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Smart Grid Market by Software (AMI, Grid Distribution, Grid Network, Grid Asset, Grid Security, Substation Automation, and Billing & CIS), Hardware (Smart Meter), Service (Consulting, Integration, and Support), and Region - Global Forecast to 2023

Smart Grid Market by Software (AMI, Grid Distribution, Grid Network, Grid Asset, Grid Security, Substation Automation, and Billing & CIS), Hardware (Smart Meter), Service (Consulting, Integration, and Support), and Region - Global Forecast to 2023

Increasing focus on effective management and modernizing aging grid infrastructure to drive the overall smart grid market
The global smart grid market size is expected to grow from USD 23.8 billion in 2018 to USD 61.3 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 20.9% during the forecast period. Major growth factors for the market include the need for effective management of smart grid operations, modernization of aging grid infrastructure, and the need for specialized service providers who can offer cost-effective services. However, the high initial cost for deployment of smart grid technology solutions can hinder the market growth.

Smart grid distribution management software to grow at the highest CAGR during the forecast period
In recent years, renewable energy sources have gained significance. The development of the smart grid technology has benefitted traditional energy infrastructure vendors and offered business opportunities for emerging players planning to capitalize on the untapped market opportunities. Key growth drivers of the smart grid distribution management/ADM market include the growing smart grid technology market, increasing adoption of distributed renewable generation, and regulatory pressure for reducing carbon emission.

Deployment and integration services segment to hold the largest market size during the forecast period
Deployment and integration services in the energy sector help in streamlining business applications by adequate installation and integration of various modules of utility smart grid operations. These services help in overcoming various business challenges, creating high growth opportunities, and accelerating technological innovations. Hence, enterprises opt these services to make the whole deployment and integration process smooth and reduce costs and inefficiencies.

Asia Pacific (APAC) to record the highest growth rate during the forecast period
APAC is expected to grow at the highest CAGR during the forecast period, as the rapidly increasing consumption of power in major APAC countries, such as China, India, and Japan, has driven the need to introduce new measures to generate, distribute, or use electricity efficiently. Also, they have finally realized advantages in the smart grid industry and developed a comprehensive roadmap to leverage these assets toward a countrywide smart grid infrastructure development. Meanwhile, North America is projected to hold the largest market size during the forecast period.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the smart grid marketplace. The following is the breakup of primary participants’ profiles:
By company type: Tier 1 - 38%, Tier 2 - 41%, and Tier 3 - 21%
By designation: C-level - 40%, D-level - 28%, and Others - 32%
By region: North America - 34%, APAC - 32%, Europe- 22%, and RoW- 12%

Major vendors offering smart grid solutions and services across the globe include General Electric (GE; US), ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Itron (US), Landis+Gyr (Switzerland), Aclara (US), Cisco (US), OSI (US), IBM (US), Wipro (India), Honeywell (US), Oracle (US), S&C Electric Company (US), Eaton (Ireland), Kamstrup (Denmark), Trilliant Holdings (US), Globema (Poland), Tech Mahindra (India), Enel X North America (US), eSmart Systems (Norway), Tanatalus (US), EsyaSoft (India), Grid4C (US), and C3 Energy (US). The study includes an in-depth competitive analysis of these key players in the smart grid market, with their company profiles, recent developments, and key market strategies.

Research coverage
The market study covers the smart grid market size across segments. It aims at estimating the market size and the growth potential of the market across segments, such as software, service, hardware, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key benefits of buying the report
The report will help the market leaders/new entrants in the global smart grid market with information on the closest approximations of the revenue numbers for the overall market and the subsegments. The report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.


