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Global Smart Grid IT Systems Market Size Study, by Application (EMS, DMS, OMS, Data Analytics), by End-user (Residential, Commercial, Industrial), and Regional Forecasts 2022-2032

August 2024 | 200 pages | ID: G3E2E3B2B49BEN
Bizwit Research & Consulting LLP

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Global Smart Grid IT Systems Market is valued at approximately USD 34.76 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 22.07% over the forecast period 2024-2032. Smart Grid IT Systems form the digital backbone of contemporary power grids, leveraging advanced technologies such as sensors, communication networks, and data analytics to optimize electricity generation, distribution, and consumption. These systems enhance the efficiency, reliability, and sustainability of power grids while empowering consumers to manage their energy usage intelligently. The escalating demand for energy and cost efficiency, driven by the rapid adoption of smart grid technology and stringent governmental regulations aimed at curbing carbon emissions, serves as a key driver for the market. However, challenges such as the absence of standardization could hinder market expansion. Despite these challenges, industry players are proactively addressing opportunities presented by the increasing utilization of smart devices and applications, which are expected to drive further market growth. By capitalizing on these opportunities, stakeholders aim to overcome existing obstacles and leverage emerging trends, thereby propelling the market forward. This proactive approach towards innovation and adaptation underscores the resilience and dynamism of the market, positioning it for sustained growth amidst evolving consumer needs and regulatory landscapes.
The smart grid industry is revolutionizing electrical power management with advanced technologies like wind turbines, solar power systems, and superconducting cables, promoting sustainability and reducing reliance on traditional fossil fuels. Intelligent appliances and smart power meters optimize energy consumption and enhance power quality across electrical networks. Smart substations and protective management systems ensure reliability amidst challenges such as security concerns and population growth. The integration of digital communication technologies and the Internet of Things (IoT) in smart grid meters and transmission networks enables real-time monitoring and efficient grid operation. Addressing aging grid infrastructure is critical for utility service providers and technology companies to meet the demands of smart cities, thereby enhancing grid resilience and supporting sustainable development goals.
Key market drivers include the growing demand for energy and cost-efficiency, driven by the expanding global population and rising energy demand. Utility companies are increasingly adopting smart grid IT systems to boost operational and overall cost efficiency. Smart grid IT systems offer numerous benefits, including improving product quality through real-time monitoring and communication, providing cost-efficient options, and reducing power consumption. These systems enable the integration of different independent systems into a single platform, greatly increasing operational efficiency and reducing overall costs, driving market growth during the forecast period.
A significant market trend is the growing use of smart devices and applications by utility companies. Utilities can easily and quickly prevent, recognize, and fix grid-related issues due to the extensive deployment of communication devices. These connected devices support advanced distribution network applications such as isolation and service restoration, conservation voltage reduction (CVR), fault location, and DER management. The rapid spread of smart devices and applications enables flexibility in communication within the infrastructure, supporting dynamic optimization at the grid edge, improved restorative capabilities for prompt outage management, and proper service coordination between utilities and third-party providers. This trend increases the demand for smart grid IT systems and expands their scope of applications, driving global market growth.
Europe's power market is characterized by a high level of supply, with companies effectively meeting the population's needs. Unlike APAC nations, where power losses during transmission can reach approximately 20%, European Union (EU) countries have managed to keep transmission losses to a lower level. Smart grid initiatives in Europe are anticipated to be influenced by climate change policies, such as The Paris Climate Agreement, which aims to reduce carbon emissions in the region. The need to minimize the carbon footprint and ensure a smooth transition to renewable energy sources is expected to drive market growth in Europe during the forecast period.
A major market challenge is the lack of standardization, which impedes market growth. The gap between the interoperability of different power systems has grown due to the general lack of standardization within grid networks. The integration of various interconnected systems within smart grids widens the gap between networking systems, affecting overall grid functionality. Utilities face significant challenges in implementing security standards across different networking systems, and the disparities in standards lead to a significant mismatch in system compatibilities, restraining the global market for smart grid IT systems.
The key regions considered for the global Smart Grid IT Systems Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe is expected to dominate the market due to its strong regulatory framework, ambitious climate goals, and well-established infrastructure for smart grid technology. The region's commitment to reducing carbon emissions and transitioning to renewable energy sources drives the adoption of smart grid IT systems. Meanwhile, the Asia-Pacific region is expected to experience the fastest growth due to increasing urbanization, industrial expansion, and investments in smart grid infrastructure.s
The major players operating in the global smart grid IT systems market include:
Cisco Systems Inc.
Siemens AG
Honeywell International Inc.
International Business Machines Corp.
Itron Inc.
Eaton Corp. Plc
ENEL X srl
Globema SP Z O O
Oracle Corp.
SAP SE
TANTALUS SYSTEM HOLDING INC.
Tech Mahindra Ltd.

