Global Smart Grid Networking Market – Size, Outlook, Trends and Forecast (2024 – 2032)

Smart grid networking is an effective way to construct intelligent grids, allowing two way communications. This system permits for analysis, monitoring, control and communication to help increase efficiency, decrease energy consumption as well as cost, and maximise the transparency and consistency of the energy supply chain.

Global Smart Grid Networking Market Segments Size & Growth:

Global smart grid networking market is accounted for $11.58 billion in 2018 and projected to grow with a CAGR of 9.03% to reach $XX billion by 2025 during the forecast period 2019-2025.  Increasing environmental concerns, limitations in capacity expansion, rising share of renewable energy in electricity and increasing peak hours’ demand for electricity are the factors bolstering the growth of the global smart grid networking market. However, increasing regulatory framework, high costs and increasing cyber security issues are hampering the growth of the market. Growing transport application and advanced control and analysis are providing a huge number of growth opportunities during the forecast period.

Global Smart Grid Networking Market Segments Share:

Global smart grid networking market is categorized into by hardware which consists of switches, smart meter communication modules, routers, controllers, cables and others.  Smart meter communication and controllers segments are anticipated to have the highest CAGR during the forecast period due to accurate energy bills, a better understanding of energy use and increasing use of mechanical operation in various applications.

On the basics software, network performance monitoring management is likely to grow at a substantial rate owing to the growing demand for real time monitoring of power consumption and energy management. Also, the growing trend of adopting smart and energy efficient management systems is one major factor driving the growth of smart grid networking market. Network risk and security assessment have substantial growth in the smart grid networking market. This growth can be attributed to enabling for the safety measures and health protection of workers.

By Geography, the Asia-Pacific region is increasing demand for electricity. Japan and South Korea are likely to be key hotspots for smart grid investment. Japan’s leading power utility, plans for an ample residential smart meter by 2020. India has propelled similar initiatives, which support smart grid deployment in the country to meet the demand for electricity, and high transmission as well as distribution loss. The U.S. has not been on the generation of electricity, as depletion patterns have not changed much. As a substitute, it emphasises on the distribution of smart grid solution. Electric companies fixed 65 million smart meters, covering above 50% of the overall U.S. households, by 2015.

Global Smart Grid Networking Market Segments Trends:

• In January 2018, Northern power grids upgrade the project to carry out EUR 83 Million smart grid and provide better efficiency.
• In January 2018, Audi has introduced a smart energy network pilot project to strengthen its position in the market.
• In June 2017, Rotterdam connected 20,000 households and companies smart grid network.

Global Smart Grid Networking Research Report:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.

To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.

Regional and global diversity is analyzed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year

Identifying DROC in the current market and their impact in altering the market dynamics.

Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial analysis with major competitors.

Expertise investment opportunities by an analyst to the individual and organization to have a better foothold in the market.

The major key Voyage Data Recorder market leaders are:

• Hitachi Ltd
• Siemens AG
• Schneider Electric SE.
• S&C Electric Company Inc.
• Osaki Electric Co. Ltd
• Oracle Corporation
• Itron Inc.
• General Electric Co.

Along with these companies, there were many other companies considered/cited in the report while analyzing the global smart grid networking market size. These companies hold substantial share is owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.