Sale

Smart Grid Market

Global Smart Grid Market Size, Share, Analysis, Forecast: By Component: Solution, Services; By Technology: Wired, Wireless; By Solution: Advance Metering Infrastructure, Smart Grid Distribution Management, Grid Asset Management, Others; By Application; By End-User; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032

Global Smart Grid Market Outlook

The global smart grid market size reached approximately USD 56.71 billion in 2023. The market is estimated to grow at a CAGR of 17.5% in the forecast period of 2024-2032, reaching a value of around USD 246.21 billion by 2032.

 

Key Trends in the Market

A smart grid is a digitally enabled grid infrastructure that utilises smart devices for electricity generation, transmission, and distribution. It uses a two-way communication network and enhances the energy efficiency of electricity generation to meet the growing requirements of consumers.

 

  • Increased utilisation of smart grid for the effective management and distribution of renewable energy such as solar, wind and hydrogen energy is one of the crucial smart grid market trends. These grids perform self-assessments regularly to address and resolve any service-related issues of renewable energy supply immediately.
  • Growing applications of smart microgrids in remote areas that require affordable electricity as well as in hospitals, data centres, military facilities, and other mission-critical infrastructure as a backup power source during main power outages is another prominent trend aiding the market expansion.
  • The deployment of advanced technologies such as AI and IoT for real-time monitoring and analysis of smart grid infrastructure also provides impetus to the smart grid market growth. Smart grid further leverages these technologies for the identification of patterns that can cause potential issues in the system to improve grid reliability.

 

Market Analysis

Based on component, the market is bifurcated into solution and services. On the basis of technology, the market is divided into wired and wireless. Based on solution, the market is classified into advance metring infrastructure, smart grid distribution management, grid asset management, smart grid network management, substation automation, and smart grid security, among others.

 

On the basis of application, the market is categorised into generation, transmission, distribution, and consumption. The smart grid market segmentation, based on end-user, includes residential, commercial, and industrial. The major regional markets of smart grid include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the smart grid market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

 

  • Siemens AG
  • ABB Ltd.
  • Schneider Electric SE
  • Honeywell International Inc. 
  • General Electric Company 
  • Cisco Systems, Inc. 
  • Eaton Corporation plc
  • ORACLE Corporation
  • Globema sp. z o.o. 
  • Trilliant Holdings Inc. 
  • Others

 

Market Share by End-User

The residential sector occupies a significant portion of the smart grid market share, owing to the increased integration of smart metres in residential areas to provide real-time metrics on electricity consumption. Smart grids also reduce the probability of blackouts in residential buildings as they can detect and isolate the power outage, preventing it from spreading on a large scale.

 

Meanwhile, the commercial sector is expected to gain robust growth in the forecast period, due to the growing demand for uninterrupted power supply in commercial spaces.

 

Market Share by Region

As per the smart grid market analysis, North America accounts for a substantial share of the global market, due to the increased investment in smart grid infrastructure. The growing popularity of electric vehicles in the region also offers lucrative market opportunities as EVs can be used for the absorption of excess power from the grids.

 

Subsequently, the Asia Pacific is expected to gain sizeable growth in the coming years, owing to the growing demand for electricity, coupled with the rising smart city projects in the region.

 

Competitive Landscape

Siemens AG, established in 1847, is a multinational technology corporation, with its headquarters in Munich, Germany. It offers its products and services in the aerospace, automotive manufacturing, chemical, distributors, power utilities, and transportation and logistics, among other sectors.

 

ABB Ltd., founded in 1988, is a global leader in electrification and automation, based in Zurich, Switzerland. The company promotes sustainability through its initiatives such as growing investments in energy-efficient technologies and solar plant automation solutions, among others.

 

Schneider Electric SE is a multinational energy management company which was originally incorporated as Schneider and Cie in 1836. The company, headquartered in Rueil-Malmaison, France, offers products such as push buttons, switches, UPS, contactors, and protection relays, among others.

 

Other smart grid market players include Honeywell International Inc., General Electric Company, Cisco Systems, Inc., Eaton Corporation plc, ORACLE Corporation, Globema sp. z o.o., and Trilliant Holdings Inc., among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Component
  • Technology
  • Solution
  • Application
  • End-User
  • Region
Breakup by Component
  • Solution
  • Services
Breakup by Technology
  • Wired
  • Wireless
Breakup by Solution
  • Advance Metering Infrastructure
  • Smart Grid Distribution Management
  • Grid Asset Management
  • Smart Grid Network Management
  • Substation Automation
  • Smart Grid Security
  • Others
Breakup by Application
  • Generation
  • Transmission
  • Distribution
  • Consumption
Breakup by End-User
  • Residential
  • Commercial
  • Industrial
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Siemens AG
  • ABB Ltd.
  • Schneider Electric SE
  • Honeywell International Inc. 
  • General Electric Company 
  • Cisco Systems, Inc. 
  • Eaton Corporation plc
  • ORACLE Corporation
  • Globema sp. z o.o. 
  • Trilliant Holdings Inc. 
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
  
