Smart Grid Global Trend 20252020-04-08 [12:12]
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Smart Meter Global Trend
Market report from Market Insights Reports forecasts that global smart meters market size will be expected to reach 13.77 billion by 2025 with at CAGR of 8.9% in the forecast period of 2020 to 2025 from 9.79 billion in 2019. Major players are included in the reports such as Landis+Gyr, Itron, Siemens, Itron, Elster Group, GE Digital Energy, and et cetra. (Source : Global Smart Meters market 2020 by manufactures to 2025)
Global Grid Market Size 2025
The global smart grid market size is expected to reach 94.7 billion by 2025 which can be ascribed to the increased implementation of smart grid technology to empower effectiveness in energy consumption and conservation is the key factor. The smart grids are the infrastructure to provide technologies that manage fault detection in energy distribution system which permits automatic self-improving of the network promptly after the power disturbances occur. Therefore, the smart grid authorizes the environment and the economy by servicing an efficient and reliable power supply by numerous smart grid technologies and applications.
Global Grid Market Size(Source : AdroitMarketResearch2019)
Increasing supportive government regulations & policies to implement smart meters and smart city drives are also the key factors pushing the growth of the worldwide smart grid market. For example, China, India, Japan, U.S. and other countries are financing in smart grid technology to support smart city initiatives. (Source: Smart Grid Technology Market)
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