Global Smart Grid Network Market was valued at US $ 36.1305 Billion in 2023 and is expected to reach US $ 108.238 billion by 2032 growing at a CAGR of 14.70% during the forecast period 2024 – 2032.

It covers transforming conventional utility network into smart grid, building intelligent meters for measuring and controlling power quality, and supplying customer with energy usage data. Production increases at a lower pace than the demand, while outdated distribution networks are not able to provide satisfactory service.

Smart grid networking allows for bi-directional communication among various elements comprising a utility grid. This promotes the harmonization of units such as those involved in power generation, transmission, and distribution which ultimately facilitate efficient grid operations management. Communication installations on a power grid are aimed not only at increasing reliability and safety of utility systems. These also allow for smart automatization within the substations, demand response, distribution, supervisory control, data acquisition, energy management, info exchange, as well as optimal utilization Regulated communication among different grids in a smart grid network. Routers, gateways, bridges as interconnecting components communicate with each other forming mesh network.

Conventional circuits have been overflown because they cannot adequately handle generated electricity from renewable generators. Therefore, there should be an upward trend in the proportion of electric power generated from renewables along as total demand grows.4 The diffusion of smart-grid networking devices naturally follows smart-grid installations.

Utility operators all over the world are upping their smart grid adoption game. Smart-grid has been installed in many countries like US, Denmark and Singapore. The following companies, among others: The main players of the market are ABB, Cisco, Mitsubishi Electric, Fujitsu, GE, Huawei.:

The smart grid networking market is segmented in this report according to various parameters, including regions, hardware, software, and services. The hardware-based segment consists of others such as switches, smart meter communications modules, cables, controllers, and routers in addition to these. There are various application software categories in the market. These include monitoring and managing network performance, managing IP addresses, controlling network traffic and data, ensuring the network security among others and managing network devices. The service sector covers such areas as network planning, architecture, installation, assurance, risk and security/ vulnerability assessments, operation, maintenance and consultancy (consultative) including strategic consultative workings. Other geographic segments include NA, APAC, MEA, and LA, amongst others. These include dated utility grids of utility operators and disturbances in times of high demand for power. Moreover many homes, offices and sections depend on utility grids in order to fulfill their day-to-day necessities. This makes utility providers upgrade the aged network into a smart grid where it has efficient transmission and distribution efficiency as well as reducing the non-technical loss.

The Smart Grid Network Trend Analysis

1. Integration of Renewable Energy:

Smart grid technology allows for smooth introduction of renewable energy resources into existing infrastructures as the concerns over sustainable energy solutions continue to increase. The smart grid makes it possible for smart management and effective consumption of renewable energy sources like solar power and wind.

(b) AMI: Advanced Metering Infrastructure

Significant developments include smart meters that monitor on-time energy intake and deliver a full package of information for efficient power utilization. The use of AMI allows for the efficient delivery of power thereby reducing peak hours demand as part of demand side management

c) Edge Computing and IoT:

IoT technologies and edge computing are assisting smart grid networks in enhancing faster real-time processing and decision making on the network’ periphery. They include forward maintenance management, active observances and power system reliability.

d) Cybersecurity and Susceptibility:

Nevertheless, it strengthens connectivity of the market for smart grid that leads to additional security issues. Cyber security strengthening is becoming an important tool to protect the critical infrastructure and improve the resistance of the smart grid towards the cyber attack.

Segmentation Analysis of the Smart Grid Network Market

Components:

The component comprises a communication infrastructure, control equipment, intelligent meters, and sensors. • Apart from these constituents, the vendors also offer grid management software, cyber security software, and analytical systems. The services include managing services, consulting, installation, and maintenance.

Regarding technology:

• AMI: The intelligent network is specialized in covering the respective area for the electricity industry sector.
• DMS includes various types of equipment’s that are meant for the supervision and control operations of the electric power distribution.
• DR or drift management, also refers to utilizing a variety of technologies by utilities to manage demand during severe power scarcity or peak hours.
• The specific measures necessary to improve operational efficiencies and reliability of the grid.

Technological Advancements in Communication:

• Examples of wireless communication technologies include Wi-Fi, Zigbee, and cellular networks.
• Powerline telecommunications, also referred to as PSLC.
• Communication through fibreoptic technology is based on the reliable delivery of data using fast fibreoptics.

