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Smart Grid Market by Technology (Advanced Metering Infrastructure, Distribution Automation, Software & Hardware, Communication Service, Cyber Security, and Transmission Upgrades) and by Service (Consulting, Deployment & Integration, and Support & Maintenance): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2024

Published Date: 06-Dec-2018 Category: Energy & Mining Report Format : PDF Pages: 110 Report Code: ZMR-3603 Status : Published

Global smart grid market expected to generate revenue of around USD 60.29 billion by 2024, growing at a CAGR of around 10.56% between 2018 and 2024. The increasing investments made for grid digitalization with the help of smart and advanced technologies by business organizations are likely to boost the smart grid market growth in the upcoming years.

Description

The report covers a forecast and an analysis of the smart grid market on a global and regional level. The study provides historical data for 2015, 2016, and 2017 along with a forecast from 2018 to 2024 based on revenue (USD Billion). The study includes drivers and restraints for the smart grid market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the smart grid market on a global level.

In order to give the users of this report a comprehensive view of the smart grid market, we have included a competitive landscape and an analysis of Porter’s Five Forces Model for the market. The study encompasses a market attractiveness analysis, wherein the technology, service, and regional segments are benchmarked based on their market size, growth rate, and general attractiveness.

Global Smart Grid Market

The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new technology launch, agreements, partnerships, collaborations & joint ventures, research & development, technology, and regional expansion of major participants involved in the market on a global and regional basis. Moreover, the study covers price trend analysis and product portfolio of various companies according to the region.

The study provides a decisive view on the smart grid market by segmenting the market based on technology, ServiceService, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2018 to 2024. The regional segmentation includes the historical and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. This segmentation includes the demand for smart grid market based on all the segments in all the regions and countries.

Some industry players operating in the global smart grid market include Siemens, ABB, General Electric, Itron, Schneider Electric, Belden, Honeywell, Hubbell, Landis+Gyr, Oracle, Cisco, Fujitsu General, IBM, and Wipro.

This report segments the global smart grid market as follows:

Global Smart Grid Market: Technology Segment Analysis

  • Advanced Metering Infrastructure
  • Distribution Automation
  • Software & Hardware
  • Communication Service
  • Cyber Security
  • Transmission Upgrades

