Smart Grid Market Research Report- Global Forecast 2027

Smart Grid Market Research Report — by Components (Hardware (AMI meter, Sensors, PLC), Software, Services (Consulting)), by Technology (Wired, Wireless), by End-User (Residential, Corporate, Government) — Global Forecast till 2027

ID: MRFR/ICT/0604-HCR | February, 2021 | Region : Global

Smart Grid Market Overview:
The smart Grid market is prevalent in the market as an electronically smart network market. This market provides services to the customers that make use of smart digital technology for communications. This network market has the ability to delivering a good amount of electricity to the users. This is not done through a single platform. Instead, different and multiple distributed sources are used for electricity generations. Some of the very common examples of the smart grid market are solar power systems, plug-in hybrid electric vehicles along wind turbine plants put up at various places.


The smart grid market analysis is a sheer representation of how promising the market operations are in the current scenario, as well as, in the forthcoming years. An expectation of more reliable, authentic, and wide availability of the energy industry is prevailing. The global smart grid market is all set to witness growth at a CAGR of 20% in the forecast period till 2023.


COVID 19 Analysis:
There was a halt in major services due to the fatal spread of the coronavirus pandemic. Many industries were at a standstill even though they have promising results to offer. However, there are some industries and markets, where the demand for the services grew. The smart grid market is one of them. With the lockdown imposition, people were at home, thus more need and usage of electricity. There was a good availability of the resources for electricity generation, thus, the industries were producing enough to meet the daily requirements on a global level.


The most prominent example of the same is the work from home culture. This culture demanded proper electricity services and devices for communications. Also, there was a lookout for quick restoration services in the case of power cuts and disturbances. All these factors added to the market growth in both the current, as well as, the forthcoming scenario.


Market Dynamics:


Drivers:


The smart grid industry currently exhibits splendid and out-of-the-box opportunities in the electricity-producing energy industry. There are efforts towards building a smart grid network solution that supports qualified wireless communication. These have various benefits like low cost of operations concerning the employee expenses - on the field. There are reduced costs as well in the medical, transportation, along insurance dimensions.


Opportunities:
The smart grid market forecast is a clear picture showing that the customers can now file complaints and seek redressals concerning the maintenance of the quality of the Smart Grid Market . Also, the customers are now exposed to accessing the real-time data that comes along with billing accuracy. Also, the figures for the estimated bills are quite less. These act as great growth opportunities for the smart grid industry.


Cumulative Growth Analysis:
The smart grid market trends are the foundation base for an era that comes with efficiency, reliability, as well as, availbility of the electricity resources. These factors are known to boost the economic health and imporve the environment health also. Also, there are faster electricity restoration chances, good level of electricity transmission, as well as, integration of different energy resources on a very large scale.


Regulatory Implications:
Even though many government initiatives are lined up, for leading to an increase in the utilization fo the resources, there are some boundaries and implications. There is a need for huge investment initially, to cater to the needs of technology solutions. Also, there are cyber security along with many vulnerabilities prevalent. These tend to increase the implications thus gampering the market’s visibility, on the global level. Also, the question related to the return on investment (RoI) is a big question.


Segment Overview:
Owing to the large customer base and necessity of the services that are provided by the Smart Grid Market share, the market has different segments. The market division is done on the following bases.


On components basis:


This section is inclusive of the services, software, as well as, hardware. Harware has components like AMI meter, networking, programmable logic controller, along with sensors and much more. Software includes smart grid distribution management and communication, AMI, billing along with a system for customer information, supervisiory control and data acquisition (SCADA), AMI, and much more. However, services come inclusive of support and maintenance, consulting, integration, as well as, deployment. 

On technology basis:

The technology prevalent in the Smart Grid Market these days is divided into both wired, as well as, wireless technology. The users of both these are different and choose as per their preference.

On end-users basis:

The end-users stand for the people who make use of these services. There are 3 major group of services like government sector, corporate figures, as well as, residentital individuals.
 
