Smart Grid Market by Component (Software, Hardware, Services), Application (Generation, Transmission, Distribution, Consumption), Communication Technology (Wireline, Wireless), & Region(North America, Europe, APAC, ROW) - Global Forecast to 2029
The smart grid market is estimated to grow from USD 185.0 billion by 2029 from an estimated USD 71.8 billion in 2024, at a CAGR of 20.8% during the forecast period. Innovation in technology and a rise in smart grid installations are two main drivers of the smart grid industry's expansion. These days, smart grid are more and more common in the grid market because of their reliability, and efficient outage response. The smart grid market is expected to grow because of the focus on modernization of aging grid infrastructure .
“Software segment is the largest segment of the smart grid market, by component”
Based on component, the smart grid market has been split into three types: software, hardware, and services. The increase in intelligent utility grids installations and the world's transition to reduce unplanned downtime and production cost are driving growth in the smart grid market's software segment. Grid Operators are encouraged to invest in smart grid systems by government ensure effective management of smart grid operations, improve process efficiency, and reduce energy production costs.
“Transmission is expected to emerge as the fastest-growing segment based on application segment”
Based on application, the smart grid market has been segmented into generation,transmission, Distribution and consumption . The smart grid market's transmission segment is expanding at the fastest pace because it is in line with the changing energy landscape. An efficient automated transmission network can carry energy from bulk generation facilities to power distribution systems when required. Transmission of power from the generating station to the distribution system has appropriate communication interfaces with the effective participation of the system operator.
“Europe is expected to emerge as the Second largest region based on Smart grid market”
By region, the smart grid market has been segmented into Asia Pacific, North America, South America, Europe, and Middle East & Africa. In the region, the smart grid market is expanding in Europe because of the region's rapid economic expansion, growing industrialization, and strong emphasis on the efficient energy utilization. With their aggressive clean energy goals, nations like UK, Germany, and France are driving the market and creating demand for Smart grid for their grid projects. The region's supremacy is a result of rapid urbanization, rising electrification, and government measures encouraging sustainable technologies. Demand for smart grid installations is also fueled by Europe's expanding energy class. The region is positioned as a key player in the global smart grid market thanks to its aggressive dedication to energy solutions.
“Wireline is expected to be the largest segment based on communication technology”
The wireline is the largest segment in the market as it is comparatively cost efficient and this type of transmission is less prone to third-party intrusions and interruptions. Wireline communication, encompassing fiber optic, Ethernet, and powerline carriers, dominates smart grid communication technology due to its high performance, reliability, and extensive coverage. Fiber optic technology, favored for distribution automation and substation use, supports high bandwidth and speeds up to 10 Gbps with single wavelength and up to 1,600 Gbps using WDM, making it the largest segment in the market.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 45%, Tier 2- 30%, and Tier 3- 25%
By Designation: C-Level- 35%, Director Levels- 25%, and Others- 40%
By Region: North America- 27%, Europe- 20%, Asia Pacific- 33%, the Middle East & Africa- 12%, and South America- 8%
Note: Others include product engineers, product specialists, and engineering leads.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2021. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
The smart grid market is dominated by a few major players that have a wide regional presence. The leading players in the smart grid market are General Electric Company (US), ABB (Switzerland), Siemens (Germany), Schneider Electric (France), and Itron (US)
Research Coverage:
The report defines, describes, and forecasts the smart grid market, by component, application, communication technology, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the smart grid market.
Key Benefits of Buying the Report
“Software segment is the largest segment of the smart grid market, by component”
Based on component, the smart grid market has been split into three types: software, hardware, and services. The increase in intelligent utility grids installations and the world's transition to reduce unplanned downtime and production cost are driving growth in the smart grid market's software segment. Grid Operators are encouraged to invest in smart grid systems by government ensure effective management of smart grid operations, improve process efficiency, and reduce energy production costs.
“Transmission is expected to emerge as the fastest-growing segment based on application segment”
Based on application, the smart grid market has been segmented into generation,transmission, Distribution and consumption . The smart grid market's transmission segment is expanding at the fastest pace because it is in line with the changing energy landscape. An efficient automated transmission network can carry energy from bulk generation facilities to power distribution systems when required. Transmission of power from the generating station to the distribution system has appropriate communication interfaces with the effective participation of the system operator.
“Europe is expected to emerge as the Second largest region based on Smart grid market”
By region, the smart grid market has been segmented into Asia Pacific, North America, South America, Europe, and Middle East & Africa. In the region, the smart grid market is expanding in Europe because of the region's rapid economic expansion, growing industrialization, and strong emphasis on the efficient energy utilization. With their aggressive clean energy goals, nations like UK, Germany, and France are driving the market and creating demand for Smart grid for their grid projects. The region's supremacy is a result of rapid urbanization, rising electrification, and government measures encouraging sustainable technologies. Demand for smart grid installations is also fueled by Europe's expanding energy class. The region is positioned as a key player in the global smart grid market thanks to its aggressive dedication to energy solutions.
“Wireline is expected to be the largest segment based on communication technology”
The wireline is the largest segment in the market as it is comparatively cost efficient and this type of transmission is less prone to third-party intrusions and interruptions. Wireline communication, encompassing fiber optic, Ethernet, and powerline carriers, dominates smart grid communication technology due to its high performance, reliability, and extensive coverage. Fiber optic technology, favored for distribution automation and substation use, supports high bandwidth and speeds up to 10 Gbps with single wavelength and up to 1,600 Gbps using WDM, making it the largest segment in the market.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 45%, Tier 2- 30%, and Tier 3- 25%
By Designation: C-Level- 35%, Director Levels- 25%, and Others- 40%
By Region: North America- 27%, Europe- 20%, Asia Pacific- 33%, the Middle East & Africa- 12%, and South America- 8%
Note: Others include product engineers, product specialists, and engineering leads.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2021. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
The smart grid market is dominated by a few major players that have a wide regional presence. The leading players in the smart grid market are General Electric Company (US), ABB (Switzerland), Siemens (Germany), Schneider Electric (France), and Itron (US)
Research Coverage:
The report defines, describes, and forecasts the smart grid market, by component, application, communication technology, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the smart grid market.
