Smart Grid IT Systems Industry 2021
The Smart Grid IT Systems Industry is expected to grow from $ 24 billion in 2019 to $ 61.7 billion in 2023, and CAGR is expected to be +21%
Just like Technology, Electricity has become a very important part of our daily life because it is used to operate many electronics devices from our homes to offices and hospitals and manufacturing industries. Due to its usage, it is very important to keep its availability as high as possible and it should be used in the most efficient way because its resources are limited.
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Major Key Players:
The major key players of Smart Grid IT Systems Industry offering smart grids are GE , ABB , Siemens, Schneider Electric, Itron, Landis+Gyr, Aclara, Cisco, OSI, IBM , Wipro , Honeywell, Oracle, S&C Electric Company, Eaton , Kamstrup, Trilliant Holdings, Globema, Tech Mahindra, Enel X North America ,eSmart Systems, Tanatalus, EsyaSoft, Grid4C, and C3 Energy.
Key findings of the report:
Load handling: The power grid load / total sum is not stable and it varies with time. In the case of heavy load, a smart grid system can advise consumers to temporarily reduce energy consumption.
Demand Response Support: Provides an automatic way for users to reduce their electricity bills.
Decentralization of power generation: A distributed or decentralized grid system allows the user to generate onsite power by applying any suitable method.
Also, the high cost of smart grid upgrades is expected to have a significant impact on the growth of the Smart Grid IT Systems Industry during the forecast period.
Market Segmentation
Market – By Software
Advance Metering Infrastructure (AMI)
Smart Grid Distribution Management
Smart Grid Communication
Grid Asset Management
Substation Automation
Billing and Customer Information System
Smart Grid IT Systems Industry – By Hardware
AMI meter
Sensors
Networking hardware
Programmable Logic Controller (PLC)
Market By Service
Consulting
Deployment and integration
Support and maintenance
Smart Grid IT Systems Industry By Region
North America
U.S.
Rest of North America
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
Southeast Asia
Rest of Asia Pacific
Middle East and Africa
GCC Countries
Southern Africa
Rest of Middle East and Africa
Latin America
Brazil
Rest of Latin America
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