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Smart Grid Market Size, Share, and Analysis, By Component (Software, Hardware, Services), By Technology (Wireless, Wired), By Solution (Smart Grid Security, Smart Grid Communications, Smart Grid Distribution Management, Smart Grid Network Management, Advanced Metering Infrastructure, Substation Automation, Others), By Application (Generation, Distribution, Transmission, Consumption/End Use), By End User (Residential, Commercial, Industrial) and Regional Forecasts, 2022-2032

September 2023 | 362 pages | ID: S33D65A8C8C0EN
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Smart Grid Market Size, Share, and Analysis, By Component (Software, Hardware, Services), By Technology (Wireless, Wired), By Solution (Smart Grid Security, Smart Grid Communications, Smart Grid Distribution Management, Smart Grid Network Management, Advanced Metering Infrastructure, Substation Automation, Others), By Application (Generation, Distribution, Transmission, Consumption/End Use), By End User (Residential, Commercial, Industrial) and Regional Forecasts, 2022-2032

PRODUCT OVERVIEW

Smart Grid Market size was USD 33.18 billion in 2021 and projected t%li%grow from USD 46.5 billion in 2023 t%li%USD 216.6 billion by 2032, exhibiting a CAGR of 18.6% during the forecast period.

Smart Grids are usually referred as sensible electrical network which consists of a smart data communication technology and an electrical network. Smart grid was initiated t%li%control the defects of conventional electrical grids through utilizing smart meters. It is capable of conveying electricity from multiple sources like solar energy systems, wind turbines t%li%the user. A smart grid is an electricity network utilizing automated technology for giving electricity t%li%consumers by two-part data communication. This system permits observing, examination, control, and communication within the supply chain t%li%aid in improving the effectiveness and boost the transparency of the energy supply chain.

MARKET HIGHLIGHTS

Smart Grid Market is expected t%li%reach USD 216.6 billion, growing at a CAGR of 18.6% during forecast period owing t%li%the growing issues related t%li%the protection of environment and increasing usage of smart grid technology for enhancing effectiveness in energy preservation and utilization which are boosting the growth of the market. Favourable government strategies & regulations t%li%utilize smart meters and growing investments in digital electricity infrastructure are als%li%anticipated t%li%drive the demand for the growth of the market.

Smart Grid Market Segments:
  • Component
  • Software
  • Hardware
  • Services
  • Technology
  • Wireless
  • Wired
  • Solution
  • Smart Grid Security
  • Smart Grid Communications
  • Smart Grid Distribution Management
  • Smart Grid Network Management
  • Advanced Metering Infrastructure
  • Substation Automation
  • Others
  • Application
  • Generation
  • Distribution
  • Transmission
  • Consumption/End Use
  • End User
  • Residential
  • Commercial
  • Industrial
MARKET DYNAMICS

Growth Drivers

Enhanced Grid Reliability is Expected t%li%Boost the Growth of the Market

Supportive Governments Regulations are Expected t%li%Boost the Market Growth

Restraint

High Implementation Costs May Restrain the Growth of the Market

Key Players
  • ABB
  • Schneider Electric
  • Oracle
  • Cisco
  • Trilliant Holdings
  • GE
  • Siemens
  • Itron
  • Aclara
  • IBM
  • OSI
  • Wipro
  • Honeywell
  • Eaton
  • S&C
  • Globema
  • Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
Global Laboratory Temperature Control Units Market is further segmented by region into:
  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Reasons t%li%Purchase this Report
  • Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
  • Provision of market value (USD Billion) data for each segment and sub-segment
      • Indicates the region and segment that is expected t%li%witness the fastest growth as well as t%li%dominate the market
  • Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
  • Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
  • Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
    • The current as well as the future market outlook of the industry with respect t%li%recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
  • Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
    • Provides insight int%li%the market through Value Chain
    • Market dynamics scenario, along with growth opportunities of the market in the years t%li%come
  • 3-month post-sales analyst support.
1. EXECUTIVE SUMMARY

1.1.Regional Market Share
1.2. Business Trends
1.3. Smart Grid Market: COVID-19 Outbreak
1.4.Regional Trends
1.5. Segmentation Snapshot

2. RESEARCH METHODOLOGY

2.1. Research Objective
2.2.Research Approach
2.3.Data Sourcing and Methodology
2.4. Primary Research
2.5. Secondary Research
  2.5.1.Paid Sources
  2.5.2. Public Sources
2.6.Market Size Estimation and Data Triangulation

3. MARKET CHARACTERISTICS

3.1. Market Definition
3.2.Smart Grid Market: COVID-19 Impact
3.3.Key Segmentations
3.4. Key Developments
3.5. Allied Industry Data

4. SMART GRID MARKET – INDUSTRY INSIGHTS

4.1.Industry Segmentation
4.2. COVID-19 overview on world economy
4.3. Industry ecosystem Channel analysis
4.4. Innovation & Sustainability

5. MACROECONOMIC INDICATORS

6. RECENT DEVELOPMENTS

7.MARKET DYNAMICS

7.1. Introduction
7.2.Growth Drivers
7.3.Market Opportunities
7.4. Market Restraints
7.5.Market Trends

8. RISK ANALYSIS

9. MARKET ANALYSIS

9.1. Porters Five Forces
9.2.PEST Analysis
  9.2.1. Political
  9.2.2.Economic
  9.2.3.Social
  9.2.4.Technological

10. SMART GRID MARKET

10.1.Overview
10.2. Historical Analysis (2016-2021)
  10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast

11.SMART GRID MARKET SIZE & FORECAST 2022A-2032F

11.1.Overview
11.2. Key Findings
11.3. Market Segmentation
  11.3.1.By Component
    11.3.1.1. Software
      11.3.1.1.1. By Value (USD Million) 2022-2032F
      11.3.1.1.2.Market Share (%) 2022-2032F
      11.3.1.1.3.Y-o-Y Growth (%) 2022-2032F
    11.3.1.2.Hardware
      11.3.1.2.1.By Value (USD Million) 2022-2032F
      11.3.1.2.2. Market Share (%) 2022-2032F
      11.3.1.2.3. Y-o-Y Growth (%) 2022-2032F
    11.3.1.3.Services
      11.3.1.3.1.By Value (USD Million) 2022-2032F
      11.3.1.3.2. Market Share (%) 2022-2032F
      11.3.1.3.3. Y-o-Y Growth (%) 2022-2032F
  11.3.2. By Technology
    11.3.2.1.Wireless
      11.3.2.1.1.By Value (USD Million) 2022-2032F
      11.3.2.1.2. Market Share (%) 2022-2032F
      11.3.2.1.3. Y-o-Y Growth (%) 2022-2032F
    11.3.2.2. Wired
      11.3.2.2.1. By Value (USD Million) 2022-2032F
      11.3.2.2.2.Market Share (%) 2022-2032F
      11.3.2.2.3.Y-o-Y Growth (%) 2022-2032F
  11.3.3. By Solution
    11.3.3.1.Smart Grid Security
      11.3.3.1.1.By Value (USD Million) 2022-2032F
      11.3.3.1.2. Market Share (%) 2022-2032F
      11.3.3.1.3. Y-o-Y Growth (%) 2022-2032F
    11.3.3.2. Smart Grid Communications
      11.3.3.2.1. By Value (USD Million) 2022-2032F
      11.3.3.2.2.Market Share (%) 2022-2032F
      11.3.3.2.3.Y-o-Y Growth (%) 2022-2032F
    11.3.3.3. Smart Grid Distribution Management
      11.3.3.3.1. By Value (USD Million) 2022-2032F
      11.3.3.3.2.Market Share (%) 2022-2032F
      11.3.3.3.3.Y-o-Y Growth (%) 2022-2032F
    11.3.3.4. Smart Grid Network Management
      11.3.3.4.1. By Value (USD Million) 2022-2032F
      11.3.3.4.2. Market Share (%) 2022-2032F
      11.3.3.4.3. Y-o-Y Growth (%) 2022-2032F
    11.3.3.5. Advanced Metering Infrastructure
      11.3.3.5.1. By Value (USD Million) 2022-2032F
      11.3.3.5.2.Market Share (%) 2022-2032F
      11.3.3.5.3.Y-o-Y Growth (%) 2022-2032F
    11.3.3.6. Substation Automation
      11.3.3.6.1. By Value (USD Million) 2022-2032F
      11.3.3.6.2.Market Share (%) 2022-2032F
      11.3.3.6.3.Y-o-Y Growth (%) 2022-2032F
    11.3.3.7. Others
      11.3.3.7.1. By Value (USD Million) 2022-2032F
      11.3.3.7.2.Market Share (%) 2022-2032F
      11.3.3.7.3.Y-o-Y Growth (%) 2022-2032F
  11.3.4. By Application
    11.3.4.1.Generation
      11.3.4.1.1.By Value (USD Million) 2022-2032F
      11.3.4.1.2. Market Share (%) 2022-2032F
      11.3.4.1.3. Y-o-Y Growth (%) 2022-2032F
    11.3.4.2. Distribution
      11.3.4.2.1. By Value (USD Million) 2022-2032F
      11.3.4.2.2.Market Share (%) 2022-2032F
      11.3.4.2.3. Y-o-Y Growth (%) 2022-2032F
    11.3.4.3. Transmission
      11.3.4.3.1. By Value (USD Million) 2022-2032F
      11.3.4.3.2. Market Share (%) 2022-2032F
      11.3.4.3.3. Y-o-Y Growth (%) 2022-2032F
    11.3.4.4. Consumption/End Use
      11.3.4.4.1.By Value (USD Million) 2022-2032F
      11.3.4.4.2. Market Share (%) 2022-2032F
      11.3.4.4.3. Y-o-Y Growth (%) 2022-2032F
  11.3.5. By End User
    11.3.5.1.Residential
      11.3.5.1.1.By Value (USD Million) 2022-2032F
      11.3.5.1.2. Market Share (%) 2022-2032F
      11.3.5.1.3. Y-o-Y Growth (%) 2022-2032F
    11.3.5.2. Commercial
      11.3.5.2.1. By Value (USD Million) 2022-2032F
      11.3.5.2.2.Market Share (%) 2022-2032F
      11.3.5.2.3.Y-o-Y Growth (%) 2022-2032F
    11.3.5.3. Industrial
      11.3.5.3.1. By Value (USD Million) 2022-2032F
      11.3.5.3.2.Market Share (%) 2022-2032F
      11.3.5.3.3.Y-o-Y Growth (%) 2022-2032F