Key Benefits of Buying the Report
- Increasing investments in smart energy sector and rising number of Improved grid reliability and efficient outage response attributed.
- Product Development/ Innovation: The trends such as ERT Meter Reading, Power Line Carrier (PLC) Migration and real time monitoring.
- Market Development: The global scenario of smart grid has developed due to a global shift towards sustainable energy solutions, increased adoption of renewable sources like solar and wind power, technological advancements enhancing efficiency, and the growing demand for electric vehicles. These factors collectively propel innovation, creating a dynamic landscape for inverter technologies to meet evolving energy demands.
- Market Diversification: Market diversification in the smart grid market is a response to varied energy needs across industries and regions. As renewable energy adoption expands, diverse applications emerge, from power station to utility-scale projects. Smart grid manufacturers diversify their product offerings to cater to the specific requirements of different sectors, fostering market growth and resilience.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like General Electric Company (US), ABB (Switzerland), Siemens (Germany), Schneider Electric (France), and Itron (US)among others in the Inverter market.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
1.3.2 INCLUSIONS AND EXCLUSIONS
1.3.3 REGIONAL SCOPE
1.3.4 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 UNITS CONSIDERED
1.6 LIMITATIONS
1.7 STAKEHOLDERS
1.8 SUMMARY OF CHANGES
1.9 RECESSION IMPACT
2 RESEARCH METHODOLOGY
2.1 RESEARCH APPROACH
2.2 DATA TRIANGULATION
2.3 PRIMARY AND SECONDARY RESEARCH
2.3.1 SECONDARY DATA
2.3.1.1 Key data from secondary sources
2.3.1.2 List of key secondary sources
2.3.2 PRIMARY DATA
2.3.2.1 Key data from primary sources
2.3.2.2 Key industry insights
2.3.2.3 List of major primary interview participants
2.3.2.4 Breakdown of primaries
2.4 MARKET SIZE ESTIMATION
2.4.1 BOTTOM-UP APPROACH
2.4.2 TOP-DOWN APPROACH
2.4.3 DEMAND-SIDE ANALYSIS
2.4.3.1 Regional analysis
2.4.3.2 Country-level analysis
2.4.3.3 Assumptions for demand-side analysis
2.4.3.4 Calculations for demand-side analysis
2.4.4 SUPPLY-SIDE ANALYSIS
2.4.4.1 Assumptions for supply-side analysis
2.4.4.2 Calculations for supply-side analysis
2.4.5 FORECAST
2.5 RISK ANALYSIS
2.6 RESEARCH ASSUMPTIONS
2.7 RESEARCH LIMITATIONS
2.8 IMPACT OF RECESSION
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SMART GRID MARKET
4.2 SMART GRID MARKET, BY REGION
4.3 SMART GRID MARKET IN NORTH AMERICA, BY COMMUNICATION TECHNOLOGY AND COUNTRY
4.4 SMART GRID MARKET, BY OFFERING
4.5 SMART GRID MARKET, BY COMMUNICATION TECHNOLOGY TYPE
4.6 SMART GRID MARKET, BY END-USE APPLICATION
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Growing government-led initiatives to deploy smart grids
5.2.1.2 Rising use of renewable sources in power generation
5.2.1.3 Growing utilization of advanced technology for tracking and mitigating greenhouse gas emissions
5.2.1.4 Increasing emphasis on modernization of aging grid infrastructure
5.2.1.5 Presence of traditional business models in utilities sector
5.2.2 RESTRAINTS
5.2.2.1 High installation cost of smart grids
5.2.2.2 Low awareness of protocols and interoperability standards
5.2.3 OPPORTUNITIES
5.2.3.1 Growing focus on smart city projects in developing countries
5.2.3.2 Rising demand for plug-in electric vehicles
5.2.3.3 Increasing adoption of cloud-based systems
5.2.4 CHALLENGES
5.2.4.1 Generation of complex data
5.2.4.2 Vulnerability to cyber threats
5.2.4.3 Delayed return on investment
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
5.4 VALUE CHAIN ANALYSIS
5.5 ECOSYSTEM ANALYSIS
5.6 CASE STUDY ANALYSIS
5.6.1 EATON ASSISTED FLORIAN HOTEL WITH BUILDINGS AS GRID THAT ENHANCED ENERGY RESILIENCE
5.6.2 EQUS COLLABORATED WITH SCHNEIDER ELECTRIC TO IMPLEMENT SMART GRID SOLUTION THAT OFFERED ENHANCED GRID TRANSPARENCY AND IMPROVED OUTAGE RESPONSE TIMES
5.6.3 WIPRO ASSISTED PUBLIC UTILITY COMPANY IMPLEMENT ANALYTICS SOLUTIONS THAT EASED ASSET CONDITIONING MONITORING AND IMPROVED CUSTOMER SERVICES
5.7 INVESTMENT AND FUNDING SCENARIO
5.8 TRENDS IN DIGITALIZATION
5.8.1 ELECTRIFICATION AND DIGITALIZATION
5.8.2 AI AND SMART GRID TECHNOLOGY PENETRATION
5.8.3 ENERGY AS A SERVICE (EAAS)
5.8.4 DISTRIBUTION SYSTEM DIGITALIZATION
5.9 TECHNOLOGY ANALYSIS
5.9.1 KEY TECHNOLOGIES
5.9.1.1 AI
5.9.1.2 Blockchain
5.9.2 ADJACENT TECHNOLOGIES
5.9.2.1 Distributed energy resource management systems
5.1 TRADE ANALYSIS
5.10.1 EXPORT DATA (HS CODE 902830)
5.10.2 IMPORT DATA (HS CODE 902830)
5.11 PATENT ANALYSIS
5.12 KEY CONFERENCES AND EVENTS, 2024–2025
5.13 PRICING ANALYSIS
5.13.1 AVERAGE SELLING PRICE TREND, BY REGION
5.13.2 INDICATIVE PRICING TREND OF HARDWARE OFFERINGS
5.14 TARIFF AND REGULATORY LANDSCAPE
5.14.1 TARIFF ANALYSIS
5.14.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.14.3 CODES AND REGULATIONS
5.15 PORTER’S FIVE FORCES ANALYSIS
