Smart Grid Market Worth USD 83.81 Billion by 2022

CHICAGO --- According to the new market research report, "Smart Grid Market, by Solution (Distribution Management System (DMS), Meter Data Management System (MDMS), Demand Response Management (DRM), Supervisory Control and Data Acquisition (SCADA)), Service (Implementation, Consulting, Repair & Maintenance), Sensor (Transformer Monitoring, Voltage, Dynamic Line Rating, Home Area Network), End-User (Industrial, Commercial, Energy & Utility and Residential Sector) - Global Revenue, Trends, Growth, Share, Size and Forecast to 2022", published by Scalar Market Research, the smart grid market is expected to grow from USD 39.84 billion in 2016 and reach USD 83.81 billion in 2022, growing at an estimated CAGR of 13.20% during the forecast period.

The global smart grid market report offers in-depth analysis of the market size (revenue), market share, major market segments, different geographic regions, key players, premium trends, technology roadmap and forecast to 2022. It also focuses on the key drivers and opportunities in this market.

Key findings of the report:

• Emergence of advanced smart grid technologies is one of the primary driving factors for the growth of the global smart grid market.
• Strong emphasis on energy efficiency and energy conservation are also expected to create major growth opportunities for the smart grid market, during the forecast period.
• The lowered costs of networking technologies & devices and favorable government policies are also expected to drive the demand patterns in the smart grid market in the near future.

Asia-Pacific is expected to be the leading region in the smart grid market

According to the report, the Asia-Pacific region is expected to dominate the smart grid market during the forecast period. The rising demand from the countries like China and India is expected to be the major driving factor for this market in the Asia-Pacific region. On the other hand, the increasing government initiatives are expected to drive the growth of the smart grid market in the North America region.

The key players enlisted in the smart grid market report include:
•Aclara Technologies, LLC.
•Alstom Ltd.
•Comverge, Inc.
•Itron, Inc.
•Schneider Electric SE
•Schweitzer Engineering Laboratories, Inc.
•Sensus USA, Inc.
•Siemens AG
•Silver Spring Networks

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