Smart Grid Networking Market Growth, Size, Share, Trends, and Forecast 2032

According to the report published by Zion Market Research, the global Smart Grid Networking Market size was valued at USD 16.47 Billion in 2023 and is predicted to reach USD 38.83 Billion by the end of 2032. The market is expected to grow with a CAGR of 10.00% during the forecast period. The report analyzes the global Smart Grid Networking Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Smart Grid Networking Market industry.

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Global Smart Grid Networking Market: Overview

Smart grid networking offers a 2-way communications between various elements of a utility grid allowing quality network management by communications between the network elements to offer information from the various stages such as transmission, generation, and distribution.

Global Smart Grid Networking Market: Growth Factors

The global smart grid networking market is likely to have a huge escalation in coming period. The rise in smart grid deployments is the main reason that has driven the growth of the global market. In addition to this, push for interoperability and standardization is powering the growth of the global market. Besides this, change out of legacy telephone company connections is also fueling the growth of global smart grid networking market. Moreover, the IEC 61850 rule is eventually replacing distributed network protocol (DNP3) for substation communications.

This plays a vital role in the elevation of the global market. Additionally, growing awareness among consumers about the advantages of smart grid networking is one of the main factors powering the growth of the global smart grid networking market. Further, unique communications standards being used in a variety of ways in smart grid is also driving the global smart grid networking market growth. In addition to this, dependability upon public cellular networks for grid communications is also powering the growth of the global market.

On the contrary, lack of better energy management is hampering the growth of global smart grid networking market. Moreover, increased fragmentation of market plays a vital role in the decrement of the global market. Further, the high cost of ownership of smart grid networks is one of the main reasons hindering the growth of the global smart grid networking market.

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Global Smart Grid Networking Market: Segmentation

The global Smart Grid Networking Market can be segmented based on hardware, software and service.

On the basis hardware, the global smart grid networking market is mainly classified as controllers, cables, smart meter communication modules, routers, switches, and other hardware.

Based on software, the global market is bifurcated into IP address management, network performance monitoring management, network device management, network traffic management, network security management, network configuration management, and other software.

On the basis of service, the global market for smart grid networking is divided into network planning, consulting, network risk and security assessment, design and integration, support services, network maintenance and other services.

Smart Grid Networking Market : Report Scope

Global Smart Grid Networking Market: Regional Analysis

Regionally, the global market for smart grid networking is bifurcated into North America, Middle East and Africa, Asia-Pacific, and Europe. The rise in smart grid deployments is boosting the global market in North America. Push for interoperability and standardization has elevated the global market in the Asia Pacific countries such as India, China, and Japan. Additionally, change out of legacy telephone company connections is escalating the global market in European countries such as the U.K., France, and Germany.

Global Smart Grid Networking Market: Competitive Players

Some of the key players in the global market for smart grid networking are:

• Cisco
• ABB
• Fujitsu
• Mitsubishi Electric
• Huawei
• GE
• Siemens AG
• Schneider Electric.

The Global Smart Grid Networking Market is segmented as follows:

By Hardware 

• controllers 
• cables 
• smart meter communication modules 
• routers 
• switches 
• and other hardware 

By Software 

• IP address management 
• network performance monitoring management
• network device management 
• network traffic management 
• network security management 
• network configuration management 
• and other software 

By Service 

• network planning 
• consulting 
• network risk and security assessment
• design and integration 
• support services 
• network maintenance 
• and other services 

Global Smart Grid Networking Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

What Report Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.