5.15.1 THREAT OF NEW ENTRANTS
5.15.2 BARGAINING POWER OF SUPPLIERS
5.15.3 BARGAINING POWER OF BUYERS
5.15.4 THREAT OF SUBSTITUTES
5.15.5 INTENSITY OF COMPETITIVE RIVALRY
5.16 KEY STAKEHOLDERS AND BUYING CRITERIA
5.16.1 KEY STAKEHOLDERS IN BUYING PROCESS
5.16.2 BUYING CRITERIA
6 SMART GRID MARKET, BY OFFERING
6.1 INTRODUCTION
6.2 SOFTWARE
6.2.1 ADVANCED METERING INFRASTRUCTURE SYSTEMS
6.2.1.1 Growing focus on reducing carbon footprints to boost demand
6.2.2 SMART GRID DISTRIBUTION MANAGEMENT SYSTEMS
6.2.2.1 Rising establishment of distributed renewable power generation plants to drive market
6.2.3 SMART GRID NETWORK MANAGEMENT SYSTEMS
6.2.3.1 Ability to offer IP-based communication networks to fuel market growth
6.2.4 GRID ASSET MANAGEMENT SYSTEMS
6.2.4.1 Rising demand to store real-time data for continuous asset monitoring to drive market
6.2.5 SUBSTATION AUTOMATION SYSTEMS
6.2.5.1 Pressing need to prevent power blackouts to drive market
6.2.6 SMART GRID SECURITY SYSTEMS
6.2.6.1 Increasing cyberattacks in smart grids to boost demand
6.2.7 BILLING AND CUSTOMER INFORMATION SYSTEMS
6.2.7.1 Growing importance of customer relationship management processes to accelerate demand
6.3 HARDWARE
6.3.1 SMART METERS
6.3.1.1 Increasing focus on energy conservation to fuel market growth
6.3.2 SENSORS
6.3.2.1 Integration of advanced intelligence in smart sensors to offer lucrative opportunities
6.3.3 PROGRAMMABLE LOGIC CONTROLLERS
6.3.3.1 Rising demand for advanced automation solutions in smart grid networks to drive market
6.3.4 OTHERS
6.4 SERVICES
6.4.1 CONSULTING
6.4.1.1 Increasing demand for dynamic analysis of products to drive market
6.4.2 DEPLOYMENT AND INTEGRATION
6.4.2.1 Rising need to simplify complexities and scale smart grid systems to boost demand
6.4.3 SUPPORT AND MAINTENANCE
6.4.3.1 Growing focus on monitoring hardware and software operations to drive market
7 SMART GRID MARKET, BY END-USE APPLICATION
7.1 INTRODUCTION
7.2 GENERATION
7.2.1 RISING DEMAND FOR REAL-TIME DATA ANALYTICS AND ADVANCED MONITORING SYSTEMS TO BOOST DEMAND
7.3 TRANSMISSION
7.3.1 INCREASING ADVANCEMENTS IN AUTOMATION AND COMMUNICATION TECHNOLOGIES TO FUEL MARKET GROWTH
7.4 DISTRIBUTION
7.4.1 INTEGRATION WITH SMART METERS AND ADVANCED SENSORS TO ACCELERATE DEMAND
7.5 CONSUMPTION
7.5.1 INCREASING ADOPTION OF EVS AND SMART HOME APPLIANCES TO FOSTER MARKET GROWTH
8 SMART GRID MARKET, BY COMMUNICATION TECHNOLOGY
8.1 INTRODUCTION
8.2 WIRELINE
8.2.1 ABILITY TO WITHSTAND HIGH-VOLTAGE ENVIRONMENTS TO BOOST DEMAND
8.3 WIRELESS
8.3.1 ONGOING ADVANCEMENTS IN 5G TECHNOLOGY TO DRIVE MARKET
9 SMART GRID MARKET, BY REGION
9.1 INTRODUCTION
9.2 NORTH AMERICA
9.2.1 RECESSION IMPACT ON SMART GRID MARKET IN NORTH AMERICA
9.2.2 US
9.2.2.1 Government-led initiatives to enhance grid infrastructure to drive market
9.2.3 CANADA
9.2.3.1 Rising emphasis on sustainable and net-zero economy to boost demand
9.2.4 MEXICO
9.2.4.1 Increasing deployment of advanced metering infrastructure to accelerate demand
9.3 EUROPE
9.3.1 RECESSION IMPACT ON SMART GRID MARKET IN EUROPE
9.3.2 GERMANY
9.3.2.1 Rising emphasis on modernizing power infrastructure to fuel market growth
9.3.3 UK
9.3.3.1 Government-led initiatives to deploy smart meters to drive market
9.3.4 FRANCE
9.3.4.1 Increasing focus on integrating renewable energy into power sector to accelerate demand
9.3.5 ITALY
9.3.5.1 Growing focus on upgrading existing smart grid infrastructure to fuel market growth
9.3.6 RUSSIA
9.3.6.1 Growing importance of railway substation automation to accelerate demand
9.3.7 SPAIN
9.3.7.1 Rising emphasis on developing flexible and adaptive grid systems to offer lucrative growth opportunities
9.3.8 REST OF EUROPE
9.4 ASIA PACIFIC
9.4.1 RECESSION IMPACT ON SMART GRID MARKET IN ASIA PACIFIC
9.4.2 CHINA
9.4.2.1 Increasing deployment of solar PV systems to boost demand
9.4.3 JAPAN
9.4.3.1 Growing need to create sustainable urban energy model to fuel market growth
9.4.4 SOUTH KOREA
9.4.4.1 Rising emphasis on developing EV charging infrastructure to drive market
9.4.5 INDIA
9.4.5.1 Increasing integration of AI and ML in smart grid for predictive maintenance to fuel market growth
9.4.6 AUSTRALIA
9.4.6.1 Growing need to reduce energy losses in electric utilities to drive market
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 RECESSION IMPACT ON SMART GRID MARKET IN MIDDLE EAST & AFRICA
9.5.2 GCC
9.5.2.1 Saudi Arabia
9.5.2.1.1 Rising focus on developing advanced transmission systems to boost demand
9.5.2.2 UAE
9.5.2.2.1 Increasing government-led investments in clean and renewable energy projects to fuel market growth
9.5.2.3 QATAR
9.5.2.3.1 Increasing initiatives to promote energy conservation and reduce carbon emissions to accelerate demand
9.5.2.4 Rest of GCC
9.5.3 SOUTH AFRICA
9.5.3.1 Rising integration of renewable energy sources into smart grids to boost demand
9.5.4 IRAN
9.5.4.1 Increasing initiatives to deploy smart meters in residential, commercial, and industrial sectors to support market growth
