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Follow on Google News | Smart Grid Market is Expected to Reach $169.18 Billion, Globally by 2025Rise in concerns regarding environmental protection, growth in adoption of smart grid technology to improve efficiency in energy conservation and consumption, supportive government policies
The solution segment accounted for more than three-fourths of the total revenue in 2017 and will maintain its dominance by 2025. However, the services segment is expected to register the highest CAGR of 13.9% from 2017 to 2025. North America region accounted for more than two-fifths of the market in terms of revenue in 2017. However, the Asia-Pacific region is expected to grow at the highest CAGR of 16.1% during the forecast period. The research also analyzes regions including Europe and LAMEA. Get Sample Report for More Details @ https://www.alliedmarketresearch.com/ The smart grid communications segment is expected to register the highest CAGR of 16.8% from 2017 to 2025. However, the substation automation segment accounted for more than one-fourth of the total revenue in 2017 and will maintain its dominance by 2025. The transmission segment accounted for more than one-third of the total revenue in 2017 and will maintain its dominance by 2025. However, the distribution segment is expected to register the highest CAGR of 15.7% from 2017 to 2025. The residential segment is expected to register the highest CAGR of 14.7% from 2017 to 2025. However, the commercial segment accounted for nearly half of the total revenue in 2017 and will maintain its dominance by 2025. The key market players explored in the research include Wipro Limited, Cisco Systems, Inc., Tech Mahindra Limited, General Electric, Siemens, Honeywell International Inc, Schneider Electric, International Business Machines Corporation (IBM), and Itron Inc., Oracle, They have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the global industry. End
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