Smart Grid Market Size, SWOT Analysis, Key Indicators, Industry Trends and Forecast 2029
The smart grids basically include three major modules such as automated control systems, communication technologies, and distributed intelligence. It will be important for accelerating the improvement and widespread usage of plug-in hybrid electric vehicles and their potential use as storage for the grid.
Data Bridge Market Research analyses that the Smart Grid Market was valued at USD 43.1 billion in 2021 and is further estimated to reach USD 174.02 billion by 2029, and is expected to grow at a CAGR of 19.06% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Global Smart Grid Market Scope and Market Size
The smart grid market is segmented on the basis of solution, service, deployment mode, subsystem and security type. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Solution
- Firewall
- Identity and Access Management (IAM)
- Antivirus/Antimalware
- Encryption
- Security and Vulnerability Management (SVM)
- Intrusion Detection System/Intrusion Prevention System (IDS/IPS)
- Distributed Denial of Service (DDOS)
- Others
On the basis of solution, the smart grid market is segmented into firewall, identity and access management (IAM), antivirus/antimalware, encryption, security and vulnerability management (SVM), intrusion detection system/intrusion prevention system (IDS/IPS), distributed denial of service (DDOS) and others.
Service
- Professional
- Managed Services
On the basis of service, the smart grid market is segmented into professional and managed services.
Deployment Mode
- On-Cloud
- On-Premise
On the basis of deployment mode, the smart grid market is segmented into on-cloud and on-premise.
Subsystem
- Supervisory Control
- Data Acquisition/Industrial Control System (SCADA/ICS
- Advanced Metering Infrastructure (AMI)
- Demand Response and Home Energy Management
On the basis of subsystem, the smart grid market is segmented into supervisory control and data acquisition/industrial control system (SCADA/ICS), advanced metering infrastructure (AMI), demand response and home energy management.
Security Type
- Endpoint Security
- Network Security
- Application Security
- Database Security
On the basis of security type, the smart grid market is segmented into endpoint security, network security, application security and database security.
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The countries covered in the smart grid market report are U.S., Canada, and Mexico in North America, Brazil, Argentina, and the rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
Some of the major players operating in the smart grid market are:
Intel Corporation (US), Siemens (US), NortonLifeLock Inc. (US), IBM Corporation (US), Cisco Systems, Inc. (US), Leidos (US), Honeywell International Inc. (US), BAE Systems (UK), N-Dimension Solutions Inc. (Canada), AlertEnterprise Inc. (US), IOActive Inc. (US), Lockheed Martin Corporation (US), Sophos Ltd. (US), Sourcefire (US), Eaton (Ireland), ABB (US), Enphase Energy (US), Landis+Gyr (Switzerland), S&C Electric Company (US), STEMROBOTM Technologies Pvt Ltd. (India)
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