9.5.5 REST OF MIDDLE EAST & AFRICA
9.6 SOUTH AMERICA
9.6.1 RECESSION IMPACT ON SMART GRID MARKET IN SOUTH AMERICA
9.6.2 BRAZIL
9.6.2.1 Surging deployment of solar units to drive market
9.6.3 ARGENTINA
9.6.3.1 Rising need to improve supply of electric energy to boost demand
9.6.4 COLOMBIA
9.6.4.1 Increasing participation of private sector to innovate smart grid infrastructure to boost demand
9.6.5 REST OF SOUTH AMERICA
10 COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2022–2024
10.3 MARKET SHARE ANALYSIS, 2023
10.4 REVENUE ANALYSIS, 2019–2023
10.5 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
10.5.1 STARS
10.5.2 EMERGING LEADERS
10.5.3 PERVASIVE PLAYERS
10.5.4 PARTICIPANTS
10.5.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
10.5.5.1 Company footprint
10.5.5.2 Offering footprint
10.5.5.3 End-use application footprint
10.5.5.4 Communication technology footprint
10.5.5.5 Region footprint
10.6 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
10.6.1 PROGRESSIVE COMPANIES
10.6.2 RESPONSIVE COMPANIES
10.6.3 DYNAMIC COMPANIES
10.6.4 STARTING BLOCKS
10.6.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
10.6.5.1 Detailed list of key startups/SMEs
10.6.5.2 Competitive benchmarking of key startups/SMEs
10.7 COMPANY VALUATION AND FINANCIAL METRICS
10.8 BRAND/PRODUCT COMPARISON
10.9 COMPETITIVE SCENARIO AND TRENDS
10.9.1 PRODUCT LAUNCHES
10.9.2 DEALS
10.9.3 EXPANSIONS
10.9.4 OTHERS
11 COMPANY PROFILES
11.1 KEY PLAYERS
11.1.1 ABB
11.1.1.1 Business overview
11.1.1.2 Products/Services/Solutions offered
11.1.1.3 Recent developments
11.1.1.3.1 Deals
11.1.1.3.2 Others
11.1.1.4 MnM view
11.1.1.4.1 Key strengths/Right to win
11.1.1.4.2 Strategic choices
11.1.1.4.3 Weaknesses/Competitive threats
11.1.2 SIEMENS
11.1.2.1 Business overview
11.1.2.2 Products/Services/Solutions offered
11.1.2.3 Recent developments
11.1.2.3.1 Product launches
11.1.2.3.2 Deals
11.1.2.3.3 Expansions
11.1.2.4 MnM view
11.1.2.4.1 Key strengths/Right to win
11.1.2.4.2 Strategic choices
11.1.2.4.3 Weaknesses/Competitive threats
11.1.3 SCHNEIDER ELECTRIC
11.1.3.1 Business overview
11.1.3.2 Products/Services/Solutions offered
11.1.3.3 Recent developments
11.1.3.3.1 Product launches
11.1.3.4 MnM view
11.1.3.4.1 Key strengths/Right to win
11.1.3.4.2 Strategic choices
11.1.3.4.3 Weaknesses/Competitive threats
11.1.4 ITRON INC.
11.1.4.1 Business overview
11.1.4.2 Products/Services/Solutions offered
11.1.4.3 Recent developments
11.1.4.3.1 Product launches
11.1.4.4 MnM view
11.1.4.4.1 Key strengths/Right to win
11.1.4.4.2 Strategic choices
11.1.4.4.3 Weaknesses/Competitive threats
11.1.5 GE VERNOVA
11.1.5.1 Business overview
11.1.5.2 Products/Services/Solutions offered
11.1.5.3 Recent developments
11.1.5.3.1 Product launches
11.1.5.3.2 Deals
11.1.5.3.3 Others
11.1.5.4 MnM view
11.1.5.4.1 Key strategies/Right to win
11.1.5.4.2 Strategic choices
11.1.5.4.3 Weaknesses/Competitive threats
11.1.6 CISCO SYSTEMS, INC.
11.1.6.1 Business overview
11.1.6.2 Products/Services/Solutions offered
11.1.6.3 Recent developments
11.1.6.3.1 Product launches
11.1.7 ORACLE
11.1.7.1 Business overview
11.1.7.2 Products/Services/Solutions offered
11.1.7.3 Recent developments
11.1.7.3.1 Product launches
11.1.7.3.2 Deals
11.1.7.3.3 Others
11.1.8 HONEYWELL INTERNATIONAL INC.
11.1.8.1 Business overview
11.1.8.2 Products/Services/Solutions offered
11.1.8.3 Recent developments
11.1.8.3.1 Product launches
11.1.8.3.2 Deals
11.1.9 EATON
11.1.9.1 Business overview
11.1.9.2 Products/Services/Solutions offered
11.1.9.3 Recent developments
11.1.9.3.1 Product launches
11.1.10 TECH MAHINDRA LIMITED
11.1.10.1 Business overview
11.1.10.2 Products/Services/Solutions offered
11.1.11 TANTALUS
11.1.11.1 Business overview
11.1.11.2 Products/Services/Solutions offered