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Smart Grid Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Smart Grid Historical Market (2018-2023) 
    8.3    Global Smart Grid Market Forecast (2024-2032)
    8.4    Global Smart Grid Market by Component
        8.4.1    Solution
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Services
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
    8.5    Global Smart Grid Market by Technology
        8.5.1    Wired
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Wireless
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Smart Grid Market by Solution
        8.6.1    Advance Metering Infrastructure
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Smart Grid Distribution Management
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Grid Asset Management
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Smart Grid Network Management
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Substation Automation
            8.6.5.1    Historical Trend (2018-2023)
            8.6.5.2    Forecast Trend (2024-2032)
        8.6.6    Smart Grid Security
            8.6.6.1    Historical Trend (2018-2023)
            8.6.6.2    Forecast Trend (2024-2032)
        8.6.7    Others
    8.7    Global Smart Grid Market by Application
        8.7.1    Generation
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Transmission
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Distribution
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Consumption
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
    8.8    Global Smart Grid Market by End-User
        8.8.1    Residential 
            8.8.1.1    Historical Trend (2018-2023)
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Commercial
            8.8.2.1    Historical Trend (2018-2023)
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Industrial
            8.8.3.1    Historical Trend (2018-2023)
            8.8.3.2    Forecast Trend (2024-2032)
    8.9    Global Smart Grid Market by Region
        8.9.1    North America
            8.9.1.1    Historical Trend (2018-2023)
            8.9.1.2    Forecast Trend (2024-2032)
        8.9.2    Europe
            8.9.2.1    Historical Trend (2018-2023)
            8.9.2.2    Forecast Trend (2024-2032)
        8.9.3    Asia Pacific
            8.9.3.1    Historical Trend (2018-2023)
            8.9.3.2    Forecast Trend (2024-2032)
        8.9.4    Latin America
            8.9.4.1    Historical Trend (2018-2023)
            8.9.4.2    Forecast Trend (2024-2032)
        8.9.5    Middle East and Africa
            8.9.5.1    Historical Trend (2018-2023)
            8.9.5.2    Forecast Trend (2024-2032)
9    North America Smart Grid Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
10    Europe Smart Grid Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023)
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Smart Grid Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023)
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023)
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Smart Grid Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Smart Grid Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price  
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Siemens AG 
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    ABB Ltd. 
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Schneider Electric SE 
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Honeywell International Inc. 
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    General Electric Company 
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Cisco Systems, Inc.  
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Eaton Corporation plc 
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    ORACLE Corporation  
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Globema sp. z o.o. 
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    Trilliant Holdings Inc. 
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    Others
16    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Smart Grid Market: Key Industry Highlights, 2018 and 2032
2.    Global Smart Grid Historical Market: Breakup by Component (USD Billion), 2018-2023
3.    Global Smart Grid Market Forecast: Breakup by Component (USD Billion), 2024-2032
4.    Global Smart Grid Historical Market: Breakup by Technology (USD Billion), 2018-2023
5.    Global Smart Grid Market Forecast: Breakup by Technology (USD Billion), 2024-2032
6.    Global Smart Grid Historical Market: Breakup by Solution (USD Billion), 2018-2023
7.    Global Smart Grid Market Forecast: Breakup by Solution (USD Billion), 2024-2032
8.    Global Smart Grid Historical Market: Breakup by Application (USD Billion), 2018-2023
9.    Global Smart Grid Market Forecast: Breakup by Application (USD Billion), 2024-2032
10.    Global Smart Grid Historical Market: Breakup by End-User (USD Billion), 2018-2023
11.    Global Smart Grid Market Forecast: Breakup by End-User (USD Billion), 2024-2032
12.    Global Smart Grid Historical Market: Breakup by Region (USD Billion), 2018-2023
13.    Global Smart Grid Market Forecast: Breakup by Region (USD Billion), 2024-2032
14.    North America Smart Grid Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    North America Smart Grid Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Europe Smart Grid Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Europe Smart Grid Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Asia Pacific Smart Grid Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Asia Pacific Smart Grid Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Latin America Smart Grid Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Latin America Smart Grid Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.    Middle East and Africa Smart Grid Historical Market: Breakup by Country (USD Billion), 2018-2023
23.    Middle East and Africa Smart Grid Market Forecast: Breakup by Country (USD Billion), 2024-2032
24.    Global Smart Grid Market Structure

Key Questions Answered in the Report

In 2023, the market reached an approximate value of USD 56.71 billion.

The market is projected to grow at a CAGR of 17.5% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 246.21 billion by 2032.

The major market drivers are the modernisation of the ageing grid, rising investment in electrical infrastructure, and growing demand for improving energy efficiency in different end-use sectors.

The key trends of the market include increased utilisation of smart grids for the effective management and distribution of renewable energy, growing applications of microgrids in remote areas and mission-critical infrastructure, and deployment of advanced technologies such as AI and IoT in the utility sector.

The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Various solutions of smart grid are advance metring infrastructure, smart grid distribution management, grid asset management, smart grid network management, substation automation, and smart grid security, among others.

The key players in the market are Siemens AG, ABB Ltd., Schneider Electric SE, Honeywell International Inc., General Electric Company, Cisco Systems, Inc., Eaton Corporation plc, ORACLE Corporation, Globema sp. z o.o., and Trilliant Holdings Inc., among others.

Purchase Full Report

Mini Report

$ 2199     $1799
  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

$ 3199     $2999
  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update
most popular

Five User License

$ 4199     $3999
  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

$ 5199     $4999
  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Any Question? Speak With An Analyst

Contact Analyst

View A Sample

Request Sample

Did You Miss Anything, Ask Now

Request Customisation
Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

NEWSLETTER