Smart Grid Market set to rise $223.4 billion by 2030, as Rise of Microgrid Systems hits transformation ground


Posted February 7, 2025 by datastring

Smart Grid is expected to rise to $223.4 billion by 2030 from $66.1 billion of 2023. The revenue growth of industry players is estimated to average at 19.0% annually for period 2023 to 2030.
 
Research Study analyse the new revenue pockets, emerging markets, competition landscape, opportunities & niche insights for Technology Component (Advanced Metering Infrastructure, Smart Sensors, Distribution Management Systems, Communication Networks), Application (Residential, Commercial, Industrial, Utility) and End-Use (Energy Providers, Industrial Facilities, Residential Complexes, Government Initiatives).

Access the detailed report here - ๐ก๐ญ๐ญ๐ฉ๐ฌ://๐๐š๐ญ๐š๐ฌ๐ญ๐ซ๐ข๐ง๐ ๐œ๐จ๐ง๐ฌ๐ฎ๐ฅ๐ญ๐ข๐ง๐ .๐œ๐จ๐ฆ/๐ข๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ-๐š๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ/๐ฌ๐ฆ๐š๐ซ๐ญ-๐ ๐ซ๐ข๐-๐ฆ๐š๐ซ๐ค๐ž๐ญ-๐ซ๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก-๐ซ๐ž๐ฉ๐จ๐ซ๐ญ

๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ

North America and Europe are the two most active and leading regions in the market. In Europes smart grid industry flourishes due to proactive energy strategies and investments in renewable energy integration with leading companies, like Siemens and ABB emphasizing grid flexibility and reliability enhancements.

With challenges like high initial investment, cybersecurity concerns and technical complexity in integration, Smart Grid marketโ€™s supply chain from smart meter manufacturer to end user is expected to evolve & expand further; and industry players will make strategic advancement in emerging markets including India, Brazil and South Africa for revenue diversification and TAM expansion. Localized power solutions, like microgrids are gaining popularity in remote or essential locations.

๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐‹๐ž๐š๐๐ž๐ซ๐ฌ๐ก๐ข๐ฉ ๐š๐ง๐ ๐’๐ญ๐ซ๐š๐ญ๐ž๐ ๐ข๐ž๐ฌ

The Smart Grid market is characterized by intense competition, with a number of leading players such as Itron, Honeywell, ABB, Schneider Electric, Siemens, GE Grid Solutions, Cisco, Nokia, Eaton, Landis+Gyr, Hitachi Energy and Mitsubishi Electric. These players are pushing & penetrating the market with their strategies.

๐€๐›๐จ๐ฎ๐ญ ๐ƒ๐š๐ญ๐š๐’๐ญ๐ซ๐ข๐ง๐  ๐‚๐จ๐ง๐ฌ๐ฎ๐ฅ๐ญ๐ข๐ง๐ 

DataString Consulting assist companies in strategy formulations & roadmap creation including TAM expansion, revenue diversification strategies and venturing into new markets; by offering in depth insights into developing trends and competitor landscapes as well as customer demographics. Our customized & direct strategies, filters industry noises into new opportunities; and reduces the effective connect time between products and its market niche.

DataString Consulting offers complete range of market research and business intelligence solutions for both B2C and B2B markets all under one roof. DataStringโ€™s leadership team has more than 30 years of combined experience in Market & business research and strategy advisory across the world. Our Industry experts and data aggregators continuously track & monitor high growth segments within more than 15 industries and 60 sub-industries.
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Last Updated February 7, 2025