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Global Smart Grid Networking Market to Reach US$44.9 Billion by 2030

The global market for Smart Grid Networking estimated at US$25.0 Billion in the year 2023, is expected to reach US$44.9 Billion by 2030, growing at a CAGR of 8.7% over the analysis period 2023-2030. Hardware Component, one of the segments analyzed in the report, is expected to record a 7.6% CAGR and reach US$19.5 Billion by the end of the analysis period. Growth in the Software Component segment is estimated at 9.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$6.7 Billion While China is Forecast to Grow at 8.3% CAGR

The Smart Grid Networking market in the U.S. is estimated at US$6.7 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$7.0 Billion by the year 2030 trailing a CAGR of 8.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 7.7% and 7.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.9% CAGR.

Global Smart Grid Networking Market - Key Trends and Drivers Summarized

Smart Grid Networking: Building the Backbone of the Future Energy Landscape

Smart grid networking is at the core of modern energy management, providing reliable, secure, and efficient communication channels between grid components, such as smart meters, substations, and control centers. By enabling real-time data exchange, smart grid networking facilitates advanced functionalities like load balancing, demand response, and outage management. Utilities rely on robust networking infrastructure to monitor grid performance, optimize energy distribution, and enhance grid resilience. The increasing deployment of smart meters, IoT devices, and advanced communication technologies is driving the adoption of smart grid networking solutions to meet the growing demand for efficient and reliable energy management.

What Are the Emerging Trends Shaping the Smart Grid Networking Market?

Emerging trends such as 5G connectivity, private LTE networks, and advanced mesh networking are transforming the smart grid networking landscape. The rollout of 5G technology is expected to provide ultra-low latency and high-speed data transmission, enabling real-time monitoring and control of grid operations. The adoption of private LTE networks offers utilities enhanced security, coverage, and control over their communication infrastructure. Additionally, advanced mesh networks are gaining traction due to their self-healing capabilities, ensuring continuous data flow even in the event of network failures. These trends are significantly improving the reliability, scalability, and flexibility of smart grid networks, paving the way for more connected and resilient energy systems.

Which Segments Are Driving the Smart Grid Networking Market?

Key components include routers, switches, gateways, and communication modules, with communication modules leading the market due to their critical role in enabling secure and reliable data transmission. Communication technologies range from RF mesh and PLC to cellular and fiber optics, with RF mesh dominating due to its suitability for dense urban environments. Applications cover power generation, transmission, and distribution, with distribution networks holding the largest share due to the increasing deployment of smart meters and advanced distribution management systems. North America and Europe are the largest markets, driven by grid modernization efforts and regulatory mandates, while Asia-Pacific is emerging rapidly due to smart city initiatives and investments in smart grid infrastructure.

What Factors Are Driving the Growth in the Smart Grid Networking Market?

The growth in the smart grid networking market is driven by several factors, including the rising demand for secure and reliable communication networks in smart grids, the increasing deployment of advanced metering infrastructure (AMI), and the growing need for grid resilience and reliability. The adoption of 5G technology, the integration of IoT and M2M communication, and the use of advanced mesh networks and private LTE networks are propelling market growth. Moreover, investments in grid modernization, the development of decentralized energy systems and microgrids, and the increasing collaboration between utilities and telecom providers are supporting market expansion. The need for network interoperability and integration with legacy systems is also driving innovation in smart grid networking solutions.

Select Competitors (Total 12 Featured) -

• ABB Group
• Cisco Systems, Inc.
• Fujitsu Ltd.
• General Electric Company
• Huawei Technologies Co., Ltd.
• Itron, Inc.
• Mitsubishi Electric Corporation
• Schneider Electric SA
• Siemens AG
• Silver Spring Networks, Inc.

TABLE OF CONTENTS

I. METHODOLOGY

II. EXECUTIVE SUMMARY

• 1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Global Economic Update
  • Smart Grid Networking - Global Key Competitors Percentage Market Share in 2024 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
• 2. FOCUS ON SELECT PLAYERS
• 3. MARKET TRENDS & DRIVERS
  • Growing Demand for Reliable and Secure Communication Networks in Smart Grids Drives Market Growth
  • Advancements in IoT and M2M Communication Propel Smart Grid Networking Solutions
  • Increasing Deployment of Advanced Metering Infrastructure (AMI) Expands Market Opportunity
  • Rising Focus on Grid Resilience and Reliability Strengthens Business Case for Smart Grid Networking
  • Emergence of 5G Technology Supports the Evolution of Smart Grid Networking Solutions
  • Growing Need for Real-Time Data Transmission and Monitoring Drives Adoption
  • Expansion of Smart Cities Initiatives Spurs Demand for Advanced Grid Networking Infrastructure
  • Increasing Use of Mesh Networks and Private LTE Networks Enhances Market Competitiveness
  • Rising Investments in Grid Modernization and Digital Transformation Fuels Market Growth
  • Focus on Network Interoperability and Integration with Legacy Systems Supports Market Expansion
  • Adoption of Edge Computing and Fog Computing in Smart Grid Networking Drives Innovation
  • Increasing Use of Network Management and Monitoring Solutions in Smart Grids Enhances Efficiency
  • Focus on Advanced Communication Protocols and Standards Strengthens Market Potential
• 4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Smart Grid Networking Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
  • TABLE 2: World Recent Past, Current & Future Analysis for Smart Grid Networking by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • TABLE 3: World 7-Year Perspective for Smart Grid Networking by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2024 & 2030
  • TABLE 4: World Recent Past, Current & Future Analysis for Hardware by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • TABLE 5: World 7-Year Perspective for Hardware by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
  • TABLE 6: World Recent Past, Current & Future Analysis for Software by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • TABLE 7: World 7-Year Perspective for Software by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
  • TABLE 8: World Recent Past, Current & Future Analysis for Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • TABLE 9: World 7-Year Perspective for Services by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030

