Smart grid networking enables two-way communication between various elements of a utility grid. This further allows quality network management through communication between the network elements to monitor information from the various stages such as power transmission, generation, and distribution. Smart grid networking systems enable analysis and mapping of energy consumption patterns of its customers, thus, helping in load forecasting and peak demand management, along with risk determination. These also have the ability to predict future energy demands by end-users such as homes, offices, and industries.
Rise in smart grid deployments is a major factor driving growth of the global smart grid networking market
Rise in smart grid deployments is a major factor driving the growth of the global smart grid networking market. In addition, increasing awareness among consumers about the advantages of smart grid networking, push for interoperability and standardization, and reliability upon public cellular networks for grid communication are some other factors boosting demand for smart grid networking in the global market.
However, high ownership costs, lack of better energy management, and increase in fragmentation of the market are major factors expected to act as restraints to the growth of the global smart grid networking market during the forecast period.
The global smart grid networking market is segmented on the basis of hardware, software, service, and region. On the basis of hardware, the global smart grid networking market is segmented into controllers, cables, smart meter communication modules, routers, switches, and other hardware. On the basis of software, the global smart grid networking market is segmented into IP address management, network performance monitoring management, network device management, network traffic management, network security management, network configuration management, and other software. On the basis of services, the global smart grid networking market is segmented into network planning, consulting, network risk and security assessment, design and integration, support services, network maintenance, and other services. On the basis of region, the global smart grid networking market is segmented into North America, Asia Pacific, Middle East, and Europe.
North America accounts for highest revenue contribution to the global smart grid networking market. However, push for interoperability and standardization are factors boosting market growth in countries in Asia Pacific such as India, China, and Japan.
Top players in global M2M satellite communication market include Cisco, ABB, Fujitsu, Mitsubishi Electric, Huawei, GE, Siemens AG, Schneider Electric, and IBM.