The detailed segments and sub-segment of the market are explained below:
By Application:
• EMS (Energy Management Systems)
• DMS (Distribution Management Systems)
• OMS (Outage Management Systems)
• Data Analytics
By End-user:
• Residential
• Commercial
• Industrial
By Region:
• North America
o U.S.
o Canada
• Europe
o UK
o Germany
o France
o Spain
o Italy
o ROE
• Asia Pacific
o China
o India
o Japan
o Australia
o South Korea
o RoAPAC
• Latin America
o Brazil
o Mexico
o RoLA
• Middle East & Africa
o Saudi Arabia
o South Africa
o RoMEA
Years considered for the study are as follows:
• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032
Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with country-level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of the competitive structure of the market.
• Demand side and supply side analysis of the market.
CHAPTER 1. GLOBAL SMART GRID IT SYSTEMS MARKET EXECUTIVE SUMMARY

1.1. Global Smart Grid IT Systems Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
  1.3.1. By Application
  1.3.2. By End-user
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

CHAPTER 2. GLOBAL SMART GRID IT SYSTEMS MARKET DEFINITION AND RESEARCH ASSUMPTIONS

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
  2.3.1. Inclusion & Exclusion
  2.3.2. Limitations
  2.3.3. Supply Side Analysis
    2.3.3.1. Availability
    2.3.3.2. Infrastructure
    2.3.3.3. Regulatory Environment
    2.3.3.4. Market Competition
    2.3.3.5. Economic Viability (Consumer’s Perspective)
  2.3.4. Demand Side Analysis
    2.3.4.1. Regulatory Frameworks
    2.3.4.2. Technological Advancements
    2.3.4.3. Environmental Considerations
    2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

CHAPTER 3. GLOBAL SMART GRID IT SYSTEMS MARKET DYNAMICS

3.1. Market Drivers
  3.1.1. Growing Demand for Energy and Cost-efficiency
  3.1.2. Stringent Governmental Regulations
  3.1.3. Increasing Utilization of Smart Devices
3.2. Market Challenges
  3.2.1. Lack of Standardization
  3.2.2. Interoperability Issues
3.3. Market Opportunities
  3.3.1. Expansion in Developing Countries
  3.3.2. Adoption of IoT and AI Technologies
  3.3.3. Growing Investment in Renewable Energy

CHAPTER 4. GLOBAL SMART GRID IT SYSTEMS MARKET INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
  4.1.6. Futuristic Approach to Porter’s 5 Force Model
  4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
  4.2.1. Political
  4.2.2. Economical
  4.2.3. Social
  4.2.4. Technological
  4.2.5. Environmental
  4.2.6. Legal
4.3. Top Investment Opportunity
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL SMART GRID IT SYSTEMS MARKET SIZE & FORECASTS BY APPLICATION 2022-2032

5.1. Segment Dashboard
5.2. Global Smart Grid IT Systems Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
  5.2.1. EMS (Energy Management Systems)
  5.2.2. DMS (Distribution Management Systems)
  5.2.3. OMS (Outage Management Systems)
  5.2.4. Data Analytics

CHAPTER 6. GLOBAL SMART GRID IT SYSTEMS MARKET SIZE & FORECASTS BY END-USER 2022-2032

6.1. Segment Dashboard
6.2. Global Smart Grid IT Systems Market: End-user Revenue Trend Analysis, 2022 & 2032 (USD Billion)
  6.2.1. Residential
  6.2.2. Commercial
  6.2.3. Industrial

CHAPTER 7. GLOBAL SMART GRID IT SYSTEMS MARKET SIZE & FORECASTS BY REGION 2022-2032

7.1. North America Smart Grid IT Systems Market
  7.1.1. U.S. Smart Grid IT Systems Market
    7.1.1.1. Application breakdown size & forecasts, 2022-2032
    7.1.1.2. End-user breakdown size & forecasts, 2022-2032
  7.1.2. Canada Smart Grid IT Systems Market
7.2. Europe Smart Grid IT Systems Market
  7.2.1. U.K. Smart Grid IT Systems Market
  7.2.2. Germany Smart Grid IT Systems Market
  7.2.3. France Smart Grid IT Systems Market
  7.2.4. Spain Smart Grid IT Systems Market
  7.2.5. Italy Smart Grid IT Systems Market
  7.2.6. Rest of Europe Smart Grid IT Systems Market
7.3. Asia-Pacific Smart Grid IT Systems Market
  7.3.1. China Smart Grid IT Systems Market
  7.3.2. India Smart Grid IT Systems Market
  7.3.3. Japan Smart Grid IT Systems Market
  7.3.4. Australia Smart Grid IT Systems Market
  7.3.5. South Korea Smart Grid IT Systems Market
  7.3.6. Rest of Asia Pacific Smart Grid IT Systems Market
7.4. Latin America Smart Grid IT Systems Market
  7.4.1. Brazil Smart Grid IT Systems Market
  7.4.2. Mexico Smart Grid IT Systems Market
  7.4.3. Rest of Latin America Smart Grid IT Systems Market
7.5. Middle East & Africa Smart Grid IT Systems Market
  7.5.1. Saudi Arabia Smart Grid IT Systems Market
  7.5.2. South Africa Smart Grid IT Systems Market
  7.5.3. Rest of Middle East & Africa Smart Grid IT Systems Market