Global Smart Grid Market: Service Segment Analysis

  • Consulting
  • Deployment & Integration
  • Support & Maintenance

Global Smart Grid Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

Table Of Content

  • Chapter 1. Introduction
    • 1.1. Report description and scope
    • 1.2. Research scope
    • 1.3. Research methodology
      • 1.3.1. Market research process
      • 1.3.2. Market research methodology
  •  
  • Chapter 2. Executive Summary
    • 2.1. Global Smart Grid market, 2015 - 2024 (USD Billion)
    • 2.2. Global Smart Grid market: snapshot
  •  
  • Chapter 3. Smart Grid Market- Dynamics
    • 3.1. Introduction
    • 3.2. Market Drivers
      • 3.2.1. Global Smart Grid market drivers: impact analysis
      • 3.2.2. Modernization of aging grid infrastructure
    • 3.3. Market Restraints
      • 3.3.1. Global Smart Grid market restraints: impact analysis
      • 3.3.2. Smart Grid Cybersecurity and its susceptibilities
    • 3.4. Opportunities
      • 3.4.1. Regulatory policies and initiatives by the government
    • 3.5. Porter's Five Forces Analysis
    • 3.6. Market Attractiveness Analysis
      • 3.6.1. Market attractiveness analysis, by Technology Segment
      • 3.6.2. Market attractiveness analysis, by Service Segment
      • 3.6.3. Market attractiveness analysis, by Regional Segment
  •  
  • Chapter 4. Global Smart Grid Market- Competitive Landscape
    • 4.1. Company market share analysis
      • 4.1.1. Global Smart Grid market: company market share, 2017
    • 4.2. Strategic development
      • 4.2.1. Acquisitions & mergers
      • 4.2.2. New product launch
      • 4.2.3. Agreements, partnerships, collaborations and joint ventures
      • 4.2.4. Research and development and regional expansion
  •  
  • Chapter 5. Global Smart Grid Market- Technology Segment Analysis
    • 5.1. Global Smart Grid market: Technology overview
      • 5.1.1. Global Smart Grid market revenue share, by Technology, 2017 and 2024
    • 5.2. Advanced Metering Infrastructure
      • 5.2.1. Global Smart Grid market for Advanced Metering Infrastructure market, 2015 - 2024 (USD Billion)
    • 5.3. Distribution Automation
      • 5.3.1. Global Smart Grid market for Distribution Automation market, 2015 - 2024 (USD Billion)
    • 5.4. Software & Hardware
      • 5.4.1. Global Smart Grid market for Software & Hardware market, 2015 - 2024 (USD Billion)
    • 5.5. Communication Service
      • 5.5.1. Global Smart Grid market for Communication Service market, 2015 - 2024 (USD Billion)
    • 5.6. Cyber Security
      • 5.6.1. Global Smart Grid market for Cyber Security market, 2015 - 2024 (USD Billion)
    • 5.7. Transmission Upgrades
      • 5.7.1. Global Smart Grid market for Transmission Upgrades market, 2015 - 2024 (USD Billion)
  •  
  • Chapter 6. Global Smart Grid Market- Service Segment Analysis
    • 6.1. Global Smart Grid market: Service overview
      • 6.1.1. Global Smart Grid market revenue share, by Service, 2017 and 2024
    • 6.2. Consulting
      • 6.2.1. Global Smart Grid market for Consulting market, 2015 - 2024 (USD Billion)
    • 6.3. Deployment & Integration
      • 6.3.1. Global Smart Grid market for Deployment & Integration market, 2015 - 2024 (USD Billion)
    • 6.4. Support & Maintenance
      • 6.4.1. Global Smart Grid market for Support & Maintenance market, 2015 - 2024 (USD Billion)
  •  
  • Chapter 7. Global Smart Grid Market- Regional Segment Analysis
    • 7.1. Global Smart Grid market: regional overview
      • 7.1.1. Global Smart Grid market revenue share, by region, 2017 and 2024
    • 7.2. North America
      • 7.2.1. North America Smart Grid market revenue, by Technology, 2015 - 2024 (USD Billion)
      • 7.2.2. North America Smart Grid market revenue, by Service, 2015 - 2024 (USD Billion)
      • 7.2.3. The U.S.
        • 7.2.3.1. The U.S. Smart Grid market revenue, by Technology, 2015 - 2024 (USD Billion)
        • 7.2.3.2. The U.S. Smart Grid market revenue, by Service, 2015 - 2024 (USD Billion)
      • 7.2.4. Canada
        • 7.2.4.1. Canada Smart Grid market revenue, by Technology, 2015 - 2024 (USD Billion)
        • 7.2.4.2. Canada Smart Grid market revenue, by Service, 2015 - 2024 (USD Billion)
      • 7.2.5. Mexico
        • 7.2.5.1. Mexico Smart Grid market revenue, by Technology, 2015 - 2024 (USD Billion)
        • 7.2.5.2. Mexico Smart Grid market revenue, by Service, 2015 - 2024 (USD Billion)
    • 7.3. Europe
      • 7.3.1. Europe Smart Grid market revenue, by Technology, 2015 - 2024 (USD Billion)
      • 7.3.2. Europe Smart Grid market revenue, by Service, 2015 - 2024 (USD Billion)
      • 7.3.3. UK
        • 7.3.3.1. UK Smart Grid market revenue, by Technology, 2015 - 2024 (USD Billion)
        • 7.3.3.2. UK Smart Grid market revenue, by Service, 2015 - 2024 (USD Billion)
      • 7.3.4. Germany
        • 7.3.4.1. Germany Smart Grid market revenue, by Technology, 2015 - 2024 (USD Billion)
        • 7.3.4.2. Germany Smart Grid market revenue, by Service, 2015 - 2024 (USD Billion)
      • 7.3.5. France
        • 7.3.5.1. France Smart Grid market revenue, by Technology, 2015 - 2024 (USD Billion)
