Smart Grid Communications Market

Global Smart Grid Communications Market Size, Share & Trends Analysis Report, By Type (Wired and Wireless) By Application (Command & Control, Communications, Computers, Surveillance & Reconnaissance), By End-User (Media and Entertainment Sector, BFSI, Healthcare, Transportation, Energy and Utilities, Public Sector, and Others), Forecast (2021-2027)
    Update Available - Forecast 2024-2030   

Published: Jul 2023 | Report Code: OMR2024980 | Category : Communication and Connectivity Technology | Delivery Format: /

The global smart grid communications market is expected to grow at a significant CAGR during the forecast period (2021-2027).  Smart grid is a modern idea for ensuring grid quality and efficiency in electricity scheduling and dispatch. The term smart grid refers to an infrastructure that can be connected with the power grid through modern communications and automated control technology. Many developed countries have implemented smart grid technology to address the growing difficulties related to electrical distribution and transmission companies and distribution and transmission facilities. 

Smart grid technology improves the electrical system's efficiency, security, and dependability. Along with the smart grid network, efficient communication systems must be established to create and establish a smart grid system. Owing to the increased adoption of smart grid technologies over traditional equipment, both the smart grid communication and smart grid systems markets are likely to grow at the same time. As the bulk of smart grid tasks take place in real-time, communication networks are an essential part of any smart grid architecture.

The fact that every electrical utility setting on a smart grid system must be thoroughly assessed for communication to improve the smart grid's performance, which is a major driver for the global smart grid communications market. With the adoption of more complex technologies and their integration with the smart grid, a considerable volume of data is generated, which must be carefully examined to plan load scheduling for producing stations. As a result, an effective communication system is built that allows for the secure and cost-effective sharing of data throughout the power grid and data center, which is boosting the adoption of smart grid communication systems to store information in real-time. Many companies and organizations must upgrade their aging electrical infrastructure. Owing to the sluggish reaction time and high cost of replacing a smart grid communication system, businesses are hesitant to upgrade their existing electrical infrastructure that is hindering the demand for smart grid communication systems.

Market Coverage

  • The market number available for – 2020-2027
  • Base year- 2020
  • Forecast period- 2021-2027
  • Segment Covered- 

o By Type 

o By Application 

o By End-User 

  • Competitive Landscape: IBM Corp., ABB Ltd., Schneider Electric SE, Cisco Systems, Inc., and Itron Inc., among others. 

Global Smart Grid Communications    Market - Segmentation

By Type  

Wired  

Wireless

By Application 

Command & Control

Communications

Computers

Surveillance & Reconnaissance

By End-User 

Media and Entertainment 

BFSI

Healthcare 

Transportation

Public Sector

Energy and Utilities

Others

Global Smart Grid Communications    Market Segmentation by Region

North America

  • United States
  • Canada

Europe

  • UK
  • Germany
  • Italy
  • Spain
  • France
  • Rest of Europe 

Asia-Pacific

  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific 

Rest of the World