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Smart Grid Market to Garner Growth CAGR of 18.2% by 2030: Precedence Research

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Smart Grid Market size is projected to reach USD 162.4 billion by 2030 from at USD 30.6 billion in 2020, growing at a CAGR of 18.2% during the forecast period 2021 to 2030.

Growth Factors

The global market witnessed by the governments’ regulatory frameworks regarding the adoption of the smart grids for ensuring regular power supply. The rising demand for the reliable and regular power supply owing to the increasing shift towards sustainable energy sources is boosting the growth of the smart grid market. The rising adoption of the electric vehicle across the globe and rising investments in setting up charging stations at various locations is the most significant factor behind the burgeoning demand for the smart grids across the globe.

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Moreover, the rising efforts to reduce carbon emission and develop emission free sources of energy are boosting the demand for the smart grids. Several nations have plans to develop a number smart cities which will essentially be operated through the power supplied through the smart grids is expected to be the most prominent drivers of the global smart grid market during the forecast period.

Report Highlights

  • Based on the technology, the advanced metering infrastructure dominated the market in 2020. The deployment of smart grids involves adoption of smart meters and hence increased installation of the smart meters has boosted the growth of this segment. The data security, reduced operational costs, and automatic detection of the network errors are the major benefits of the smart meters that augmented the demand for the advanced metering infrastructure.
  • Based on the application, the consumption is estimated to be the most opportunistic segment during the forecast period. The rising adoption of the ICT technologies and the rising penetration of the electric vehicles across the globe are expected to be the major drivers of the consumption segment during the forecast period.
  • North America dominated the global smart grid market during 2020. This is mainly due to the supportive regulatory frameworks regarding the smart grids in the nations like US and Canada. For instance, Canada launched Renewable and Electrical Pathways Program through its Ministry of Natural Resources, which is a four year scheme that will facilitate the smart grid roll out. This scheme was funded with US4 795 million.
  • Asia Pacific is estimated to be the most opportunistic market during the forecast period. The countries like China, Japan, Thailand, South Korea, and India are presenting lucrative growth opportunities to the market players.

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OBJECTIVES OF THE STUDY

  • To analyze and forecast the Smart Grid market, in terms of value and volume
  • To provide information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To define, segment, and project the size of the global Smart Grid market on the product type, end-use and other segments
  • To project the size of the market, with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America, with their key countries
  • To strategically analyze micromarkets with respect to individual growth trends, growth prospects, and their contribution to the total market
  • To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
  • To strategically profile key players and comprehensively analyze their core competencies
  • To track and analyze research & development (R&D) and competitive developments such as joint ventures, mergers & acquisitions, and new product developments in the Smart Grid market

Research Methodology

  • Market estimate for 2021
  • Average selling price (ASP) per region for specific product type
  • Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
  • Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
  • National government documents, statistical databases
  • News articles, press releases, and webcasts specific to companies operating in the market
  • Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
  • Determination of market penetration by country

Major Players Covered in this Report

The updated market research report on Smart Grid market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers
The major players operating in the smart grid market are GE, Schneider Electric, ABB, Siemens, Itron, Cisco, Aclara, OSI, Oracle, Wipro, IBM, Honeywell.

Segments Covered in the Report

By Technology

  • Advanced Metering Infrastructure
  • Distribution Management
  • Substation Automation
  • Communications
  • Security
  • Network Management

