The Smart Grid Technology Global Market Report 2023, provides comprehensive information on the smart grid technology market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Smart Grid Technology Global Market Report 2023, the market size is expected to grow from $39.38 billion in 2022 to $46.65 billion in 2023 at a compound annual growth rate (CAGR) of 18.46%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global smart grid technology market size is expected to reach $91.96 billion in 2027 at a CAGR of 18.49%.
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Technological advancements are a key trend gaining popularity in the smart grid technology market. Companies operating in the smart grid technology market are adopting new technologies to sustain their position in the market. For instance, in March 2023, International Energy Agency, a France-based autonomous intergovernmental organization launched grid Integration tool technology. This technology was created as an add-on to the guidebook for policymakers on grid integration of EVs to evaluate the effect of EV charging on the electricity system. Users of the program can enter characteristics such as an EV fleet, driving habits, charging chances, and the type of electricity used
The smart grid technology market is segmented:
1) By Component: Hardware, Software, Services
2) By Network Operation: Outage Management Systems, Demand Management Systems, Geographical Management Systems
3) By Technology: Wired, Wired-Less
4)By Application: Generation, Transmission, Distribution, Consumption
5) By End User: Residential, Commercial And Industrial, Government
North America was the largest region in the smart grid technology market in 2022.
The table of contents in TBRC’s smart grid technology market report includes:
1. Executive Summary
2. Smart Grid Technology Market Characteristics
3. Smart Grid Technology Market Trends And Strategies
4. Smart Grid Technology Market – Macro Economic Scenario
5. Smart Grid Technology Market Size And Growth
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26. Africa Smart Grid Technology Market
27. Smart Grid Technology Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Smart Grid Technology Market
29. Smart Grid Technology Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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