Global Smart Grid Networking Market Research Report: by Hardware (Cables, Controllers, Routers, Smart Meter, Switches), by Software (Performance Monitoring, IP, Network Traffic, Network Configuration, Network Security), by Service – Forecast till 2027
ID: MRFR/ICT/3997-HCR | February 2021 | Region: Global | 100 pages
Market Overview
The Smart Grid Networking Market is projected to register a CAGR of 10%. It is estimated that the market will reach around 17 Million during the forecast period 2017-2023. The major reason for the exponential market growth is speculated that the rising need for better management of energy. Along with that, the growing demand for deploying smart grids is the major factor for the growth of the Smart Grid Networking Industry.
It is estimated that the growing demand for the growth of the SGN Market will help in creating several opportunities. Also, the governments in both underdeveloped and developing countries are supporting the Smart Grid Networking Industry. Several investments by the key players will also support the market and enhance economic growth. Smart Grid Networks help to establish better communication systems, fault detection, and distribution management.
Smart grid technology also doesn't have many harmful effects on nature. It is capable of reducing carbon emissions. Hence, it will have a great opportunity for the market players to take care of the environment as well. Various efforts from across the world to improve the electricity grids with modern equipment are also anticipated to fuel the market growth during the forecast period. The technological advancements in the grids will help to improve the infrastructure and lower the surrounding costs as well.
There are some restraints that can affect the market growth to some rate. However, there are several benefits that will have a positive effect on the market. It also helps to improve the network connectivity and easy data transfer will also uplift the graph. The Smart Grid Networking Industry is divided into various segments such as software, hardware, and service. It is projected that the North American region will hold the largest share in the SGN market during the forecast period.
COVID-19 Analysis
The coronavirus pandemic began in the early months of 2021 that had a drastic impact. Due to the pandemic, several economies suffered due to the lockdown of months. Especially the health sector was in high demand to control the pandemic. Otherwise, several businesses faced losses due to the continuous lockdown to contain the spread. However, in the future years, if the pandemic is controlled, then progressive steps by the key players will revive the market in the future.
Market Dynamics
Market Drivers
As per the Smart Grid Networking Market Analysis, the market is projected to grow at a significant rate. There are various factors that are promoting the market such as the rising demand for smart grid equipment. Technologies such as EV chargers and many more are also enhancing the market growth. It helps to establish a better network connection and improve the data flow that will also drive the market towards a new level.
Restraints
There are various driving factors that can improve the market, but there are restraining factors as well. The growth of the Smart Grid Networking Industry is speculated to hinder because of low management of energy. Also, the low availability of electricity in remote areas and underdeveloped countries will hamper the growth.
Opportunities
There are several opportunities that will open the door of the Smart Grid Networking Industry in the future. The rising investments by the key players and supportive government policies will improve the market. The advanced technologies will help to enhance the old infrastructure to provide accurate data.
Challenge
One of the major challenges for the Smart Grid Networking Business is expensive installation. Also, the use of the other necessary components such as wires, transformers, poles, plants may cost around USD 1 trillion. Along with other factors such as labour costs and complex setting will be a huge challenge. Eventually, these will pile up the overall costs that will be a challenge to reduce.
Cumulative Analysis
With the growing need for better infrastructure, the Global Smart Grid Networking Market is anticipated to have substantial growth. It is expected that the Compound Annual Growth Rate (CAGR) of the market will be around 10%. Also, the market value will reach around USD 17 Billion during the forecast period 2017-2023.
Value Chain Analysis
Smart networking will be very in the upcoming period. The modernized solutions are projected to improve the productivity of various industries. Hence, the Smart Grid Networking Market Trends will have a positive outcome on the various sectors across the world. Also, supportive government policies and investments will increase the value of the Smart Grid Networking Business.
Market Segmentations
Global Smart Grid Networking Market Segments are divided into software, hardware, and service. On the basis of hardware, the Smart Grid Networking Business is further divided into- Routers, Switches, Cables, Smart Meter Communication, Controllers, and others.
