MarketsandMarkets Blog

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,...

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...

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...

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...

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)...