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Smart Grid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

  • ID: 5547117
  • Report
  • February 2022
  • Region: Global
  • 108 Pages
  • IMARC Group

FEATURED COMPANIES

  • ABB
  • Eaton
  • Fujitsu
  • Honeywell
  • Itron
  • Schneider Electric
The global smart grid market reached a value of US$ 44.3 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 125.8 Billion by 2027, exhibiting a CAGR of 18.8% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

A smart grid refers to an electronic network that is used to supply power through a two-way digital communication system. It enables the real-time collection of data regarding the electricity demand and supply during the transmission and distribution process. Smart grid majorly utilizes devices such as smart sensors and power meters to automate billing data collection and detect device failures, and superconducting cables to provide long-distance power transmission through wireless communication tools. These grids are equipped to repair themselves, ensure a consistent power supply without leakages and promote consumer engagement in grid operations, which aid in improving the overall efficiency and reducing the costs of energy production.

Growing energy demand across the globe, along with rapid urbanization and the emerging trend of digitalization, is one of the key factors driving the market growth. Smart grids are being utilized for renovating the existing grid infrastructure and introducing software-based architecture in emerging nations. Furthermore, the proliferation of distributed energy sources such as photovoltaic (PV), geothermal and hydroelectric power is favoring the market growth. These sources allow on-site generation and storage of electricity through microgrids and various connected devices. Additionally, the integration of smart grids with cloud technology has facilitated the analysis of current energy usage and pattern monitoring to address the concerns regarding environment protection and energy conservation. Other factors, including favorable government policies, the development of smart cities across the globe and an increasing number of research and development (R&D) activities, are projected to drive the market further.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global smart grid market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on component and end-user.

Breakup by Component:

  • Software
  • Advanced Metering Infrastructure
  • Smart Grid Distribution Management
  • Smart Grid Network Management
  • Substation Automation
  • Others
  • Hardware
  • Sensor
  • Programmable Logic Controller
  • AMI Metre
  • Networking Hardware
  • Others
  • Services
  • Consulting
  • Support and Maintenance
  • Deployment and Integration

Breakup by End-User:

  • Residential
  • Commercial
  • Industrial

Breakup by Region:

  • Asia Pacific
  • Europe
  • North America
  • Middle East and Africa
  • Latin America

Competitive Landscape:


The report has also analyzed the competitive landscape of the market with some of the key players being CISCO Systems, IBM Corporation, Siemens AG, Schneider Electric, Wipro, General Electric, Honeywell, Oracle Corporation, ABB, Itron, Fujitsu, Eaton, Tantalus, eSmart Systems, etc.

The publisher’s latest report provides a deep insight into the global smart grid market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the smart grid market in any manner.

Key Questions Answered in this Report:

  • How has the global smart grid market performed so far and how will it perform in the coming years?
  • What are the key regional markets in the global smart grid industry?
  • What has been the impact of COVID-19 on the global smart grid market?
  • What is the breakup of the market based on the component?
  • What is the breakup of the market based on the software?
  • What is the breakup of the market based on the hardware?
  • What is the breakup of the market based on the services?
  • What is the breakup of the market based on the end-user?
  • What are the various stages in the value chain of the global smart grid industry?
  • What are the key driving factors and challenges in the global smart grid industry?
  • What is the structure of the global smart grid industry and who are the key players?
  • What is the degree of competition in the global smart grid industry?
Frequently Asked Questions about the Global Smart Grid Market

What is the estimated value of the Global Smart Grid Market?

The Global Smart Grid Market was estimated to be valued at $44.3 Billion in 2021.

What is the growth rate of the Global Smart Grid Market?

The growth rate of the Global Smart Grid Market is 19.0%, with an estimated value of $125.8 Billion by 2027.

What is the forecasted size of the Global Smart Grid Market?

The Global Smart Grid Market is estimated to be worth $125.8 Billion by 2027.

Who are the key companies in the Global Smart Grid Market?

Key companies in the Global Smart Grid Market include CISCO Systems, IBM Corporation, Siemens AG, Schneider Electric, Wipro, General Electric, Honeywell, Oracle Corporation and Itron.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • ABB
  • Eaton
  • Fujitsu
  • Honeywell
  • Itron
  • Schneider Electric

