According to the report released by Market Research Institute Zion research, the global smart grid market value in 2014 was about US $40 billion, which is expected to reach US $120 billion by 2020, and the annual compound growth rate from 2015 to 2020 is slightly higher than 18%.

Smart grid is an innovative distribution technology, which helps to control the production and distribution of power safely, efficiently and effectively. Electronic control, measurement and monitoring are the main aspects of smart grid. The smart grid includes several instruments and appliances that work together to check the current. Smart grid can effectively measure and balance the power supply and demand of interconnected equipment in remote areas. Smart grid is a very useful system for power distribution, which is used to collect, store and process huge data.

Power loss in the process of transmission and distribution is still a key concern in the Asia Pacific region. Smart grid provides effective and efficient distribution with minimum loss in the transmission process. This is one of the most important drivers of smart grid growth. In addition, changes in government policies and regulations in emerging economies are also expected to drive the growth of the smart grid market. Higher reliability, security and efficiency are also expected to promote the development of the global smart grid market. However, the high installation cost is expected to hinder the development of the smart grid market to a certain extent.

When the development of smart grid is in progress, it is expected to reach 120 billion US dollars by 2020

Advanced metering infrastructure, distribution automation, software and hardware, communication technology, transmission upgrading and network security are key technologies in the global smart grid market. Distribution automation is one of the largest technical fields, accounting for the largest share of the total revenue of the smart grid market in 2014. Advanced metering infrastructure is the second largest area of the smart grid market. Transmission upgrading is another important technology. Due to effective and reliable installation and distribution in remote areas, this technology is expected to achieve significant growth in the next few years.

The smart grid market is dominated by the Asia Pacific region, accounting for about 30% of the global total revenue in 2014. Strong demand from the rapid industrialization of emerging economies such as China and India is the main driving force for the growth of smart grid market in the region. North America is the second largest smart grid market. Europe, Latin America, the Middle East and Africa are other important regional markets in the smart grid industry and are expected to grow further in the next few years.

The main participants in the global smart grid market include aclara, Alstom, Conway, emeter, GRIDPOINT, Landis + Gyr, Schneider Electric, Siemens, etc.

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