On the basis of service, the Smart Grid Networking Industry is further bifurcated into Support and network Maintenance, Security Assessment and Network Risk, Design and Integration, Consulting Network Planning, and others.
On the basis of software, the Smart Grid Networking Business is further segmented into IP Address Management, Network Performance Monitoring Management, Network Security Management, Network Traffic Management, Network Configuration Management, Network Device Management, and others.
Regional Analysis
The Smart Grid Networking Market Size is divided into North America, Europe, Asia, and the Rest of the World. It is estimated that North America will dominate the market during the forecast period. The growing demand for smart grid networking and the presence of major key players are the major reason.
Also, the Asia-Pacific region is projected to record the highest growth in the upcoming period. The major countries such as China, Japan, and India are the major factors for the propelling growth. Smart Grid Networking Business in this region will help improve the market growth for the target audience such as the consultancy firms, manufacturers, and many more.
After that, the European region will also experience a substantial Smart Grid Networking Market Share. The presence of several renowned key players in the developed countries like France, the UK, Germany, and Switzerland will influence the market positively.
The rest of the world comprises the countries in the Middle East and African region. This region will have the slowest growth due to the low availability of required materials and electricity.
Competitive Landscape
There are various key players in the market that use different strategies to improve market saturation and generate revenue. These tactics and tricks include mergers, acquisitions, partnerships, market analysis, and many more. Some of the Smart Grid Networking Market Top Players are-
- Trilliant Holdings, Inc. (U.S.)
- Mitsubishi Electric (Japan)
- ABB Group (Switzerland)
- Schneider Electric SE (France)
- Fujitsu (Japan)
- Huawei Technologies Co. Ltd. (China)
- Siemens AG (Germany)
- Itron (U.S.)
- Cisco Systems, Inc. (U.S.)
- General Electric Company (U.S.)
Recent Developments
- In 2018 Northern Powergrid announced a new project from Smart Grid upgrades to lower carbon emission.
- Rotterdam in 2017 announced to connect with around 20,000 residences with the companies with smart-grid.
Report Overview
The report overview of the SGN Market is as follows-
- Overview of the market
- COVID 19 analysis
- Dynamics of the market
- Value chain analysis
- Market segmentation
- Regional analysis
- Competitive Landscape
- Recent Developments of the key players
Report Score and Segmentation
- Study Period- 2017-2023
- Base Year- 2021
- Forecast Period- 2017-2023
- Historical Period- 2017-2020
The scope of the report is to give clarity about the Smart Grid Networking Market Trends. It gives information about the opportunities, restraints, competitive landscape, and many more. Along with that, the report also gives information about the key players in the market. The information provided in this report is collected from secondary and primary sources.
Market Segmentation
- By Service
- Design and Integration
- Security Assessment and Network Risk
- Consulting Network Planning
- Support and Network Maintenance
- By Hardware
- Routers
- Switches
- Cables
- Smart Meter Communication
- Controllers
- By Software
- IP Address Management
- Network Performance Monitoring Management
- Network Security Management
- Network Traffic Management
- Network Configuration Management
- Network Device Management
- By Region
- Asia-Pacific
- North America
- Europe
- Rest of the World
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | 2027: Significant Value |
| CAGR | Substantial CAGR |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Hardware, by Software |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | ABB Group (Switzerland), Cisco Systems, Inc. (U.S.), Mitsubishi Electric (Japan), Fujitsu (Japan), General Electric Company (U.S.), Huawei Technologies Co. Ltd. (China), Itron (U.S.), Schneider Electric SE (France), Siemens AG (Germany) and Trilliant Holdings, Inc. (U.S.) |
| Key Market Opportunities | The global smart grid networking market. Increasing deployment of smart grids will create opportunities for traditional energy and open market for new players. |
| Key Market Drivers | The growth of the market in North America is attributed to technological advancements and increased adoption of smart grid networking applications across various industry verticals. |
Frequently Asked Questions (FAQ) :
The software segment consists of network device management, network configuration management, IP address management, network performance monitoring management, network security management, network traffic management, and others.
