Smart Grid Communications Global Market Report 2024

Description

Smart grid communications encompass integrated communication networks and technologies facilitating real-time, two-way communication among diverse elements of the electrical grid, including utility providers, consumers, and distributed energy sources. The objective of smart grid communications is to enhance the efficiency, reliability, and resilience of the electrical grid through advanced monitoring, control, and optimization capabilities.

The primary types of smart grid communications include wired and wireless methods. Wired communications utilize physical cables or wires to transmit data or signals. They offer various solutions such as wide area networks (WAN), home area networks (HAN), and field area networks (FAN), catering to a range of applications including command and control, communications, computers, as well as surveillance and reconnaissance. Wired communication systems are employed by a diverse array of end-users including those in media and entertainment, banking, financial services, and insurance (BFSI), healthcare, transportation, the public sector, energy and utilities, among others.

The smart grid communications market research report is one of a series of new reports from The Business Research Company that provides smart grid communications market statistics, including smart grid communications industry global market size, regional shares, competitors with a smart grid communications market share, detailed smart grid communications market segments, market trends and opportunities, and any further data you may need to thrive in the smart grid communications industry. This smart grid communications market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The smart grid communications market size has grown rapidly in recent years. It will grow from $11.50 billion in 2023 to $12.73 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The expansion observed in the historical period can be attributed to several factors. These include advancements in telecommunications technology, a growing demand for energy efficiency measures, regulatory mandates and standards governing the energy sector, concerns regarding the increasing complexity and reliability of the grid, as well as technological innovations leading to cost reductions in smart grid implementations.

The smart grid communications market size is expected to see rapid growth in the next few years. It will grow to $19.21 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The anticipated growth in the forecast period can be attributed to several factors. These include the increasing integration of renewable energy sources into the grid, a growing emphasis on grid modernization initiatives aimed at enhancing efficiency and reliability, rising demand for real-time data analytics and grid optimization solutions, expanding deployment of electric vehicles and energy storage systems, as well as emerging cybersecurity threats necessitating robust communication infrastructure. Major trends expected in this period include the integration of 5G technology, the adoption of edge computing for faster data processing, the establishment of interoperability standards for seamless communication between grid components, increased utilization of artificial intelligence (AI) and machine learning for advanced analytics, and the implementation of enhanced cybersecurity measures to safeguard critical infrastructure.

The smart grid communications market is set to experience growth driven by the increasing demand for renewable energy. Renewable energy sources, such as sunlight, wind, water, and geothermal heat, offer sustainable alternatives to traditional fossil fuels, driven by factors such as growing public support, environmental concerns, and corporate sustainability objectives. Smart grid communications play a crucial role in efficiently integrating renewable energy systems into existing electricity grids, enhancing operations, improving grid resilience, and facilitating the transition to a more sustainable energy future. According to the Department of Energy Security and Net Zero in December 2023, renewable electricity generation witnessed a 6.8% increase in the 3rd quarter of 2023 compared to the corresponding period in 2022, underscoring the significance of renewable energy in propelling the smart grid communications market forward.

Major players in the smart grid communications market are concentrating on developing advanced products to cater to expanding industry requirements and bolster their revenues. Powerline communication devices, which utilize existing electrical wiring for data transmission, are among the innovative solutions being introduced. Qualcomm Technologies Inc. unveiled the QCA7006AQ in May 2022, a next-generation powerline communication device tailored for seamless integration with smart grid communications, particularly in electric vehicle (EV) charging stations. This device supports vehicle-to-grid (V2G) systems, optimizing charging schedules while minimizing peak-load power generation and delivery. The QCA7006AQ's capabilities facilitate efficient energy management, enabling customers to select optimal charging periods and draw energy from EVs as needed, aligning with the growing demand for EV charging and reducing peak load power requirements.

In May 2022, Trilliant Holdings Inc. forged a partnership with Samart Telcoms PLC to deploy Advanced Metering Infrastructure (AMI) for the Provincial Electricity Authority of Thailand (PEA). This collaboration aims to empower utilities and cities in managing electricity generation, distribution, customer satisfaction, and profitability through next-generation smart grid solutions. Samart Telcoms Group, a Thailand-based company specializing in smart grid communications and advanced ICT solutions, brings expertise in deploying cutting-edge technologies to enhance the capabilities of utilities and support sustainable energy initiatives.