12. NORTH AMERICA SMART GRID MARKET SIZE & FORECAST 2022A-2032F

12.1. Overview
12.2. Key Findings
12.3. Market Segmentation
  12.3.1. By Component
  12.3.2.By Technology
  12.3.3.By Solution
  12.3.4.By Application
  12.3.5.By End User
12.4. Country
  12.4.1.United States
  12.4.2. Canada

13. EUROPE SMART GRID MARKET SIZE & FORECAST 2022A-2032F

13.1. Overview
13.2. Key Findings
13.3. Market Segmentation
  13.3.1. By Component
  13.3.2.By Technology
  13.3.3.By Solution
  13.3.4.By Application
  13.3.5.By End User
13.4. Country
  13.4.1.Germany
  13.4.2. United Kingdom
  13.4.3. France
  13.4.4. Italy
  13.4.5. Spain
  13.4.6. Russia
  13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)

14. ASIA SMART GRID MARKET SIZE & FORECAST 2022A-2032F

14.1.Overview
14.2. Key Findings
14.3. Market Segmentation
  14.3.1. By Component
  14.3.2.By Technology
  14.3.3.By Solution
  14.3.4. By Application
  14.3.5.By End User
14.4. Country
  14.4.1.India
  14.4.2. China
  14.4.3. South Korea
  14.4.4. Japan
  14.4.5. Rest of APAC

15. MIDDLE EAST AND AFRICA SMART GRID MARKET SIZE & FORECAST 2022A-2032F

15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
  15.3.1. By Component
  15.3.2.By Technology
  15.3.3.By Solution
  15.3.4.By Application
  15.3.5.By End User
15.4. Country
  15.4.1.Israel
  15.4.2. GCC
  15.4.3. North Africa
  15.4.4. South Africa
  15.4.5. Rest of Middle East and Africa

16. LATIN AMERICA SMART GRID MARKET SIZE & FORECAST 2022A-2032F

16.1. Overview
16.2. Key Findings
16.3. Market Segmentation
  16.3.1. By Component
  16.3.2.By Technology
  16.3.3.By Solution
  16.3.4.By Application
  16.3.5.By End User
16.4. Country
  16.4.1. Mexico
  16.4.2. Brazil
  16.4.3. Rest of Latin America

17. COMPETITIVE LANDSCAPE

17.1. Company market share, 2021
17.2.Key player overview
17.3. Key stakeholders

18. COMPANY PROFILES

18.1.ABB
  18.1.1.Company Overview
  18.1.2.Financial Overview
  18.1.3.Key Product; Analysis
  18.1.4.Company Assessment
    18.1.4.1.Product Portfolio
    18.1.4.2. Key Clients
    18.1.4.3. Market Share
    18.1.4.4. Recent News & Development (Last 3 Yrs.)
    18.1.4.5. Executive Team
18.2. Schneider Electric
18.3. Oracle
18.4.Cisco
18.5. Trilliant Holdings
18.6. GE
18.7. Siemens
18.8.Itron
18.9. Aclara
18.10.IBM
18.11.OSI
18.12.Wipro
18.13.Honeywell
18.14.Eaton
18.15.S&C
18.16. Globema
18.17. Other Prominent Players

19. APPENDIX

20.CONSULTANT RECOMMENDATION



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