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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
How big is the smart grid market?
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.
What is the projected value of the distribution and network automation technologies segment by 2034?
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.
What is the expected growth rate for deployment and integration services in the smart grid market?
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.
How significant is the U.S. smart grid market projected to be by 2034?
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.
Who are the major players in the smart grid industry?
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.