The projected market growth rate in the years ahead is 10%.
Siemens AG (Germany), Schneider Electric SE (France), Mitsubishi Electric (Japan), Trilliant Holdings, Inc. (U.S.), General Electric Company (U.S.), ABB Group (Switzerland), Itron (U.S.), Fujitsu (Japan), Cisco Systems, Inc. (U.S.), Huawei Technologies Co. Ltd. (China), are the prominent companies in the global market.
By 2023, the market size can be USD 17 billion, as reported by MRFR.
The United States (U.S.) holds the majority of the North American market.
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 Networking Market
5 Industry Overview of Global Smart Grid Networking 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 Networking Market by Hardware
7.1 Introduction
7.2 Cables
7.2.1 Market Estimates & Forecast, 2020-2027
7.2.2 Market Estimates & Forecast by Region, 2020-2027
7.3 Controllers
7.3.1 Market Estimates & Forecast, 2020-2027
7.3.2 Market Estimates & Forecast by Region, 2020-2027
7.4 Routers
7.4.1 Market Estimates & Forecast, 2020-2027
7.4.2 Market Estimates & Forecast by Region, 2020-2027
7.5 Smart Meter Communication Modules
7.5.1 Market Estimates & Forecast, 2020-2027
7.5.2 Market Estimates & Forecast by Region, 2020-2027
7.6 Switches
7.6.1 Market Estimates & Forecast, 2020-2027
7.6.2 Market Estimates & Forecast by Region, 2020-2027
7.7 Others
7.7.1 Market Estimates & Forecast, 2020-2027
7.7.2 Market Estimates & Forecast by Region, 2020-2027
8. Global Smart Grid Networking Market by Software
8.1 Introduction
8.2 Network Performance Monitoring Management
8.2.1 Market Estimates & Forecast, 2020-2027
8.2.2 Market Estimates & Forecast by Region, 2020-2027
8.3 IP Address Management
8.3.1 Market Estimates & Forecast, 2020-2027
8.3.2 Market Estimates & Forecast by Region, 2020-2027
8.4 Network Traffic Management
8.4.1 Market Estimates & Forecast, 2020-2027
8.4.2 Market Estimates & Forecast by Region, 2020-2027
8.5 Network Device Management
8.5.1 Market Estimates & Forecast, 2020-2027
8.5.2 Market Estimates & Forecast by Region, 2020-2027
8.6 Network Configuration Management
8.6.1 Market Estimates & Forecast, 2020-2027
8.6.2 Market Estimates & Forecast by Region, 2020-2027
8.7 Network Security Management
8.7.1 Market Estimates & Forecast, 2020-2027
8.7.2 Market Estimates & Forecast by Region, 2020-2027
8.8 Others
8.8.1 Market Estimates & Forecast, 2020-2027
8.8.2 Market Estimates & Forecast by Region, 2020-2027
9. Global Smart Grid Networking Market by Service
9.1 Introduction
9.2 Consulting
9.2.1 Market Estimates & Forecast, 2020-2027
9.2.2 Market Estimates & Forecast by Region, 2020-2027
9.3 Network Planning
9.3.1 Market Estimates & Forecast, 2020-2027
9.3.2 Market Estimates & Forecast by Region, 2020-2027
9.4 Design & Integration
9.4.1 Market Estimates & Forecast, 2020-2027
9.4.2 Market Estimates & Forecast by Region, 2020-2027
9.5 Network Risk & Security Assessment
9.5.1 Market Estimates & Forecast, 2020-2027
9.5.2 Market Estimates & Forecast by Region, 2020-2027
9.6 Network Maintenance & Support
9.6.1 Market Estimates & Forecast, 2020-2027
9.6.2 Market Estimates & Forecast by Region, 2020-2027
9.7 Others
9.7.1 Market Estimates & Forecast, 2020-2027
9.7.2 Market Estimates & Forecast by Region, 2020-2027
10. Global Smart Grid Networking 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 Hardware, 2020-2027