11.1.11.3 Recent developments
11.1.11.3.1 Product launches
11.1.11.3.2 Deals
11.1.11.3.3 Others
11.1.12 MITSUBISHI ELECTRIC CORPORATION
11.1.12.1 Business overview
11.1.12.2 Products/Services/Solutions offered
11.1.12.3 Recent developments
11.1.12.3.1 Deals
11.1.13 WIPRO
11.1.13.1 Business overview
11.1.13.2 Products/Services/Solutions offered
11.1.13.3 Recent developments
11.1.13.3.1 Deals
11.1.14 TRILLIANT HOLDINGS INC.
11.1.14.1 Business overview
11.1.14.2 Products/Services/Solutions offered
11.1.14.3 Recent developments
11.1.14.3.1 Deals
11.1.15 KAMSTRUP
11.1.15.1 Business overview
11.1.15.2 Products/Services/Solutions offered
11.1.15.3 Recent developments
11.1.15.3.1 Others
11.1.16 XYLEM
11.1.16.1 Business overview
11.1.16.2 Products/Services/Solutions offered
11.1.16.3 Recent developments
11.1.16.3.1 Product launches
11.1.16.3.2 Others
11.2 OTHER PLAYERS
11.2.1 ENEL X S.R.L.
11.2.2 ESMART SYSTEMS
11.2.3 GRID4C
11.2.4 NETWORKED ENERGY SERVICES
11.2.5 HITACHI ENERGY LTD.
11.2.6 LANDIS+GYR
11.2.7 SAGEMCOM
11.2.8 S&C ELECTRIC COMPANY
11.2.9 EDMI LIMITED
12 APPENDIX
12.1 INSIGHTS FROM INDUSTRY EXPERTS
12.2 DISCUSSION GUIDE
12.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
12.4 CUSTOMIZATION OPTIONS
12.5 RELATED REPORTS
12.6 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
1.3.2 INCLUSIONS AND EXCLUSIONS
1.3.3 REGIONAL SCOPE
1.3.4 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 UNITS CONSIDERED
1.6 LIMITATIONS
1.7 STAKEHOLDERS
1.8 SUMMARY OF CHANGES
1.9 RECESSION IMPACT
2 RESEARCH METHODOLOGY
2.1 RESEARCH APPROACH
2.2 DATA TRIANGULATION
2.3 PRIMARY AND SECONDARY RESEARCH
2.3.1 SECONDARY DATA
2.3.1.1 Key data from secondary sources
2.3.1.2 List of key secondary sources
2.3.2 PRIMARY DATA
2.3.2.1 Key data from primary sources
2.3.2.2 Key industry insights
2.3.2.3 List of major primary interview participants
2.3.2.4 Breakdown of primaries
2.4 MARKET SIZE ESTIMATION
2.4.1 BOTTOM-UP APPROACH
2.4.2 TOP-DOWN APPROACH
2.4.3 DEMAND-SIDE ANALYSIS
2.4.3.1 Regional analysis
2.4.3.2 Country-level analysis
2.4.3.3 Assumptions for demand-side analysis
2.4.3.4 Calculations for demand-side analysis
2.4.4 SUPPLY-SIDE ANALYSIS
2.4.4.1 Assumptions for supply-side analysis
2.4.4.2 Calculations for supply-side analysis
2.4.5 FORECAST
2.5 RISK ANALYSIS
2.6 RESEARCH ASSUMPTIONS
2.7 RESEARCH LIMITATIONS
2.8 IMPACT OF RECESSION
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SMART GRID MARKET
4.2 SMART GRID MARKET, BY REGION
4.3 SMART GRID MARKET IN NORTH AMERICA, BY COMMUNICATION TECHNOLOGY AND COUNTRY
4.4 SMART GRID MARKET, BY OFFERING
4.5 SMART GRID MARKET, BY COMMUNICATION TECHNOLOGY TYPE
4.6 SMART GRID MARKET, BY END-USE APPLICATION
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Growing government-led initiatives to deploy smart grids
5.2.1.2 Rising use of renewable sources in power generation
5.2.1.3 Growing utilization of advanced technology for tracking and mitigating greenhouse gas emissions
5.2.1.4 Increasing emphasis on modernization of aging grid infrastructure
5.2.1.5 Presence of traditional business models in utilities sector
5.2.2 RESTRAINTS
5.2.2.1 High installation cost of smart grids
5.2.2.2 Low awareness of protocols and interoperability standards
5.2.3 OPPORTUNITIES
5.2.3.1 Growing focus on smart city projects in developing countries
5.2.3.2 Rising demand for plug-in electric vehicles
5.2.3.3 Increasing adoption of cloud-based systems
5.2.4 CHALLENGES
5.2.4.1 Generation of complex data
5.2.4.2 Vulnerability to cyber threats
5.2.4.3 Delayed return on investment
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
5.4 VALUE CHAIN ANALYSIS
5.5 ECOSYSTEM ANALYSIS
5.6 CASE STUDY ANALYSIS
5.6.1 EATON ASSISTED FLORIAN HOTEL WITH BUILDINGS AS GRID THAT ENHANCED ENERGY RESILIENCE
