Global Smart Power Distribution Systems marketPosted by Manisha Kashid on February 20th, 2020 Global Smart Power Distribution Systems market was valued US$ 19.71Bn in 2019 and is expected toeach US$ 65.11Bn by 2027, at a CAGR of 14.2% during a forecast period. Global Smart Power Distribution Systems Market, by GeographyThe objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Smart Power Distribution Systems market dynamics, structure by identifying and analyzing the market segments by component, Service, Application, and region and, projects the global market size. Further, report also focuses on competitive analysis of key players by Hardware, price, financial position, Hardware portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to particular market segment. Global Smart Power Distribution Systems market is expected to increase need for savings in capital expenditure (CapEx) and operational expenditure (OpEx) by utilizing Adoption of smart power distribution solution. Increasing consumer demand for high speed data networks for reliable mobility and connectivity has fueled the demand for smart power distribution systems solutions. Numerous advancements in the networking industry and various benefits provided by automation technologies are projected to demand for smart power distribution systems solutions. Based on hardware, advanced metering infrastructure segment is expected to hold a major share during forecast period due to the rising adoption of AMI meters in order to increase operational efficiencies and customer service. Furthermore, a large number of utilities are rapidly installing AMI meters in order to generate more progressively accurate bills automatically and wirelessly send actual energy usage to the consumer, thus turn to boost the advanced metering infrastructure segment across different regions of the world. Consumers are rapidly adopting various smart grid solutions, as smart grid solutions enable electrical appliances to be automatically controlled and also controlled the overall cost of electricity. Among all segment software segment is expected to dominate during the forecast period. Increasing implementation of various advanced automated software in order to manage the rising power consumption, power outages, fault detection, and power theft boost the software segment to great extent. Software allows utilities to reduce the overall production costs by wiping out human blunders. The software segment is projected to expand at a high CAGR of around 14.9% during the forecast period, as several countries across the globe are focusing on developing and refining grid infrastructure, including advanced metering, substation automation, distribute on automation, ubiquitous communications networks, micro grids and DER integration. The industrial segment is expected to expand at a huge significant CAGR during the forecast period. Factors such as expansive number of oil and gas ventures and ceaseless mechanical headways are boosting the modern section. Geographically, North America held a major share of the global market in 2017 due to numerous technological advancements and presence of a large number of grid automation solution providers in some region. Power grid solutions and services providers in North America are collaborating with each other and targeting on offering various advanced technology solutions to the consumers owing to the rise in the usage of power in these region. In North America, a large number of utilities are increasingly investing in smart grid technologies in order to improve customer service and operational efficiency. In 2016, investor-owned electric companies in the U.S. invested around US$ 53 Bn in the energy grid, US$ 21 Bn in the transmission grid, and US$ 32 Bn in the distribution grid. Furthermore, the presence of smart grid solutions giants and various technological advancements are supporting the market in North America to generate significant revenues. Thus U.S. held a prominent share of the market in the region of 2017. For more information of visit:https://www.maximizemarketresearch.com/market-report/global-smart-power-distribution-systems-market/25591/ Global Smart Power Distribution Systems Market, by Hardware: • Advanced Metering Infrastructure • Sensors • Deployment and Integration • Deployment and Integration • North America • Cisco Systems Inc This Report Is Submitted By @ Maximize Market Research Company Customization of the report: Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us an d our sales team will guarantee provide you to get a report that suits your necessities.
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