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Smart Grid: Global Markets to 2026

Smart Grid: Global Markets to 2026

Report Scope:

In this report, the market has been segmented based on component, end user and geography. The report provides an overview of the global market for smart grid and analyzes market trends. Using 2020 as the base year, the report provides estimated market data for the forecast period from 2021 through 2026. Market values have been estimated based on total revenues of the smart grid manufacturers and electricity/power providers.

This report covers the market for smart grids with regards to their implementation across different regions. It also focuses on the major trends and challenges that will affect the market and the vendor landscape.

Report Includes:

- 33 tables
- An updated overview of the global market for smart grid technologies
- Analyses of the global market trends, with data from 2020, estimates for 2021, 2022 and 2024, and projections of compound annual growth rates (CAGRs) through 2026
- Highlights of emerging technology trends, opportunities and gaps estimating current and future demand for smart grid network, and impact of COVID-19 on the progress of this market
- Evaluation and forecast the smart grid market size (by number of units installation and product sales in dollar value terms), and corresponding market share analysis by component, grid type, end user vertical, and geography
- Identification of the companies best positioned to meet the demand owing to their proprietary technologies, new industry specific developments, and other growth strategies
- Assessment of the smart grid market dynamics (DROs), technology advancements, power industry structure, government regulations, and other macroeconomic factors affecting the marketplace
- Company profiles descriptions of the major manufacturers of smart grid infrastructure. Key players including Eaton, Fujitsu Ltd., General Electric, Honeywell, Landis+Gyr, Schneider Electric, Siemens etc.

Summary:

The smart grid, regarded as the next generation power grid, uses two-way flows of electricity and information to create a widely distributed automated energy delivery network.

Most countries around the globe face the predominant issues of power losses and concerns of resilience from the traditional electric transmission and distribution infrastructure. Hence, many countries have been making significant investments in research while collaborating with key players and deploying smart grid infrastructure in an effort to modernize the current grid. The smart grid market is likely to be boosted during the forecast period of this report due to the smart grid’s energy efficiency benefits and the move towards grid digitalization.

A smart grid infrastructure offers a key advantage of incorporating renewable energy sources in the current electricity grid. Therefore, it enables the creation of a hybrid grid while supporting the rising requirement for energy protection. Promising government initiatives aimed at sustainable energy production that require dependable power infrastructure are projected to accelerate smart grid market through 2025.

Leading players in the smart grid market include ABB, Aclara, C3 Energy, Cisco, Eaton, Enel X North America, eSmart Systems, EsyaSoft, Fujitsu, General Electric, Globema, Grid4C, Honeywell, IBM, Itron, Kamstrup, Landis+Gyr, Oracle, and OSI. All these companies are investing in smart grid technology as a response to increasing demand for energy management and automation. Increasing collaborations and mergers and acquisitions, along with product development and launches, are expected to optimize the environmental and economic advantages by enhancing and utilizing new and innovative ideas and technologies.

The value of the global smart grid market was estimated at REDACTED in 2020 and is forecast to reach REDACTED through 2026, growing at a CAGR of REDACTED during the forecast period. There continues to be rapid growth in urbanization and industrialization due to the development of emerging economies and because of this growth there is expected to be increased investments in smart grids across the globe.

Smart grid technology is enabled by advanced sensors called as Phasor Measurement Units (PMUs), which allow operators to measure grid stability; advanced digital meters that provide consumers with information and report outages automatically; relays for sensing and automatically recovering from errors in the substation; automated feeder switches for re-routing power; and batteries for storing surplus energy and making it available in the future to the grid to meet demand.

Smart grid technology is increasingly viewed as a strategic infrastructural investment that will facilitate long-term economic prosperity and maximize profits while conserving power.

