Smart Grid Market By Business Type, Technology, Size, Share, Trends, Opportunity
According to TechSci Research, The Global smart grid market is projected to grow at a CAGR of more than 10% over the period, 2023-2027. Increasing investment on infrastructure in various countries, economic growth, technology advancement and support of local competence and distribution centres across the globe is contributing towards the growth of the market during the forecast period. Government across the globe are focussing on implementation of smart grids and spreading awareness about energy conservation which is positively influencing the growth of the market. However, there are few challenges which act as a barrier in the growth of the market for global smart grid. One of them is the problem of low accessibility to electricity in underdeveloped nations. The global smart grid market is segmented based on type and geography. Based on geography, Asia-pacific dominated the market in 2021 as it has maximum deployment of smart meters on account of regulatory conditions and standa...