Country-niche players and regional players constitute ~55% and ~40% of competitors respectively despite the presence of about ~400 competitors, find a recent market study on the Global Smart Grid Market
A smart grid is an electrical system that uses cutting-edge digital and other technology to track and control the flow of electricity from all sources of generation to satisfy the various needs of end consumers. The needs and capabilities of all generators, grid operators, end users, and electricity market participants are coordinated by smart grids to operate every component of the system as effectively as possible, minimizing costs and environmental impacts while maximizing system dependability, resilience, flexibility, and stability.
Ken Research shares 3 key insights on this high-opportunity market from its latest research study.
Large Global Players Hold Around 45% of the Market Share Followed by Regional Players Holding ~30% of the Market Share
A comprehensive competitive analysis conducted during the Research Study found that the Global Smart Grid Market is competitive with ~400 players which include globally diversified players, and regional players, as well as a large number of country-niche players.
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According to the research, the Large Global Players held the dominant position in the market in 2021, in terms of the market share with about ~45% followed by regional players which account for ~30% of the market share.
Players are Increasingly Investing in the Smart Grid Industry which is Promoting the Market Growth.
Due to the presence of numerous local businesses, the market is moderately fragmented. These market participants are pursuing methods like investments, collaborations, acquisitions, and mergers to increase their market share. Additionally, businesses are investing in the creation of enhanced products. They are also concentrating on keeping their prices competitive.
Increased Adoption of Smart Grid in Various Parts of the World leading to Major Industry-Wide Developments, Acquisitions, and Deal-Wins
- In May 2021, Impact Solar, a Thai energy startup, collaborated with Hitachi ABB Power Grids to provide an energy storage solution for a privately owned microgrid. The Sriracha microgrid for Saha Industrial Park makes use of the battery energy storage and control equipment from Hitachi ABB Power Grids.
- In November 2021, Dutch Rectifiers B.V. is acquired by Schneider Electric for DC Systems B.V. The company is headquartered in the Netherlands and is a start-up with a focus on active AC/DC microgrids, DC power conversion, and a wide range of DC solutions.
Schneider Electric is streamlining its portfolio with the acquisition of DC Systems to give customers more convenience and resilience for pertinent applications like constructing microgrids in uncertain public grid situations or remote applications like public lighting.
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Key Topics Covered in the Report
- Snapshot of the Global Smart Grid Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Smart Grid Market
- Historic Growth of the Overall Global Smart Grid Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Smart Grid Market
- Overview, Product Offerings, and SWOT Analysis of Key Competitors
- COVID-19 Impact on the Overall Global Smart Grid Market
- Future Market Forecast and Growth Rates of the Total Global Smart Grid Market and by Segments
- Market Size of Component / Technology Segments with Historical CAGR and Future Forecasts
- Analysis of the Smart Grid Market in Major Regions
- Major Production / Consumption Hubs in the Major Regions
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Country
Major Players Mentioned in the report
- General Electric
- Schneider Electric
- ABB Ltd
- Siemens
- Itron, Inc.
- Cisco Technology Company
- Aclara Software Inc
- OSI Systems
- Oracle
- Wipro
- IBM
Notable Emerging Companies Mentioned in the Report
- Iberdrola
- Saudi Electricity
- Eurogrid
- Städtische Werke Magdeburg
- Parabel
- Ningbo Sanxing Medical Electric Co., Ltd.
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Electricity Smart Grid Manufacturers
- Water Smart Grid Manufacturers
- Component Suppliers for
- Electronic Equipment Manufacturers
- Steel and Iron Manufacturers
- Government Ministries and Departments of Energy
- Electricity Smart Grid Investors
- Artificial Intelligence Companies
- Energy & Power Regulatory Authorities
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
For more insights on the market intelligence, refer to the link below: –
Global Smart Grid Market: Ken Research
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