  • INTRODUCTION
    • OBJECTIVES OF THE STUDY
    • MARKET DEFINITION
    • MARKET SEGMENTATION
    • COUNTRY COVERAGE
    • YEARS CONSIDERED FOR THE STUDY
    • CURRENCY CONSIDERED
      • Table UNITED STATES DOLLAR EXCHANGE RATE, 2015-2017
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • BREAKUP OF PRIMARIES
      • KEY INDUSTRY INSIGHTS
    • MARKET BREAKDOWN AND DATA TRIANGULATION
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • ASSUMPTIONS FOR THE STUDY
    • LIMITATIONS OF THE STUDY
  • EXECUTIVE SUMMARY
  • PREMIUM INSIGHTS
    • ATTRACTIVE OPPORTUNITIES IN THE SMART GRID MARKET
    • SMART GRID MARKET IN NORTH AMERICA, BY COMPONENT AND COUNTRY
    • SMART GRID MARKET: MAJOR COUNTRIES
  • MARKET OVERVIEW AND INDUSTRY TRENDS
    • INTRODUCTION
    • SMART GRID ECOSYSTEM
    • SMART GRID MANAGEMENT
      • GENERATION
      • TRANSMISSION
      • DISTRIBUTION
      • CONSUMPTION
    • TOP SMART GRID PROJECTS WORLDWIDE
    • STRATEGIC BENCHMARKING
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
  • SMART GRID MARKET, BY COMPONENT
    • INTRODUCTION
      • Table SMART GRID MARKET SIZE, BY COMPONENT, 2016-2023 (USD MILLION)
      • Table SMART GRID MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
    • SOFTWARE
      • NEED FOR EFFECTIVE MANAGEMENT OF SMART GRID OPERATIONS IS DRIVING THE GROWTH OF THE SOFTWARE SEGMENT
        • Table SOFTWARE: SMART GRID MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
    • HARDWARE
      • RISING ADOPTION OF SMART METER ACROSS THE GLOBE IS DRIVING THE GROWTH OF THE HARDWARE SEGMENT
        • Table HARDWARE: SMART GRID MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
    • SERVICES
      • GROWING NEED TO IMPROVE SMART GRID CUSTOMER SERVICES IS DRIVING THE GROWTH OF THE SERVICES SEGMENT
        • Table SERVICES: SMART GRID MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
  • SMART GRID MARKET, BY SOFTWARE
    • INTRODUCTION
      • Table SMART GRID MARKET SIZE, BY SOFTWARE, 2016-2023 (USD MILLION)
    • ADVANCED METERING INFRASTRUCTURE
      • GOVERNMENT REGULATIONS AND MANDATES BY LEGISLATIVE BODIES, RISE IN GLOBAL ENERGY USAGE, AND COST-EFFECTIVE CARBON SAVINGS ARE THE MAJOR GROWTH DRIVERS OF THE AMI SEGMENT
        • Table ADVANCED METERING INFRASTRUCTURE: SMART GRID MARKET SIZE, BY TYPE, 2016-2023 (USD MILLION)
        • Table ADVANCED METERING INFRASTRUCTURE: SMART GRID MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
      • METER DATA MANAGEMENT
      • ANALYTICS
    • SMART GRID DISTRIBUTION MANAGEMENT
      • INCREASING ADOPTION OF DISTRIBUTED RENEWABLE GENERATION IS DRIVING THE GROWTH OF THE SMART GRID DISTRIBUTION MANAGEMENT SEGMENT
        • Table SMART GRID DISTRIBUTION MANAGEMENT: SMART GRID MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
      • SUPERVISORY CONTROL AND DATA ACQUISITION
      • DEMAND RESPONSE MANAGEMENT
      • OUTAGE MANAGEMENT
      • DISTRIBUTED ENERGY RESOURCE MANAGEMENT
      • ENERGY MANAGEMENT SYSTEM
      • DISTRIBUTION AUTOMATION
    • SMART GRID NETWORK MANAGEMENT
      • THE INCREASING SHARE OF RENEWABLE ENERGY AND THE INABILITY OF TRADITIONAL ELECTRICITY GRIDS TO TRANSMIT RENEWABLE ENERGY ARE DRIVING THE GROWTH OF THE SMART GRID NETWORK MANAGEMENT SEGMENT
        • Table SMART GRID NETWORK MANAGEMENT: SMART GRID MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
      • NETWORK TRAFFIC MANAGEMENT
      • NETWORK DEVICE MANAGEMENT
      • NETWORK CONFIGURATION MANAGEMENT
      • NETWORK SECURITY MANAGEMENT
      • NETWORK PERFORMANCE MONITORING MANAGEMENT
    • GRID ASSET MANAGEMENT
      • NEED TO REDUCE THE COST ASSOCIATED WITH FAILURE AND REPAIR OF GRID ASSETS IS SPURRING THE ADOPTION OF THE GRID ASSET MANAGEMENT SEGMENT
        • Table GRID ASSET MANAGEMENT: SMART GRID MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
      • CONDITION AND PERFORMANCE MONITORING
      • PREDICTIVE MAINTENANCE
      • ASSET DATA MANAGEMENT
    • SUBSTATION AUTOMATION
