Global Smart Power Distribution System Market growing at a CAGR of 14.2% from 2023 to 2030

Consegic Business Intelligence provided an inclusive research report on the smart power distribution system market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends. The services segment is predicted to register the fastest CAGR in the smart power distribution market during the forecast period. The installation and deployment of smart power distribution systems involve complex processes, including the physical installation of fiber optic cable assemblies, configuration, and network integration. Service providers offer specialized expertise and resources to ensure seamless deployment, efficient project management, and timely implementation. Additionally, smart power distribution systems require ongoing maintenance, monitoring, and support to ensure optimal performance. Service providers offer maintenance services to address issues namely firmware updates, meter calibration, and fault detection, and also provide support services, including troubleshooting, meter replacements, and customer assistance. Consequently, the aforementioned factors are responsible for accelerating the growth of the services segment during the forecast period.