5.6.2 EQUS COLLABORATED WITH SCHNEIDER ELECTRIC TO IMPLEMENT SMART GRID SOLUTION THAT OFFERED ENHANCED GRID TRANSPARENCY AND IMPROVED OUTAGE RESPONSE TIMES
5.6.3 WIPRO ASSISTED PUBLIC UTILITY COMPANY IMPLEMENT ANALYTICS SOLUTIONS THAT EASED ASSET CONDITIONING MONITORING AND IMPROVED CUSTOMER SERVICES
5.7 INVESTMENT AND FUNDING SCENARIO
5.8 TRENDS IN DIGITALIZATION
5.8.1 ELECTRIFICATION AND DIGITALIZATION
5.8.2 AI AND SMART GRID TECHNOLOGY PENETRATION
5.8.3 ENERGY AS A SERVICE (EAAS)
5.8.4 DISTRIBUTION SYSTEM DIGITALIZATION
5.9 TECHNOLOGY ANALYSIS
5.9.1 KEY TECHNOLOGIES
5.9.1.1 AI
5.9.1.2 Blockchain
5.9.2 ADJACENT TECHNOLOGIES
5.9.2.1 Distributed energy resource management systems
5.1 TRADE ANALYSIS
5.10.1 EXPORT DATA (HS CODE 902830)
5.10.2 IMPORT DATA (HS CODE 902830)
5.11 PATENT ANALYSIS
5.12 KEY CONFERENCES AND EVENTS, 2024–2025
5.13 PRICING ANALYSIS
5.13.1 AVERAGE SELLING PRICE TREND, BY REGION
5.13.2 INDICATIVE PRICING TREND OF HARDWARE OFFERINGS
5.14 TARIFF AND REGULATORY LANDSCAPE
5.14.1 TARIFF ANALYSIS
5.14.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.14.3 CODES AND REGULATIONS
5.15 PORTER’S FIVE FORCES ANALYSIS
5.15.1 THREAT OF NEW ENTRANTS
5.15.2 BARGAINING POWER OF SUPPLIERS
5.15.3 BARGAINING POWER OF BUYERS
5.15.4 THREAT OF SUBSTITUTES
5.15.5 INTENSITY OF COMPETITIVE RIVALRY
5.16 KEY STAKEHOLDERS AND BUYING CRITERIA
5.16.1 KEY STAKEHOLDERS IN BUYING PROCESS
5.16.2 BUYING CRITERIA
6 SMART GRID MARKET, BY OFFERING
6.1 INTRODUCTION
6.2 SOFTWARE
6.2.1 ADVANCED METERING INFRASTRUCTURE SYSTEMS
6.2.1.1 Growing focus on reducing carbon footprints to boost demand
6.2.2 SMART GRID DISTRIBUTION MANAGEMENT SYSTEMS
6.2.2.1 Rising establishment of distributed renewable power generation plants to drive market
6.2.3 SMART GRID NETWORK MANAGEMENT SYSTEMS
6.2.3.1 Ability to offer IP-based communication networks to fuel market growth
6.2.4 GRID ASSET MANAGEMENT SYSTEMS
6.2.4.1 Rising demand to store real-time data for continuous asset monitoring to drive market
6.2.5 SUBSTATION AUTOMATION SYSTEMS
6.2.5.1 Pressing need to prevent power blackouts to drive market
6.2.6 SMART GRID SECURITY SYSTEMS
6.2.6.1 Increasing cyberattacks in smart grids to boost demand
6.2.7 BILLING AND CUSTOMER INFORMATION SYSTEMS
6.2.7.1 Growing importance of customer relationship management processes to accelerate demand
6.3 HARDWARE
6.3.1 SMART METERS
6.3.1.1 Increasing focus on energy conservation to fuel market growth
6.3.2 SENSORS
6.3.2.1 Integration of advanced intelligence in smart sensors to offer lucrative opportunities
6.3.3 PROGRAMMABLE LOGIC CONTROLLERS
6.3.3.1 Rising demand for advanced automation solutions in smart grid networks to drive market
6.3.4 OTHERS
6.4 SERVICES
6.4.1 CONSULTING
6.4.1.1 Increasing demand for dynamic analysis of products to drive market
6.4.2 DEPLOYMENT AND INTEGRATION
6.4.2.1 Rising need to simplify complexities and scale smart grid systems to boost demand
6.4.3 SUPPORT AND MAINTENANCE
6.4.3.1 Growing focus on monitoring hardware and software operations to drive market
7 SMART GRID MARKET, BY END-USE APPLICATION
7.1 INTRODUCTION
7.2 GENERATION
7.2.1 RISING DEMAND FOR REAL-TIME DATA ANALYTICS AND ADVANCED MONITORING SYSTEMS TO BOOST DEMAND
7.3 TRANSMISSION
7.3.1 INCREASING ADVANCEMENTS IN AUTOMATION AND COMMUNICATION TECHNOLOGIES TO FUEL MARKET GROWTH
7.4 DISTRIBUTION
7.4.1 INTEGRATION WITH SMART METERS AND ADVANCED SENSORS TO ACCELERATE DEMAND
7.5 CONSUMPTION
7.5.1 INCREASING ADOPTION OF EVS AND SMART HOME APPLIANCES TO FOSTER MARKET GROWTH
8 SMART GRID MARKET, BY COMMUNICATION TECHNOLOGY
8.1 INTRODUCTION
8.2 WIRELINE
8.2.1 ABILITY TO WITHSTAND HIGH-VOLTAGE ENVIRONMENTS TO BOOST DEMAND
8.3 WIRELESS
