The North America Smart Grid Market would witness market growth of 16.8% CAGR during the forecast period (2022-2028).
Grid managers used to keep things in balance by controlling supply to match demand. Demand, however, is not merely something to meet in smart grids. It may also be a management issue. Demand Response is a technique that modifies customer energy use to assist in balancing grid frequency. It is a decentralised network of energy assets that acts as energy sources for smart grids to tap into, similar to a virtual power plant (VPP). Yet, it functions on the demand side as opposed to the supply side. Only the technology offered by smart grids makes it feasible for these cutting-edge kinds of energy delivery. Without them, there wouldn't have the modern, dependable, and adaptable energy networks. They enable customers to make better informed decisions about how they use electricity.
The relationship between consumer demand and the supply of renewable energy may be optimised via smart grids. Companies may also take use of energy storage's potential by ensuring that electricity is stored while it is accessible and reasonably priced, then released when demand increases. Even though this power system is still far off, smart grid technology will aid in its development by giving important information into the energy markets. It will take time for existing electrical systems to give way to smart grids.
With almost 9,200 electric producing units and 600,000 miles of transmission lines, the U.S. electric grid is an engineering wonder. To provide dependable, secure, and clean energy, the Office of Electricity (OE) is strengthening, transforming, and improving energy infrastructure with public and commercial partners.
Modernizing the grid to make it "smarter" and more robust by using cutting-edge technology, equipment, and controls that communicate and work together to supply energy more reliably and effectively will dramatically minimise power outages, storm effects, and restoration time. Data access helps consumers control energy use and expenses. Modern grids enhance security, peak loads, renewable integration, and operating costs for utilities. Hence, government modernizations drive North America Smart Grid Sensors market growth.
The US market dominated the North America Smart Grid Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $31,846.7 million by 2028. The Canada market is showcasing a CAGR of 19.5% during (2022 - 2028). Additionally, The Mexico market would register a CAGR of 18.4% during (2022 - 2028).
Based on Component, the market is segmented into Solution (Smart Grid Distribution Management, Substation Automation, Smart Grid Network Management, Smart Grid Metering Infrastructure, Smart Grid Security, Smart Grid Communications, and Others) and Services. Based on End User, the market is segmented into Commercial, Industrial, and Residential. Based on Application, the market is segmented into Distribution, Transmission, Consumption, and Generation. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Smart Grid Market is Estimated to reach $130.2 Billion by 2028, at a CAGR of 17.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric Company (GE Grid Solutions), Schneider Electric SE, Cisco Systems, Inc., IBM Corporation, Siemens AG, Wipro Limited, Honeywell International, Inc., Oracle Corporation, ABB Group, and Itron, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Solution
- Smart Grid Distribution Management
- Substation Automation
- Smart Grid Network Management
- Smart Grid Metering Infrastructure
- Smart Grid Security
- Smart Grid Communications
- Others
- Services
By End User
- Commercial
- Industrial
- Residential
By Application
- Distribution
- Transmission
- Consumption
- Generation
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- General Electric Company (GE Grid Solutions)
- Schneider Electric SE
- Cisco Systems, Inc.
- IBM Corporation
- Siemens AG
- Wipro Limited
- Honeywell International, Inc.
