Smart grid intends to modernize the power grid by using the latest technology that supports the utility to reduce the transmission and distribution loss. This can be achieved with the help of advanced metering infrastructure, software’s such as SCADA, DRM, DMS, MDMS, etc., and communication networks such as Wi-Fi, ZigBee, Z-Wave, etc.
According to a new market research report “Smart Grid Technology Market – Analysis & Global Forecast By Hardware, Software & Communication Network Technologies (2011 – 2016)” published by MarketsandMarkets the total smart grid technology and related application market is expected to reach $80.6 billion by 2016.
This research report categorizes the global smart grid technology market and its related applications market on the basis of different kinds of software’s that are being used for the smart grid network, smart meter, various smart sensor, communication network and geographical analysis; forecasting revenue, and analyzing trends in the market.
On the basis of geography
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Others
Asia-Pacific
Australia
China
Japan
Korea
India
Others
ROW
Middle East
Africa
Others
A smart grid is not just about installing smart meters across residential and commercial areas, but also about the ability to control the entire energy network. Setting up a communications network is equally essential for the smart grid network.
Countries like Australia, UK, France, Italy, and U.S. have the highest potential across all the geographies. The communication networks have high growth potential and the smart grid technology market size is expected to increase in the next five years.
For more information please, visit MarketsandMarkets



February 7th, 2012
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