8.3.1 ONGOING ADVANCEMENTS IN 5G TECHNOLOGY TO DRIVE MARKET
9 SMART GRID MARKET, BY REGION
9.1 INTRODUCTION
9.2 NORTH AMERICA
9.2.1 RECESSION IMPACT ON SMART GRID MARKET IN NORTH AMERICA
9.2.2 US
9.2.2.1 Government-led initiatives to enhance grid infrastructure to drive market
9.2.3 CANADA
9.2.3.1 Rising emphasis on sustainable and net-zero economy to boost demand
9.2.4 MEXICO
9.2.4.1 Increasing deployment of advanced metering infrastructure to accelerate demand
9.3 EUROPE
9.3.1 RECESSION IMPACT ON SMART GRID MARKET IN EUROPE
9.3.2 GERMANY
9.3.2.1 Rising emphasis on modernizing power infrastructure to fuel market growth
9.3.3 UK
9.3.3.1 Government-led initiatives to deploy smart meters to drive market
9.3.4 FRANCE
9.3.4.1 Increasing focus on integrating renewable energy into power sector to accelerate demand
9.3.5 ITALY
9.3.5.1 Growing focus on upgrading existing smart grid infrastructure to fuel market growth
9.3.6 RUSSIA
9.3.6.1 Growing importance of railway substation automation to accelerate demand
9.3.7 SPAIN
9.3.7.1 Rising emphasis on developing flexible and adaptive grid systems to offer lucrative growth opportunities
9.3.8 REST OF EUROPE
9.4 ASIA PACIFIC
9.4.1 RECESSION IMPACT ON SMART GRID MARKET IN ASIA PACIFIC
9.4.2 CHINA
9.4.2.1 Increasing deployment of solar PV systems to boost demand
9.4.3 JAPAN
9.4.3.1 Growing need to create sustainable urban energy model to fuel market growth
9.4.4 SOUTH KOREA
9.4.4.1 Rising emphasis on developing EV charging infrastructure to drive market
9.4.5 INDIA
9.4.5.1 Increasing integration of AI and ML in smart grid for predictive maintenance to fuel market growth
9.4.6 AUSTRALIA
9.4.6.1 Growing need to reduce energy losses in electric utilities to drive market
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 RECESSION IMPACT ON SMART GRID MARKET IN MIDDLE EAST & AFRICA
9.5.2 GCC
9.5.2.1 Saudi Arabia
9.5.2.1.1 Rising focus on developing advanced transmission systems to boost demand
9.5.2.2 UAE
9.5.2.2.1 Increasing government-led investments in clean and renewable energy projects to fuel market growth
9.5.2.3 QATAR
9.5.2.3.1 Increasing initiatives to promote energy conservation and reduce carbon emissions to accelerate demand
9.5.2.4 Rest of GCC
9.5.3 SOUTH AFRICA
9.5.3.1 Rising integration of renewable energy sources into smart grids to boost demand
9.5.4 IRAN
9.5.4.1 Increasing initiatives to deploy smart meters in residential, commercial, and industrial sectors to support market growth
9.5.5 REST OF MIDDLE EAST & AFRICA
9.6 SOUTH AMERICA
9.6.1 RECESSION IMPACT ON SMART GRID MARKET IN SOUTH AMERICA
9.6.2 BRAZIL
9.6.2.1 Surging deployment of solar units to drive market
9.6.3 ARGENTINA
9.6.3.1 Rising need to improve supply of electric energy to boost demand
9.6.4 COLOMBIA
9.6.4.1 Increasing participation of private sector to innovate smart grid infrastructure to boost demand
9.6.5 REST OF SOUTH AMERICA
10 COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2022–2024
10.3 MARKET SHARE ANALYSIS, 2023
10.4 REVENUE ANALYSIS, 2019–2023
10.5 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
10.5.1 STARS
10.5.2 EMERGING LEADERS
10.5.3 PERVASIVE PLAYERS
10.5.4 PARTICIPANTS
10.5.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
10.5.5.1 Company footprint
10.5.5.2 Offering footprint
10.5.5.3 End-use application footprint
10.5.5.4 Communication technology footprint
10.5.5.5 Region footprint
10.6 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
10.6.1 PROGRESSIVE COMPANIES
10.6.2 RESPONSIVE COMPANIES
10.6.3 DYNAMIC COMPANIES
10.6.4 STARTING BLOCKS
10.6.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
10.6.5.1 Detailed list of key startups/SMEs
10.6.5.2 Competitive benchmarking of key startups/SMEs
10.7 COMPANY VALUATION AND FINANCIAL METRICS