Regional Analysis:
The Smart Grid market forecast depicts a growth for various countries by the end of the forecast period of 2023. The regions belonging to North America, Asian Pacific countries, Euporean antions, as well as, the rest of the world are a part of the forecasting. Currently, the North American regions have a dominant hand in the market being followed by the European nations. This main reason behind this domination is the technology advancements, stabilised networks for electricity in the region, and much more. Also, the government initiatives with respect to power generation are playing well for Europe.

By the end of the forecast period, there is an expectation that the Asian Pacific Nations are expected to undergo major growth. The main reasons behind this are the increased size of investments along with the gearing up of the smart city projects with respect to the control mechanisms. Also, there is an expectation that a grwoing need for smart grids will be witnessed.


Competitive Landscape:
The smart grid global market consists of the understated key players:



  • Wipro Ltd (India)

  • IBM Corporations (US)

  • Schneider Electric SA (France)

  • Open Systems International Inc (US)

  • Oracle Corporations (US)

  • General Electric Company (US)

  • ABB Ltd (Switzerland)

  • Itron Inc (US)

  • Cisco Systems Inc (US)

  • Siemens AG (Germany)

  • Aclara Technologies LLC (US)


ABB Ltd. of Switzerland is an emerging market player. This market has an established network that suppports wireless communication. There are going to be reduced operational costs as well as a significant reduction in the employee expenses working on-field. Also, the medical and insurance costs are expected to be reduced significantly.


Recent Developments:
There is a good chance of new entranats forming a part of this market. The high-scale development of the market is creating oppiortunities for the traditional vendors also. They are liely to get good opportunities with respect to their asset utility. The features are enhances and the functionality well integrates with the smart technologies. The adoption of a model that is service-oriented is going to offer a great deal of products and services with a  view of fulfilling the customers’ requirements. This will also help the new entries in the market to strengthen their position, globally. The technology investments are all set to benefit the new smart grid market aspirants, very well.


ABB, with a view tro strengthen its product portfolio took over the GE Industrial solutions. This increased their hand in the North American market. Also, supplu chain opeartions have been underatken to reduce the cost of power consumption.


However, there is a need for all the competitors on the global level to be felt in an effective manner in competition.


Report Overview:
The smart grid market trends report discusses the following:



  • Market overview

  • COVID 19 analysis

  • Market dynamics

  • Regulatory implications

  • Segment overview

  • Regional analysis

  • Competitive landscape

  • Recent developments


The smart grid market forecatse show the emerging dimensions of the market in prociding quality energy services that are high-end, along with being reliable. The market services are making use of technology by making use of solar power systems, hybrids, and much more. Also, this market is encouraging ways for energy conservations by identifying the shortcomings related to water leaks, as well as, faulty therostats. The segmented market aims to extend the services to private, public, individual, as well as, government entities. Also, the services aim to provide and increase the accuracy levels related to billing accuracy and reducing the estimated bill amounts, too.

TABLE OF CONTENTS

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Porter’s Five Forces Analysis