- Oracle Corporation
- ABB Group
- Itron, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Smart Grid Market, by Component
1.4.2 North America Smart Grid Market, by End User
1.4.3 North America Smart Grid Market, by Application
1.4.4 North America Smart Grid Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.3 Market Share Analysis, 2021
3.4 Top Winning Strategies
3.4.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.4.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2018, Sep – 2023, Feb) Leading Players
Chapter 4. North America Smart Grid Market by Component
4.1 North America Solution Market by Country
4.2 North America Smart Grid Market by Solution Type
4.2.1 North America Smart Grid Distribution Management Market by Country
4.2.2 North America Substation Automation Market by Country
4.2.3 North America Smart Grid Network Management Market by Country
4.2.4 North America Smart Grid Metering Infrastructure Market by Country
4.2.5 North America Smart Grid Security Market by Country
4.2.6 North America Smart Grid Communications Market by Country
4.2.7 North America Others Market by Country
4.3 North America Services Market by Country
Chapter 5. North America Smart Grid Market by End User
5.1 North America Commercial Market by Country
5.2 North America Industrial Market by Country
5.3 North America Residential Market by Country
Chapter 6. North America Smart Grid Market by Application
6.1 North America Distribution Market by Country
6.2 North America Transmission Market by Country
6.3 North America Consumption Market by Country
6.4 North America Generation Market by Country
Chapter 7. North America Smart Grid Market by Country
7.1 US Smart Grid Market
7.1.1 US Smart Grid Market by Component
7.1.1.1 US Smart Grid Market by Solution Type
7.1.2 US Smart Grid Market by End User
7.1.3 US Smart Grid Market by Application
7.2 Canada Smart Grid Market
7.2.1 Canada Smart Grid Market by Component
7.2.1.1 Canada Smart Grid Market by Solution Type
7.2.2 Canada Smart Grid Market by End User
7.2.3 Canada Smart Grid Market by Application
7.3 Mexico Smart Grid Market
7.3.1 Mexico Smart Grid Market by Component
7.3.1.1 Mexico Smart Grid Market by Solution Type
7.3.2 Mexico Smart Grid Market by End User
7.3.3 Mexico Smart Grid Market by Application
7.4 Rest of North America Smart Grid Market
7.4.1 Rest of North America Smart Grid Market by Component
7.4.1.1 Rest of North America Smart Grid Market by Solution Type
7.4.2 Rest of North America Smart Grid Market by End User
7.4.3 Rest of North America Smart Grid Market by Application
Chapter 8. Company Profiles
8.1 General Electric Company (GE Grid Solutions)
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 Recent strategies and developments:
8.1.5.1 Partnerships, Collaborations, and Agreements:
8.1.5.2 Product Launches and Product Expansions:
8.1.6 SWOT Analysis
8.2 Schneider Electric SE
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expense
8.2.5 Recent strategies and developments:
8.2.5.1 Partnerships, Collaborations, and Agreements:
8.2.5.2 Product Launches and Product Expansions:
8.2.6 SWOT Analysis
8.3 Cisco Systems, Inc.
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Partnerships, Collaborations, and Agreements:
8.3.6 SWOT Analysis
8.4 IBM Corporation
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Regional & Segmental Analysis
8.4.4 Research & Development Expenses
8.4.5 SWOT Analysis
8.5 Siemens AG
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expense
8.5.5 Recent strategies and developments:
8.5.5.1 Partnerships, Collaborations, and Agreements:
8.5.6 SWOT Analysis
8.6 Wipro Limited
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expenses
8.6.5 SWOT Analysis
8.7 Honeywell International, Inc.
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research & Development Expenses
8.7.5 SWOT Analysis
8.8 Oracle Corporation
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Research & Development Expense
8.8.5 SWOT Analysis
8.9 ABB Group
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Segmental and Regional Analysis
