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Global Smart Grid Market By Technology(Smart T&D Equipment, Customer Interface, others), By Service (Consulting, Support and Maintenance, Others), By Component(Hardware, Software, Others), By Region–Forecast & Opportunities to 2026

Research Description

The Smart Grid in 2019 was valued approximately USD 8.1 billion and it is projected to grow at a CAGR of 6.6% till 2026 and the market is expected to see a growth in coming years. Smart grid will also provide extraordinary economic growth along with environmental growth and thus gives efficient power supply through various technologies.

Due to covid-19 impact and the ongoing lockdown globally the manufactures of smart grid hardware components have issues related with the order closer on time. Also the delay is there in the procurement of raw material which is mostly being procured from the suppliers mostly from southeast Asian countries like China.

Definition:

Smart Grid is smart electrical network that consist a smart digital communication technology and an electrical network. It delivers electricity from widely distributed sources such as solar power, turbines and hybrid electric vehicles. It is a technology that enables self-healing of a network automatically. It also improves fault detection of the network.

Market Dynamics (Drivers/Opportunities):

Smart grid reduces transmission and distribution losses. Smart grid technology manages supply & demand of electricity with continuous data exchange via networking, data & information management and data storage. This system will create a wide range of opportunities for efficient operation and for energy conservation over the forecast period

This sector is immensely supported by government and there are plenty of organizations ready for investment in smart grid technology installations. There are many upcoming projects for smart city and urbanization which give a boost to this sector

Awareness towards environmental safety is rising day by day and this is a major driving factor which will increase the market growth and there many supporting government regulation and norm for this sector due to which this sector will experience a rapid growth over the forecast period.

Market Insights, by Technology

The smart grid market is segmented on the basis of Technology into AMI, smart T&D equipment, SCADA, Customer Interface and Distribution & Network Automation

Out of these segments the SCADA segment is the dominating segment in 2019 and is expected to maintain its position and dominate the market for the entire forecast period.

Market Insights, by Services

On the basis of services the deployment and integration services is projected to grow at a highest CAGR during the forecast period. Deployment & integration services help business application by installation and integration modules in smart grids. Deployment & integration services help business by overcoming challenges and accelerating innovative technologies and it also helps businesses by creating opportunities. Thus large number of enterprises opts for this service over others.

Market Insights, by Deployment

Based on deployment the smart grid market segmented into transmission, generation and end-use. The transmission market has accounted for largest share in 2019. However, the end-user market is expected to register growth at highest CAGR during the forecast period. Lower outage response time, high energy efficiency and consumption patterns are the factors driving end-user market to register highest growth.

Regional Insights

North America is a region to see a highest market share. This region is expected to dominate the smart grid market during the forecast period. This region has been showing a great response towards adopting the latest technological advancements, such as AMI, Smart grid communication, and substation automation. This region has large-scale investments in smart grid and there are lots of smart city projects starting nowadays which require better smart grid and control mechanisms.

Middle East and Africa (MEA) is seeking growth in this sector. It is projected to be one of the fastest-growing regions in the global smart grid market. MEA region has huge reservoirs of conventional and renewable energy sources. With growing smart city projects and urbanization in this sector, the demand for smart grid is increasing rapidly. It is projected to see a rapid growth over the forecast periods.

Key Companies & Market Share Insights

This sector is highly cost-intensive and required massive raw materials which are quite expensive. There are many industries investing in research & development in this sector for generating advanced technological systems so that they can outrage competitors in the market.

Key player in this industry are Wipro, Oracle, OSI, Honeywell, Globema, Tech Mahindra, Eaton, Fujitsu, Siemens AG, ABB Ltd., General Electric Company, Schneider Electric SA etc are the key player in this sector.

Segments Covered in the Report

This report forecasts The Smart Grid Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the Smart Grid Market report on the basis of Technology, Services, and deployment.

Smart Grid Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  3. Executive Summary
    • Market Snapshot
  4. Industry Insights
    • Industry ecosystem analysis
      • ValueChain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Smart Grid Market, By Technology, Market Size and Forecast 2026

(USD Million 2017, 2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Smart T&D Equipment
  • Distribution & Network Automation
  • Advanced Metering Infrastructure
  • Customer Interface
  • Supervisory Control and Data Acquisition(SCADA)
  1. Smart Grid Market, By Service, Market Size and Forecast 2026

(USD Million 2017, 2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Consulting
  • Support & Maintenance
  • Deployment & Integration
  1. Smart Grid Market, By Component, Market Size and Forecast 2026

(USD Million 2017, 2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Hardware
  • Software
  • Service
  1. Smart Grid Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Technology
    • By Component
    • BY Service
    • BY Country
      • USA
        • By Service
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Technology
      • By Component
      • BY Service
      • BY Country
        • Brazil
          • By Service
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Technology
        • By Component
        • BY Service
        • BY Country
          • UK
            • By Service
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Technology
          • By Component
          • BY Service
          • BY Country
            • China
              • By Service
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Technology
            • By Component
            • BY Service
            • BY Country
              • Saudi Arabia
                • By Service
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Siemens AG
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • ABB Ltd.
    • General Electric Company
    • Schneider Electric SA
    • Aclara Technologies
    • Landis+Gyr
    • Itron
    • Cisco
    • IBM
    • Wipro
    • Oracle
    • OSI
    • Honeywell
    • Globema
    • Tech Mahindra
    • Eaton
    • Fujitsu
    • eSmart System
  2. Appendix
    • Interrelated Market

 

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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