Market Overview:
The global smart grid networking market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth of this market can be attributed to the increasing demand for energy efficiency and the need for reliable and secure communication networks in smart grids. The global smart grid networking market can be segmented on the basis of type, application, and region. On the basis of type, the market can be divided into hardware and software. The hardware segment is further sub-segmented into meters, sensors, switches & routers, controllers & inverters, and others. The software segment is further sub-segmented into network management software (NMS), distribution management system (DMS), outage management system (OMS), energy management system (EMS), substation automation systems (SAS), security solutions/firewalls/vulnerability assessment toolsets & intrusion detection systems(IDS)/intrusion prevention systems(IPS)), billing & customer information system (CIS)and other software applications .On the basis of application ,the market can be classified as commercial sector and industrial sector . Someof themajor players operatingin thismarket are ABB Ltd.(Switzerland ), Cisco Systems Inc.(U S ), General Electric Co.(U S ), Huawei Technologies Co., Ltd.
Product Definition:
Smart Grid Networking is the process of connecting various devices within a smart grid infrastructure. This allows for two-way communication between devices, which helps to optimize energy usage and improve grid reliability. The importance of Smart Grid Networking lies in its ability to help utilities manage their grids more effectively and provide consumers with more control over their energy usage.
Hardware:
Hardware is the part of smart grid networking that includes all electronic devices and components which are used to build a communication network between the source of energy (generator, solar panel) and loads/consumer (households, industries). Hardware components include switches, routers, modems. The hardware also facilitates load-side management including metering & automation along with providing information on power quality & reliability.
Smart grid networking hardware market by region: North America (U.S.
Software:
Software is the set of instructions, which controls and monitors the overall functioning of a computer system. It comprises a series of applications that provide integrated functionalities to perform specific tasks. In present scenario, software is used in smart grid networking for various purposes such as automation control, asset management & maintenance control, communication control and data acquisition & monitoring among others.
Smart grid networking software helps in optimizing power transmission between renewable energy sources (wind or solar).
Application Insights:
The commercial segment held the largest share of over 60.0% in 2017. The growth can be attributed to the increasing number of smart grid projects in developed economies such as U.S., Germany, and France for commercial applications owing to a growing need for improving electric power distribution systems and reducing electricity costs across municipal corporations. Furthermore, deployment of IoT devices in commercial buildings will also boost the demand for network connectivity, thereby driving the market growth over forecast period.
Industrial application is expected to witness significant growth with a CAGR exceeding 15% from 2018 to 2030 owing to an increase in industrial automation systems that are highly dependent on electrical grids for operating machinery and other equipment efficiently while minimizing energy consumption through effective usage of sensors within industrial networks connected with cloud-based IT resources providing real-time data analysis capabilities which are further anticipated to drive industry expansion over projected period thus forming beneficial basis for regional development contributing towards overall global Smart Grids Networking Market Growth during same period under study.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period. This can be attributed to increasing investments in smart grid infrastructure development and growing adoption of innovative technologies across various end-use industries. Moreover, presence of prominent players such as General Electric; Siemens; Honeywell International Inc.; and Allianz SE is also contributing toward regional growth.
Asia Pacific region accounted for a relatively smaller share owing to lower penetration rates, slower adoption of emerging technologies, and less developed infrastructure compared with other regions mentioned above. However, this scenario is expected to change over the next eight years due to increasing government initiatives for developing smart grids across countries such as China and India along with other Southeast Asian nations at a faster pace than North America or Europe regions do today’s date).
Growth Factors:
- Increasing demand for energy due to population growth and industrialization in developing countries
- Rapid deployment of smart grid technologies by utilities to improve grid reliability and efficiency
- Proliferation of renewable energy sources such as solar and wind, which require smart grids for efficient integration into the power grid
- Stringent government regulations mandating the adoption of smart grids to improve grid security and reduce greenhouse gas emissions
- Growing demand for data-driven analytics services from utilities to optimize operations and manage customer engagement
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart Grid Networking Market Research Report
By Type
Hardware, Software
By Application
Commercial, Industrial
By Companies
ABB Group, Cisco Systems, Inc., Mitsubishi Electric, Fujitsu, General Electric Company, Huawei Technologies Co. Ltd., Itron, Schneider Electric
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
206
Number of Tables & Figures
145
Customization Available
Yes, the report can be customized as per your need.
