Semiconductor

  Market Highlights The global smart power distribution system market is poised to touch a valuation of USD 43.58 billion by 2023, according to Market Research Future (MRFR). It stood at USD 19.71 billion in 2017. The market is driven by developments in grid infrastructure and inclination of governments towards renewable sources of energy. Government mandates and policies supporting the movement can augur well for the market from 2018 to 2023 (forecast period). Increasing consumer demand for uninterrupted power supply and high internet connectivity can spur the demand for smart power distribution systems. Integration of automation in industrial sectors to tackle power outage and optimize control of machines via remote-controlled switches can augur well for the global market. Development of smart cities can assist the smart power distribution system market to expand at a CAGR close to 14% over the forecast period. But high costs of installation can act as a market deterrent. Get a F...

  Market Overview MRFR asserts that the global smart power distribution system market 2020 size is expected to rise up to USD 43.58 billion till 2023. Moreover, the global smart power distribution system market is expected to expand in size at 14% CAGR from 2018 to 2023 (forecast period), as predicted by Market Research Future (MRFR).  Market Highlights Other factors that can affect  Smart Power Distribution System Market Share  growth are improvements in grid infrastructure, inclination towards renewable energy sources and knowledge among consumers to take steps to reduce the carbon footprint. Rising customer support for smart meters instead of developing cities is likely to spur market size for the smart power delivery network. Advancements in automation coupled with temperate climatic conditions faced by countries like Japan and the US may open up opportunities for market expansion in the years ahead. Integrating automation into industrial sectors to tackle p...