London, 13 July 2015 – Technavio, a tech-focused research firm, has published a new report on the global smart grid wide area network (WAN) market, which is expected to grow at a CAGR more than 10% from 2015-2019.
According to the latest report by Technavio, global annual investment in smart grids has increased in recent years. There have been several large-scale projects for smart grid development undertaken by global companies such as ABB and GE. The emergence of these grids is facilitating the growth of several communication technologies.
“Smart grid communication technology should account for a considerable share in the smart grid sector, which is growing rapidly. Smart grids not only aid in energy management but also save electricity that is often lost in transmission and distribution networks,” says Faisal Ghaus, Vice President of Technavio.
The new Technavio report also emphasizes governments around the world that are focusing on the smart grid sector.
“Since 2009, governments have begun to implement numerous grants and policies for the growth of this sector. Governmental bodies and organizations in the US have already been encouraging the smart grid sector in North America,” says Ghaus.
https://www.technavio.com/%3Cp%3E%3Cstrong%3E%3Ca%20href%3D%22http%3A//ww…
