Dublin, Aug. 16, 2023 (GLOBE NEWSWIRE) -- The "Global Smart Grid Communications Market by Function (Command & Control, Communications, Surveillance & Reconnaissance), Technology (Wired, Wireless), Industry, End-User - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The Global Smart Grid Communications Market is experiencing remarkable growth, with an estimated size of USD 44.84 billion in 2022, which is projected to reach USD 175.28 billion by 2030, growing at a CAGR of 18.57% during the forecast period from 2023 to 2030.
This significant surge in market value has been driven by various factors, including the cumulative impact of COVID-19, the Russia-Ukraine conflict, and high inflation, as detailed in an ongoing research report.
The report analyzes the market dynamics, considering changes in consumer behavior, supply chain disruptions, and government interventions caused by the pandemic. Additionally, it sheds light on the ongoing political and economic uncertainty in Eastern Europe due to the Russia-Ukraine conflict, addressing its potential implications for demand-supply balances, pricing variants, import/export, and trading. Furthermore, the report examines the impact of high inflation on the global economy, providing insights into fiscal policies aimed at mitigating its effects on demand, supply, cash flow, and currency exchange.
Market Segmentation & Coverage:
The research report categorizes the Global Smart Grid Communications Market into various sub-markets to forecast revenues and analyze trends in each segment:
- Based on Function, the market is studied across Command & Control, Communications, and Surveillance & Reconnaissance, with the Command & Control segment projected to witness significant market share during the forecast period.
- Based on Technology, the market is studied across Wired and Wireless, with the Wired segment projected to witness significant market share during the forecast period.
- Based on Industry, the market is studied across BFSI, Energy & Utilities, Healthcare, IT & Telecom, Manufacturing, Public, Retail & Consumer Goods, and Transportation, with the Energy & Utilities segment projected to witness significant market share during the forecast period.
- Based on End-User, the market is studied across the Commercial Sector and Residential Sector, with the Residential Sector projected to witness significant market share during the forecast period.
- Based on Region, the market is studied across the Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas commanded the largest market share of 38.75% in 2022, followed by Europe, Middle East & Africa.
The report provides comprehensive insights into various aspects of the market, including Market Penetration, Market Development, Market Diversification, Market Trends, Competitive Assessment & Intelligence, and Product Development & Innovation.
Addressing Key Questions:
The report addresses several critical questions related to the Global Smart Grid Communications Market:
- What is the market size and forecast for the Global Smart Grid Communications Market?
- How have COVID-19 and geopolitical factors impacted the Smart Grid Communications Market during the forecast period?
- Which products/segments/applications/areas offer promising investment opportunities in the Global Smart Grid Communications Market?
- What is the competitive strategic window for opportunities in the Global Smart Grid Communications Market?
- What are the technology trends and regulatory frameworks shaping the Global Smart Grid Communications Market?
- What is the market share of leading vendors in the Global Smart Grid Communications Market?
- What modes and strategic moves are considered suitable for entering the Global Smart Grid Communications Market?
Market Dynamics:
The report delves into the key drivers, restraints, opportunities, and challenges influencing the Global Smart Grid Communications Market:
- Drivers: Rising need for careful analysis and better efficiency of smart grid, increasing focus on improving grid monitoring systems, and government investments for smart grid deployment.
- Restraints: High cost associated with the deployment and interoperability of standards.
- Opportunities: Upcoming smart cities projects in various regions and technological advancements in communications technologies.
- Challenges: Vulnerability to cyberattacks and breaches.
Concluding Thoughts:
The Global Smart Grid Communications Market presents exciting growth opportunities driven by technological advancements and the increasing adoption of smart grid systems worldwide. Industry stakeholders, investors, and decision-makers are encouraged to refer to the comprehensive research report to gain valuable insights into the market landscape, competitive strategies, and future technological developments.
Companies Mentioned
- ABB Ltd.
- Arteche Group
- Cisco Systems, Inc.
- CNIguard Ltd.
- Eaton Corporation PLC
- Emerson Electric Co.
- General Electric Company
- Itron, Inc.
- Mitsubishi Electric Corporation
- Oracle Corporation
- QinetiQ Group PLC
- Schneider Electric SE
- Siemens AG
- Tantalus Systems Corp.
- TE Connectivity
For more information about this report visit https://www.researchandmarkets.com/r/ihfqzo
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