10.2.3 Market Estimates & Forecast by Software, 2020-2027
10.2.4 Market Estimates & Forecast by Service, 2020-2027
10.2.5 U.S.
10.2.5.1 Market Estimates & Forecast, 2020-2027
10.2.5.2 Market Estimates & Forecast by Hardware, 2020-2027
10.2.5.3 Market Estimates & Forecast by Software, 2020-2027
10.2.5.4 Market Estimates & Forecast by Service, 2020-2027
10.2.6 Canada
10.2.6.1 Market Estimates & Forecast, 2020-2027
10.2.6.2 Market Estimates & Forecast by Hardware, 2020-2027
10.2.6.3 Market Estimates & Forecast by Software, 2020-2027
10.2.6.4 Market Estimates & Forecast by Service, 2020-2027
10.2.7 Mexico
10.2.7.1 Market Estimates & Forecast, 2020-2027
10.2.7.2 Market Estimates & Forecast by Hardware, 2020-2027
10.2.7.3 Market Estimates & Forecast by Software, 2020-2027
10.2.7.4 Market Estimates & Forecast by Service, 2020-2027
10.3 Europe
10.3.1 Market Estimates & Forecast, 2020-2027
10.3.2 Market Estimates & Forecast by Hardware, 2020-2027
10.3.3 Market Estimates & Forecast by Software, 2020-2027
10.3.4 Market Estimates & Forecast by Service, 2020-2027
10.3.5 Germany
10.3.5.1 Market Estimates & Forecast, 2020-2027
10.3.5.2 Market Estimates & Forecast by Hardware, 2020-2027
10.3.5.3 Market Estimates & Forecast by Software, 2020-2027
10.3.5.4 Market Estimates & Forecast by Service, 2020-2027
10.3.6 France
10.3.6.1 Market Estimates & Forecast, 2020-2027
10.3.6.2 Market Estimates & Forecast by Hardware, 2020-2027
10.3.6.3 Market Estimates & Forecast by Software, 2020-2027
10.3.6.4 Market Estimates & Forecast by Service, 2020-2027
10.3.7 Italy
10.3.7.1 Market Estimates & Forecast, 2020-2027
10.3.7.2 Market Estimates & Forecast by Hardware, 2020-2027
10.3.7.3 Market Estimates & Forecast by Software, 2020-2027
10.3.7.4 Market Estimates & Forecast by Service, 2020-2027
10.3.8 Spain
10.3.8.1 Market Estimates & Forecast, 2020-2027
10.3.8.2 Market Estimates & Forecast by Hardware, 2020-2027
10.3.8.3 Market Estimates & Forecast by Software 2020-2027
10.3.8.4 Market Estimates & Forecast by Service, 2020-2027
10.3.9 U.K
10.3.9.1 Market Estimates & Forecast, 2020-2027
10.3.9.2 Market Estimates & Forecast by Hardware, 2020-2027
10.3.9.3 Market Estimates & Forecast by Software, 2020-2027
10.3.9.4 Market Estimates & Forecast by Service, 2020-2027
10.4 Asia Pacific
10.4.1 Market Estimates & Forecast, 2020-2027
10.4.2 Market Estimates & Forecast by Hardware, 2020-2027
10.4.3 Market Estimates & Forecast by Software, 2020-2027
10.4.4 Market Estimates & Forecast by Service, 2020-2027
10.4.5 China
10.4.5.1 Market Estimates & Forecast, 2020-2027
10.4.5.2 Market Estimates & Forecast by Hardware, 2020-2027
10.4.5.3 Market Estimates & Forecast by Software, 2020-2027
10.4.5.4 Market Estimates & Forecast by Service, 2020-2027
10.4.6 India
10.4.6.1 Market Estimates & Forecast, 2020-2027
10.4.6.2 Market Estimates & Forecast by Hardware, 2020-2027
10.4.6.3 Market Estimates & Forecast by Software, 2020-2027
10.4.6.4 Market Estimates & Forecast by Service, 2020-2027
10.4.7 Japan
10.4.7.1 Market Estimates & Forecast, 2020-2027
10.4.7.2 Market Estimates & Forecast by Hardware, 2020-2027
10.4.7.3 Market Estimates & Forecast by Software, 2020-2027
10.4.7.4 Market Estimates & Forecast by Service, 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 Hardware, 2020-2027