      • BENEFITS OF PREVENTING BLACKOUTS AND FASTER POWER RECOVERY ARE PROPELLING THE ADOPTION OF THE SUBSTATION AUTOMATION SOFTWARE
        • Table SUBSTATION AUTOMATION: SMART GRID MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
      • PRODUCTION MANAGEMENT
      • PERFORMANCE MANAGEMENT
    • SMART GRID SECURITY
      • INCREASING INSTANCES OF VARIOUS CYBER-ATTACKS ON SMART GRIDS IS DRIVING THE GROWTH OF THE SMART GRID SECURITY SEGMENT
        • Table SMART GRID SECURITY: SMART GRID MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
    • BILLING AND CUSTOMER INFORMATION SYSTEM
      • GROWING DEMAND FOR EFFICIENT BILLING AND COLLECTION CAPABILITIES IS DRIVING THE GROWTH OF THE BILLING AND CUSTOMER INFORMATION SYSTEM SEGMENT
        • Table BILLING AND CUSTOMER INFORMATION SYSTEM: SMART GRID MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
  • SMART GRID MARKET, BY HARDWARE
    • INTRODUCTION
      • Table HARDWARE: SMART GRID MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
    • SMART METER
      • GOVERNMENT POLICIES, ENERGY SAVINGS, AND INVESTMENTS IN EFFICIENT DISTRIBUTION NETWORKS ARE THE DRIVING FACTORS FOR THE GROWTH OF THE SMART METER SEGMENT
  • SMART GRID MARKET, BY SERVICE
    • INTRODUCTION
      • Table SMART GRID MARKET SIZE, BY SERVICE, 2016-2023 (USD MILLION)
    • CONSULTING
      • NEED TO DELIVER MAXIMUM PRODUCT ASSURANCE IS DRIVING THE GROWTH OF THE CONSULTING SEGMENT
        • Table CONSULTING: SMART GRID MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
    • DEPLOYMENT AND INTEGRATION
      • STREAMLINING OPERATIONS OF THE SMART GRID COMPONENTS IS DRIVING THE GROWTH OF THE DEPLOYMENT AND INTEGRATION SEGMENT
        • Table DEPLOYMENT AND INTEGRATION: SMART GRID MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
    • SUPPORT AND MAINTENANCE
      • REDUCED DOWNTIME OF OPERATIONS AND HIGHER PRODUCTIVITY OF SMART GRIDS ARE THE DRIVING FACTORS OF THE SUPPORT AND MAINTENANCE SEGMENT
        • Table SUPPORT AND MAINTENANCE: SMART GRID MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
  • SMART GRID MARKET, BY REGION
    • INTRODUCTION
    • NORTH AMERICA
      • Table NORTH AMERICA: SMART GRID MARKET SIZE, BY COUNTRY, 2016-2023 (USD MILLION)
      • UNITED STATES
      • CANADA
        • Table NORTH AMERICA: SMART GRID MARKET SIZE, BY COMPONENT, 2016-2023 (USD MILLION)
        • Table NORTH AMERICA: SMART GRID MARKET SIZE, BY SOFTWARE, 2016-2023 (USD MILLION)
        • Table NORTH AMERICA: SMART GRID MARKET SIZE, BY SERVICE, 2016-2023 (USD MILLION)
        • Table NORTH AMERICA: SMART GRID MARKET SIZE, BY ADVANCE METERING INFRASTRUCTURE TYPE, 2016-2023 (USD MILLION)
    • EUROPE
      • Table EUROPE: SMART GRID MARKET SIZE, BY COUNTRY, 2016-2023 (USD MILLION)
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • REST OF EUROPE
        • Table EUROPE: SMART GRID MARKET SIZE, BY COMPONENT, 2016-2023 (USD MILLION)
        • Table EUROPE: SMART GRID MARKET SIZE, BY SOFTWARE, 2016-2023 (USD MILLION)
        • Table EUROPE: SMART GRID MARKET SIZE, BY SERVICE, 2016-2023 (USD MILLION)
        • Table EUROPE: SMART GRID MARKET SIZE, BY ADVANCE METERING INFRASTRUCTURE TYPE, 2016-2023 (USD MILLION)
    • ASIA PACIFIC
      • Table ASIA PACIFIC: SMART GRID MARKET SIZE, BY COUNTRY, 2016-2023 (USD MILLION)
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • REST OF ASIA PACIFIC
        • Table ASIA PACIFIC: SMART GRID MARKET SIZE, BY COMPONENT, 2016-2023 (USD MILLION)
        • Table ASIA PACIFIC: SMART GRID MARKET SIZE, BY SOFTWARE, 2016-2023 (USD MILLION)
        • Table ASIA PACIFIC: SMART GRID MARKET SIZE, BY SERVICE, 2016-2023 (USD MILLION)
        • Table ASIA PACIFIC: SMART GRID MARKET SIZE, BY ADVANCE METERING INFRASTRUCTURE TYPE, 2016-2023 (USD MILLION)
    • MIDDLE EAST AND AFRICA
      • Table MIDDLE EAST AND AFRICA: SMART GRID MARKET SIZE, BY COUNTRY, 2016-2023 (USD MILLION)
      • KINGDOM OF SAUDI ARABIA
