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August 1, 2024Global Next-Generation Smart Grid Solutions Market, 2024-2030
$3695 – $5195
The next-generation smart grid solutions market is experiencing significant growth and innovation as utilities worldwide seek to modernize and enhance the efficiency of their power distribution systems. This market is characterized by the integration of advanced technologies such as smart meters, grid automation, communication networks, and artificial intelligence. Key drivers for the adoption of these solutions include the need for improved grid reliability, integration of renewable energy sources, and the rising demand for energy efficiency.
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Report Summary
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- The next-generation smart grid solutions market is experiencing significant growth and innovation as utilities worldwide seek to modernize and enhance the efficiency of their power distribution systems. This market is characterized by the integration of advanced technologies such as smart meters, grid automation, communication networks, and artificial intelligence. Key drivers for the adoption of these solutions include the need for improved grid reliability, integration of renewable energy sources, and the rising demand for energy efficiency.
- Major players in the market, including General Electric (GE), Siemens, ABB, and Schneider Electric, are at the forefront of providing comprehensive smart grid solutions. These solutions encompass intelligent substations, distribution automation, cybersecurity measures, and advanced metering infrastructure. As the world transitions towards a more sustainable energy future, the market also sees the integration of renewable energy sources, demand response programs, and electrification of transportation into the smart grid ecosystem.
- The convergence of big data analytics, artificial intelligence, and IoT technologies is empowering utilities to make data-driven decisions, optimize grid operations, and enhance predictive maintenance. Cybersecurity remains a critical focus to protect smart grid infrastructure from potential threats. The market is witnessing standardization efforts to ensure interoperability among diverse components and systems. Overall, the next-generation smart grid solutions market is poised for continued expansion, driven by the ongoing global energy transition and the need for resilient, sustainable, and intelligent power distribution systems.
- In North America, particularly in the United States, the smart grid market has seen substantial growth due to government initiatives, regulatory support, and a focus on grid modernization. The region has witnessed extensive deployment of advanced metering infrastructure (AMI) and grid automation systems. Utilities in North America are increasingly investing in technologies such as distribution management systems and demand response programs to enhance grid reliability and accommodate a growing share of renewable energy sources. Moreover, the integration of electric vehicle infrastructure is gaining traction, contributing to the overall evolution of the smart grid landscape.
- The Asia-Pacific region is experiencing rapid urbanization and industrialization, driving the demand for efficient and reliable energy infrastructure. Countries such as China, Japan, and South Korea are making substantial investments in smart grid projects to address the challenges of growing energy demand and environmental concerns. China, in particular, has ambitious plans for smart grid deployment, with a focus on integrating renewable energy, enhancing grid reliability, and adopting electric vehicles. In Southeast Asia, the smart grid market is gradually gaining momentum as governments recognize the importance of technology-driven solutions for sustainable energy development.