4.1.1 Threat of New Entrants

4.1.2 Bargaining power of buyers

4.1.3 Threat of substitutes

4.1.4 Segment rivalry

4.2 Value Chain/Supply Chain of Global Smart Grid Market

5 Industry Overview of Global Smart Grid Market

5.1 Introduction

5.2 Growth Drivers

5.3 Impact analysis

5.4 Market Challenges

6 Market Trends

6.1 Introduction

6.2 Growth Trends

6.3 Impact analysis

7. Global Smart Grid Market by Components

7.1 Introduction

7.2 Hardware

7.2.1 AMI Meter

7.2.1.1 Market Estimates & Forecast, 2020–2027

7.2.1.2 Market Estimates & Forecast by Region, 2020–2027

7.2.2 Sensors

7.2.2.1 Market Estimates & Forecast, 2020–2027

7.2.2.2 Market Estimates & Forecast by Region, 2020–2027

7.2.3 Networking hardware

7.2.3.1 Market Estimates & Forecast, 2020–2027

7.2.3.2 Market Estimates & Forecast, by Region, 2020–2027

7.2.4 Programmable Logic Controller (PLC)

7.2.4.1 Market Estimates & Forecast, 2020–2027

7.2.4.2 Market Estimates & Forecast, by Region, 2020–2027

7.2.5 Others

7.2.5.1 Market Estimates & Forecast, 2020–2027

7.2.5.2 Market Estimates & Forecast, by Region, 2020–2027

7.3 Software

7.3.1 Advance Metering Infrastructure (AMI)

7.3.1.1 Market Estimates & Forecast, 2020–2027

7.3.1.2 Market Estimates & Forecast, by Region, 2020–2027

7.3.3 Smart Grid Distribution Management

7.3.3.1 Market Estimates & Forecast, 2020–2027

7.3.3.2 Market Estimates & Forecast, by Region, 2020–2027

7.3.3 Smart Grid Communication

7.3.3.1 Market Estimates & Forecast, 2020–2027

7.3.3.2 Market Estimates & Forecast, by Region, 2020–2027

7.3.4 Grid Asset Management

7.3.4.1 Market Estimates & Forecast, 2020–2027

7.3.4.2 Market Estimates & Forecast, by Region, 2020–2027

7.3.5 Substation Automation & Billing

7.3.5.1 Market Estimates & Forecast, 2020–2027

7.3.5.2 Market Estimates & Forecast, by Region, 2020–2027

7.3.5 Customer Information System

7.3.5.1 Market Estimates & Forecast, 2020–2027

7.3.5.2 Market Estimates & Forecast, by Region, 2020–2027

7.3.6 SCADA (Supervisory Control and Data Acquisition)

7.3.6.1 Market Estimates & Forecast, 2020–2027

7.3.6.2 Market Estimates & Forecast, by Region, 2020–2027

7.4 Services

7.3.1 Consulting

7.3.1.1 Market Estimates & Forecast, 2020–2027

7.3.1.2 Market Estimates & Forecast, by Region, 2020–2027

7.3.3 Deployment & Integration

7.3.3.1 Market Estimates & Forecast, 2020–2027

7.3.3.2 Market Estimates & Forecast, by Region, 2020–2027

7.3.3 Support & Maintenance

7.3.3.1 Market Estimates & Forecast, 2020–2027

7.3.3.2 Market Estimates & Forecast, by Region, 2020–2027

8. Global Smart Grid Market, by Technology

8.1 Introduction

8.2 Wired

8.2.1 Market Estimates & Forecast, 2020–2027

8.2.2 Market Estimates & Forecast, by Region, 2020–2027

8.3 Wireless

8.3.1 Market Estimates & Forecast, 2020–2027

8.3.2 Market Estimates & Forecast, by Region, 2020–2027

9. Global Smart Grid Market, by End-User

9.1 Introduction

9.2 Residential

9.2.1 Market Estimates & Forecast, 2020–2027

9.2.2 Market Estimates & Forecast, by Region, 2020–2027

9.3 Corporate

9.3.1 Market Estimates & Forecast, 2020–2027

9.3.2 Market Estimates & Forecast, by Region, 2020–2027

9.4 Government

9.4.1 Market Estimates & Forecast, 2020–2027

9.4.2 Market Estimates & Forecast, by Region, 2020–2027

10. Global Smart Grid Market, by Region

10.1 Introduction

