The global smart grid home area network market is expected to grow at a significant CAGR during the forecast period. HAN is a smart grid subsystem that is largely focused on demand-side management. A smart grid home area network is a combination of signal-controlled appliances, consumer electronics, and energy management equipment. This allows connected devices to send and receive signals from home management devices such as metres, displays, and thermostats.
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Electrical energy generation, which relies on fossil fuels, is the leading source of carbon dioxide emissions, followed by transportation, and is thus a substantial contribution to climate change. Electric systems have to be efficient and effective enough to preserve and decrease power consumption to meet the rising demand for electricity while also reducing environmental impact. Smart grid technologies provide a holistic approach to addressing the aforementioned issues. Demand response capabilities, as well as the ability to connect smart grid systems, are available to balance electricity use with supply.
Customer privacy and security is another aspect that might hamper the market’s expansion. Furthermore, rising energy prices and the development of more advanced conservation solutions are expected to boost the global smart grid home area network market. Additionally, the global smart grid home area network market is expected to grow due to increasing supply-side deployment of smart grid solutions, government initiatives towards energy management and smart cities, increasing wireless network connection speeds, and growing demand for cloud-based solutions will drive the growth of the global smart grid home area network market.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
Segment Covered-
- By Product Type
- By Solution Type
- By Application
- Competitive Landscape- Cisco Systems Inc., GE Energy, Honeywell Internation Inc., Silver Spring Networks, Tendril Networks.
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?
- Recovery Timeline
- Deviation from pre-COVID forecast
- 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?
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Global Smart Grid HAN Market by Segments
By Type
- Zigbee
- Home Plug
- Wireless
- M-Bus
- Others
By Application
- Apartments
- Villas
- Others
By Solution
- Hardware
- Software
- Services
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