By Application

  • Generation
  • Transmission
  • Distribution
  • Consumption

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

Table of Contents

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Smart Grid Market 

5.1. COVID-19 Landscape: Smart Grid Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Smart Grid Market, By Technology

8.1. Smart Grid Market, by Technology Type, 2021-2030

8.1.1. Advanced Metering Infrastructure

8.1.1.1. Market Revenue and Forecast (2019-2030)

8.1.2. Distribution Management

8.1.2.1. Market Revenue and Forecast (2019-2030)

8.1.3. Substation Automation

8.1.3.1. Market Revenue and Forecast (2019-2030)

8.1.4. Communications

8.1.4.1. Market Revenue and Forecast (2019-2030)

8.1.5. Security

8.1.5.1. Market Revenue and Forecast (2019-2030)

8.1.6. Network Management

8.1.6.1. Market Revenue and Forecast (2019-2030)

Chapter 9. Global Smart Grid Market, By Application

9.1. Smart Grid Market, by Application, 2021-2030

9.1.1. Generation

9.1.1.1. Market Revenue and Forecast (2019-2030)

9.1.2. Transmission

9.1.2.1. Market Revenue and Forecast (2019-2030)

9.1.3. Distribution

9.1.3.1. Market Revenue and Forecast (2019-2030)

9.1.4. Consumption

9.1.4.1. Market Revenue and Forecast (2019-2030)

Chapter 10. Global Smart Grid Market, Regional Estimates and Trend Forecast

10.1. North America

10.1.1. Market Revenue and Forecast, by Technology (2019-2030)

10.1.2. Market Revenue and Forecast, by Application (2019-2030)

10.1.3. U.S.

10.1.3.1. Market Revenue and Forecast, by Technology (2019-2030)

10.1.3.2. Market Revenue and Forecast, by Application (2019-2030)

10.1.4. Rest of North America

10.1.4.1. Market Revenue and Forecast, by Technology (2019-2030)

10.1.4.2. Market Revenue and Forecast, by Application (2019-2030)

10.2. Europe

10.2.1. Market Revenue and Forecast, by Technology (2019-2030)

10.2.2. Market Revenue and Forecast, by Application (2019-2030)

10.2.3. UK

10.2.3.1. Market Revenue and Forecast, by Technology (2019-2030)

10.2.3.2. Market Revenue and Forecast, by Application (2019-2030)

10.2.4. Germany

10.2.4.1. Market Revenue and Forecast, by Technology (2019-2030)

10.2.4.2. Market Revenue and Forecast, by Application (2019-2030)

10.2.5. France

10.2.5.1. Market Revenue and Forecast, by Technology (2019-2030)

10.2.5.2. Market Revenue and Forecast, by Application (2019-2030)

10.2.6. Rest of Europe

10.2.6.1. Market Revenue and Forecast, by Technology (2019-2030)

10.2.6.2. Market Revenue and Forecast, by Application (2019-2030)

10.3. APAC

10.3.1. Market Revenue and Forecast, by Technology (2019-2030)

10.3.2. Market Revenue and Forecast, by Application (2019-2030)

10.3.3. India

10.3.3.1. Market Revenue and Forecast, by Technology (2019-2030)

10.3.3.2. Market Revenue and Forecast, by Application (2019-2030)

10.3.4. China

10.3.4.1. Market Revenue and Forecast, by Technology (2019-2030)

10.3.4.2. Market Revenue and Forecast, by Application (2019-2030)

10.3.5. Japan

10.3.5.1. Market Revenue and Forecast, by Technology (2019-2030)

10.3.5.2. Market Revenue and Forecast, by Application (2019-2030)

10.3.6. Rest of APAC

10.3.6.1. Market Revenue and Forecast, by Technology (2019-2030)

10.3.6.2. Market Revenue and Forecast, by Application (2019-2030)

10.4. MEA

10.4.1. Market Revenue and Forecast, by Technology (2019-2030)

10.4.2. Market Revenue and Forecast, by Application (2019-2030)

10.4.3. GCC

10.4.3.1. Market Revenue and Forecast, by Technology (2019-2030)

10.4.3.2. Market Revenue and Forecast, by Application (2019-2030)

10.4.4. North Africa

10.4.4.1. Market Revenue and Forecast, by Technology (2019-2030)

10.4.4.2. Market Revenue and Forecast, by Application (2019-2030)

10.4.5. South Africa

10.4.5.1. Market Revenue and Forecast, by Technology (2019-2030)

10.4.5.2. Market Revenue and Forecast, by Application (2019-2030)

10.4.6. Rest of MEA

10.4.6.1. Market Revenue and Forecast, by Technology (2019-2030)

10.4.6.2. Market Revenue and Forecast, by Application (2019-2030)

10.5. Latin America

10.5.1. Market Revenue and Forecast, by Technology (2019-2030)

10.5.2. Market Revenue and Forecast, by Application (2019-2030)

10.5.3. Brazil

10.5.3.1. Market Revenue and Forecast, by Technology (2019-2030)

10.5.3.2. Market Revenue and Forecast, by Application (2019-2030)

10.5.4. Rest of LATAM

10.5.4.1. Market Revenue and Forecast, by Technology (2019-2030)

10.5.4.2. Market Revenue and Forecast, by Application (2019-2030)

Chapter 11. Company Profiles

11.1. GE

11.1.1. Company Overview

11.1.2. Product Offerings

11.1.3. Financial Performance

11.1.4. Recent Initiatives

11.2. Schneider Electric

11.2.1. Company Overview

11.2.2. Product Offerings

11.2.3. Financial Performance

11.2.4. Recent Initiatives

11.3. ABB

11.3.1. Company Overview

11.3.2. Product Offerings

11.3.3. Financial Performance

11.3.4. Recent Initiatives

11.4. Siemens

11.4.1. Company Overview

11.4.2. Product Offerings

11.4.3. Financial Performance

11.4.4. Recent Initiatives

11.5. Itron

11.5.1. Company Overview

11.5.2. Product Offerings

11.5.3. Financial Performance

11.5.4. Recent Initiatives

11.6. Cisco

11.6.1. Company Overview

11.6.2. Product Offerings

11.6.3. Financial Performance

11.6.4. Recent Initiatives

11.7. Aclara

11.7.1. Company Overview

11.7.2. Product Offerings

11.7.3. Financial Performance

11.7.4. Recent Initiatives

11.8. OSI

11.8.1. Company Overview

11.8.2. Product Offerings

11.8.3. Financial Performance

11.8.4. Recent Initiatives

11.9. Oracle

11.9.1. Company Overview

11.9.2. Product Offerings

11.9.3. Financial Performance

11.9.4. Recent Initiatives

11.10. Wipro

11.10.1. Company Overview

11.10.2. Product Offerings

11.10.3. Financial Performance

11.10.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research

12.2. Secondary Research

12.3. Assumptions

Chapter 13. Appendix

13.1. About Us

13.2. Glossary of Terms

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