Global Smart Grid Managed Services Market to Grow at a CAGR of 53.25% during 2015
Smart grid managed services refer to the synchronization of various smart grid software and hardware technologies and their related operational services such as deployment of smart meters, advanced metering infrastructure (AMI), and integration of renewable energy to smart grid. These smart grid managed services are offered to various end-users such as Power industry, Utility industry, and independent power producers (IPPs).
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Smart grid managed service offers the two-way communication between utilities and their customers. The deployment of smart grid managed service requires a major operational change as it includes various advanced technologies into smart grids such as transmission and distribution automation technologies, wired and wireless communication technologies, high-voltage transmission lines, demand-response solutions, and home energy management applications.
“Smart grid technologies have started to develop various services and technologies such as service-based energy service and lighting controls,”
“Investment in R&D is expected to increase significantly during the forecast period because of increased need for energy-efficient smart grid systems that inflict minimal harm on the environment and cause less T&D losses.”
To define the market conditions in the next 3-4 years, our analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
Covered in this Report
The report covers the present scenario and the growth prospects of the Global Smart Grid Managed Services market for the period 2015-2018.
Global Smart Grid Managed Services Market 2015-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the APAC and EMEA regions; it also covers the Global Smart Grid Managed Services market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Governments worldwide have started to increasingly support the development of smart grids. Increased adoption of smart grids will lead to better efficiency among power plants. This would be enabled through reduction in T&D and power losses. Reduced T&D losses would help enhance the overall output of power plants and, therefore, help end-users manage their power consumption patterns judiciously through programs such as demand-response. The overall market is expected to grow at a CAGR of 53.25 percent during the forecast period of 2014-2019.