Global Smart Grid Market (2021-2026) by Component, Software Type, Services, Technology, Application, End-User, and Geography, IGR Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Global Smart Grid Market (2021-2026) by Component, Software Type, Services, Technology, Application, End-User, and Geography, IGR Competitive Analysis, Impact of Covid-19, Ansoff Analysis


The Global Smart Grid Market is estimated to be USD 41.1 Bn in 2021 and is expected to reach USD 105.72 Bn by 2026, growing at a CAGR of 20.8 %.

Market Dynamics

The growing electricity consumption by the masses has led to a high need to produce efficient energy management systems. Moreover, the growing irregularities in traditional grid systems, such as high energy wastage, impact individuals and enterprises economically and degrade environmental resources. Various countries are on track to reach 100% renewable energy by 2050. The government initiatives to decrease energy consumption by more than 30% and generate about half of the remaining energy needs from renewable sources by 2030. Smart grids enable more efficient electricity transmission, reduce operations and management costs for utilities, ultimately lower power costs for consumers, and increase large-scale renewable energy systems integration. These factors are anticipated to increase the market revenue during the forecast period.
Conversely, the high costs of developing and deploying a smart grid system along with high vulnerabilities to data threats are restraining the market growth of the smart grid market.

Market Segmentation

The Global Smart Grid Market is segmented further based on Component, Software Type, Services, Technology, Application, End-User, and Geography.

By Component, the market is classified as Software, Hardware, And Services. Amongst the two, the Software segment is estimated to hold the highest market share.

By Software Type, the market is segmented as Advanced Metering Infrastructure, Smart Grid Distribution Management, Smart Grid Network Management, Grid Asset Management, Substation Automation, Smart Grid Security, and Billing & Customer Information System. Amongst all, the Smart Grid Distribution Management is estimated to hold the highest market share during the forecast period.

By Services, the market is classified as Consulting, Deployment & Integration, and Support & Maintenance. Amongst all, the Deployment and Integration segment holds the highest market share.

By Technology, the market is classified as Smart T&D Equipment, Distribution & Network Automation, Advanced Metering Infrastructure, Consumer Interface, and Communication & Wireless Infrastructure. Amongst all, Smart T&D Equipment is estimated to hold the highest market share.

By Application, the market is classified as Generation, Transmission, Distribution, and Consumption/End-Use. Amongst all, the Distribution and Consumption/End-Use segment is estimated to hold the highest market share.

By End User, the market is classified as Residential, Commercial, and Industrial. Amongst the two, the Commercial segment is estimated to hold the highest market share.

By Geography, North America is projected to lead the market.

Recent Developments

1. Siemens Financial Services, Siemens Industry, and Macquarie’s Green Investment Group (GIG) have formed a new Company, Calibrant Energy. The new company shall provide onsite energy solutions through its Energy-as-a-Service (EaaS) solutions by enabling hybrid systems, standalone batteries, microgrids, etc. to its customers. – 6th October 2020
2. Cisco and Enel expand their corporation to develop smart grid technologies and promote IIoT technologies and cybersecurity processes. -23rd June 2020

Company Profiles

Some of the companies covered in this report are ABB, Siemens, General Electric, Honeywell Elster, Schneider Electric, Belden, Hubbell, Fujitsu, Oracle, Cisco, Wipro, and IBM, etc.

Countries Studied

America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
Middle-East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

IGR Competitive Quadrant

The report includes IGR Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

The report offers a comprehensive evaluation of the Global Smart Grid Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes an in-depth market analysis using Porter’s 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
The report also contains the competitive analysis using IGR Positioning Quadrants, Infogence’s Proprietary competitive positioning tool.

Report Highlights:

A complete analysis of the market, including parent industry
Important market dynamics and trends
Market segmentation
Historical, current, and projected size of the market based on value and volume
Market shares and strategies of key players
Recommendations to companies for strengthening their foothold in the market

Companies Mentioned

Schneider Electric
Open Systems International (Emerson Electric)
General Electric
Cisco Systems
Aclara Technologies (Hubbel)
Honeywell International
Tech Mahindra
Cooper Power Systems (Eaton)
Elster Group (Melrose)
Landis+GYR (Toshiba)
Comverge (Itron)
Echelon (Adesto Technologies)
Grid Net
S&C Electric Company

