Smart Grid Equipment in the US - Market Research 2015-2019
| Published: Oct 2015 | Pages: 76 | SKU: IRTNTR7093 |
Market outlook of smart grid equipment in the US
A smart grid uses computer-based automation technology to monitor and control power flows from the point of generation to consumption, enhancing predictability, visibility, and efficient management of the production and demand. The reduction in the reliance on foreign oil imports for energy consumption and the rise in concerns about greenhouse gas emissions is expected to drive the smart grid equipment market. Technavio’s market research analyst predict the smart grid equipment market in the US to witness a steady growth at a rate of around 9% during the forecast period.
The smart grid can aid in significantly reducing the cost incurred due to power disturbances. For instance, the annual cost of power disturbances in the US is around USD 100 billion. Real-time data monitoring by the use of advanced sensors and measurement techniques will enable the grid to detect, analyze and respond to peak load and adverse situations.
Segmentation by application and analysis of the smart grid equipment market in the US
- Software and hardware
- Smart transmission and distribution (T&D) equipment
- Smart meters
- Communication and wireless network infrastructure
- Sensors
This research report estimates the communication and wireless network infrastructure segment to dominate the smart grid equipment market and reach USD 9 billion by the end of 2019. The government support processes providing interoperability standards and the recent generation of wireless technologies such as RF Mesh, LTE, and WiMAX have provided great potential for the development of the smart grid communications.
Competitive landscape and key vendors
The commercialization of new technologies in the smart grid sector and the new installations in the T&D segment of the market is expected to intensify the competition among providers. Additionally, the augmented government support and investments in the market during the forecast period is expected to drive competition in the market over the next few years.
The top five vendors in the market are –
- ABB
- GE
- Landis Gyr
- Schneider
- Siemens
Growth drivers, challenges, and upcoming trends: Integration of renewable energy sources
Upcoming trends such as integration of renewable energy sources with the power grid network is gaining popularity as it helps to reduce the carbon footprint of the electric power system. For instance, in the US, the provisions under the Energy Independence and Security Act of 2007 and EPA programs stipulate the need to increase the share of renewable energy in the total energy mix. Such high rate of renewable energy production demands the need for adequate and reliable power transmission, which is provided by the smart grid.
This research report provides a number of factors contributing to the adoption, limitations, and opportunities of the smart grid equipment market in the US. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Key questions answered in the report include
- What will the market size and the growth rate be in 2019?
- What are the key factors driving the smart grid equipment market?
- What are the key market trends impacting the growth of the smart grid equipment market in the US?
- 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 vendors in the smart grid equipment market?
- What are the key outcomes of the five forces analysis of the smart grid equipment market in the US?
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Related reports
- Highlights
- Market overview
- Top vendor offerings
- Research methodology
- Economic indicators
- Key market highlights
- Market overview
- Technological overview
- Market size and forecast
- Some prominent smart grid projects in the US
- Five forces analysis
- Smart grid equipment market in US 2014-2019
- Smart grid equipment market in US by communication and wireless network infrastructure
- Smart grid equipment market in US by smart T&D equipment
- Smart grid equipment market in US by software and hardware technologies
- Smart grid equipment market in US by smart sensors and devices
- Smart grid equipment market in US by smart meters
- Competitive scenario
- Other prominent vendors
- ABB
- GE Digital Energy
- Landis+Gyr
- Schneider Electric
- Siemens Energy
- List of abbreviation
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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