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 %.
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.
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.
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
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.
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.
A complete analysis of the market, including parent industry
Important market dynamics and trends
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
Open Systems International (Emerson Electric)
Aclara Technologies (Hubbel)
Cooper Power Systems (Eaton)
Elster Group (Melrose)
Echelon (Adesto Technologies)
S&C Electric Company
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