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Smart Grid Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Component
5.5 Market Breakup by End-User
5.6 Market Breakup by Region
5.7 Market Forecast
6 Market Breakup by Component
6.1 Software
6.1.1 Market Trends
6.1.2 Market Breakup by Type
6.1.2.1 Advanced Metering Infrastructure
6.1.2.1.1 Market Trends
6.1.2.1.2 Market Forecast
6.1.2.2 Smart Grid Distribution Management
6.1.2 2.1 Market Trends
6.1.2.2.2 Market Forecast
6.1.2.3 Smart Grid Network Management
6.1.2.3.1 Market Trends
6.1.2.3.2 Market Forecast
6.1.2.4 Substation Automation
6.1.2.4.1 Market Trends
6.1.2.4.2 Market Forecast
6.1.2.5 Others
6.1.2.5.1 Market Trends
6.1.2.5.2 Market Forecast
6.1.3 Market Forecast
6.2 Hardware
6.2.1 Market Trends
6.2.2 Market Breakup by Type
6.2.2.1 Sensor
6.2.2.1.1 Market Trends
6.2.2.1.2 Market Forecast
6.2.2.2 Programmable Logic Controller
6.2.2 2.1 Market Trends
6.2.2.2.2 Market Forecast
6.2.2.3 AMI Metre
6.2.2.3.1 Market Trends
6.2.2.3.2 Market Forecast
6.2.2.4 Networking Hardware
6.2.2.4.1 Market Trends
6.2.2.4.2 Market Forecast
6.2.2.5 Others
6.2.2.5.1 Market Trends
6.2.2.5.2 Market Forecast
6.2.3 Market Forecast
6.3 Services
6.3.1 Market Trends
6.3.2 Market Breakup by Type
6.3.2.1 Consulting
6.3.2.1.1 Market Trends
6.3.2.1.2 Market Forecast
6.3.2.2 Support and Maintenance
6.3.2 2.1 Market Trends
6.3.2.2.2 Market Forecast
6.3.2.3 Deployment and Integration
6.3.2.3.1 Market Trends
6.3.2.3.2 Market Forecast
6.3.3 Market Forecast
7 Market Breakup by End-User
7.1 Residential
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Commercial
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Industrial
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Region
8.1 Asia Pacific
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Europe
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 North America
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Middle East and Africa
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Latin America
8.5.1 Market Trends
8.5.2 Market Forecast
9 SWOT Analysis
9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats
10 Value Chain Analysis
11 Porter’s Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 Competitive Landscape
12.1 Market Structure
12.2 Key Players
12.3 Profiles of Key Players
12.3.1 CISCO Systems
12.3.2 IBM Corporation
12.3.3 Siemens AG
12.3.4 Schneider Electric
12.3.5 Wipro
12.3.6 General Electric
12.3.7 Honeywell
12.3.8 Oracle Corporation
12.3.9 ABB
12.3.10 Itron
12.3.11 Fujitsu
12.3.12 Eaton
12.3.13 Tantalus
12.3.14 eSmart Systems
List of Figures
Figure 1: Global: Smart Grid Market: Major Drivers and Challenges
Figure 2: Global: Smart Grid Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Smart Grid Market: Breakup by Component (in %), 2021
Figure 4: Global: Smart Grid Market: Breakup by Software (in %), 2021
Figure 5: Global: Smart Grid Market: Breakup by Hardware (in %), 2021
Figure 6: Global: Smart Grid Market: Breakup by Service (in %), 2021
Figure 7: Global: Smart Grid Market: Breakup by End-User (in %), 2021
Figure 8: Global: Smart Grid Market: Breakup by Region (in %), 2021
Figure 9: Global: Smart Grid Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 10: Global: Smart Grid Industry: SWOT Analysis
Figure 11: Global: Smart Grid Industry: Value Chain Analysis
Figure 12: Global: Smart Grid Industry: Porter’s Five Forces Analysis
Figure 13: Global: Smart Grid (Software) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Smart Grid (Software) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Smart Grid (Hardware) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Smart Grid (Hardware) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Smart Grid (Services) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Smart Grid (Services) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Smart Grid (Advanced Metering Infrastructure) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Smart Grid (Advanced Metering Infrastructure) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Smart Grid (Smart Grid Distribution Management) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Smart Grid (Smart Grid Distribution Management) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Smart Grid (Smart Grid Network Management) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Smart Grid (Smart Grid Network Management) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Smart Grid (Substation Automation) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Smart Grid (Substation Automation) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Smart Grid (Other Softwares) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Smart Grid (Other Softwares) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Smart Grid (Sensor) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Smart Grid (Sensor) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Global: Smart Grid (Programmable Logic Controller) Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Global: Smart Grid (Programmable Logic Controller) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Global: Smart Grid (AMI Metre) Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Global: Smart Grid (AMI Metre) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Global: Smart Grid (Networking Hardware) Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Global: Smart Grid (Networking Hardware) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Global: Smart Grid (Others) Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Global: Smart Grid (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Global: Smart Grid (Consulting) Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Global: Smart Grid (Consulting) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Global: Smart Grid (Support and Maintenance) Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Global: Smart Grid (Support and Maintenance) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Global: Smart Grid (Deployment and Integration) Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Global: Smart Grid (Deployment and Integration) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Global: Smart Grid (Residential) Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: Global: Smart Grid (Residential) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Global: Smart Grid (Commercial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Global: Smart Grid (Commercial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Global: Smart Grid (Industrial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Global: Smart Grid (Industrial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Asia Pacific: Smart Grid Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Asia Pacific: Smart Grid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Europe: Smart Grid Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Europe: Smart Grid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: North America: Smart Grid Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: North America: Smart Grid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Middle East and Africa: Smart Grid Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Middle East and Africa: Smart Grid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Latin America: Smart Grid Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Latin America: Smart Grid Market Forecast: Sales Value (in Million US$), 2022-2027
List of Tables
Table 1: Global: Smart Grid Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Smart Grid Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 3: Global: Smart Grid Market Forecast: Breakup by Software (in Million US$), 2022-2027
Table 4: Global: Smart Grid Market Forecast: Breakup by Hardware (in Million US$), 2022-2027
Table 5: Global: Smart Grid Market Forecast: Breakup by Service (in Million US$), 2022-2027
Table 6: Global: Smart Grid Market Forecast: Breakup by End-User (in Million US$), 2022-2027
Table 7: Global: Smart Grid Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 8: Global: Smart Grid Market: Competitive Structure
Table 9: Global: Smart Grid Market: Key Players
Note: Product cover images may vary from those shown
  • CISCO Systems
  • IBM Corporation
  • Siemens AG
  • Schneider Electric
  • Wipro
  • General Electric
  • Honeywell
  • Oracle Corporation
  • ABB
  • Itron
  • Fujitsu
  • Eaton
  • Tantalus
  • eSmart Systems
Note: Product cover images may vary from those shown

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