III. MARKET ANALYSIS

• UNITED STATES
  • Smart Grid Networking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
  • TABLE 10: USA Recent Past, Current & Future Analysis for Smart Grid Networking by Component - Hardware, Software and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 11: USA 7-Year Perspective for Smart Grid Networking by Component - Percentage Breakdown of Value Sales for Hardware, Software and Services for the Years 2024 & 2030
• CANADA
  • TABLE 12: Canada Recent Past, Current & Future Analysis for Smart Grid Networking by Component - Hardware, Software and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 13: Canada 7-Year Perspective for Smart Grid Networking by Component - Percentage Breakdown of Value Sales for Hardware, Software and Services for the Years 2024 & 2030
• JAPAN
  • Smart Grid Networking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
  • TABLE 14: Japan Recent Past, Current & Future Analysis for Smart Grid Networking by Component - Hardware, Software and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 15: Japan 7-Year Perspective for Smart Grid Networking by Component - Percentage Breakdown of Value Sales for Hardware, Software and Services for the Years 2024 & 2030
• CHINA
  • Smart Grid Networking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
  • TABLE 16: China Recent Past, Current & Future Analysis for Smart Grid Networking by Component - Hardware, Software and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 17: China 7-Year Perspective for Smart Grid Networking by Component - Percentage Breakdown of Value Sales for Hardware, Software and Services for the Years 2024 & 2030
• EUROPE
  • Smart Grid Networking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
  • TABLE 18: Europe Recent Past, Current & Future Analysis for Smart Grid Networking by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • TABLE 19: Europe 7-Year Perspective for Smart Grid Networking by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2024 & 2030
  • TABLE 20: Europe Recent Past, Current & Future Analysis for Smart Grid Networking by Component - Hardware, Software and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 21: Europe 7-Year Perspective for Smart Grid Networking by Component - Percentage Breakdown of Value Sales for Hardware, Software and Services for the Years 2024 & 2030
• FRANCE
  • Smart Grid Networking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
  • TABLE 22: France Recent Past, Current & Future Analysis for Smart Grid Networking by Component - Hardware, Software and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 23: France 7-Year Perspective for Smart Grid Networking by Component - Percentage Breakdown of Value Sales for Hardware, Software and Services for the Years 2024 & 2030
• GERMANY
  • Smart Grid Networking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
  • TABLE 24: Germany Recent Past, Current & Future Analysis for Smart Grid Networking by Component - Hardware, Software and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 25: Germany 7-Year Perspective for Smart Grid Networking by Component - Percentage Breakdown of Value Sales for Hardware, Software and Services for the Years 2024 & 2030
• ITALY
  • TABLE 26: Italy Recent Past, Current & Future Analysis for Smart Grid Networking by Component - Hardware, Software and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 27: Italy 7-Year Perspective for Smart Grid Networking by Component - Percentage Breakdown of Value Sales for Hardware, Software and Services for the Years 2024 & 2030
• UNITED KINGDOM
  • Smart Grid Networking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
  • TABLE 28: UK Recent Past, Current & Future Analysis for Smart Grid Networking by Component - Hardware, Software and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 29: UK 7-Year Perspective for Smart Grid Networking by Component - Percentage Breakdown of Value Sales for Hardware, Software and Services for the Years 2024 & 2030
• REST OF EUROPE
  • TABLE 30: Rest of Europe Recent Past, Current & Future Analysis for Smart Grid Networking by Component - Hardware, Software and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 31: Rest of Europe 7-Year Perspective for Smart Grid Networking by Component - Percentage Breakdown of Value Sales for Hardware, Software and Services for the Years 2024 & 2030
• ASIA-PACIFIC
  • Smart Grid Networking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
  • TABLE 32: Asia-Pacific Recent Past, Current & Future Analysis for Smart Grid Networking by Component - Hardware, Software and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 33: Asia-Pacific 7-Year Perspective for Smart Grid Networking by Component - Percentage Breakdown of Value Sales for Hardware, Software and Services for the Years 2024 & 2030
• REST OF WORLD
  • TABLE 34: Rest of World Recent Past, Current & Future Analysis for Smart Grid Networking by Component - Hardware, Software and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 35: Rest of World 7-Year Perspective for Smart Grid Networking by Component - Percentage Breakdown of Value Sales for Hardware, Software and Services for the Years 2024 & 2030

IV. COMPETITION