Global Smart Grid Networking Market Report Segments:
The global Smart Grid Networking market is segmented on the basis of:
Types
Hardware, Software
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Commercial, Industrial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB Group
- Cisco Systems, Inc.
- Mitsubishi Electric
- Fujitsu
- General Electric Company
- Huawei Technologies Co. Ltd.
- Itron
- Schneider Electric
Highlights of The Smart Grid Networking Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Hardware
- Software
- By Application:
- Commercial
- Industrial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Smart Grid Networking Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Smart Grid Networking is a technology that enables the seamless integration of energy management, communication and control systems into an interconnected grid. This allows for more efficient use of energy resources, improved reliability and increased safety.
Some of the key players operating in the smart grid networking market are ABB Group, Cisco Systems, Inc., Mitsubishi Electric, Fujitsu, General Electric Company, Huawei Technologies Co. Ltd., Itron, Schneider Electric.
The smart grid networking market is expected to register a CAGR of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Smart Grid Networking Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Smart Grid Networking Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Smart Grid Networking Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Smart Grid Networking Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Smart Grid Networking Market Size & Forecast, 2018-2028
4.5.1 Smart Grid Networking Market Size and Y-o-Y Growth
4.5.2 Smart Grid Networking Market Absolute $ Opportunity
Chapter 5 Global Smart Grid Networking Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Smart Grid Networking Market Size Forecast by Type
5.2.1 Hardware
5.2.2 Software
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Smart Grid Networking Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Smart Grid Networking Market Size Forecast by Applications
6.2.1 Commercial
6.2.2 Industrial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Smart Grid Networking Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Smart Grid Networking Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Smart Grid Networking Analysis and Forecast
9.1 Introduction
9.2 North America Smart Grid Networking Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Smart Grid Networking Market Size Forecast by Type
9.6.1 Hardware
9.6.2 Software
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Smart Grid Networking Market Size Forecast by Applications
9.10.1 Commercial
9.10.2 Industrial
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Smart Grid Networking Analysis and Forecast
10.1 Introduction
10.2 Europe Smart Grid Networking Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Smart Grid Networking Market Size Forecast by Type
10.6.1 Hardware
10.6.2 Software
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Smart Grid Networking Market Size Forecast by Applications
10.10.1 Commercial
10.10.2 Industrial
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Smart Grid Networking Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Smart Grid Networking Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Smart Grid Networking Market Size Forecast by Type
11.6.1 Hardware
11.6.2 Software
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Smart Grid Networking Market Size Forecast by Applications
11.10.1 Commercial
11.10.2 Industrial
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Smart Grid Networking Analysis and Forecast
12.1 Introduction
12.2 Latin America Smart Grid Networking Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Smart Grid Networking Market Size Forecast by Type
12.6.1 Hardware
12.6.2 Software
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Smart Grid Networking Market Size Forecast by Applications
12.10.1 Commercial
12.10.2 Industrial
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Smart Grid Networking Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Smart Grid Networking Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Smart Grid Networking Market Size Forecast by Type
13.6.1 Hardware
13.6.2 Software
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Smart Grid Networking Market Size Forecast by Applications
13.10.1 Commercial
13.10.2 Industrial
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Smart Grid Networking Market: Competitive Dashboard
14.2 Global Smart Grid Networking Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB Group
14.3.2 Cisco Systems, Inc.
14.3.3 Mitsubishi Electric
14.3.4 Fujitsu
14.3.5 General Electric Company
14.3.6 Huawei Technologies Co. Ltd.
14.3.7 Itron
14.3.8 Schneider Electric