10.2 North America

10.2.1 Market Estimates & Forecast, 2020–2027

10.2.2 Market Estimates & Forecast, by Components, 2020–2027

10.2.3 Market Estimates & Forecast, by Technology, 2020–2027

10.2.4 Market Estimates & Forecast, by End-User, 2020–2027

10.2.5 U.S.

10.2.5.1 Market Estimates & Forecast, 2020–2027

10.2.5.2 Market Estimates & Forecast, by Components, 2020–2027

10.2.5.3 Market Estimates & Forecast, by Technology, 2020–2027

10.2.5.4 Market Estimates & Forecast, by End-User, 2020–2027

10.2.6 Canada

10.2.6.1 Market Estimates & Forecast, 2020–2027

10.2.6.2 Market Estimates & Forecast, by Components, 2020–2027

10.2.6.3 Market Estimates & Forecast, by Technology, 2020–2027

10.2.6.4 Market Estimates & Forecast, by End-User, 2020–2027

10.2.7 Mexico

10.2.7.1 Market Estimates & Forecast, 2020–2027

10.2.7.2 Market Estimates & Forecast, by Components, 2020–2027

10.2.7.3 Market Estimates & Forecast, by Technology, 2020–2027

10.2.7.4 Market Estimates & Forecast, by End-User, 2020–2027

10.3 Europe

10.3.1 Market Estimates & Forecast, 2020–2027

10.3.2 Market Estimates & Forecast, by Components, 2020–2027

10.3.3 Market Estimates & Forecast, by Technology, 2020–2027

10.3.4 Market Estimates & Forecast, by End-User, 2020–2027

10.3.5 Germany

10.3.5.1 Market Estimates & Forecast, 2020–2027

10.3.5.2 Market Estimates & Forecast, by Components, 2020–2027

10.3.5.3 Market Estimates & Forecast, by Technology, 2020–2027

10.3.5.4 Market Estimates & Forecast, by End-User, 2020–2027

10.3.6 France

10.3.6.1 Market Estimates & Forecast, 2020–2027

10.3.6.2 Market Estimates & Forecast, by Components, 2020–2027

10.3.6.3 Market Estimates & Forecast, by Technology, 2020–2027

10.3.6.4 Market Estimates & Forecast, by End-User, 2020–2027

10.3.7 Italy

10.3.7.1 Market Estimates & Forecast, 2020–2027

10.3.7.2 Market Estimates & Forecast, by Components, 2020–2027

10.3.7.3 Market Estimates & Forecast, by Technology, 2020–2027

10.3.7.4 Market Estimates & Forecast, by End-User, 2020–2027

10.3.8 Spain

10.3.8.1 Market Estimates & Forecast, 2020–2027

10.3.8.2 Market Estimates & Forecast, by Components, 2020–2027

10.3.8.3 Market Estimates & Forecast, by Technology 2020–2027

10.3.8.4 Market Estimates & Forecast, by End-User, 2020–2027

10.3.9 U.K

10.3.9.1 Market Estimates & Forecast, 2020–2027

10.3.9.2 Market Estimates & Forecast, by Components, 2020–2027

10.3.9.3 Market Estimates & Forecast, by Technology, 2020–2027

10.3.9.4 Market Estimates & Forecast by End-User, 2020–2027

10.4 Asia Pacific

10.4.1 Market Estimates & Forecast, 2020–2027

10.4.2 Market Estimates & Forecast, by Components, 2020–2027

10.4.3 Market Estimates & Forecast, by Technology, 2020–2027

10.4.4 Market Estimates & Forecast, by End-User, 2020–2027

10.4.5 China

10.4.5.1 Market Estimates & Forecast, 2020–2027

10.4.5.2 Market Estimates & Forecast, by Components, 2020–2027

10.4.5.3 Market Estimates & Forecast, by Technology, 2020–2027

10.4.5.4 Market Estimates & Forecast, by End-User, 2020–2027

10.4.6 India

10.4.6.1 Market Estimates & Forecast, 2020–2027

10.4.6.2 Market Estimates & Forecast, by Components, 2020–2027

10.4.6.3 Market Estimates & Forecast, by Technology, 2020–2027

10.4.6.4 Market Estimates & Forecast, by End-User, 2020–2027

10.4.7 Japan

10.4.7.1 Market Estimates & Forecast, 2020–2027

