Smart Grid Market to reach $70bn by 2024 Smart Grid Market | Page 2

Communication and wireless infrastructure smart grid market is anticipated to
expand over 20% by 2024. Increasing need for IoT intervention to improve grid
efficiency, customer services and demand management across power utilities will
boost the product demand. Digitalizing the grid using advanced cloud computing
technology and sensors aids in monitoring consumption patterns and provides real
time information on electricity usage. The use of control systems for several
applications including substation automation, distribution automation, advanced
outage management, and demand-side management is further strengthening the
product demand.
UK smart grid market will witness growth on account of supportive regulatory
frameworks pertaining to energy conservation and environmental sustainability. The
mandated nationwide rollouts and legislative directives toward smart meters will
further fuel the industry growth. The Energy Networks Association (ENA) plans to
implement a local energy market as part of their smart grid plan that would allow
business and households to trade electricity, thereby supporting energy
conservation.
U.S. Smart Grid Market Size, By Technology, 2017 & 2024 (USD Million)
Browse key industry insights spread across 250 pages with 256 market data tables &
29 figures & charts from the report, “Smart Grid Market Size By Technology
(Smart T&D Equipment, Distribution & Network Automation, Advanced
Metering Infrastructure, Consumer Interface, Communication & Wireless
Infrastructure), By Deployment(Generation, Transmission, Distribution, End-
Use), By Service (Consulting, Deployment & Integration, Support &
Maintenance), Industry Analysis Report, Regional Outlook (U.S., Canada,
Mexico, Germany, UK, France, Italy, Sweden, Denmark, Netherlands, Belgium,
Spain, China, India, Japan, Australia, South Korea, Saudi Arabia, UAE, South
Africa, Brazil, Chile. Columbia), Competitive Market Share & Forecast, 2018 –
2024 in detail along with the table of contents: https://bit.ly/2vg2j97
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