Get a free sample of Smart Grid Market
Thank you!
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
Get a free sample of Smart Grid Market
Thank you!
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
Smart Grid Market Size
The global smart grid market was valued at USD 66.1 billion in 2024 and is estimated to grow at a CAGR of 10.6% from 2025 to 2034, due to demands for energy efficiency, grid reliability, and sustainability. Government investments in grid modernization support renewable energy integration and enhance energy security. Advanced technologies like IoT, AI, and big data analytics improve grid management. The growing adoption of electric vehicles and decentralized energy generation necessitates smart grids for complex energy flow management.
In Asia, Berg Insight’s reported that over 570 million smart meter units will be deployed across Asia between 2021 and 2025, which complements the market growth across the region. Consumer interest in energy management tools further drives market growth.
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.