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Smart Grid Market Share

Report ID: GMI1365
Published Date: Dec 2024
Report Format: PDF

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Smart Grid Market Share

ABB holds a significant share in the smart grid industry, leveraging its advanced technologies to enhance energy efficiency, grid reliability, and sustainability. The company's offerings include digital substations, grid automation, and energy management solutions, enabling utilities to optimize grid operations. ABB's innovative smart grid solutions are key drivers of modernizing power infrastructure globally, positioning the company as a market leader.

Smart Grid Market Companies

Major players operating in the smart grid industry are:

ABB
Belden
Cisco Systems
Fujitsu
General Electric
Honeywell International
Hubbell
IBM
Itron
Landis+Gyr
Oracle
Schneider Electric
Siemens
Wipro

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The global market for smart grid was reached USD 66.1 billion in 2024 and is estimated to grow at a 10.6% CAGR from 2025 to 2034, driven by demands for energy efficiency, grid reliability, and sustainability.

The distribution and network automation technologies segment is forecasted to surpass USD 50 billion by 2034, driven by the demand for reliable and efficient energy systems and advancements in IoT and AI technologies.

The deployment and integration services segment in the smart grid market is poised to witness a CAGR of over 10% through 2034, fueled by the increasing adoption of smart technologies and the need for seamless system integration.

The U.S. smart grid market is likely to exceed USD 34 billion by 2034, led by increasing demand for efficient energy management and infrastructure modernization.

Key players in the smart grid industry include ABB, Belden, Cisco Systems, Fujitsu, General Electric, Honeywell International, Hubbell, IBM, Itron, Landis+Gyr, Oracle, Schneider Electric, Siemens, and Wipro.