Table of Content
1. Report Scope
1.1. Market Segmentation and scope
1.2. Regional Scope
1.3. Estimates and forecast timeline
2. Market Research Methodology
2.1. Research methodology and design
2.2. Sample selection
2.3. Reliability and validity
3. Executive Summary
4. Market Analysis
4.1. Market size and growth rates
4.2. Market growth drivers, market dynamics and trends
4.3. Market scenarios and opportunity forecasts
4.4. Market constraints and challenges
4.5. Industry value chain analysis
4.6. Industry analysis – Porter’s
4.6.1. Threat of new entrants
4.6.2. Bargaining power of suppliers
4.6.3. Bargaining power of buyers
4.6.4. Threat of substitutes
4.6.5. Competitive rivalry
4.7. PEST analysis
4.7.1. Political/legal landscape
4.7.2. Economic landscape
4.7.3. Social landscape
4.7.4. Technological landscape
5. Market Breakdown by Component
5.1. Introduction
5.2. Hardware
5.2.1. Smart Meters
5.2.2. Sensors
5.2.3. Communication Infrastructure
5.2.4. Transformers
5.2.5. Others
5.3. Software
5.3.1. Grid Management Systems
5.3.2. Asset Management Systems
5.3.3. Data Analytics and AI/ML Platforms
5.3.4. Security and Cybersecurity Solutions
5.3.5. Customer Engagement and Billing Systems
5.4. Services
5.4.1. Consulting
5.4.2. Deployment and Integration
5.4.3. Support and Maintenance
5.4.4. Training and Education
6. Market Breakdown by Technology
6.1. Introduction
6.2. Advanced Metering Infrastructure (AMI)
6.3. Grid Automation
6.4. Communication Networks
6.5. Renewable Energy Integration
6.5.1. Distributed Energy Resources (DERs)
6.5.2. Microgrids
6.5.3. Energy Storage
6.6. Big Data Analytics
6.7. Cybersecurity
6.8. Artificial Intelligence (AI) and Machine Learning
6.9. Others
7. Market Breakdown by Application
7.1. Introduction
7.2. Generation
7.3. Transmission
7.4. Distribution
7.5. Consumption
8. Market Breakdown by End User
8.1. Introduction
8.2. Utilities
8.3. Industrial
8.4. Commercial
8.5. Residential
9. Market Breakdown – by Geography
9.1. North America
9.1.1. North America Next-Generation Smart Grid Solutions Market, 2024-2030
9.1.2. North America Next-Generation Smart Grid Solutions Market, by Component
9.1.3. North America Next-Generation Smart Grid Solutions Market, by Technology
9.1.4. North America Next-Generation Smart Grid Solutions Market, by Application
9.1.5. North America Next-Generation Smart Grid Solutions Market, by End User
9.1.6. North America Next-Generation Smart Grid Solutions Market, by Country
9.1.6.1. U.S.
9.1.6.2. Canada
9.1.6.3. Mexico
9.2. South America
9.2.1. South America Next-Generation Smart Grid Solutions Market, 2024-2030
9.2.2. South America Next-Generation Smart Grid Solutions Market, by Component
9.2.3. South America Next-Generation Smart Grid Solutions Market, by Technology
9.2.4. South America Next-Generation Smart Grid Solutions Market, by Application
9.2.5. South America Next-Generation Smart Grid Solutions Market, by End User
9.2.6. South America Next-Generation Smart Grid Solutions Market, by Country
9.2.6.1. Argentina
9.2.6.2. Brazil
9.2.6.3. Others
9.3. Europe
9.3.1. Europe Next-Generation Smart Grid Solutions Market, 2024-2030
9.3.2. Europe Next-Generation Smart Grid Solutions Market, by Component
9.3.3. Europe Next-Generation Smart Grid Solutions Market, by Technology
9.3.4. Europe Next-Generation Smart Grid Solutions Market, by Application
9.3.5. Europe Next-Generation Smart Grid Solutions Market, by End User
9.3.6. Europe Next-Generation Smart Grid Solutions Market, by Country
9.3.6.1. Germany
9.3.6.2. France
9.3.6.3. U.K.
9.3.6.4. Russia
9.3.6.5. Italy
9.3.6.6. Spain
9.3.6.7. Sweden
9.3.6.8. Switzerland
9.3.6.9. Finland
9.3.6.10. Ireland
9.3.6.11. Poland
9.3.6.12. Austria
9.3.6.13. Norway
9.3.6.14. Netherlands
9.3.6.15. Others
9.4. Asia-Pacific
9.4.1. APAC Next-Generation Smart Grid Solutions Market, 2024-2030
9.4.2. APAC Next-Generation Smart Grid Solutions Market, by Component
9.4.3. APAC Next-Generation Smart Grid Solutions Market, by Technology
9.4.4. APAC Next-Generation Smart Grid Solutions Market, by Application
9.4.5. APAC Next-Generation Smart Grid Solutions Market, by End User
9.4.6. APAC Next-Generation Smart Grid Solutions Market, by Country
9.4.6.1. China
9.4.6.2. Japan
9.4.6.3. South Korea
9.4.6.4. India
9.4.6.5. Singapore
9.4.6.6. Australia
9.4.6.7. Others
9.5. Middle East & Africa
9.5.1. MEA Next-Generation Smart Grid Solutions Market, 2024-2030
9.5.2. MEA Next-Generation Smart Grid Solutions Market, by Component
9.5.3. MEA Next-Generation Smart Grid Solutions Market, by Technology
9.5.4. MEA Next-Generation Smart Grid Solutions Market, by Application
9.5.5. MEA Next-Generation Smart Grid Solutions Market, by End User
9.5.6. MEA Next-Generation Smart Grid Solutions Market, by Country
9.5.6.1. Saudi Arabia
9.5.6.2. UAE
9.5.6.3. Israel
9.5.6.4. Qatar
9.5.6.5. South Africa
9.5.6.6. Others
10. Competitive Landscape
10.1. Company Market Positioning
10.2. Company Geographical Presence Analysis
10.3. Market Revenue Share Analysis (%), by Leading Players
11. Company Profiles
· Company Overview
· Financial Performance
· Product Benchmarking
· Recent Developments
Established Players
1. General Electric
2. Siemens
3. Schneider Electric
4. ABB
5. Eaton
6. Itron
7. Landis+Gyr
8. EDMI
9. Enel
10.Engie
11. Iberdrola
12. Honeywell
13. Cisco
14. Huawei
15. Microsoft
16. IBM
17. Oracle
Emerging Players
18. GridBeyond
19. sonnen GmbH
20. AutoGrid
21. Greenbird Integration Technology
22. Enchanted Rock
23. Guardtime