8.9.4 Research & Development Expense
8.9.5 SWOT Analysis
8.10. Itron, Inc.
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Research & Development Expense
8.10.5 Recent strategies and developments:
8.10.5.1 Partnerships, Collaborations, and Agreements:
TABLE 1 North America Smart Grid Market, 2018 - 2021, USD Million
TABLE 2 North America Smart Grid Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Smart Grid Market
TABLE 4 Product Launches And Product Expansions– Smart Grid Market
TABLE 5 North America Smart Grid Market by Component, 2018 - 2021, USD Million
TABLE 6 North America Smart Grid Market by Component, 2022 - 2028, USD Million
TABLE 7 North America Solution Market by Country, 2018 - 2021, USD Million
TABLE 8 North America Solution Market by Country, 2022 - 2028, USD Million
TABLE 9 North America Smart Grid Market by Solution Type, 2018 - 2021, USD Million
TABLE 10 North America Smart Grid Market by Solution Type, 2022 - 2028, USD Million
TABLE 11 North America Smart Grid Distribution Management Market by Country, 2018 - 2021, USD Million
TABLE 12 North America Smart Grid Distribution Management Market by Country, 2022 - 2028, USD Million
TABLE 13 North America Substation AutomationMarket by Country, 2018 - 2021, USD Million
TABLE 14 North America Substation AutomationMarket by Country, 2022 - 2028, USD Million
TABLE 15 North America Smart Grid Network Management Market by Country, 2018 - 2021, USD Million
TABLE 16 North America Smart Grid Network Management Market by Country, 2022 - 2028, USD Million
TABLE 17 North America Smart Grid Metering Infrastructure Market by Country, 2018 - 2021, USD Million
TABLE 18 North America Smart Grid Metering Infrastructure Market by Country, 2022 - 2028, USD Million
TABLE 19 North America Smart Grid Security Market by Country, 2018 - 2021, USD Million
TABLE 20 North America Smart Grid Security Market by Country, 2022 - 2028, USD Million
TABLE 21 North America Smart Grid Communications Market by Country, 2018 - 2021, USD Million
TABLE 22 North America Smart Grid Communications Market by Country, 2022 - 2028, USD Million
TABLE 23 North America Others Market by Country, 2018 - 2021, USD Million
TABLE 24 North America Others Market by Country, 2022 - 2028, USD Million
TABLE 25 North America Services Market by Country, 2018 - 2021, USD Million
TABLE 26 North America Services Market by Country, 2022 - 2028, USD Million
TABLE 27 North America Smart Grid Market by End User, 2018 - 2021, USD Million
TABLE 28 North America Smart Grid Market by End User, 2022 - 2028, USD Million
TABLE 29 North America Commercial Market by Country, 2018 - 2021, USD Million
TABLE 30 North America Commercial Market by Country, 2022 - 2028, USD Million
TABLE 31 North America Industrial Market by Country, 2018 - 2021, USD Million
TABLE 32 North America Industrial Market by Country, 2022 - 2028, USD Million
TABLE 33 North America Residential Market by Country, 2018 - 2021, USD Million
TABLE 34 North America Residential Market by Country, 2022 - 2028, USD Million
TABLE 35 North America Smart Grid Market by Application, 2018 - 2021, USD Million
TABLE 36 North America Smart Grid Market by Application, 2022 - 2028, USD Million
TABLE 37 North America Distribution Market by Country, 2018 - 2021, USD Million
TABLE 38 North America Distribution Market by Country, 2022 - 2028, USD Million
TABLE 39 North America Transmission Market by Country, 2018 - 2021, USD Million
TABLE 40 North America Transmission Market by Country, 2022 - 2028, USD Million
TABLE 41 North America Consumption Market by Country, 2018 - 2021, USD Million
TABLE 42 North America Consumption Market by Country, 2022 - 2028, USD Million
TABLE 43 North America Generation Market by Country, 2018 - 2021, USD Million
TABLE 44 North America Generation Market by Country, 2022 - 2028, USD Million
TABLE 45 North America Smart Grid Market by Country, 2018 - 2021, USD Million
TABLE 46 North America Smart Grid Market by Country, 2022 - 2028, USD Million
TABLE 47 US Smart Grid Market, 2018 - 2021, USD Million
