The growing need of nations across the globe to reduce the cost of blackouts is driving the market for smart grids. The conventional electrical grids installed in many countries are now aging and this is causing massive electrical blackouts. Governments of many countries are incurring huge losses in order to maintain conventional electrical grids, owing to which they are now focusing on smart grid technologies.
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The market is primarily driven by the growing need of robust electrical supply technologies that cannot be interrupted. According to a study, power outages and blackouts costs nearly USD 80 billion annually in the United States. To reduce these costs, governments are continuously looking for new technologies which are more effective and efficient.
Some other factors the market desires include the characteristics of these technologies such as the ability to generate higher quality power and the fact that these are self correcting. However, the market is inhibited by huge initial capital required to set up these technologies and the lack of awareness amongst under developed countries.
Some of the leading companies operating in this industry segment are Alvarion Inc, Ambient Corp, American Superconductor Corp, Comverge Inc, and 3 M Company.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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