End User:

• Electric utilities implement smart grid technologies. Industrial sector leads other sectoral players with regard to the smart grid adoption since it focuses on enhancing operational efficiency.

• The smart metering or home automation system is employed by a highly informed consumer called the residential user.

The Deployment Mode

• On-Premise Solutions are those operating solutions that come from an end user’s own servers or computing equipment.
• For instance, cloud-based solutions are also simple to scale up as they do not require major disruptions.

Method of Application:

• Real time performance of the power grid, technology enabledThe purpose of the grid management is the optimal use of resources, and ensuring the normal functioning of the grid.
• Smart grid network security automation against cyber threats affecting systems and protocols.
• This is made possible through using data analytics for operational insights, predictive maintenance and load forecasts.

Contingency of Regulation:

• Adoption of smart grid solutions for sectors in which government regulations dominate.
• These innovations are dependent upon economic and consumer pressures to adopt

Dimensions of the Utility

• Organizations operating on a large-scale utilities basis, which typically span the national and multiregional scales.
• Small and Medium utility comprises regional and local entities.

Regional Analysis of the Smart Grid Network Market

The global smart grid network market has been classified into five distinct geographical regions: North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. The Asian pacific market can develop an energy infrastructure for the industrial sector in developing countries. Furthermore, the application of measures meant to foster uptake of renewable resources supplemented by other means further support market growth within this region.

Today, the North America market occupies the biggest part of it and is predicted to remain leading during the next years. This has been caused by the increased smart grid presence in the area and a growing consciousness about the environment in its populace. Lastly, energy demand is on the rise due to the growing pace of industry growth. Another critical element will greatly increase the growing regional call for this market.

Diverse industries were affected in various ways by the COVID-19 pandemic, including the smart grid network market. It is possible that the circumstances have changed since that time. The potential ramifications of the COVID-19 pandemic on the smart grid network market are as follows:

Chain of Supply Disruptions: As a result of the pandemic-induced disruptions in global supply chains, the delivery and production of smart grid components were impacted. The deployment schedules for smart grid initiatives might have been affected by logistics and production delays.

Project Delays: Economic uncertainties, lockdowns, and social distancing protocols may have contributed to the postponement of smart grid project planning and execution. Utilities and businesses engaged in the implementation of smart grid networks might have encountered difficulties with project management and implementation.

Due to the economic difficulties precipitated by the pandemic, governments and utilities may have been compelled to reassess their financial allocations for investments in smart grid infrastructure. The potential influence of prioritizing funds for urgent health and economic requirements on the distribution of resources to smart grid initiatives is a matter of concern.

Difficulties Associated with Remote Work: Similar to numerous other sectors, the smart grid industry may have encountered obstacles concerning remote work. Potentially affecting coordination, communication, and collaboration on smart grid initiatives were the requirements for social distancing and remote work arrangements.

Digital Transformation Acceleration: The pandemic, to its credit, brought to light the criticality of digital technologies and the requirement for robust infrastructure. This could have potentially expedited the integration of smart grid technologies, as utilities pursued more resilient and effective systems for remote network management and monitoring.

Elevated Emphasis on Grid Resilience: The significance of robust infrastructure was brought to the forefront by the pandemic. The heightened emphasis on resilience may have generated more enthusiasm for smart grid technologies, which serve to fortify the dependability and robustness of power distribution systems.

Top Key Players Covered Smart Grid Network Market

• Schneider Electric
• Siemens AG
• Johnson Controls International plc
• Honeywell International Inc.
• Energate, Inc. (Tantalus Systems Corp.)
• ABB Ltd.
• Grid Point, Inc.
• The General Electric Company
• Yokogawa Electric Corporation
• DEXMA Sensors, SL