The European Union launched a strategic energy technology project in 2006 for the advancement of a smart power system by 2036. The EU set a target to improve energy efficiency by REDACTED by 2020. To improve its share of renewable energy by REDACTED and to minimize its greenhouse gas emissions by REDACTED, the EU undertook efforts to streamline and slacken its aging electricity grid, generate economies of scale for renewable energy and encourage consumer proficiencies.
Table of Contents
Chapter 1 Introduction
Introduction
Study Goals and Objectives
Scope of Report
Reasons for Doing This Study
Intended Audiences
Information Sources
Methodology
Geographic Breakdown
Analyst's Credentials
BCC Custom Research
Related BCC Research Reports
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
Overview
Impact of COVID-19 on the Smart Grid Market
Smart Grid, by Type
Generation
Transmission
Distribution
Consumption
Use Cases for the Smart Grid
Market Drivers
Growing Investments
Advanced Metering Infrastructure
Increasing Consumer Adoption of Home Automation
Market Challenges
Cost Challenge
Procedural Challenges
Technical Challenges
Market Opportunities
Electric Vehicles
Smart Homes
Smart Cities
Chapter 4 Market Breakdown by Component
Introduction
Hardware
Sensor-Controlled Appliances
Software
Services
Chapter 5 Market Breakdown by End User
Introduction
Residential
Commercial
Industrial
Chapter 6 Market Breakdown by Geographical Region
Introduction
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Spain
Asia-Pacific
China
India
Japan
South Korea
Rest of the World (RoW)
Chapter 7 Company Profiles
ADVANCED MICRO DEVICES INC.
ABB LTD.
ACLARA
C3 AI INC.
CISCO SYSTEMS INC.
CYANCONNODE HOLDINGS PLC
DISCOVERGY GMBH
EATON
ENEL X NORTH AMERICA
ESMART SYSTEMS
ESYASOFT TECHNOLOGIES PVT., LTD.
FIRECOMMS
FUJITSU LTD.
GENERAL ELECTRIC
GLOBEMA
GRAM POWER
GRID4C
HONEYWELL
IBM
ITRON
KAMSTRUP
LANDIS+GYR
ORACLE
OPEN SYSTEMS INTERNATIONAL INC. (OSI)
POWER PLUS COMMUNICATIONS (PPC)
S&C ELECTRIC CO.
SAGEMCOM
SCHNEIDER ELECTRIC
SENSUS
SIEMENS
SPARKMETER INC.
TANTALUS
TECH MAHINDRA
TRILLIANT HOLDINGS
WATTWATCHERS
WIPRO LTD.
Chapter 8 Appendix: List of Acronyms

List of Tables
Summary Table : Global Smart Grid Market, by Region, Through 2026
Table 1 : Three Major Systems within the Smart Grid
Table 2 : Smart Grid Use Cases
Table 3 : Impact of Income on the Interest in Buying Home Automation Solutions
Table 4 : Comparing the Traditional Grid and the Smart Grid
Table 5 : Global Smart Grid Market, by Component, Through 2026
Table 6 : Global Smart Grid Hardware Market, by Region, Through 2026
Table 7 : Global Smart Grid Hardware Market, by End User, Through 2026
Table 8 : Global Smart Grid Software Market, by Region, Through 2026
Table 9 : Global Smart Grid Software Market, by End User, Through 2026
Table 10 : Global Smart Grid Services Market, by Region, Through 2026
Table 11 : Global Smart Grid Services Market, by End User, Through 2026
Table 12 : Global Smart Grid Market, by End User, Through 2026
Table 13 : Global Smart Grid Residential Market, by Region, Through 2026
Table 14 : Global Smart Grid Residential Market, by Component, Through 2026
Table 15 : Global Smart Grid Commercial Market, by Region, Through 2026
Table 16 : Global Smart Grid Commercial Market, by Component, Through 2026
Table 17 : Global Smart Grid Industrial Market, by Region, Through 2026
Table 18 : Global Smart Grid Industrial Market, by Component, Through 2026
Table 19 : Global Smart Grid Market, by Region, Through 2026
Table 20 : North American Smart Grid Market, by Country, Through 2026
Table 21 : North American Smart Grid Market, by Component, Through 2026
Table 22 : North American Smart Grid Market, by End User, Through 2026
Table 23 : European Smart Grid Market, by Country, Through 2026
Table 24 : European Smart Grid Market, by Component, Through 2026
Table 25 : European Smart Grid Market, by End User, Through 2026
Table 26 : Asia-Pacific Smart Grid Market, by Country, Through 2026
Table 27 : Asia-Pacific Smart Grid Market, by Component, Through 2026
Table 28 : Asia-Pacific Smart Grid Market, by End User, Through 2026
Table 29 : RoW Smart Grid Market, by Sub-Region, Through 2026
Table 30 : RoW Smart Grid Market, by Component, Through 2026
Table 31 : RoW Smart Grid Market, by End User, Through 2026
Table 32 : Acronyms Used in this Report