        • 7.3.5.2. France Smart Grid market revenue, by Service, 2015 - 2024 (USD Billion)
      • 7.3.6. Spain
        • 7.3.6.1. Spain Smart Grid market revenue, by Technology, 2015 - 2024 (USD Billion)
        • 7.3.6.2. Spain Smart Grid market revenue, by Service, 2015 - 2024 (USD Billion)
      • 7.3.7. Russia
        • 7.3.7.1. Russia Smart Grid market revenue, by Technology, 2015 - 2024 (USD Billion)
        • 7.3.7.2. Russia Smart Grid market revenue, by Service, 2015 - 2024 (USD Billion)
      • 7.3.8. Italy
        • 7.3.8.1. Italy Smart Grid market revenue, by Technology, 2015 - 2024 (USD Billion)
        • 7.3.8.2. Italy Smart Grid market revenue, by Service, 2015 - 2024 (USD Billion)
    • 7.4. Asia Pacific
      • 7.4.1. Asia Pacific Smart Grid market revenue, by Technology, 2015 - 2024(USD Billion)
      • 7.4.2. Asia Pacific Smart Grid market revenue, by Service, 2015 - 2024(USD Billion)
      • 7.4.3. China
        • 7.4.3.1. China Smart Grid market revenue, by Technology, 2015 - 2024(USD Billion)
        • 7.4.3.2. China Smart Grid market revenue, by Service, 2015 - 2024(USD Billion)
      • 7.4.4. Japan
        • 7.4.4.1. Japan Smart Grid market revenue, by Technology, 2015 - 2024(USD Billion)
        • 7.4.4.2. Japan Smart Grid market revenue, by Service, 2015 - 2024(USD Billion)
      • 7.4.5. India
        • 7.4.5.1. India Smart Grid market revenue, by Technology, 2015 - 2024(USD Billion)
        • 7.4.5.2. India Smart Grid market revenue, by Service, 2015 - 2024(USD Billion)
        • 7.4.5.3. India Smart Grid market revenue, by application, 2015 - 2024(USD Billion)
      • 7.4.6. Southeast Asia
        • 7.4.6.1. Southeast Asia Smart Grid market revenue, by Technology, 2015 - 2024(USD Billion)
        • 7.4.6.2. Southeast Asia Smart Grid market revenue, by Service, 2015 - 2024(USD Billion)
      • 7.4.7. Australia
        • 7.4.7.1. Australia Smart Grid market revenue, by Technology, 2015 - 2024 (USD Billion)
        • 7.4.7.2. Australia Smart Grid market revenue, by Service, 2015 - 2024 (USD Billion)
      • 7.4.8. South Korea
        • 7.4.8.1. South Korea Smart Grid market revenue, by Technology, 2015 - 2024 (USD Billion)
        • 7.4.8.2. South Korea Smart Grid market revenue, by Service, 2015 - 2024 (USD Billion)
    • 7.5. Latin America
      • 7.5.1. Latin America Smart Grid market revenue, by Technology, 2015 - 2024(USD Billion)
      • 7.5.2. Latin America Smart Grid market revenue, by Service, 2015 - 2024(USD Billion)
      • 7.5.3. Brazil
        • 7.5.3.1. Brazil Smart Grid market revenue, by Technology, 2015 - 2024(USD Billion)
        • 7.5.3.2. Brazil Smart Grid market revenue, by Service, 2015 - 2024(USD Billion)
    • 7.6. The Middle East and Africa
      • 7.6.1. The Middle East and Africa Smart Grid market revenue, by Technology, 2015 - 2024(USD Billion)
      • 7.6.2. The Middle East and Africa Smart Grid market revenue, by Service, 2015 - 2024(USD Billion)
      • 7.6.3. GCC Countries
        • 7.6.3.1. GCC Countries Smart Grid market revenue, by Technology, 2015 - 2024 (USD Billion)
        • 7.6.3.2. GCC Countries Smart Grid market revenue, by Service, 2015 - 2024 (USD Billion)
      • 7.6.4. South Africa
        • 7.6.4.1. South Africa Smart Grid market revenue, by Technology, 2015 - 2024 (USD Billion)
        • 7.6.4.2. South Africa Smart Grid market revenue, by Service, 2015 - 2024 (USD Billion)
  •  
  • Chapter 8. Company Profile
    • 8.1. Siemens
      • 8.1.1. Overview
      • 8.1.2. Financials
      • 8.1.3. Product portfolio
      • 8.1.4. Business strategy
      • 8.1.5. Recent developments
    • 8.2. ABB
      • 8.2.1. Overview
      • 8.2.2. Financials
      • 8.2.3. Product portfolio
      • 8.2.4. Business strategy
      • 8.2.5. Recent developments
    • 8.3. General Electric
      • 8.3.1. Overview
      • 8.3.2. Financials
      • 8.3.3. Product portfolio
      • 8.3.4. Business strategy
      • 8.3.5. Recent developments
    • 8.4. Itron
      • 8.4.1. Overview
      • 8.4.2. Financials
      • 8.4.3. Product portfolio
      • 8.4.4. Business strategy
      • 8.4.5. Recent developments
    • 8.5. Schneider Electric
      • 8.5.1. Overview
      • 8.5.2. Financials
      • 8.5.3. Product portfolio
      • 8.5.4. Business strategy
      • 8.5.5. Recent developments
    • 8.6. Belden
      • 8.6.1. Overview
      • 8.6.2. Financials
      • 8.6.3. Product portfolio
      • 8.6.4. Business strategy
      • 8.6.5. Recent developments
    • 8.7. Honeywell
      • 8.7.1. Overview
      • 8.7.2. Financials
      • 8.7.3. Product portfolio
      • 8.7.4. Business strategy
      • 8.7.5. Recent developments
    • 8.8. Hubbell
      • 8.8.1. Overview
      • 8.8.2. Financials
      • 8.8.3. Product portfolio
      • 8.8.4. Business strategy
      • 8.8.5. Recent developments
    • 8.9. Oracle
      • 8.9.1. Overview
      • 8.9.2. Financials
      • 8.9.3. Product portfolio
      • 8.9.4. Business strategy
      • 8.9.5. Recent developments
    • 8.10. Cisco
      • 8.10.1. Overview
      • 8.10.2. Financials
      • 8.10.3. Product portfolio
      • 8.10.4. Business strategy
      • 8.10.5. Recent developments