10.4.7.2 Market Estimates & Forecast, by Components, 2020–2027

10.4.7.3 Market Estimates & Forecast, by Technology, 2020–2027

10.4.7.4 Market Estimates & Forecast, by End-User, 2020–2027

10.4.8 Rest of Asia Pacific

10.4.8.1 Market Estimates & Forecast, 2020–2027

10.4.8.2 Market Estimates & Forecast, by Components, 2020–2027

10.4.8.3 Market Estimates & Forecast, by Technology, 2020–2027

10.4.8.4 Market Estimates & Forecast, by End-User, 2020–2027

10.5 Rest of the World

10.5.1 Market Estimates & Forecast, 2020–2027

10.5.2 Market Estimates & Forecast, by Components, 2020–2027

10.5.3 Market Estimates & Forecast, by Technology, 2020–2027

10.5.4 Market Estimates & Forecast, by End-User, 2020–2027

10.5.5 Middle East & Africa

10.5.5.1 Market Estimates & Forecast, 2020–2027

10.5.5.2 Market Estimates & Forecast, by Components, 2020–2027

10.5.5.3 Market Estimates & Forecast, by Technology, 2020–2027

10.5.5.4 Market Estimates & Forecast, by End-User, 2020–2027

10.5.6 Latin America

10.5.6.1 Market Estimates & Forecast, 2020–2027

10.5.6.2 Market Estimates & Forecast, by Components, 2020–2027

10.5.6.3 Market Estimates & Forecast, by Technology, 2020–2027

10.5.6.4 Market Estimates & Forecast, by End-User, 2020–2027

11. Company Landscape

12. Company Profiles

12.1 General Electric Company

12.1.1 Company Overview

12.1.2 Product/Business Segment Overview

12.1.3 Financial Updates

12.1.4 Key Developments

12.2 ABB Ltd.

12.2.1 Company Overview

12.2.2 Product/Business Segment Overview

12.2.3 Financial Updates

12.2.4 Key Developments

12.3 Siemens AG

12.3.1 Company Overview

12.3.2 Product/Business Segment Overview

12.3.3 Financial Updates

12.3.4 Key Developments

12.4 Schneider Electric SA

12.4.1 Company Overview

12.4.2 Product/Business Segment Overview

12.4.3 Financial Updates

12.4.4 Key Developments

12.5 Landis+Gyr

12.5.1 Company Overview

12.5.2 Product/Business Segment Overview

12.5.3 Financial Updates

12.5.4 Key Developments

12.6 Aclara Technologies LLC

12.6.1 Company Overview

12.6.2 Product/Business Segment Overview

12.6.3 Financial Updates

12.6.4 Key Developments

12.7 Cisco Systems, Inc.

12.7.1 Company Overview

12.7.2 Product/Business Segment Overview

12.7.3 Financial Updates

12.7.4 Key Developments

12.8 Open Systems International, Inc.

12.8.1 Company Overview

12.8.2 Product/Business Segment Overview

12.8.3 Financial Updates

12.8.4 Key Developments

12.9 IBM Corporation

12.9.1 Company Overview

12.9.2 Product/Business Segment Overview

12.9.3 Financial Updates

12.9.4 Key Developments

12.10 Wipro Ltd.

12.10.1 Company Overview

12.10.2 Product/Business Segment Overview

12.10.3 Financial Updates

12.10.4 Key Developments

12.11 Oracle Corporation

12.11.1 Company Overview

12.11.2 Product/Business Segment Overview

12.11.3 Financial Updates

12.11.4 Key Developments

13 Conclusion

LIST OF TABLES

Table 1 Global Smart Grid Industry, by Region, 2020–2027

Table 2 North America: Smart Grid Industry, by Country, 2020–2027

Table 3 Europe: Smart Grid Industry, by Country, 2020–2027

Table 4 Asia Pacific: Smart Grid Industry, by Country, 2020–2027

Table 5 The Middle East & Africa: Smart Grid Industry, by Country, 2020–2027

Table 6 Latin America: Smart Grid Industry, by Country, 2020–2027

