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Technavio’s market research analyst predicts the global smart grid managed services market to grow at a significant CAGR of around 45% by the end of the forecast period. The concept of smart grid managed services refers to synchronizing the software and hardware used to manage smart grids. It also includes operational services using smart meters and integrating energy sources with smart grids. The smart grid technology also helps end users in the utilities sector to communicate better. Since new technology in the form of smart grids is being set up, investments in grid-related equipment will be high on both the production and distribution sides.
Recently, it has been observed that governments from across the globe are focusing on the reduction of carbon emissions and are also striving to find cleaner sources of energy. Due to the advent of stringent government policies, the utilization of renewable energy has increased. Smart grid managed services play a major role in reducing waste and also to manage power requirements based on peak and non-peak times. The implementation of smart grid managed services will help to cut down on power outages, ensure a steady power supply, and bring down the total cost of power.
In this market research, analysts have estimated the DMS market segment to account for almost 45% of the total market share by 2020. A DMS integrates all the systems of the grid and acts as a decision support system. Its ability to take corrective measures, finds faults, and provide useful information to the operator to manage the grid more efficiently will lead to its augmented adoption during the forecast period. Furthermore, with the increasing focus on renewable energy installations and demand-response programs, the demand for DMS will witness a stark increase by 2020.
The global smart grid managed services market is dominated by the Americas, which accounts for about two-thirds of the overall market share. Adoption of smart meters and the upgradation of older systems are a couple of reasons behind the growth and domination of this region. Smart grids help providers to manage power demands during peak and non-peak hours and also helps them to improve the operational efficiency. Setting up smart grids also helps to cut down on carbon emissions.
The smart grid managed services market has a number of established vendors. In quite a few regions, local and regional vendors dominate the market, and large vendors have to deal with competitors. Large vendors have advantages like access to extensive capital and R&D funds, which allows them to develop new technologies.
Other prominent vendors in this market are Alcatel-Lucent, AT&T, EnerNOC, Ericsson, FirstCarbon Solutions, HCL Technologies, Infosys, Itron, Lockheed Martin, Tendril Networks, Trilliant Energy Services, and Wipro.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Geographical segmentation
PART 08: Key leading countries
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Key vendor analysis
PART 16: Appendix
PART 17: Explore Technavio
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