Methodology

Free Analysis

A smart grid is an electric grid consisting of circuits and circuitry boards that provide a diverse range of energy and operational features including smart meters, smart appliances, energy efficient energy resources, and renewable energy resources. Smart grid was first implemented and tested in Europe and was known as a smart grid energy technology platform. Earlier, the first alternating current and electric grid were established at London in 1886. In a smart grid system, the digital technology enables in establishing a communication line between the customers and the utility core. Furthermore, the sensing and processing are followed after the message transmission along the transmission lines. This procedure makes the grid smart. A smart grid also consists of computers, advanced controls with new technologies, automation, and gears to function effectively. Additionally, a smart grid system was implemented to overcome the disadvantage of traditional and conventional electric grids that consumed more energy.

Smart grid market is experiencing a high rate of growth in developed and developing countries. To save energy followed by its efficient use is the primary factor boosting this market’s growth. Moreover, the growing need to digitalize energy and power sectors and the huge need to develop electric grid infrastructures are likely to positively impact this market. Additionally, to support the growing needs of energy, the smart grid system, and its infrastructure is required. Small- and medium-sized enterprises are desperately trying to change their business models, i.e., from volume-based business to service-based business models, to effectively and efficiently utilize energy. These factors are projected to contribute notably toward the smart grid market growth over the forecast time period. However, the lack of implementation standards might limit the smart grid market.

Global Smart Grid Market

By technology, the smart grid market is segmented into advanced metering infrastructure, distribution automation, software and hardware, communication services, cybersecurity, and transmission upgrades. By service, this market includes consulting, deployment and integration, and support and maintenance.

North America is growing significantly in the global smart grid market and is foreseen to continue its dominance over the forecast time period. The growing number of natural disasters including unplanned power outages, storms, rains, and others is going to boost smart grid market growth in the region. Moreover, government initiatives in the U.S. for planned energy consumption are likely to further drive the industry growth in this region in the future. The Asia Pacific is predicted to provide significant growth opportunities for the smart grid market in the years ahead, due to the ongoing smart home, smart building, and smart infrastructure construction activities. Additionally, the enforcement of stringent government laws for reducing carbon emissions and air pollution is likely to drive the Asia Pacific smart grid market over the forecast timeframe.

Some industry players operating in the global smart grid market include Siemens, ABB, General Electric, Itron, Schneider Electric, Belden, Honeywell, Hubbell, Landis+Gyr, Oracle, Cisco, Fujitsu General, IBM, and Wipro.

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