Table of Contents

1. Introduction Of Global Smart Grid Network Market
   1. Overview of the Market
   2. Scope of Report
   3. Assumptions
2. Executive Summary
3. Research Methodology
   1. Data Mining
   2. Validation
   3. Primary Interviews
   4. List of Data Sources
4. Global Smart Grid Network Market Outlook
   1. Overview
   2. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
   3. Porters Five Force Model
      1. Bargaining Power of Suppliers
      2. Threat of New Entrants
      3. Threat of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power among Buyers
   4. Value Chain Analysis
5. Global Smart Grid Network Market, By Component
   1. Overview
   2. Hardware
   3. Software
   4. Services
6. Global Smart Grid Network Market, By Technology
   1. Overview
   2. Advanced Metering Infrastructure
   3. Distribution Management System (DMS)
   4. Demand Response (DR)
   5. Grid Optimization
   6. Communication Technology
      1. Wireless Communication
      2. Power Line Communication
      3. Fiber Optic Communication
7. Global Smart Grid Network Market By End-user
   1. Utilities
   2. Industrial Users
   3. Residential Users
8. Global Smart Grid Network Market By Deployment Model
   1. On-Premises
   2. Cloud-Based
9. Global Smart Grid Network Market By Application
   1. Grid Monitoring
   2. Grid Management
   3. Cybersecurity: Systems and protocols
   4. Data Analytics
10. Global Smart Grid Network Market By Regulatory Environment
    1. Regulation-Driven Markets
    2. Market-Driven Adoption
11. Global Smart Grid Network Market By Size of Utility
    1. Large Utilities
    2. Small and Medium-sized Utilities
12. Global Smart Grid Network Market By Region
    1. North America
       1. U.S.
       2. Canada
    2. Europe
       1. Germany
       2. U.K.
       3. France
       4. Rest of Europe
    3. Asia Pacific
       1. China
       2. Japan
       3. India
       4. South Korea
       5. Singapore
       6. Malaysia
       7. Australia
       8. Thailand
       9. Indonesia
       10. Philippines
       11. Rest of Asia Pacific
    4. Others
       1. Saudi Arabia
       2. U.A.E.
       3. South Africa
       4. Egypt
       5. Israel
       6. Rest of Middle East and Africa (MEA)
       7. Brazil
       8. Argentina
       9. Mexico
       10. Rest of South America
13. Company Profiles
    1. Schneider Electric
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News
    2. Siemens AG
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News
    3. Johnson Controls International plc
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News
    4. Honeywell International Inc.
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News
    5. Energate, Inc. (Tantalus Systems Corp.)
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News
    6. ABB Ltd.
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News
    7. Grid Point, Inc.
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News
    8. The General Electric Company
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News
    9. Yokogawa Electric Corporation
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News
    10. DEXMA Sensors, SL
        1. Company Overview
        2. Key Executives
        3. Operating Business Segments
        4. Product Portfolio
        5. Financial Performance (As per availability)
        6. Key News

Global Smart Grid Network Market Segmentation

Smart Grid Network by Component Type: Market Size & Forecast 2024-2032

• Hardware
• Software
• Services

Smart Grid Network by Technology: Market Size & Forecast 2024-2032

• Advanced Metering Infrastructure
• Distribution Management System (DMS)
• Demand Response (DR)
• Grid Optimization

Smart Grid Network by Communication Technology: Market Size & Forecast 2024-2032

• Wireless Communication
• Power Line Communication
• Fiber Optic Communication

Smart Grid Network by End-user: Market Size & Forecast 2024-2032

• Utilities
• Industrial Users
• Residential Users

Smart Grid Network by Deployment Model: Market Size & Forecast 2024-2032

• On-Premises
• Cloud-Based

Smart Grid Network by Application: Market Size & Forecast 2024-2032

• Grid Monitoring
• Grid Management
• Cybersecurity: Systems and protocols
• Data Analytics

Smart Grid Network by Regulatory Environment: Market Size & Forecast 2024-2032

• Regulation-Driven Markets
• Market-Driven Adoption

Smart Grid Network by Size of Utility: Market Size & Forecast 2024-2032

• Large Utilities
• Small and Medium-sized Utilities

Smart Grid Network by Geography: Market Size & Forecast 2024-2032

• North America (USA, Canada, Mexico)
• Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
• South America (Brazil, Argentina, Columbia, Rest of South America)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Major Players:

• Schneider Electric
• Siemens AG
• Johnson Controls International plc
• Honeywell International Inc.
• Energate, Inc. (Tantalus Systems Corp.)
• ABB Ltd.
• Grid Point, Inc.
• The General Electric Company
• Yokogawa Electric Corporation
• DEXMA Sensors, SL