Table 7 Global Smart Grid Type Market, by Region, 2020–2027

Table 8 North America: Smart Grid Type Market, by Country, 2020–2027

Table 9 Europe: Smart Grid Type Market, by Country, 2020–2027

Table10 Asia Pacific: Smart Grid Type Market, by Country, 2020–2027

Table11 The Middle East & Africa: Smart Grid Type Market, by Country, 2020–2027

Table12 Latin America: Smart Grid Type Market, by Country, 2020–2027

Table13 Global Smart Grid Technology Market, by Region, 2020–2027

Table14 North America: Smart Grid Technology Market, by Country, 2020–2027

Table15 Europe: Smart Grid Technology Market, by Country, 2020–2027

Table16 Asia Pacific: Smart Grid Technology Market, by Country, 2020–2027

Table17 The Middle East & Africa: Smart Grid Technology Market, by Country, 2020–2027

Table18 Latin America: Smart Grid Technology Market, by Country, 2020–2027

Table19 Global Smart Grid End-User Market, by Region, 2020–2027

Table20 North America: Smart Grid End-User Market, by Country, 2020–2027

Table21 Europe: Smart Grid End-User Market, by Country, 2020–2027

Table22 Asia Pacific: Smart Grid End-User Market, by Country, 2020–2027

Table23 The Middle East & Africa: Smart Grid End-User Market, by Country, 2020–2027

Table24 Latin America: Smart Grid End-User Market, by Country, 2020–2027

Table25 Global Type Market, by Region, 2020–2027

Table26 Global Technology Market, by Region, 2020–2027

Table27 Global End-User Market, by Region, 2020–2027

Table28 North America: Smart Grid Industry, by Country

Table29 North America: Smart Grid Industry, by Type

Table30 North America: Smart Grid Industry, by Technology

Table31 North America: Smart Grid Industry, by End-User

Table32 Europe: Smart Grid Industry, by Country

Table33 Europe: Smart Grid Industry, by Type

Table34 Europe: Smart Grid Industry, by Technology

Table 35 Europe: Smart Grid Industry, by End-User

Table36 Asia Pacific: Smart Grid Industry, by Country

Table37 Asia Pacific: Smart Grid Industry, by Type

Table38 Asia Pacific: Smart Grid Industry, by Technology

Table 39 Asia Pacific: Smart Grid Industry, by End-User

Table40 The Middle East & Africa: Smart Grid Industry, by Country

Table41 The Middle East & Africa: Smart Grid Industry, by Type

Table42 The Middle East & Africa: Smart Grid Industry, by Technology

Table43 The Middle East & Africa: Smart Grid Industry, by End-User

Table44 Latin America: Smart Grid Industry, by Country

Table45 Latin America: Smart Grid Industry, by Type

Table46 Latin America: Smart Grid Industry, by Technology

Table47 Latin America: Smart Grid Industry, by End-User

LIST OF FIGURES

FIGURE 1 Global Smart Grid Market Segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis of Global Smart Grid Market

FIGURE 4 Value Chain of Global Smart Grid Market

FIGURE 5 Share of Global Smart Grid Market in 2020, by Country (in %)

FIGURE 6 Global Smart Grid Market, 2020–2027

FIGURE 7 Sub-segments of Type

FIGURE 8 Global Smart Grid Market Size, by Type, 2020

FIGURE 9 Share of Global Smart Grid Market, by Type, 2020 to 2027

FIGURE 10 Global Smart Grid Market Size, by Technology, 2020

FIGURE 11 Share of Global Smart Grid Market, by Technology, 2020 to 2027

FIGURE 12 Global Smart Grid Market Size, by End-User, 2020 to 2027

FIGURE 13 Share of Global Smart Grid Market, by End-User, 2020 to 2027

Smart Grid Market