DALLAS, USA: According to new research report "Smart Grid Networking Market by Hardware (Cables, Controllers, Routers, Smart Meter Com Module, Switches), by Software (Network Management: Performance, IP, Device, Security, Configuration), by Services, & by Regions - Global Forecast & Analysis (2014 - 2019)", published by MarketsandMarkets, defines and segments the global smart grid networking market into various sub segments with an in-depth analysis and forecasting of market sizes.
The report also identifies the factors driving this market, various restraints, and opportunities impacting it along with the adoption trends.
Smart grid networking deployments by utility operators helps them to enable two-way communications between different components of electricity transmission and distribution grids. Smart grids networking solutions collects critical data, analyze the data, manage it and monitor the flow of data to keep check on the performance of computer networks.
This in turn, helps the utility operator in decision making for an instance a well-managed grid utilization data helps in forecasting the expected electricity demand during peak hour from different end-users such as, residential, commercial and industrial. One of the major restraints faced by the players in this space is different regulatory frameworks imposed by different governments.
MarketsandMarkets forecasts the global smart grid networking market to grow from $7.12 billion in 2014 to $11.61 billion by 2019, at a CAGR of 10.3 percent. In terms of regions, NA is expected to be the biggest market in terms of market size, whereas MEA and LA are expected to experience increased market traction during the forecasted period.