      • QATAR
      • UNITED ARAB EMIRATES
      • SOUTH AFRICA
      • REST OF MIDDLE EAST AND AFRICA
        • Table MIDDLE EAST AND AFRICA: SMART GRID MARKET SIZE, BY COMPONENT, 2016-2023 (USD MILLION)
        • Table MIDDLE EAST AND AFRICA: SMART GRID MARKET SIZE, BY SOFTWARE, 2016-2023 (USD MILLION)
        • Table MIDDLE EAST AND AFRICA: SMART GRID MARKET SIZE, BY SERVICE, 2016-2023 (USD MILLION)
        • Table MIDDLE EAST AND AFRICA: SMART GRID MARKET SIZE, BY ADVANCE METERING INFRASTRUCTURE TYPE, 2016-2023 (USD MILLION)
    • LATIN AMERICA
      • Table LATIN AMERICA: SMART GRID MARKET SIZE, BY COUNTRY, 2016-2023 (USD MILLION)
      • BRAZIL
      • MEXICO
      • REST OF LATIN AMERICA
        • Table LATIN AMERICA: SMART GRID MARKET SIZE, BY COMPONENT, 2016-2023 (USD MILLION)
        • Table LATIN AMERICA: SMART GRID MARKET SIZE, BY SOFTWARE, 2016-2023 (USD MILLION)
        • Table LATIN AMERICA: SMART GRID MARKET SIZE, BY SERVICE, 2016-2023 (USD MILLION)
        • Table LATIN AMERICA: SMART GRID MARKET SIZE, BY ADVANCE METERING INFRASTRUCTURE TYPE, 2016-2023 (USD MILLION)
  • COMPETITIVE LANDSCAPE
    • OVERVIEW
    • RANKING OF KEY PLAYERS
    • COMPETITIVE SCENARIO
      • NEW PRODUCT LAUNCHES AND UPGRADATIONS
        • Table NEW PRODUCT LAUNCHES AND UPGRADATIONS, 2018
      • MERGERS AND ACQUISITIONS
        • Table MERGERS AND ACQUISITIONS, 2017-2018
      • PARTNERSHIPS, COLLABORATIONS, AND AGREEMENTS
        • Table PARTNERSHIPS, COLLABORATIONS, AND AGREEMENTS, 2017-2018
  • COMPANY PROFILES
    • INTRODUCTION
    • GE
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • ABB
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES AND SERVICES OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • SIEMENS
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • SCHNEIDER ELECTRIC
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES AND SERVICES OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • ITRON
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • LANDIS+GYR
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES AND SERVICES OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • ACLARA
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • CISCO
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • OSI
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • IBM
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • WIPRO
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • ORACLE
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES AND SERVICES OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • HONEYWELL
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES OFFERED
      • RECENT DEVELOPMENTS
    • S&C ELECTRIC COMPANY
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES OFFERED
      • RECENT DEVELOPMENTS
    • EATON
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • KAMSTRUP
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES OFFERED
      • RECENT DEVELOPMENTS
    • TRILLIANT HOLDINGS
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES OFFERED
    • GLOBEMA
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES OFFERED
    • TECH MAHINDRA
      • BUSINESS OVERVIEW
      • SERVICES OFFERED
    • ENEL X NORTH AMERICA
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES OFFERED
    • FUJITSU
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES OFFERED
      • RECENT DEVELOPMENTS
    • ESMART SYSTEMS
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES OFFERED
    • TANTALUS
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES OFFERED
    • ESYASOFT TECHNOLOGIES
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES OFFERED
    • GRID4C
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES OFFERED
    • C3 ENERGY
      • BUSINESS OVERVIEW
      • SOLUTIONS/MODULES OFFERED
  • APPENDIX
    • INDUSTRY EXCERPTS
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

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