10.4.8.3 Market Estimates & Forecast by Software, 2020-2027
10.4.8.4 Market Estimates & Forecast by Service, 2020-2027
10.5 Rest of the World
10.5.1 Market Estimates & Forecast, 2020-2027
10.5.2 Market Estimates & Forecast by Hardware, 2020-2027
10.5.3 Market Estimates & Forecast by Software, 2020-2027
10.5.4 Market Estimates & Forecast by Service, 2020-2027
10.5.5 The The Middle East & Africa
10.5.5.1 Market Estimates & Forecast, 2020-2027
10.5.5.2 Market Estimates & Forecast by Hardware, 2020-2027
10.5.5.3 Market Estimates & Forecast by Software, 2020-2027
10.5.5.4 Market Estimates & Forecast by Service, 2020-2027
10.5.6 Latin America
10.5.6.1 Market Estimates & Forecast, 2020-2027
10.5.6.2 Market Estimates & Forecast by Hardware, 2020-2027
10.5.6.3 Market Estimates & Forecast by Software, 2020-2027
10.5.6.4 Market Estimates & Forecast by Service, 2020-2027
11. Company Landscape
12. Company Profiles
12.1 ABB Group
12.1.1 Company Overview
12.1.2 Product/Business Segment Overview
12.1.3 Financial Updates
12.1.4 Key Developments
12.2 Cisco Systems, Inc.
12.2.1 Company Overview
12.2.2 Product/Business Segment Overview
12.2.3 Financial Updates
12.2.4 Key Developments
12.3 Mitsubishi Electric
12.3.1 Company Overview
12.3.2 Product/Business Segment Overview
12.3.3 Financial Updates
12.3.4 Key Developments
12.4 Fujitsu
12.4.1 Company Overview
12.4.2 Product/Business Segment Overview
12.4.3 Financial Updates
12.4.4 Key Developments
12.5 General Electric Company
12.5.1 Company Overview
12.5.2 Product/Business Segment Overview
12.5.3 Financial Updates
12.5.4 Key Developments
12.6 Huawei Technologies Co. Ltd.
12.6.1 Company Overview
12.6.2 Product/Business Segment Overview
12.6.3 Financial Updates
12.6.4 Key Developments
12.7 Itron
12.7.1 Company Overview
12.7.2 Product/Business Segment Overview
12.7.3 Financial Updates
12.7.4 Key Developments
12.8 Schneider Electric SE
12.8.1 Company Overview
12.8.2 Product/Business Segment Overview
12.8.3 Financial Updates
12.8.4 Key Developments
12.9 Siemens AG
12.9.1 Company Overview
12.9.2 Product/Business Segment Overview
12.9.3 Financial Updates
12.9.4 Key Developments
12.10 Trilliant Holdings, Inc.
12.10.1 Company Overview
12.10.2 Product/Business Segment Overview
12.10.3 Financial Updates
12.10.4 Key Developments
13 Conclusion
LIST OF TABLES
Table 1 Global Smart Grid Networking Market: By Region, 2020-2027
Table 2 North America Smart Grid Networking Market: By Country, 2020-2027
Table 3 Europe Smart Grid Networking Market: By Country, 2020-2027
Table 4 Asia-Pacific Smart Grid Networking Market: By Country, 2020-2027
Table 5 The Middle East & Africa Smart Grid Networking Market: By Country, 2020-2027
Table 6 Latin America Smart Grid Networking Market: By Country, 2020-2027
Table 7 Global Smart Grid Networking by Hardware Market: By Regions, 2020-2027
Table 8 North America Smart Grid Networking by Hardware Market: By Country, 2020-2027
Table 9 Europe Smart Grid Networking by Hardware Market: By Country, 2020-2027
Table10 Asia-Pacific Smart Grid Networking by Hardware Market: By Country, 2020-2027
Table11 The Middle East & Africa Smart Grid Networking by Hardware Market: By Country, 2020-2027
Table12 Latin America Smart Grid Networking by Hardware Market: By Country, 2020-2027