TABLE 48 US Smart Grid Market, 2022 - 2028, USD Million
TABLE 49 US Smart Grid Market by Component, 2018 - 2021, USD Million
TABLE 50 US Smart Grid Market by Component, 2022 - 2028, USD Million
TABLE 51 US Smart Grid Market by Solution Type, 2018 - 2021, USD Million
TABLE 52 US Smart Grid Market by Solution Type, 2022 - 2028, USD Million
TABLE 53 US Smart Grid Market by End User, 2018 - 2021, USD Million
TABLE 54 US Smart Grid Market by End User, 2022 - 2028, USD Million
TABLE 55 US Smart Grid Market by Application, 2018 - 2021, USD Million
TABLE 56 US Smart Grid Market by Application, 2022 - 2028, USD Million
TABLE 57 Canada Smart Grid Market, 2018 - 2021, USD Million
TABLE 58 Canada Smart Grid Market, 2022 - 2028, USD Million
TABLE 59 Canada Smart Grid Market by Component, 2018 - 2021, USD Million
TABLE 60 Canada Smart Grid Market by Component, 2022 - 2028, USD Million
TABLE 61 Canada Smart Grid Market by Solution Type, 2018 - 2021, USD Million
TABLE 62 Canada Smart Grid Market by Solution Type, 2022 - 2028, USD Million
TABLE 63 Canada Smart Grid Market by End User, 2018 - 2021, USD Million
TABLE 64 Canada Smart Grid Market by End User, 2022 - 2028, USD Million
TABLE 65 Canada Smart Grid Market by Application, 2018 - 2021, USD Million
TABLE 66 Canada Smart Grid Market by Application, 2022 - 2028, USD Million
TABLE 67 Mexico Smart Grid Market, 2018 - 2021, USD Million
TABLE 68 Mexico Smart Grid Market, 2022 - 2028, USD Million
TABLE 69 Mexico Smart Grid Market by Component, 2018 - 2021, USD Million
TABLE 70 Mexico Smart Grid Market by Component, 2022 - 2028, USD Million
TABLE 71 Mexico Smart Grid Market by Solution Type, 2018 - 2021, USD Million
TABLE 72 Mexico Smart Grid Market by Solution Type, 2022 - 2028, USD Million
TABLE 73 Mexico Smart Grid Market by End User, 2018 - 2021, USD Million
TABLE 74 Mexico Smart Grid Market by End User, 2022 - 2028, USD Million
TABLE 75 Mexico Smart Grid Market by Application, 2018 - 2021, USD Million
TABLE 76 Mexico Smart Grid Market by Application, 2022 - 2028, USD Million
TABLE 77 Rest of North America Smart Grid Market, 2018 - 2021, USD Million
TABLE 78 Rest of North America Smart Grid Market, 2022 - 2028, USD Million
TABLE 79 Rest of North America Smart Grid Market by Component, 2018 - 2021, USD Million
TABLE 80 Rest of North America Smart Grid Market by Component, 2022 - 2028, USD Million
TABLE 81 Rest of North America Smart Grid Market by Solution Type, 2018 - 2021, USD Million
TABLE 82 Rest of North America Smart Grid Market by Solution Type, 2022 - 2028, USD Million
TABLE 83 Rest of North America Smart Grid Market by End User, 2018 - 2021, USD Million
TABLE 84 Rest of North America Smart Grid Market by End User, 2022 - 2028, USD Million
TABLE 85 Rest of North America Smart Grid Market by Application, 2018 - 2021, USD Million
TABLE 86 Rest of North America Smart Grid Market by Application, 2022 - 2028, USD Million
TABLE 87 KEY INFORMATION – GENERAL ELECTRIC Company
TABLE 88 Key information – Schneider Electric SE
TABLE 89 Key Information – Cisco Systems, Inc.
TABLE 90 Key information – IBM Corporation
TABLE 91 Key Information – Siemens AG
TABLE 92 Key Information – Wipro Limited
TABLE 93 Key Information – Honeywell International, Inc.
TABLE 94 Key Information – Oracle Corporation
TABLE 95 Key Information – ABB Group
TABLE 96 Key Information – Itron, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Market Share Analysis, 2021
FIG 4 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 5 Key Strategic Move: (Partnerships, Collaborations & Agreements : 2018, Sep – 2023, Feb) Leading Players
FIG 6 Recent strategies and developments: General Electric Company
FIG 7 Swot analysis: General electric (GE) Co.
FIG 8 Recent strategies and developments: Schneider Electric SE
FIG 9 Swot analysis: Schneider Electric SE
FIG 10 SWOT Analysis: Cisco Systems, Inc.
FIG 11 Swot analysis: IBM Corporation
FIG 12 Swot analysis: Siemens AG
FIG 13 SWOT Analysis: Wipro Limited
FIG 14 Swot analysis: Honeywell international, inc.
FIG 15 SWOT analysis: Oracle Corporation
FIG 16 SWOT Analysis: ABB Group