North America Smart Grid Market Size - By Technology, By Service (Consulting, Deployment & Integration, Support & Maintenance), By Deployment (Generation, Transmission, Distribution, End Use) & Forecast, 2024 – 2032

North America Smart Grid Market Size

North America Smart Grid Market size was valued at USD 15.4 billion in 2023 and is projected to grow at a CAGR of 10% between 2024 and 2032, propelled by increasing demand for efficient energy management, spurred by environmental concerns and government regulations. Technological advancements in smart metering, distribution automation, and grid optimization contribute to market growth by enhancing operational efficiency and reliability.
 

For instance, in December 2019, Siemens introduced a new range of smart meters with extensive features including high safety, long-term quality, and easy installation. Additionally, growing investments in renewable energy integration further propel the adoption of smart grid solutions across the region.

North America Smart Grid Market Trends

North America smart grid industry growth is fuelled by various factors including the increasing integration of renewable energy sources, advancements in grid digitization and automation, and the adoption of advanced metering infrastructure for improved energy management. As per Department of Energy, in 2022, renewable energy generation in the U.S. exceeded coal for the first time ever. By 2025, solar energy generation is projected to rise by 75%, while wind energy is expected to increase by 11%.
 

Additionally, there's a growing emphasis on grid resilience and cybersecurity measures to mitigate potential risks. The market is also witnessing greater collaboration between utilities and technology providers to develop innovative solutions that enhance grid reliability and efficiency while accommodating evolving consumer needs and regulatory requirements.
 

North America Smart Grid Market Analysis

The market is segmented in smart T&D equipment, distribution & network automation, advanced metering infrastructure, consumer interface, and communication & wireless infrastructure. The distribution and network automation segment is poised to exceed USD 12 billion by 2032. Advancements in technology, such as IoT integration and predictive analytics, are driving efficiency improvements and reliability enhancements across the grid infrastructure. Regulatory support and increasing investments in grid modernization initiatives further propel this growth trajectory, fostering smarter, more resilient energy distribution networks to meet evolving demands and sustainability goals.
 

North America smart grid market from deployment & integration services segment is anticipated to expand at 9.5% CAGR through 2032. As utilities seek to optimize grid operations and enhance reliability, there's a growing demand for expert deployment and integration solutions. These services encompass the installation, configuration, and seamless integration of smart grid technologies, including advanced metering infrastructure (AMI), grid sensors, and software platforms. With a focus on efficiency gains and grid modernization initiatives, utilities are increasingly relying on specialized service providers to ensure the successful implementation and integration of these sophisticated systems, driving notable growth in the market.
 

U.S. smart grid market is predicted to surpass USD 28.5 billion by 2032, fuelled by increasing adoption of advanced technologies to modernize aging infrastructure. Smart meters, grid optimization software, and IoT-enabled devices are revolutionizing grid management, enhancing efficiency, and enabling real-time monitoring and control.
 

As per Energy Information Administration, in 2022, approximately 119 million advanced metering infrastructure (AMI) installations were recorded among U.S. electric utilities, constituting approximately 72% of total electric meter installations. With utilities prioritizing grid resilience and customer engagement, investments in smart grid solutions continue to surge, positioning the U.S. as a key market for innovation and growth in the energy sector.
 

North America Smart Grid Market Share

General Electric (GE) commands a significant stake in the North American smart grid sector, leveraging its advanced technologies and comprehensive solutions. With a diverse portfolio spanning grid management systems, renewable energy integration, and efficient power distribution, GE stands as a frontrunner in modernizing energy infrastructure. Its innovative products, including smart meters and grid optimization software, enable utilities to enhance reliability and sustainability while meeting evolving consumer demands. Through strategic partnerships and continual innovation, GE maintains its stronghold, driving the transformation of North America's energy landscape towards a smarter, more resilient future.
 

North America Smart Grid Market Companies

Some of the key market players operating across the North America smart grid industry are:

• ABB
• Belden Inc.
• Cisco Systems, Inc.
• Eaton
• Fujitsu
• General Electric
• Hubbell
• Honeywell International Inc.
• Itron Inc.
• IBM
• Landis+Gyr
• Oracle
• Schneider Electric
• S&C Electric Company
• Siemens
• Sunverge Energy Inc.
• Uplight, Inc.
• Wipro
   

North America Smart Grid Market Industry News

• In January 2021, Schneider Electric and WMUA embarked on New Jersey's first Energy Savings Improvement Program (ESIP). Integrating 13,000 advanced metering infrastructure water meters, the initiative enhances WMUA's water, sanitation facilities, and community operations. Further, upgrades to factory processes, pollution control systems like the Combined Heat and Power (CHP) plant, and traditional infrastructure improvements promise to improve residents' lives while saving energy for the community.
   
• In December 2019, Siemens launched a line of smart meters boasting advanced features like enhanced safety, durable quality, and simple installation. These meters come in two variants: one featuring the SITRANS F M TRANSMAG 2 transmitter and the other with SITRANS F M 911/E sensors. Widely adopted in industrial and commercial settings, this technology offers comprehensive solutions.
   

The North America smart grid market research report includes an in–depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2019 to 2032, for the following segments:

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Market, By Technology

• Smart T&D equipment
• Distribution & network automation
• Advanced metering infrastructure
• Consumer interface
• Communication & wireless infrastructure

Market, By Service

• Consulting
• Deployment & integration
• Support & maintenance

Market, By Deployment

• Generation
• Transmission
• Distribution
• End use

The above information has been provided for the following countries:

• U.S.
• Canada
• Mexico