Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The "5G Smart grid Market - Forecasts from 2023 to 2028" report has been added to ResearchAndMarkets.com's offering.
The 5G smart grid market is expected to grow at a CAGR of 63.55% during the forecast period.
The demand for energy and the need to improve the efficiency and reliability of the power grid are driving the 5G smart grid market. 5G smart grid uses 5G network slicing technology to enable customized and differentiated 5G services for various power grid needs, such as high-speed, low-latency, and massive connectivity. It also employs 5G chipsets, routers, and platforms to support faster and more reliable data transmission and processing for various smart grid devices and applications.
The increasing investments in smart grids from the digital infrastructure sector provide a solid foundation for the growth of the 5G smart grid market. These investments have enabled the deployment of advanced infrastructure, accelerated the adoption of 5G technology, and enhanced the efficiency and resilience of energy distribution systems.
EMERGING OPPORTUNITIES FOR THE 5G SMART GRID MARKET
The 5G smart grid market is driven by the growing demand for energy and the need to enhance the performance and security of the power grid.
By application, the 5G smart grid market is segmented into power distribution automation and monitoring & inspection. The developments and initiatives in the power distribution automation and monitoring & inspection segments are crucial in driving advancements and improving the 5G smart grid market.
GEOGRAPHICAL PRESENCE
The global 5G smart grid market comprises some major countries undertaking measures to secure their 5G infrastructure. China is expected to witness a higher CAGR during the forecasted period.
Companies Mentioned
- Fibocom Wireless Inc.
- Telit
- Neoway Technology Co. LTD
- Honeywell International Inc.
- Huawei Technologies Co., Ltd.
- Enel Green Power S.p.A
SEGMENTATION
By Application
- Power Distribution Automation
- Monitoring & Inspection
By Deployment
- Transmission Lines
- Energy Storage Systems
By Geography
- Americas
- USA
- Others
- EMEA
- Germany
- UK
- Others
- APAC
- China
- Japan
- South Korea
- Others
For more information about this report visit https://www.researchandmarkets.com/r/pbifou
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