London, 13 October 2014 – TechNavio has published a new market research report on the Global Smart Grid Managed Services Market 2014-2018, which is expecting a 53.25 percent CAGR over the projected period.
About the Report
The latest report by TechNavio focuses on a substantial increase in investments in smart grid technologies due to the power crisis and power losses during Transmission & Distribution (T&D) worldwide, which leads to reduced operational performance of power plants.
The report also highlights the increase in power consumption and T&D losses that results in lower power output from these plants, which has given rise to the adoption of smart grid systems.
“With a nationwide grid extension plan in place, China invested about US$4.3 billion in the smart grid technology, in 2013,” says Faisal Ghaus, Vice President of TechNavio.
“Europe was allocated a budget of around US$4.07 billion for smart grid systems, of which US$2.58 billion was allocated to 221 ongoing projects and US$1.49 billion was allocated to 238 completed projects. This is one of the major investments observed in this market.”
Key Information Covered in the Report:
Market segmentation, size and forecast through 2018
Market Growth Drivers:
- Increased Investment in Smart Grid Technologies
- For a full detailed list, view our report.
Market Challenges:
- High Cost of Upgrading Smart Grids
- For a full detailed list, view our report.
Market Trends:
- Increased Government Support for Smart Grid’s Development
- For a full detailed list, view our report.
Key Vendors:
- Accenture plc
- Capgemini S.A.
- IBM Corp.
- Siemens AG
Other Prominent Vendors:
- AT&T
- EnerNOC
- HCL Technologies
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