CHAPTER 8. COMPETITIVE INTELLIGENCE

8.1. Key Company SWOT Analysis
  8.1.1. Company
  8.1.2. Company
  8.1.3. Company
8.2. Top Market Strategies
8.3. Company Profiles
  8.3.1. Cisco Systems Inc.
    8.3.1.1. Key Information
    8.3.1.2. Overview
    8.3.1.3. Financial (Subject to Data Availability)
    8.3.1.4. Product Summary
    8.3.1.5. Market Strategies
  8.3.2. Siemens AG
  8.3.3. Honeywell International Inc.
  8.3.4. International Business Machines Corp.
  8.3.5. Itron Inc.
  8.3.6. Eaton Corp. Plc
  8.3.7. ENEL X srl
  8.3.8. Globema SP Z O O
  8.3.9. Oracle Corp.
  8.3.10. SAP SE
  8.3.11. TANTALUS SYSTEM HOLDING INC.
  8.3.12. Tech Mahindra Ltd.

CHAPTER 9. RESEARCH PROCESS

9.1. Research Process
  9.1.1. Data Mining
  9.1.2. Analysis
  9.1.3. Market Estimation
  9.1.4. Validation
  9.1.5. Publishing
9.2. Research Attributes

LIST OF TABLES

TABLE 1. Global Smart Grid IT Systems market, report scope
TABLE 2. Global Smart Grid IT Systems market estimates & forecasts by Region 2022-2032 (USD Billion)
TABLE 3. Global Smart Grid IT Systems market estimates & forecasts by Application 2022-2032 (USD Billion)
TABLE 4. Global Smart Grid IT Systems market estimates & forecasts by End-user 2022-2032 (USD Billion)
TABLE 5. Global Smart Grid IT Systems market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 6. Global Smart Grid IT Systems market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 7. Global Smart Grid IT Systems market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 8. Global Smart Grid IT Systems market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 9. Global Smart Grid IT Systems market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 10. Global Smart Grid IT Systems market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 11. Global Smart Grid IT Systems market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 12. Global Smart Grid IT Systems market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 13. Global Smart Grid IT Systems market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 14. Global Smart Grid IT Systems market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 15. U.S. Smart Grid IT Systems market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 16. U.S. Smart Grid IT Systems market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 17. U.S. Smart Grid IT Systems market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 18. Canada Smart Grid IT Systems market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 19. Canada Smart Grid IT Systems market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 20. Canada Smart Grid IT Systems market estimates & forecasts by segment 2022-2032 (USD Billion)
…..
This list is not complete, final report does contain more than 100 tables. The list may be updated in the final deliverable.

LIST OF FIGURES

FIG 1. Global Smart Grid IT Systems market, research methodology
FIG 2. Global Smart Grid IT Systems market, market estimation techniques
FIG 3. Global market size estimates & forecast methods.
FIG 4. Global Smart Grid IT Systems market, key trends 2023
FIG 5. Global Smart Grid IT Systems market, growth prospects 2022-2032
FIG 6. Global Smart Grid IT Systems market, porters 5 force model
FIG 7. Global Smart Grid IT Systems market, PESTEL analysis
FIG 8. Global Smart Grid IT Systems market, value chain analysis
FIG 9. Global Smart Grid IT Systems market by segment, 2022 & 2032 (USD Billion)
FIG 10. Global Smart Grid IT Systems market by segment, 2022 & 2032 (USD Billion)
FIG 11. Global Smart Grid IT Systems market by segment, 2022 & 2032 (USD Billion)
FIG 12. Global Smart Grid IT Systems market by segment, 2022 & 2032 (USD Billion)
FIG 13. Global Smart Grid IT Systems market by segment, 2022 & 2032 (USD Billion)
FIG 14. Global Smart Grid IT Systems market, regional snapshot 2022 & 2032
FIG 15. North America Smart Grid IT Systems market 2022 & 2032 (USD Billion)
FIG 16. Europe Smart Grid IT Systems market 2022 & 2032 (USD Billion)
FIG 17. Asia Pacific Smart Grid IT Systems market 2022 & 2032 (USD Billion)
FIG 18. Latin America Smart Grid IT Systems market 2022 & 2032 (USD Billion)
FIG 19. Middle East & Africa Smart Grid IT Systems market 2022 & 2032 (USD Billion)
FIG 20. Global Smart Grid IT Systems market, company market share analysis (2023)
…..
This list is not complete, final report does contain more than 50 figures. The list may be updated in the final deliverable.


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