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© 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Fuel Cell Market size worth $25.5bn by 2024 Low Power Wide Area Network Smart grid market to grow at 11% CAGR from 2019 to 2024: Global Market Insights, Inc.
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© 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com The U.S. smart grid market was estimated over USD 3 billion in 2017. Frequent blackouts and the incessant need for energy conservation will augment the industry landscape. Implementation of grid automation programs to reinforce communication flexibility and distributed intelligence of the national power infrastructure will further fuel the industry growth. For instance, the Public Service Electric and Gas Company (PSE&G) invested USD 69 million in 2017 to boost consumer energy efficiency through smart thermostat and residential data analytics programs. Ambitious government led plans toward grid modernization will drive the smart grid market size. Major countries have enforced regulations and mandates to reinforce smart grid deployments and R&D activities as a part of their energy conservation initiatives. In 2016, global investments in digital electricity infrastructure reached over USD 45 billion to enhance the resiliency, reliability, and security of the grid. Increasing government focus toward grid restructuring to mitigate integration challenges, overutilization, and load mismatch will further boost the industry growth. Overview of Smart grid market
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© 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Communication & wireless infrastructure smart grid market is predicted to expand over 20% by 2024. The ability of wireless based IoT equipped sensors to enhance grid monitoring capabilities will significantly encourage their adoption across power utilities. Growing implementation of advanced communication technologies to provide real time monitoring with customer load control will positively influence the industry scenario. End use systems, in 2017 accounted for over 30 % of the global smart grid market share. Transparent communication of consumption patterns, lower outage response duration, improved utilization of resources and high energy efficiency will sustain the product penetration across customer side systems. These systems facilitate utilities to proactively provide services and information to end users. UK smart grid market will witness growth on account of supportive regulatory frameworks pertaining to energy conservation and environmental sustainability. The mandated nationwide rollouts and legislative directives toward smart meters will further fuel the industry growth. The Energy Networks Association (ENA) plans to implement a local energy market as part of their smart grid plan that would allow business and households to trade electricity, thereby supporting energy conservation. Continue…
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© 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Browse Full Research Report On Smart grid market @ https://bit.ly/2vg2j97 Request for a sample of this research report @ https://bit.ly/2LEg2Mthttps://bit.ly/2LEg2Mt gminsights.com/request-toc/upcoming/1797
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© 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com China smart grid market is set to expand over 11% by 2024. Introduction of government initiatives to increase the share of renewables in the existing generation mix and develop green infrastructure will fuel the business growth. The government aims at increasing the share of renewables in the existing generation mix to 15% by 2020 and 20% by 2030. Europe smart grid market will witness growth on account of substantial investments toward smart meter roll outs owing to favorable energy and climate policies. The EU aims at replacing atleast 80% of electricity meters with smart meters by 2020. The ongoing integration of renewable energy into power grids is further creating significant growth prospects in the region. Continue…
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© 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Asia Pacific smart grid market is set to grow over 12 % by 2024. High T&D losses, rising electricity thefts, ageing grid infrastructure will entail significant deployment of smart grid across diverse utilities. Stringent regulatory requirements aimed at reducing carbon emissions and energy consumption will further boost the product demand. The State Grid Corporation of China (SGCC), which overlooks the electricity distribution in China has announced investment plans of over 100 billion toward the development of smart grid between by 2020. Key industry participants in the smart grid market include Hubbell, ABB, Schneider Electric, General Electric, Fujitsu General, Belden, Oracle Itron, Landis+Gyr, Cisco, Siemens, IBM, Honeywell Elster, Wipro. Continue…
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