ReportsnReports.com adds Global Smart Grid Managed Services Market 2016-2020 latest research report, the analysts forecast global smart grid managed services market to grow at a CAGR of 44.51% during the period 2016-2020.
According to the 2016 smart grid managed services market report, the increase in population and rise in power consumption have triggered the demand for power across different geographies. T&D losses, increased demand for power, and demand-supply mismatch have led to a huge power crisis worldwide. To curtail this, countries such as the US, China, India, and the UK have started adopting smart grid technology, which reduces the T&D losses and effectively balances the demand and supply of electricity. Consequently, the investments in smart grid technologies have increased and propelled the growth of the global smart grid managed services market.
The global smart grid managed services market analyst said deployment of smart grids is increasing at a rapid pace worldwide, with countries such as China, the US, India, Spain, Germany, and France enforcing ambitious smart grid plans. Smart grids include grid applications such as smart energy meters, SCADA systems, IT, and other communication networks. These devices enable utilities to have complete control and manage the digital assets that are present in the field. Order a copy of Global Smart Grid Managed Services Market 2016-2020 report @ http://www.reportsnreports.com/Purchase.aspx?name=521085.
Application-based Segmentation and Analysis of the Smart Grid Managed Services Market - Energy management systems (EMS), Distribution management systems (DMS) and Data Analytics
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.
Geographical Segmentation and Analysis of the Smart Grid Managed Services Market – Americas, APAC and EMEA
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 help 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.
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Key players in the smart grid managed services market: Accenture Plc, Capgemini SA, GE-Alstom, IBM Corp., and Siemens Corp.
Other prominent vendors in the market are: Alcatel-Lucent US, AT&T, EnerNOC, Ericsson, FirstCarbon Solutions, HCL Technologies, Infosys, Itron, Lockheed Martin, Tendril Networks, Trilliant Energy Services, and Wipro.
Further, the report states that high cost of upgrading smart grids is expected to have a significant impact on the growth of the global smart grid managed services market in the future.
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