Smart Grid Market Size 2024 To 2032
- The global smart grid market size reached USD 63.0 Billion in 2023.
- The smart grid market size is expected to reach USD 253.5 Billion by 2032, exhibiting a growth rate (CAGR) of 16.2% during 2024-2032.
- North America leads the market, accounting for the largest smart grid market share.
- Software accounts for the majority of the market share in the component segment due to the growing need for data management and automation.
- Commercial holds the largest share in the smart grid industry, owing to their reliance on uninterrupted power supply.
- The increasing adoption of renewable energy sources is a primary driver of the smart grid market.
- The growing demand for energy across the globe is reshaping the smart grid market.
