Rising Energy Demand Coupled with Increasing Share of Renewable Energy in the Power Generation Mix is driving the Offshore Wind Market
The global offshore wind market is projected to grow at a CAGR of 15.32% from 2017 to 2022. The growth of the offshore wind market is driven by increasing share of renewable energy in power generation, energy efficiency mandates demanding carbon emission reduction, and government incentives supporting renewable energy deployment. The global demand for electric power is increasing due to various factors...
Blockchain in Energy Market Growing at a CAGR of 78.32% from 2018 to 2023
Blockchain is revolutionizing almost every other industry. It is basically a database of transactions which is distributed among multiple computers. It is now gradually moving beyond financial services and cryptocurrencies, and is being touted as the next big thing in the energy sector. The blockchain applications are expected to decentralize the energy industry, reduce peer-to-peer transaction costs,...
Breaking Down the $19.98B Market for Smart Meters and Analysis Through 2022
The smart meters market is expected to grow from an estimated USD 12.79 Billion in 2017 to USD 19.98 Billion by 2022, registering a CAGR of 9.34% from 2017 to 2022. Smart meters are used in the industrial, commercial, and residential sector, measuring energy consumption of the consumers. Factors such as government policies & mandates in developed economies and accurate billing & improved customer...
Distribution Automation Market Size – Industry Share Report 2018-2023
The distribution automation market is estimated to grow at a CAGR of 7.29% from 2018 to 2023, to reach a projected market size of USD 16.81 billion by 2023. Distribution automation is a solution, which includes monitoring, protecting, controlling, and maintaining the distribution network. Distribution automation is mainly divided into two areas including distribution substation & feeder automation...