Smart Grid Networking Market is predicted to reach USD 37.76 Billion at a CAGR of 10.32% during the forecast period 2024-2032

Market Research Future (MRFR) has published a cooked research report on the “Global Smart Grid Networking Market” that contains information from 2024 to 2032. The Smart Grid Networking market is estimated to register a CAGR of 10.32% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global Smart Grid Networking market— ABB Group (Switzerland), Cisco Systems, Inc. (U.S.), Mitsubishi Electric (Japan), Fujitsu (Japan), General Electric Company (U.S.), Huawei Technologies Co. Ltd. (China), Itron (U.S.), Schneider Electric SE (France), Siemens AG (Germany) and Trilliant Holdings, Inc. (U.S.)

Smart Grid Networking Market Highlights

The global Smart Grid Networking market is accounted to register a CAGR of 10.32% during the forecast period and is estimated to reach USD 37.76 Billion by 2032.

The Smart Grid Networking market encompasses the technologies and solutions used to enable communication and networking within a smart grid infrastructure. It involves the integration of advanced networking technologies such as Internet of Things (IoT), sensors, and wireless communication to facilitate real-time data exchange and control between various components of the grid. This market aims to enhance grid efficiency, reliability, and enable the integration of renewable energy sources and demand-response systems.

Segment Analysis

The global Smart Grid Networking market has been segmented based on Hardware, Software, Services.

Based on Hardware, the market is segmented into cables, controllers, routers, smart meters, switches, and others. With 35% of market revenue coming from smart metres, this sector led the market. The demand for smart devices has been spurred by the quick improvements in cloud computing, analytics, and electronics..

Based on software, the global Smart Grid Networking market has been segmented into network performance monitoring, IP address management, network traffic management, network device management, network configuration management, and network security management. The market's dominance in the network performance monitoring sector can be attributed to increased efforts to update the power system and lower T&D losses.

Based on services, the global Smart Grid Networking market has been segmented into consulting, network planning, design & integration, network risk & security assessment, network maintenance & support, and others. The category with the highest revenue was network risk and security evaluation. Rising demand from the building and construction sector, particularly in developing nations, will likely become the main engine of market expansion.

Regional Analysis

The global Smart Grid Networking market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Smart Grid Networking market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Smart Grid Networking market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Smart Grid Networking market comprises of Middle East, Africa, and Latin America.

The Asia-Pacific Smart Grid Networking Market dominated this market in 2022. The market for smart grid networks in the region is growing as a result of more attention being paid to problems that plague conventional electric networks, growing environmental protection concerns, and a boom in smart grid technology that encourages energy saving and consumption efficiency.

Additionally, the second-largest market share for Smart Grid Networking is held by North America. The region is anticipated to experience a high demand for smart grid technologies because of significant expenditures in new and smart city initiatives.

The Europe Smart Grid Networking Market is anticipated to see the fastest CAGR between 2023 and 2032. The regional picture is predicted to be pushed by the growing demand for energy efficiency in power generation.

Additionally, the UK Smart Grid Networking market had the quickest rate of growth in the European region, while the Germany Smart Grid Networking market had the greatest market share.Key Findings of the Study

• The global Smart Grid Networking market is expected to reach USD 37.76 Billion by 2032, at a CAGR of 16.26% during the forecast period.


• The Asia-Pacific Smart Grid Networking Market dominated this market in 2022. The market for smart grid networks in the region is growing as a result of more attention being paid to problems


• Based on Hardware, the The smart meters segment dominated the market, accounting for 35% of market revenue


• ABB Group (Switzerland), Cisco Systems, Inc. (U.S.), Mitsubishi Electric (Japan), Fujitsu (Japan), General Electric Company (U.S.), Huawei Technologies Co. Ltd. (China), Itron (U.S.), Schneider Electric SE (France), Siemens AG (Germany) and Trilliant Holdings, Inc. (U.S.)