Global Smart Grid Networking Market to Grow at 11.1% CAGR by 2019

(IT-NEWSWIRE.COM, February 24, 2015 )

The smart grid networking platform consists of three segments: Hardware, Software, and Services. The Hardware segment includes cables, switches, in-home devices, and controllers. These devices are backed by networking software that comprises network performance monitoring management, IP address management, network traffic management, network device management, network configuration management, network security management, and other software. The hardware and software work in combination to facilitate features such as substation automation, distribution automation, energy management, real-time control, self-healing, and increased reliability and security. Smart grid networking systems enable analysis and mapping of energy consumption patterns of its customers, thus, helping in load forecasting and peak demand management, along with risk determination. They also help in avoiding power outages by providing detailed information about the functioning status of power system networks. They also have the ability to predict future energy demands by end-users such as homes, offices, and industries. The efficient implementation and management of smart grids largely depends on the capability to manage and act on the large amounts of network data, which can only be done with the help of smart grid networking systems.

Analysts forecast the Global Smart Grid Networking market to grow at a CAGR of 11.1 percent over the period 2014-2019.

Covered in this Report

Global Smart Grid Networking Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Global Smart Grid Networking market landscape and its growth prospects over the coming years. The report includes the segmentation of Global Smart Grid Networking market on the basis of type as well as geography. The report also includes a discussion of the key vendors operating in this market.

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Key Vendors

ABB
CISCO
Fujitsu
General Electric
Huawei

Other Prominent Vendors

Itron
Mitsubishi Electric
Schneider Electric
Siemens

Market Driver

Rise in Smart Grid Deployments

Market Challenge

Increased Fragmentation of Market

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Market Trend

Need for Better Energy Management

Key Questions Answered in this Report

What will the market size be in 2019 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?

RnR Market Research

Ritesh Tiwari

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Global Smart Grid Networking Market to Grow at 11.1% CAGR by 2019