Table13 Global Smart Grid Networking by Software Market: By Regions, 2020-2027
Table14 North America Smart Grid Networking by Software Market: By Country, 2020-2027
Table15 Europe Smart Grid Networking by Software Market: By Country, 2020-2027
Table16 Asia-Pacific Smart Grid Networking by Software Market: By Country, 2020-2027
Table17 The Middle East & Africa Smart Grid Networking by Software Market: By Country, 2020-2027
Table18 Latin America Smart Grid Networking by Software Market: By Country, 2020-2027
Table19 Global Smart Grid Networking by Service Market: By Regions, 2020-2027
Table20 North America Smart Grid Networking by Service Market: By Country, 2020-2027
Table21 Europe Smart Grid Networking by Service Market: By Country, 2020-2027
Table22 Asia-Pacific Smart Grid Networking by Service Market: By Country, 2020-2027
Table23 The Middle East & Africa Smart Grid Networking by Service Market: By Country, 2020-2027
Table24 Latin America Smart Grid Networking by Service Market: By Country, 2020-2027
Table25 Global Hardware Market: By Region, 2020-2027
Table26 Global Software Market: By Region, 2020-2027
Table27 Global Service Market: By Region, 2020-2027
Table28 North America Smart Grid Networking Market, By Country
Table29 North America Smart Grid Networking Market, By Hardware
Table30 North America Smart Grid Networking Market, By Software
Table31 North America Smart Grid Networking Market, By Service
Table32 Europe: Smart Grid Networking Market, By Country
Table33 Europe: Smart Grid Networking Market, By Hardware
Table34 Europe: Smart Grid Networking Market, By Software
Table 35 Europe: Smart Grid Networking Market, By Service
Table36 Asia-Pacific: Smart Grid Networking Market, By Country
Table37 Asia-Pacific: Smart Grid Networking Market, By Hardware
Table38 Asia-Pacific: Smart Grid Networking Market, By Software
Table 39 Asia-Pacific: Smart Grid Networking Market, By Service
Table40 The Middle East & Africa: Smart Grid Networking Market, By Country
Table41 The Middle East & Africa Smart Grid Networking Market, By Hardware
Table42 The Middle East & Africa Smart Grid Networking Market, By Software
Table43 The Middle East & Africa: Smart Grid Networking Market, By Service
Table44 Latin America: Smart Grid Networking Market, By Country
Table45 Latin America Smart Grid Networking Market, By Hardware
Table46 Latin America Smart Grid Networking Market, By Software
Table47 Latin America: Smart Grid Networking Market, By Service
LIST OF FIGURES
FIGURE 1 Global Smart Grid Networking Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis of Global Smart Grid Networking Market
FIGURE 4 Value Chain of Global Smart Grid Networking Market
FIGURE 5 Share of Global Smart Grid Networking Market in 2020, by country (in %)
FIGURE 6 Global Smart Grid Networking Market, 2020-2027,
FIGURE 7 Sub segments of Hardware
FIGURE 8 Global Smart Grid Networking Market size by Hardware, 2020
FIGURE 9 Share of Global Smart Grid Networking Market by Hardware, 2020 TO 2027
FIGURE 10 Global Smart Grid Networking Market size by Software, 2020
FIGURE 11 Share of Global Smart Grid Networking Market by Software, 2020 TO 2027
FIGURE 12 Global Smart Grid Networking Market size by Service, 2020 TO 2027
FIGURE 13 Share of Global Smart Grid Networking Market by Service, 2020 TO 2027