Smart Grid Communications Market by Technology (Wired and Wireless) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021–2028
The global smart grid communications market is estimated to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing government investments in the energy industry. Moreover, high energy efficiency offered by smart grid communication technology is anticipated to propel the market growth.
Smart grid networking offers two-way communication between various components of a utility grid, which enables better network management and provides data from different phases such as generation, transmission, and distribution. Installation of communication networks on utility grids provide integrated communication that leads to substation automation, demand response, supervisory control & data acquisition, distribution automation, energy management, real-time control, information and data exchange, asset utilization and increased reliability.
The communication between different grid components helps in operating the network. These components interact with one another through routers, gateways, and bridges, which are further connected to each other to form a mesh network. Infrastructure information required to implement a smart grid includes acquiring and transmitting the data from the electrical appliances and sensors to smart meters. Further, it sends the acquired data to the utility centers through wired or wireless medium.
The smart grid communication technology ensures efficient scheduling, dispatching of power, and effective grid discipline. Additionally, a smart grid enables applications such as outage management, automated metering infrastructure (AMI), automatic load shedding, distribution automation, and the ability to manage alternative energy sources. Similarly, a wireless smart grid communication network support these applications remotely.
Rapid technological advancements have led to the increased usage of wireless technologies, mobile devices, and field-based sensors. These technologies are used for controlling supervisory control and data acquisition (SCADA) systems, eliminating the need of machine-to-machine technology. Such advanced features allow traditional power grid to offer high-security, improved information storage, robust reliability, and substantial efficiency.
Market Drivers, Restraints, Trends, and Opportunities
- Rising implementation of smart grids to address the electricity-based distribution infrastructure and transmission problems is expected to boost the smart grid communications market during the forecast period.
- Growing awareness about smart grid technology benefits is anticipated to spur the market growth.
- High cost of installation and lack of interoperability are some of the factors expected that can hamper the market growth during the forecast period.
- Smart grid helps in curtailing carbon emissions and reducing the operational errors, which is further anticipated to fuel the smart grid communications market growth during the forecast period.
- The slow response time offered by traditional switches and aging electrical infrastructure are projected to spur the market growth.
- Increasing energy consumption across the globe is estimated to fuel the smart grid communications market.
- Rapid technological advancements in the communication technologies along with high ROI is projected to create lucrative opportunities in the coming years.
Scope of the Report
The report on the smart grid communications market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Smart Grid Communications Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
Technology (Wired and Wireless) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Sensus, Tropos Network. Inc, Viola Systems, ABB Ltd, Cooper Power System LLC, Verizon Communications Inc, International Business Machines Corporation, and Infrax Systems Inc. |
Smart Grid Communications Market Segment Insights
Wireless segment projected to account a significant market share
On the basis of technology, the market is bifurcated into wired and wireless. Increasing demand for wireless communication systems owing to their high level of flexibility is driving the growth of the wireless segment. These systems have low infrastructural requirements and can reach remote areas effectively. However, these systems are subjected to fluctuations and attenuation while transmission, creating a significant noise. Moreover, these systems require additional interfacing hardware and power storages devices such as batteries.
North America expected to constitute a considerable market share
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a considerable market share during the forecast period. The availability of highly advanced technological infrastructure in this region is propelling the regional market growth. The market in Asia Pacific is anticipated to expand at an impressive CAGR during the forecast period. Increasing demand for smart grids in the emerging economies such as India and China is driving the market growth.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Grid Communications Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Smart Grid Communications Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Smart Grid Communications Market - Supply Chain
4.5. Global Smart Grid Communications Market Forecast
4.5.1. Smart Grid Communications Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Smart Grid Communications Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Smart Grid Communications Market Absolute $ Opportunity
5. Global Smart Grid Communications Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Smart Grid Communications Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Smart Grid Communications Demand Share Forecast, 2019-2026
6. North America Smart Grid Communications Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Smart Grid Communications Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Smart Grid Communications Demand Share Forecast, 2019-2026
7. Latin America Smart Grid Communications Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Smart Grid Communications Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Smart Grid Communications Demand Share Forecast, 2019-2026
8. Europe Smart Grid Communications Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Smart Grid Communications Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Smart Grid Communications Demand Share Forecast, 2019-2026
9. Asia Pacific Smart Grid Communications Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Smart Grid Communications Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Smart Grid Communications Demand Share Forecast, 2019-2026
10. Middle East & Africa Smart Grid Communications Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Smart Grid Communications Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Smart Grid Communications Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Smart Grid Communications Market: Market Share Analysis
11.2. Smart Grid Communications Distributors and Customers
11.3. Smart Grid Communications Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. Sensus
11.4.2. Tropos Network. Inc
11.4.3. Viola Systems
11.4.4. ABB Ltd
11.4.5. Cooper Power System LLC
11.4.6. Verizon Communications Inc
11.4.7. International Business Machines Corporation
11.4.8. Infrax Systems Inc.
Segments Covered in the Report
The global smart grid communications market has been segmented on the basis of
Technology
- Wired
- Wireless
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Some of the key players in the global smart grid communications market are Sensus, Tropos Network. Inc, Viola Systems, ABB Ltd, Cooper Power System LLC, Verizon Communications Inc, International Business Machines Corporation, and Infrax Systems Inc.
ABB Ltd. offers a wireless distribution network for smart grid called Tropos GridCom. It allows utilities to make a private communication foundation to accumulate several applications across various service territories. Tropos GridCom consumers include Avista, Burbank Water & Power (BWP), and Silicon Valley Power (SVP).
Avista uses ABB’s technology for its smart circuits project in the area of distribution automation. This helps the former company to quickly detect faults in the network, which can reduce energy losses and improve system reliability. Further, the network can enhance the utility’s ability to consolidate distributed renewable generation resources.
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