10.8 BRAND/PRODUCT COMPARISON
10.9 COMPETITIVE SCENARIO AND TRENDS
10.9.1 PRODUCT LAUNCHES
10.9.2 DEALS
10.9.3 EXPANSIONS
10.9.4 OTHERS
11 COMPANY PROFILES
11.1 KEY PLAYERS
11.1.1 ABB
11.1.1.1 Business overview
11.1.1.2 Products/Services/Solutions offered
11.1.1.3 Recent developments
11.1.1.3.1 Deals
11.1.1.3.2 Others
11.1.1.4 MnM view
11.1.1.4.1 Key strengths/Right to win
11.1.1.4.2 Strategic choices
11.1.1.4.3 Weaknesses/Competitive threats
11.1.2 SIEMENS
11.1.2.1 Business overview
11.1.2.2 Products/Services/Solutions offered
11.1.2.3 Recent developments
11.1.2.3.1 Product launches
11.1.2.3.2 Deals
11.1.2.3.3 Expansions
11.1.2.4 MnM view
11.1.2.4.1 Key strengths/Right to win
11.1.2.4.2 Strategic choices
11.1.2.4.3 Weaknesses/Competitive threats
11.1.3 SCHNEIDER ELECTRIC
11.1.3.1 Business overview
11.1.3.2 Products/Services/Solutions offered
11.1.3.3 Recent developments
11.1.3.3.1 Product launches
11.1.3.4 MnM view
11.1.3.4.1 Key strengths/Right to win
11.1.3.4.2 Strategic choices
11.1.3.4.3 Weaknesses/Competitive threats
11.1.4 ITRON INC.
11.1.4.1 Business overview
11.1.4.2 Products/Services/Solutions offered
11.1.4.3 Recent developments
11.1.4.3.1 Product launches
11.1.4.4 MnM view
11.1.4.4.1 Key strengths/Right to win
11.1.4.4.2 Strategic choices
11.1.4.4.3 Weaknesses/Competitive threats
11.1.5 GE VERNOVA
11.1.5.1 Business overview
11.1.5.2 Products/Services/Solutions offered
11.1.5.3 Recent developments
11.1.5.3.1 Product launches
11.1.5.3.2 Deals
11.1.5.3.3 Others
11.1.5.4 MnM view
11.1.5.4.1 Key strategies/Right to win
11.1.5.4.2 Strategic choices
11.1.5.4.3 Weaknesses/Competitive threats
11.1.6 CISCO SYSTEMS, INC.
11.1.6.1 Business overview
11.1.6.2 Products/Services/Solutions offered
11.1.6.3 Recent developments
11.1.6.3.1 Product launches
11.1.7 ORACLE
11.1.7.1 Business overview
11.1.7.2 Products/Services/Solutions offered
11.1.7.3 Recent developments
11.1.7.3.1 Product launches
11.1.7.3.2 Deals
11.1.7.3.3 Others
11.1.8 HONEYWELL INTERNATIONAL INC.
11.1.8.1 Business overview
11.1.8.2 Products/Services/Solutions offered
11.1.8.3 Recent developments
11.1.8.3.1 Product launches
11.1.8.3.2 Deals
11.1.9 EATON
11.1.9.1 Business overview
11.1.9.2 Products/Services/Solutions offered
11.1.9.3 Recent developments
11.1.9.3.1 Product launches
11.1.10 TECH MAHINDRA LIMITED
11.1.10.1 Business overview
11.1.10.2 Products/Services/Solutions offered
11.1.11 TANTALUS
11.1.11.1 Business overview
11.1.11.2 Products/Services/Solutions offered
11.1.11.3 Recent developments
11.1.11.3.1 Product launches
11.1.11.3.2 Deals
11.1.11.3.3 Others
11.1.12 MITSUBISHI ELECTRIC CORPORATION
11.1.12.1 Business overview
11.1.12.2 Products/Services/Solutions offered
11.1.12.3 Recent developments
11.1.12.3.1 Deals
11.1.13 WIPRO
11.1.13.1 Business overview
11.1.13.2 Products/Services/Solutions offered
11.1.13.3 Recent developments
11.1.13.3.1 Deals
11.1.14 TRILLIANT HOLDINGS INC.
11.1.14.1 Business overview
11.1.14.2 Products/Services/Solutions offered
11.1.14.3 Recent developments
11.1.14.3.1 Deals
11.1.15 KAMSTRUP
11.1.15.1 Business overview
11.1.15.2 Products/Services/Solutions offered
11.1.15.3 Recent developments
11.1.15.3.1 Others
11.1.16 XYLEM
11.1.16.1 Business overview
11.1.16.2 Products/Services/Solutions offered
11.1.16.3 Recent developments
11.1.16.3.1 Product launches
11.1.16.3.2 Others
11.2 OTHER PLAYERS
11.2.1 ENEL X S.R.L.
11.2.2 ESMART SYSTEMS
11.2.3 GRID4C
11.2.4 NETWORKED ENERGY SERVICES
11.2.5 HITACHI ENERGY LTD.
11.2.6 LANDIS+GYR
11.2.7 SAGEMCOM
11.2.8 S&C ELECTRIC COMPANY
11.2.9 EDMI LIMITED
12 APPENDIX
12.1 INSIGHTS FROM INDUSTRY EXPERTS
12.2 DISCUSSION GUIDE
12.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
12.4 CUSTOMIZATION OPTIONS
12.5 RELATED REPORTS
12.6 AUTHOR DETAILS
