Smart Grid Network Market

Smart Grid Network Market by Technology Application Areas (Demand Response, Transmission, Advance Metering Infrastructure, and Other Technology Application Areas), Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: ICT-SE-1051
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 196
  • Format:
  • Pub. Date: Upcoming
  • Share:

The global smart grid network market size is projected to expand at a substantial CAGR of 17.76% during the forecast period, 2021–2028. Growth of the market is attributed to growing demand for the energy or electricity across the globe. The government’s initiatives and policies for the smart grid network and technologies are projected to drive the market.
 

Smart Grid Network Market Key Takeaways


Smart grid is an electrical grid used in the power grid modernization process as it decreases the transmission and distribution loss. Smart grid has various types of operation and energy measures such as smart distribution boards and circuit breakers, renewable energy resources, advanced metering infrastructure, smart appliances, and load control switches. Various technologies manage the demand and supply for electricity with continuous data exchange with the help of data storage, data and information management, networking, and information analytics.

Smart grid network has various properties such as reliability, efficiency, peak curtailment, flexibility in network topology, load adjustment, demand response support, sustainability, advanced services, and market enabling. Innovative and advanced technologies are used to stabilize the grid, deliver maximum power, and for accurate power control. Smart grid network system provides wide ranging opportunities for efficient operations and energy conservation.

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing demand for electricity is expected to spur the market during the forecast period.
  • Growing investments in various smart grid projects is major factor fueling the market.
  • Government’s supportive policies and legislative mandates are anticipated to propel the market during the forecast period.
  • Rapid growth of the commercial, industrial, and residential sectors is key factors driving the market in the coming years.
  • High installation price of smart grid technology solutions is projected to hamper the market expansion.
  • Lack of energy management act as main factor that can hinder the market in the coming years.
  • Rise in fragmentation of the market is estimated to restrict the market growth during the forecast period.
  • R&D investment and technological advancement in smart grid market is projected to create lucrative opportunities for the market players.

Scope of the Report

The report on the global smart grid network market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Smart Grid Network Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Technology Application Areas (Demand Response, Transmission, Advance Metering Infrastructure, and Other Technology Application Areas)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

General Electric Company, Cisco Systems Inc., Itron Inc., ABB Ltd., Eaton Corporation PLC, Siemens AG, Oracle Corporation, Schneider Electric SE, and Osaki Electric Co.

 

Market Segment Insights:

The advance metering infrastructure segment is projected to constitute a major market share
Based on technology application areas, the global smart grid network market is segregated into demand response, transmission, advance metering infrastructure, and other technology application areas. The advance metering infrastructure segment is expected to hold a key share of the market during the forecast period owing to rising efforts for modernizing the electricity grid, growing investment by government and helps in reducing the transmission and distribution loss. Advance metering infrastructure is a system of smart meters, networks, communication, and data management system which allows two way communications between consumers and utilities.
 

Smart Grid Network Market By Technology applications


Asia Pacific is expected to dominate the market
On the basis of regions, the global smart grid network market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is anticipated to expand at a robust CAGR during the forecast period. The regional market growth can be attributed to increasing demand for electricity. Growing focus on dealing with issues about environmental protection, conventional electric networks, and adopting smart grid technology for improving efficiency in energy consumption and conservation are boosting the market in the region.

On the other hand, the market of North America is expected to exhibit a rapid growth rate in the coming years owing to adoption of innovative and latest technologies such as substation automation, smart grid distribution management, advance metering infrastructure, and smart grid communication, and rising investments in the smart grid projects for better control mechanisms and smart grid.
 

Smart Grid Network Market By Regions

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Grid Network 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 Network 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 Network Market - Supply Chain
  4.5. Global Smart Grid Network Market Forecast
     4.5.1. Smart Grid Network Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Smart Grid Network Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Smart Grid Network Market Absolute $ Opportunity
5. Global Smart Grid Network 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 Network 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 Network Demand Share Forecast, 2019-2026
6. North America Smart Grid Network 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 Network 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 Network Demand Share Forecast, 2019-2026
7. Latin America Smart Grid Network 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 Network 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 Network Demand Share Forecast, 2019-2026
8. Europe Smart Grid Network 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 Network 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 Network Demand Share Forecast, 2019-2026
9. Asia Pacific Smart Grid Network 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 Network 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 Network Demand Share Forecast, 2019-2026
10. Middle East & Africa Smart Grid Network 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 Network 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 Network Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Smart Grid Network Market: Market Share Analysis
  11.2. Smart Grid Network Distributors and Customers
  11.3. Smart Grid Network Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. General Electric Company
     11.4.2. Cisco Systems Inc.
     11.4.3. Itron Inc.
     11.4.4. ABB Ltd.
     11.4.5. Eaton Corporation PLC
     11.4.6. Siemens AG
     11.4.7. Oracle Corporation
     11.4.8. Schneider Electric SE
     11.4.9. Osaki Electric Co.

Segments Covered in the Report
The global smart grid network market has been segmented on the basis of

Technology Application Area

  • Demand Response
  • Transmission
  • Advance Metering Infrastructure
  • Other Technology Application Areas

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • General Electric Company
  • Cisco Systems Inc.
  • Itron Inc.
  • ABB Ltd.
  • Eaton Corporation PLC
  • Siemens AG
  • Oracle Corporation
  • Schneider Electric SE
  • Osaki Electric Co.

Key players competing in the global smart grid network market include General Electric Company, Cisco Systems Inc., Itron Inc., ABB Ltd., Eaton Corporation PLC, Siemens AG, Oracle Corporation, Schneider Electric SE, and Osaki Electric Co. Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
 

Smart Grid Network Market Key Players

Buy Report