The global smart grid wide area network market is expected to grow at a significant CAGR during the forecast period (2024-2031). A smart grid is a self-contained electricity supply network that employs digital communications technology for supply chain control, monitoring, and analysis, as well as the ability to respond to network incidents remotely, thereby improving supply and relationships with the environment through a variety of smart grid applications and technologies. Several supportive legislation and regulations have been established by governments all over the world, with a focus on the construction of smart grids and the promotion of energy-saving awareness. These guidelines encourage the use of smart grid technologies in the industrial, commercial, and residential sectors.
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The American Recovery and Reinvestment Act of 2009 (Recovery Act) provided funding to the Department of Energy (DOE) for grid modernization. The Smart Grid Investment Grant (SGIG) program, which has invested $8 billion in 99 cost-shared projects aimed at modernizing electric grid infrastructure, strengthening cyber security, improving interoperability, and collecting unprecedented amounts of data on smart grid operations and benefits, has attracted more than 200 electric utilities and other organizations. Governments all around the world are putting in place supportive regulatory frameworks to encourage the adoption of smart grids, which will drive the smart grid WAN market to new heights.
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Market Coverage
- Segment Covered
- Regions Covered- Globally
Competitive Landscape: ABB Ltd., Cisco Systems, General Electric Co., Fujitsu Ltd., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Smart Grid Wide Area Network Market Report Segmentation
By Type
- Wired WAN
- Wireless WAN
By Application
- Commercial
- Education
- Government
- Others
Reasons to Buying From us –
1. We cover more than 15 major industries, further segmented into more than 90 sectors.
2. More than 120 countries are for analysis.
3. Over 100+ paid data sources mined for investigation.
4. Our expert research analysts answer all your questions before and after purchasing your report.
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