This research report presents a comprehensive segmentation of the smart grid equipment market in the US by application type (software and hardware, smart T&D equipment, smart meters, communication and wireless network infrastructure, and sensors). The leading companies in the smart grid equipment market are ABB, GE, Landis Gyr, Schneider, and Siemens.
Technavio’s market research analysts estimate the smart grid equipment market in the US to grow at a CAGR of around 9% between 2015 and 2019. Factors such as reduced dependency on foreign oil imports for energy consumption and the rising concerns about greenhouse gas emissions are driving the smart grid equipment market.
The new market research report from Technavio provides a breakdown and analysis of the smart grid equipment segments by technology.
“Integration of renewable energy sources with the power grid network is gaining prominence as it helps to minimise the carbon footprint of the electric power system. High production rate of renewable energy has increased the demand for smart grids owing to the requirement for adequate and reliable power transmission. The provisions under the Energy Independence and Security Act of 2007 and EPA programs stipulate the need to increase the share of renewable energy in the total energy mix,” says Navin Rajendra, Lead Analyst, Energy, Technavio Research.
The communication and wireless network infrastructure segment dominates the smart grid equipment market, occupying more than 23% of the total market share. The government support processes providing interoperability standards and the recent generation of wireless technologies such as RF Mesh, LTE, and WiMAX have provided great potential for the development of the smart grid communications.
Smart grid equipment market in US by communication and wireless network infrastructure 2014-2019 ($ billions)
Source: Technavio Research
The key vendors in the smart grid equipment market in the US are ABB, GE, Landis Gyr, Schneider, and Siemens. The commercialization of new technologies in the smart grid sector and the new installations in the T&D segment of the market intensifying the competition among market vendors.
A more detailed analysis is available in the Technavio report, Smart Grid Equipment in the US – Market Research 2015-2019.
We can customize reports by other regions and specific segments upon request.
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