List of Figures
Summary Figure : Global Smart Grid Market Share, by Region, 2020
Figure 1 : Smart Grid Benefits
Figure 2 : Smart Grid Value Chain
Figure 3 : Smart Grid Use Cases
Figure 4 : Annual Smart Grid Investment (of Total Grid Information and Control Technology Investment)
Figure 5 : U.S. Smart Meter Installations, Jan. 2015–Dec. 2020
Figure 6 : U.S. Resident Population, by Generation, 2019
Figure 7 : Global Smart Grid Market Share, by Component, 2020
Figure 8 : Global Smart Grid Market Share, by Component, 2026
Figure 9 : Global Smart Grid Hardware Market Share, by Region, 2020
Figure 10 : Global Smart Grid Hardware Market Share, by Region, 2026
Figure 11 : Global Smart Grid Hardware Market Share, by End User, 2020
Figure 12 : Global Smart Grid Hardware Market Share, by End User, 2026
Figure 13 : Global Smart Grid Software Market Share, by Region, 2020
Figure 14 : Global Smart Grid Software Market Share, by Region, 2026
Figure 15 : Global Smart Grid Software Market Share, by End User, 2020
Figure 16 : Global Smart Grid Software Market Share, by End User, 2026
Figure 17 : Global Smart Grid Services Market Share, by Region, 2020
Figure 18 : Global Smart Grid Services Market Share, by Region, 2026
Figure 19 : Global Smart Grid Services Market Share, by End User, 2020
Figure 20 : Global Smart Grid Services Market Share, by End User, 2026
Figure 21 : Global Smart Grid Market Share, by End User, 2020
Figure 22 : Global Smart Grid Market Share, by End User, 2026
Figure 23 : Global Smart Grid Residential Market Share, by Region, 2020
Figure 24 : Global Smart Grid Residential Market Share, by Region, 2026
Figure 25 : Global Smart Grid Residential Market Share, by Component, 2020
Figure 26 : Global Smart Grid Residential Market Share, by Component, 2026
Figure 27 : Global Smart Grid Commercial Market Share, by Region, 2020
Figure 28 : Global Smart Grid Commercial Market Share, by Region, 2026
Figure 29 : Global Smart Grid Commercial Market, by Component, 2020
Figure 30 : Global Smart Grid Commercial Market Share, by Component, 2026
Figure 31 : Global Smart Grid Industrial Market Share, by Region, 2020
Figure 32 : Global Smart Grid Industrial Market Share, by Region, 2026
Figure 33 : Global Smart Grid Industrial Market Share, by Component, 2020
Figure 34 : Global Smart Grid Industrial Market Share, by Component, 2026
Figure 35 : Global Smart Grid Market Share, by Region, 2020
Figure 36 : Global Smart Grid Market Share, by Region, 2026
Figure 37 : North American Smart Grid Market Share, by Country, 2020
Figure 38 : North American Smart Grid Market Share, by Country, 2026
Figure 39 : North American Smart Grid Market Share, by Component, 2020
Figure 40 : North American Smart Grid Market Share, by Component, 2026
Figure 41 : North American Smart Grid Market Share Grid, by End User, 2020
Figure 42 : North American Smart grid Market Share, by End User, 2026
Figure 43 : European Smart Grid Market Share, by Country, 2020
Figure 44 : European Smart Grid Market Share, by Country, 2026
Figure 45 : European Smart Grid Market Share, by Component, 2020
Figure 46 : European Smart Grid Market Share, by Component, 2026
Figure 47 : European Smart Grid Market Share, by End User, 2020
Figure 48 : European Smart Grid Market Share, by End User, 2026
Figure 49 : Asia-Pacific Smart Grid Market Share, by Country, 2020
Figure 50 : Asia-Pacific Smart Grid Market Share, by Country, 2020
Figure 51 : Asia-Pacific Smart Grid Market Share, by Component, 2020
Figure 52 : Asia-Pacific Smart Grid Market Share, by Component, 2026
Figure 53 : Asia-Pacific Smart Grid Market Share, by End User, 2020
Figure 54 : Asia-Pacific Smart Grid Market Share, by End User, 2026
Figure 55 : RoW Smart Grid Market Share, by Sub-Region, 2020
Figure 56 : RoW Smart Grid Market Share, by Sub-Region, 2026
Figure 57 : RoW Smart Grid Market Share, by Component, 2020
Figure 58 : RoW Smart Grid Market Share, by Component, 2026
Figure 59 : RoW Smart Grid Market Share, by End User, 2020
Figure 60 : RoW Smart Grid Market Share, by End User, 2026

Report Title: Smart Grid: Global Markets to 2026


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