The North America smart grid market is anticipated to grow with a CAGR of 9.30%, during the forecast years of 2021 to 2028. The region’s market growth is supplemented by the presence of leading market players, the aging transmission and distribution systems, and the surging investments and expenditure on smart grids and smart metering systems.

NORTH AMERICA SMART GRID MARKET FORECAST 2021-2028

North America Smart Grid Market by End-user ( Commercial End-user, Industrial End-user, Residential End-user ) Market by Application ( Transmission, Distribution, Consumption/end-use, Generation ) Market by Component ( Solution, Services ) by Geography.

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The North America smart grid market is anticipated to grow with a CAGR of 9.30%, during the forecast years of 2021 to 2028. The region’s market growth is supplemented by the presence of leading market players, the aging transmission and distribution systems, and the surging investments and expenditure on smart grids and smart metering systems.
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The North America smart grid market growth is assessed through the analysis of the United States and Canada. As per the 2018 Smart Grid System Report, the annual smart grid investments across the United States increased by 41% from 2014 to 2016, and accounted for $4.8 billion. The investments are anticipated to further increase to $13.8 billion, by 2024. As a result, the United States’ federal and state governments continue to ensure the availability of funding, in terms of loans for research and development, in addition to deploying novel digital technologies.

According to the Energy Information Administration, the United States’ residential electricity rates increased by nearly 24%, over the past decade. In this regard, the high average electricity expenditure has encouraged the adoption of solar grids, primarily for domestic consumption. The aspect has also resulted in the introduction of distributed electricity networks, owing to which small businesses and households, can direct the excess energy to utilities. Hence, these factors are predicted to fuel the smart grid market growth in North America, over the forecast period.

With its headquarters in the United States, Honeywell International is a diversified manufacturing and technology company. It provides aerospace products and services, energy-efficient products and solutions for transportation, homes, and businesses, turbochargers, specialty chemicals, process technology for petrochemicals and refining, electronic and advanced materials, and others.

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    1. RESEARCH SCOPE & METHODOLOGY
      • STUDY OBJECTIVES
      • SCOPE OF STUDY
      • METHODOLOGY
      • ASSUMPTIONS & LIMITATIONS
    2. EXECUTIVE SUMMARY
      • MARKET SIZE & ESTIMATES
      • MARKET OVERVIEW
    3. MARKET DYNAMICS
      • MARKET SCOPE
      • KEY DRIVERS
        • NEED FOR EFFICIENT USE OF ENERGY
        • RAPID DIGITIZATION OF ELECTRICITY INFRASTRUCTURE
        • SHIFTING TREND TOWARDS RENEWABLE ENERGY USE
        • GOVERNMENT REGULATIONS & POLICIES
        • STABILITY IN INSTALLATION COSTS
        • INVESTMENT IN SMART GRID PROJECTS
      • KEY RESTRAINTS
        • CHALLENGES IN TERMS OF INTEROPERABILITY & STANDARDIZATION
        • SECURITY CONCERNS
    1. KEY ANALYTICS
      • IMPACT OF COVID-19 ON SMART GRID MARKET
      • KEY INVESTMENT INSIGHTS
      • PORTER’S FIVE FORCES ANALYSIS
        • BUYERS POWER
        • SUPPLIERS POWER
        • SUBSTITUTION
        • NEW ENTRANTS
        • INDUSTRY RIVALRY
      • OPPORTUNITY MATRIX
      • VENDOR LANDSCAPE
    2. MARKET BY END-USER
      • COMMERCIAL END-USER
      • INDUSTRIAL END-USER
      • RESIDENTIAL END-USER
    3. MARKET BY APPLICATION
      • TRANSMISSION
      • DISTRIBUTION
      • CONSUMPTION/END-USE
      • GENERATION
    4. MARKET BY COMPONENT
      • SOLUTION
        • SUBSTATION AUTOMATION
        • SMART GRID DISTRIBUTION MANAGEMENT
        • ADVANCED METERING INFRASTRUCTURE
        • SMART GRID NETWORK MANAGEMENT
        • SMART GRID SECURITY
        • SMART GRID COMMUNICATION
        • OTHER SOLUTIONS
      • SERVICES
    5. GEOGRAPHICAL ANALYSIS
      • NORTH AMERICA
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED STATES
          • CANADA
    1. COMPETITIVE LANDSCAPE
      • KEY STRATEGIC DEVELOPMENTS
        • MERGERS & ACQUISITIONS
        • PRODUCT LAUNCHES & DEVELOPMENTS
        • PARTNERSHIPS & AGREEMENTS
        • BUSINESS EXPANSIONS & DIVESTITURES
      • COMPANY PROFILES
        • ABB LTD
        • AMDOCS CORPORATION
        • AUTOGRID SYSTEMS INC
        • CISCO SYSTEMS INC
        • GENERAL ELECTRIC COMPANY
        • HONEYWELL INTERNATIONAL
        • INTERNATIONAL BUSINESS MACHINES CORPORATION
        • ITRON INC
        • LANDIS & GYR GROUP AG
        • ORACLE CORPORATION
        • SCHNEIDER ELECTRIC SE
        • SENSUS INC
        • SIEMENS AG
        • TANTALUS SYSTEM CORP
        • WIPRO LIMITED

    LIST OF TABLES

    TABLE 1: MARKET SNAPSHOT – SMART GRID

    TABLE 2: NORTH AMERICA SMART GRID MARKET, BY END-USER, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 3: NORTH AMERICA SMART GRID MARKET, BY END-USER, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 4: NORTH AMERICA SMART GRID MARKET, BY APPLICATION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 5: NORTH AMERICA SMART GRID MARKET, BY APPLICATION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 6: NORTH AMERICA SMART GRID MARKET, BY COMPONENT, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 7: NORTH AMERICA SMART GRID MARKET, BY COMPONENT, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 8: NORTH AMERICA SOLUTION MARKET, BY TYPE, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 9: NORTH AMERICA SOLUTION MARKET, BY TYPE, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 10: NORTH AMERICA SMART GRID MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 11: NORTH AMERICA SMART GRID MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 12: LIST OF MERGERS & ACQUISITIONS

    TABLE 13: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

    TABLE 14: LIST OF PARTNERSHIPS & AGREEMENTS

    TABLE 15: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

    LIST OF FIGURES

    FIGURE 1: KEY INVESTMENT INSIGHTS

    FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

    FIGURE 3: OPPORTUNITY MATRIX

    FIGURE 4: VENDOR LANDSCAPE

    FIGURE 5: NORTH AMERICA SMART GRID MARKET, GROWTH POTENTIAL, BY END-USER, IN 2020

    FIGURE 6: NORTH AMERICA SMART GRID MARKET, BY COMMERCIAL END-USER, 2021-2028 (IN $ MILLION)

    FIGURE 7: NORTH AMERICA SMART GRID MARKET, BY INDUSTRIAL END-USER, 2021-2028 (IN $ MILLION)

    FIGURE 8: NORTH AMERICA SMART GRID MARKET, BY RESIDENTIAL END-USER, 2021-2028 (IN $ MILLION)

    FIGURE 9: NORTH AMERICA SMART GRID MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2020

    FIGURE 10: NORTH AMERICA SMART GRID MARKET, BY TRANSMISSION, 2021-2028 (IN $ MILLION)

    FIGURE 11: NORTH AMERICA SMART GRID MARKET, BY DISTRIBUTION, 2021-2028 (IN $ MILLION)

    FIGURE 12: NORTH AMERICA SMART GRID MARKET, BY CONSUMPTION/END-USE, 2021-2028 (IN $ MILLION)

    FIGURE 13: NORTH AMERICA SMART GRID MARKET, BY GENERATION, 2021-2028 (IN $ MILLION)

    FIGURE 14: NORTH AMERICA SMART GRID MARKET, GROWTH POTENTIAL, BY COMPONENT, IN 2020

    FIGURE 15: NORTH AMERICA SMART GRID MARKET, BY SOLUTION, 2021-2028 (IN $ MILLION)

    FIGURE 16: NORTH AMERICA SMART GRID MARKET, BY SUBSTATION AUTOMATION, 2021-2028 (IN $ MILLION)

    FIGURE 17: NORTH AMERICA SMART GRID MARKET, BY SMART GRID DISTRIBUTION MANAGEMENT, 2021-2028 (IN $ MILLION)

    FIGURE 18: NORTH AMERICA SMART GRID MARKET, BY ADVANCED METERING INFRASTRUCTURE, 2021-2028 (IN $ MILLION)

    FIGURE 19: NORTH AMERICA SMART GRID MARKET, BY SMART GRID NETWORK MANAGEMENT, 2021-2028 (IN $ MILLION)

    FIGURE 20: NORTH AMERICA SMART GRID MARKET, BY SMART GRID SECURITY, 2021-2028 (IN $ MILLION)

    FIGURE 21: NORTH AMERICA SMART GRID MARKET, BY SMART GRID COMMUNICATION, 2021-2028 (IN $ MILLION)

    FIGURE 22: NORTH AMERICA SMART GRID MARKET, BY OTHER SOLUTIONS, 2021-2028 (IN $ MILLION)

    FIGURE 23: NORTH AMERICA SMART GRID MARKET, BY SERVICES, 2021-2028 (IN $ MILLION)

    FIGURE 24: NORTH AMERICA SMART GRID MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

    FIGURE 25: UNITED STATES SMART GRID MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 26: CANADA SMART GRID MARKET, 2021-2028 (IN $ MILLION)

    1. GEOGRAPHICAL ANALYSIS
      • NORTH AMERICA
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED STATES
          • CANADA
    1. MARKET BY END-USER
      • COMMERCIAL END-USER
      • INDUSTRIAL END-USER
      • RESIDENTIAL END-USER
    2. MARKET BY APPLICATION
      • TRANSMISSION
      • DISTRIBUTION
      • CONSUMPTION/END-USE
      • GENERATION
    3. MARKET BY COMPONENT
      • SOLUTION
        • SUBSTATION AUTOMATION
        • SMART GRID DISTRIBUTION MANAGEMENT
        • ADVANCED METERING INFRASTRUCTURE
        • SMART GRID NETWORK MANAGEMENT
        • SMART GRID SECURITY
        • SMART GRID COMMUNICATION
        • OTHER SOLUTIONS
      • SERVICES

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