Smart Grid Market Revenue to Hit $161.5 Billion by 2029
The global Smart Grid Market in terms of revenue was estimated to be worth $73.8 billion in 2024 and is poised to reach $161.1 billion by 2029, growing at a CAGR of 16.9% from 2024 to 2029 according to a new report by MarketsandMarkets™.
The global demand for smart grid is increasing due to strong focus on modernization of aging grid infrastructure. Factors such as rapid industrialization, urbanization,...
With 16.9% CAGR, Smart Grid Market Growth to Surpass $161.5 Billion
The global Smart Grid Market in terms of revenue was estimated to be worth $73.8 billion in 2024 and is poised to reach $161.1 billion by 2029, growing at a CAGR of 16.9% from 2024 to 2029 according to a new report by MarketsandMarkets™.
The global demand for smart grid is increasing due to strong focus on modernization of aging grid infrastructure. Factors such as rapid industrialization,...
Smart Grid Market Size to Grow $185.0 Billion by 2029
The global Smart Grid Market in terms of revenue was estimated to be worth $71.8 billion in 2024 and is poised to reach $185.0 billion by 2029, growing at a CAGR of 20.8% from 2024 to 2029 according to a new report by MarketsandMarkets™.
The demand for smart grid is on the rise due to various factors. Expansion in industries like manufacturing, automotive, and construction contributes to increased...
Smart Grid Market Expected to Reach $103.4 Billion by 2026
The global Smart Grid Market size is projected to reach USD 103.4 billion by 2026 from USD 43.1 billion in 2021 at a CAGR of 19.1% during the forecast period. Smart grid technology enables the transition from a traditional energy distribution network to an intelligent electricity grid that allows two-way communication between the utility and its customers. The smart electric grid uses digital communication...
Smart Grid Market Size to Reach $103.4 Billion by 2026
The global smart grid market is expected to grow from an estimated USD 43.1 billion in 2021 to USD 103.4 billion by 2026, at a CAGR of 19.1% during the forecast period. The modernization of aging grid infrastructure is one of the primary factors driving the smart grid market growth. Moreover, the government across the world is encouraging investments in smart grids.
Smart grid technology...
Smart Grid Market to Show Robust Growth in Near Future
The global smart
grid market is expected to grow from an estimated USD 43.1 billion in 2021
to USD 103.4 billion by 2026, at a CAGR of 19.1% during the forecast period. Modernization
of aging grid infrastructure is one the primary factors driving market growth.
Moreover, the government across the world is encouraging the investments in
smart grids.
Smart grid technology enables the
transition from...
Smart Grid Market expected to Grow $103.4 Billion by 2026
According to the new market research report
“Smart
Grid Market by Component (Software, Hardware, Services), Application
(Generation, Transmission, Distribution, Consumption/End Use), Communication
Technology (Wireline, Wireless), and Region – Global Forecast to 2026″, published
by MarketsandMarkets™, the smart grid market size will grow to USD 103.4
billion by 2026 (forecast year)...
Impact of COVID 19 on Smart Grid Market
Post COVID-19, the report “COVID-19
Impact on Smart Grid Market by Component (Hardware, Software and
Services) and Region – Global Forecast to 2021″ size is estimated to
be USD 26.9 billion in 2020 and projected to reach USD 28.8 billion by 2021 at
a CAGR of 7.1% from 2020 to 2021. The
major factors driving the growth of the smart grid industry include
modernization of aging...
Smart Grid Market Provides Ongoing Smart Cities and Smart Meter roll-out Projects Globally
Smart grid integrates and coordinates the flow of energy from generation, distribution, and transmission for the ease of utilities. It optimizes the energy daily, and also has facilities for managing power during incidents, events, and outages.
Government policies and legislative mandates, and regional government initiatives for smart meter roll-outs under smart cities models are some of the driving...
Solid State (Smart) Transformer Market worth $ 5,043.39 Million by 2020
According to the market research report “Solid State (Smart) Transformer Market – Global Forecast & Analysis (2012 – 2020) By Application (Smart Grid, Traction Locomotives, Electric Vehicle Charging Stations, Others), Component (Switches, High frequency Transformers, Converters, Others) & Geography” published by MarketsandMarkets (www.marketsandmarkets.com), the total solid state...