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What are the latest figures on the smart grid communication node market’s size and projected CAGR?
The smart grid communication node market size has grown rapidly in recent years. It will grow from $62.34 billion in 2024 to $74.52 billion in 2025 at a compound annual growth rate (CAGR) of 19.5%. The growth in the historic period can be attributed to rising investments in smart grids, rise in smart grid deployments, adoption of smart technology in power grid infrastructure, growing electric vehicle (EV) integration, and growing demand for metering solutions.
The smart grid communication node market size is expected to see rapid growth in the next few years. It will grow to $150.35 billion in 2029 at a compound annual growth rate (CAGR) of 19.2%. The growth in the forecast period can be attributed to increasing demand for energy efficiency and sustainability, increasing demand for advanced infrastructure, rise in renewable energy, growing awareness regarding the benefits of smart grids, and increasing trend of digitalization. Major trends in the forecast period include innovative technologies, advancements in communication technology, technological advancements in the communication technologies, development of microgrids for localized energy distribution, and advancements in information and communication technology (ICT).
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Which Market drivers have played a significant role in driving the smart grid communication node market?
The rise in demand for renewable energy is expected to propel the growth of the smart grid communication node market going forward. Renewable energy is energy derived from naturally replenishing sources such as sunlight, wind, water, and biomass, which are sustainable and have minimal environmental impact. The demand for renewable energy is due to increasing environmental concerns, declining technology costs, government incentives, and the global push for energy security and sustainability. A smart grid communication node enables real-time data exchange between distributed energy sources, grid operators, and energy storage systems, ensuring efficient integration of variable power sources such as solar and wind. It enhances grid stability, optimizes power flow, and supports demand response by enabling two-way communication, remote monitoring, and automation of renewable energy assets. For instance, in March 2023, according to the Energy Information Administration (EIA), a US-based government agency, the combined share of wind and solar energy in total electricity generation increased from 12% in 2021 to 14% in 2022. California led the nation in utility-scale solar generation in 2022, accounting for 26% of the total U.S. output. Texas ranked second with 16%, followed by North Carolina, which contributed 8%. Therefore, the rise in the demand for renewable energy is fueling the expansion of the smart grid communication node market.
What are the key segments within the smart grid communication node market?
The smart grid communication node market covered in this report is segmented –
1) By Type: Wired, Wireless Communication Systems
2) By Application: Command And Control, Communications, Computers, Surveillance
3) By End-User: Residential, Commercial, Industrial, Government
Subsegments:
1) By Wired: Power Line Communication (PLC), Fiber Optic Communication, Coaxial Cable Communication
2) By Wireless Communication Systems: Cellular Networks, Wi-Fi, Zigbee, LoRaWAN, Satellite Communication
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Which key players are shaping the smart grid communication node market?
Major companies operating in the smart grid communication node market are Huawei Technologies, Siemens AG, Cisco Systems Inc., Mitsubishi Electric Corp., Schneider Electric, Honeywell International, GE Vernova, ABB Ltd., Toshiba Corporation, Nokia Networks, Fujitsu Ltd., Hitachi Energy Ltd., Eaton Corporation, Rockwell Automation, Hubbell Inc., Landis+Gyr, Itron Inc., L&T Technology Services, S&C Electric Company, Sierra Wireless
Which transformative trends will shape the smart grid communication node market landscape?
Major companies operating in the smart grid communication node market are focusing on developing technologically advanced products, such as power distribution communication networks, to enhance grid reliability and enable real-time monitoring and automation. Power distribution communication networks are integrated systems that enable real-time data exchange between substations, smart meters, grid control centers, and distributed energy resources to enhance grid reliability, efficiency, and automation. For instance, in July 2023, Huawei Technologies Co. Ltd., a China-based provider of information and communications technology (ICT) infrastructure and smart devices, launched an intelligent power distribution communication network solution based on industrial switches and routers. A unique feature of the solution is its flexible networking capability, which supports various power distribution architectures like tree and ring structures. It integrates industrial switches, xTUs, and optical modules to create an all-optical Ethernet network using fiber connections. In areas without fiber infrastructure but with wireless network coverage, 4G/5G industrial routers enable seamless connectivity. Additionally, in high-density regions such as factories and urban areas, the solution ensures enhanced reliability by leveraging optical fiber and wireless communication as backup systems, improving network stability and power supply quality.
How do regional factors impact the smart grid communication node market, and which region is the largest contributor?
North America was the largest region in the smart grid communication node market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart grid communication node market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Smart Grid Communication Node Market Report 2025 Offer?
The smart grid communication node market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
A smart grid communication node is a key component in modern electrical grids that facilitates the seamless data exchange between various grid elements, including smart meters, sensors, substations, and control centers. It enables real-time monitoring, automation, and energy distribution optimization by supporting multiple communication protocols. These nodes enhance grid reliability, efficiency, and security by allowing two-way communication, fault detection, load balancing, and remote control of grid assets, making them essential for developing intelligent and resilient power systems.
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