Market Insight: Smart Grid Networking Market is Expected to Grow with a CAGR of 25% from 2019 to 2024

Lucintel has announced the launch of a market research report entitled “Growth Opportunities in the Global Smart Grid Networking Market 2019-2024”.

This market report for smart grid networking identifies and predicts future opportunities for growth in the smart grid networking market for various segments and for the various regions of North America, Europe, Asia Pacific, and the Rest of the World. It also identifies growth opportunities for smart grid networking in the industrial and commercial markets.

According to our market report, the smart grid networking market is expected to grow with a CAGR of 25% from 2019 to 2024. Some of the dominant players in the smart grid networking market are ABB, CISCO, Mitsubishi Electric, Fujitsu, General Electric, Huawei, Itron, Schneider Electric, Siemens AG, Silver Spring Networks, and others.

In the smart grid networking market, advanced metering infrastructure (AMI), distribution management system, network management system, and grid asset management are the major technology types. The major drivers for this market are growing peak hours demand for electricity, increasing share of renewable energy in electricity, limitations in capacity expansion, and increasing environmental concerns.

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