Global Smart Grid Market was valued at USD 20.49 Billion in the year 2017. Global Smart Grid market is further estimated to grow at a CAGR of 18.83% from 2017 to reach USD 57.68 Billion by the year 2022. North America region holds the highest market share in 2016 and North America market is considered as the fastest growing market in the forecasted period. At a country level U.S, Canada, Mexico holds the highest market share in 2016 and it is projected to grow strongly in the coming years.

ALSTOM (France), Aclara Technologies LLC. (Missouri, US), General Electric Company (New York, US), Schneider Electric SA (Rueil-Malmaison, France), Oracle Corporation (California, US), ABB Ltd. (Zurich, Switzerland), Cisco Systems, Inc. (California, U.S), Siemens AG (Munich, Germany), Open Systems International, Inc. (Minnesota, U.S), Wipro Limited (Bengaluru, India) are some of the key players in the Global Smart Grid market. Rising research and development expenses to cater changing demand of end users, similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of the top manufacturers in recent years.
Drivers:
Government Legislation and Policies
Sustainability
Restraints:
Installation cost is higher
Opportunities:
Enable market for electricity to flourish
Challenges:
Network communication is critical

The Global Smart Grid Market is segmented by hardware, by software, and by services in the forecasted period. In Software segment, the major shares of the market come from Communication segment in Global Smart Grid Market. As hardware and software come under communication and together create a mesh network. On the other hand, by hardware type, Sensors for Smart Grid market is expected to grow at highest CAGR during the year 2017-2022.

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Key Benefits for Stakeholders
Smart Grid Manufacturers, Distributors and Retailers
Research and Consulting organization
Technology Standards Organizations, Forums, Alliances and Associations
End-use industries
Regulatory bodies, policy actors, and consumers.

By Hardware
Sensors
Programmable Logic Controller
Advanced Metering Infrastructure (AMI) Meter
Networking Hardware
Others

By Software
Smart Grid Distribution Management
Advanced Metering Infrastructure
Smart Grid Communication
Billing and Customer Information System
Substation Automation
Grid Asset Management
By Service
Maintenance & Support
Consulting
Deployment & Integration

By Region
North America
Europe
Asia-Pacific
ROW

Key Market Players
ALSTOM (France)
Aclara Technologies LLC. (Missouri, US)
General Electric Company (New York, US)
Schneider Electric SA (Rueil-Malmaison, France)
Oracle Corporation (California, US)
ABB Ltd. (Zurich, Switzerland)
Cisco Systems, Inc. (California, U.S)
(A brief overview of another 13 companies is also provided)

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