1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Stakeholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 IGR Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
3.1 Introduction
3.2 Market Size and Segmentation
3.3 Market Outlook
4 Market Influencers
4.1 Drivers
4.1.1 Growing Demand for Electricity
4.1.2 Need For Efficient Energy Management Systems
4.1.3 Increasing Irregularities in Traditional Grid Systems
4.1.4 Favorable Regulatory Policies
4.1.5 Lowering Operational Costs and Reducing Environmental Impacts
4.2 Restraints
4.2.1 High Deployment Costs
4.2.2 Vulnerabilities To Cyber Attacks
4.3 Opportunities
4.3.1 Advancements In the IoT and 5G Technology
4.3.2 Growth Of Smart City Infrastructure
4.3.3 Role Of Advanced Technologies Such as AI And Blockchain in Smart Grid Implementation
4.4 Challenges
4.4.1 Integration And Change Management Issues
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter’s Five Forces Analysis
5.3 Impact of COVID-19
5.4 Ansoff Matrix Analysis
6 Global Smart Grid Market, By Component
6.1 Introduction
6.2 Software
6.3 Hardware
6.4 Services
7 Global Smart Grid Market, By Solution Type
7.1 Introduction
7.2 Advanced Metering Infrastructure
7.3 Smart Grid Distribution Management
7.4 Smart Grid Network Management
7.5 Grid Asset Management
7.6 Substation Automation
7.7 Smart Grid Security
7.8 Billing and Customer Information System
8 Global Smart Grid Market, By Services
8.1 Introduction
8.2 Consulting
8.3 Deployment and Integration
8.4 Support and Maintenance
9 Global Smart Grid Market, By Technology
9.1 Introduction
9.2 Smart T&D Equipment
9.3 Distribution & Network Automation
9.4 Advanced Metering Infrastructure
9.5 Consumer Interface
9.6 Communication & Wireless Infrastructure
10 Global Smart Grid Market, By Application
10.1 Introduction
10.2 Generation
10.3 Transmission
10.4 Distribution
10.5 Consumption/End Use
11 Global Smart Grid Market, By End User
11.1 Introduction
11.2 Residential
11.3 Commercial
11.4 Industrial
12 Global Smart Grid Market, By Geography
12.1 Introduction
12.2 America
12.2.1 Argentina
12.2.2 Brazil
12.2.3 Canada
12.2.4 Chile
12.2.5 Colombia
12.2.6 Mexico
12.2.7 Peru
12.2.8 United States
12.2.9 Rest of Americas
12.3 Europe
12.3.1 Austria
12.3.2 Belgium
12.3.3 Denmark
12.3.4 Finland
12.3.5 France
12.3.6 Germany
12.3.7 Italy
12.3.8 Netherlands
12.3.9 Norway
12.3.10 Poland
12.3.11 Russia
12.3.12 Spain
12.3.13 Sweden
12.3.14 Switzerland
12.3.15 United Kingdom
12.3.16 Rest of Europe
12.4 Middle East and Africa
12.4.1 Egypt
12.4.2 Israel
12.4.3 Qatar
12.4.4 Saudi Arabia
12.4.5 South Africa
12.4.6 United Arab Emirates
12.4.7 Rest of MEA
12.5 Asia-Pacific
12.5.1 Australia
12.5.2 Bangladesh
12.5.3 China
12.5.4 India
12.5.5 Indonesia
12.5.6 Japan
12.5.7 Malaysia
12.5.8 Philippines
12.5.9 Singapore
12.5.10 South Korea
12.5.11 Sri Lanka
12.5.12 Thailand
12.5.13 Taiwan
12.5.14 Rest of Asia-Pacific
13 Competitive Landscape
13.1 IGR Competitive Quadrant
13.2 Market Share Analysis
13.3 Strategic Initiatives
13.3.1 M&A and Investments
13.3.2 Partnerships and Collaborations
13.3.3 Product Developments and Improvements
14 Company Profiles
14.1 Schneider Electric
14.2 Open Systems International (Emerson Electric)
14.3 Oracle
14.4 General Electric
14.5 ABB
14.6 Itron
14.7 Cisco Systems
14.8 Siemens
14.9 Aclara Technologies (Hubbel)
14.10 Honeywell International
14.11 IBM
14.12 Tech Mahindra
14.13 Belden
14.14 Hubbell
14.15 Wipro
14.16 Cooper Power Systems (Eaton)
14.17 Elster Group (Melrose)
14.18 Iskraemeco
14.19 Landis+GYR (Toshiba)
14.20 Comverge (Itron)
14.21 Echelon (Adesto Technologies)
14.22 Grid Net
14.23 S&C Electric Company
15 Appendix
15.1 Questionnaire

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