Major companies operating in the smart grid communications market are Verizon Communications Inc., Siemens AG, General Electric Company, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Tantalus Systems Corp., Mitsubishi Electric Corporation, Schneider Electric SE, ABB Ltd., Fujitsu Ltd., Eaton Corporation PLC, TE Connectivity Ltd., Emerson Electric Co., Xylem Inc., Honeywell International Inc., Itron Inc., Landis+Gyr, QinetiQ Group PLC, S&C Electric Co., Trilliant Holdings Inc., Infrax Systems Inc., Cooper Electric, Tropos Networks, Silver Spring Networks

North America was the largest region in the smart grid communications market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart grid communications market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the smart grid communications market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The smart grid communications market includes revenues earned by entities by providing services such as data management and analytics, cybersecurity solutions, consulting, interoperability solutions and maintenance, and training. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Including: 1) By Type: Wired; Wireless
2) By Solution: Wide Area Network (WAN); Home Area Network (HAN); Field Area Network (FAN)
3) By Application: Command And Control; Communications; Computers; Surveillance And Reconnaissance
4) By End-User: Media And Entertainment; Banking, Financial Services, And Insurance (BFSI); Healthcare; Transportation; Public Sector; Energy And Utilities
Covering: Verizon Communications Inc.; Siemens AG; General Electric Company; International Business Machines Corporation; Cisco Systems Inc.

Product Code: r17439

1. Executive Summary

2. Smart Grid Communications Market Characteristics

3. Smart Grid Communications Market Trends And Strategies

4. Smart Grid Communications Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Smart Grid Communications Market Size and Growth

5.1. Global Smart Grid Communications Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Smart Grid Communications Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Smart Grid Communications Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Smart Grid Communications Market Segmentation

6.1. Global Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Wired
Wireless
6.2. Global Smart Grid Communications Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Wide Area Network (WAN)
Home Area Network (HAN)
Field Area Network (FAN)
6.3. Global Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Command And Control
Communications
Computers
Surveillance And Reconnaissance
6.4. Global Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Media And Entertainment
Banking, Financial Services, And Insurance (BFSI)
Healthcare
Transportation
Public Sector
Energy And Utilities
Other End Users

7. Smart Grid Communications Market Regional And Country Analysis

7.1. Global Smart Grid Communications Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Smart Grid Communications Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Smart Grid Communications Market

8.1. Asia-Pacific Smart Grid Communications Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Smart Grid Communications Market

9.1. China Smart Grid Communications Market Overview
9.2. China Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Smart Grid Communications Market

10.1. India Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Smart Grid Communications Market

11.1. Japan Smart Grid Communications Market Overview
11.2. Japan Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Smart Grid Communications Market

12.1. Australia Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Smart Grid Communications Market

13.1. Indonesia Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Smart Grid Communications Market

14.1. South Korea Smart Grid Communications Market Overview
14.2. South Korea Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Smart Grid Communications Market

15.1. Western Europe Smart Grid Communications Market Overview
15.2. Western Europe Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Smart Grid Communications Market

16.1. UK Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Smart Grid Communications Market

17.1. Germany Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Smart Grid Communications Market

18.1. France Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Smart Grid Communications Market

19.1. Italy Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Smart Grid Communications Market

20.1. Spain Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Smart Grid Communications Market

21.1. Eastern Europe Smart Grid Communications Market Overview
21.2. Eastern Europe Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Smart Grid Communications Market

22.1. Russia Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Smart Grid Communications Market

23.1. North America Smart Grid Communications Market Overview
23.2. North America Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Smart Grid Communications Market

24.1. USA Smart Grid Communications Market Overview
24.2. USA Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Smart Grid Communications Market

25.1. Canada Smart Grid Communications Market Overview
25.2. Canada Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Smart Grid Communications Market

26.1. South America Smart Grid Communications Market Overview
26.2. South America Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Smart Grid Communications Market

27.1. Brazil Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Smart Grid Communications Market

28.1. Middle East Smart Grid Communications Market Overview
28.2. Middle East Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Smart Grid Communications Market

29.1. Africa Smart Grid Communications Market Overview
29.2. Africa Smart Grid Communications Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Smart Grid Communications Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Smart Grid Communications Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Smart Grid Communications Market Competitive Landscape And Company Profiles

30.1. Smart Grid Communications Market Competitive Landscape
30.2. Smart Grid Communications Market Company Profiles
- 30.2.1. Verizon Communications Inc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Siemens AG
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. General Electric Company
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. International Business Machines Corporation
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Cisco Systems Inc.
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Smart Grid Communications Market Other Major And Innovative Companies

31.1. Oracle Corporation
31.2. Tantalus Systems Corp.
31.3. Mitsubishi Electric Corporation
31.4. Schneider Electric SE
31.5. ABB Ltd.
31.6. Fujitsu Ltd.
31.7. Eaton Corporation PLC
31.8. TE Connectivity Ltd.
31.9. Emerson Electric Co.
31.10. Xylem Inc.
31.11. Honeywell International Inc.
31.12. Itron Inc.
31.13. Landis+Gyr
31.14. QinetiQ Group PLC
31.15. S&C Electric Co.

32. Global Smart Grid Communications Market Competitive Benchmarking

33. Global Smart Grid Communications Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Smart Grid Communications Market

35. Smart Grid Communications Market Future Outlook and Potential Analysis

35.1 Smart Grid Communications Market In 2028 - Countries Offering Most New Opportunities
35.2 Smart Grid Communications Market In 2028 - Segments Offering Most New Opportunities
35.3 Smart Grid Communications Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer