smart meters, regional government initiatives and funding for smart grid projects, electric vehicles,
and rising number of smart city projects across the globe. Moreover, the efficient way of managing distributed
energy resources and increasing concern about reduction of carbon footprints are also pushing the market for
smart grid to growth.
Integration and deployment services segment is expected to grow at the highest CAGR during the forecast
period
The smart grid market has been segmented into software, services, and regions. The integration and
deployment service is projected to grow at a high growth rate; hence, will present good market opportunity
during the forecast period. The increasing demand of system integrators for integration and implementation
service, software development service, application technology integration, database design and modeling, and
deployment service acts as a major driving factor for the growth of system integrators and deployment service
providers in the smart grid market.
North America is expected to hold the largest market share in the smart grid market
North America is expected to hold the largest market share and dominate the smart grid market from 2016 to
2021. The region is expected to see a slowdown in the smart grid market by 2021, as most of the smart grid
projects funded by American Recovery and Reinvestment Act (ARRA) 2009 for investor-owned larger utilities in
the U.S. reached completion in 2015. However, smaller co-operative utilities are expected to inject funds for
smart grid deployments in the U.S. Asia-Pacific is expected to offer potential growth opportunities due to the
upcoming smart grid projects, new economic and political reforms of the regions, increasing energy prices, and
growing employment opportunities.
The major vendors covered in the smart grid market for this study include ABB Group (Switzerland), General
Electric Company (U.S.), International Business Machine (U.S.), Itron Inc. (U.S.), Landis+Gyr AG (Switzerland),
Oracle Corporation (U.S.), Schneider Electric SE (France), Siemens AG (Germany), Cisco Systems, Inc. (U.S.), and
Open Systems International, Inc. (U.S.).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats
which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers