2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

What Drivers Are Shaping the Growth and Development of theSmart Grid Communications Market?

The growth of the smart grid communications sector is poised to be driven by the increasing desire for renewable energy. This type of energy is sourced from naturally renewable elements like sunlight, wind, water, and geothermal heat, which provide greener alternatives to traditional fossil fuels. The burgeoning demand for renewable energy can be attributed to several factors like heightened public cognizance and advocacy for renewable energy, environmental preservation concerns, energy security, and fulfilling corporate sustainability objectives. Renewable energy technologies heavily depend on the smart grid communications to seamlessly integrate with the existing electricity grid, enhance operations, bolster grid resilience, and aid in the shift towards a more reliable and sustainable energy future. Case in point, the Department of Energy Security and Net Zero, a UK government agency, reported that in December 2023, renewable electricity production hit 30.1 TWh in 2023’s 3rd quarter, a 6.8% hike when contrasted with the same time frame in 2022. As such, the surging demand for renewable energy serves as a key catalyst for the expansion of the smart grid communications sector.

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#What Are the Key Projections for the CAGR of the Smart Grid Communications Market From 2025 to 2034?

The market size for smart grid communications has seen fast-paced growth in recent years. The market, which was valued at $13.18 billion in 2024, is projected to rise to $14.81 billion in 2025, marking a compound annual growth rate (CAGR) of 12.4%. Driving this growth during the historical period are factors such as advancements in telecommunications, rising demand for energy efficiency, regulatory directives and standards, increasing complexity and reliability issues of the grid, and technological innovation and reduced costs.

Predictions indicate a swift expansion for the smart grid communications market in the approaching years, increasing to $24.43 billion in 2029 with a 13.3% compound annual growth rate (CAGR). This escalation during the future period is a result of factors such as the absorption of renewable energy resources, a prioritisation on endeavours to modernise the grid, a rise in the need for real-time data analytics and grid optimisation, greater use of electric vehicles and energy storage systems, evolving cybersecurity risks, and a demand for a sturdy communication infrastructure. Key trends to look out for during the forecast period are integration with 5G, edge computing, compliance with interoperability standards, elevated usage of artificial intelligence (AI) and machine learning, and improved cybersecurity safeguards.

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Which Cutting-Edge Market Trends Are Expected to Drive theSmart Grid Communications Market’s Growth?

Leading firms that are part of the smart grid communications sector are zeroing in on crafting high-end products, such as powerline communication devices, to satisfy the growing needs of the industry and increase their market revenue. Powerline communication devices are gadgets that leverage existing electrical wiring for data, voice, and video signal transmission. Qualcomm Technologies Inc., a U.S.-based company that creates wireless telecommunication solutions, for example, introduced the QCA7006AQ – a next-gen powerline communication device – in May 2022. This device is crafted to perfectly interact with smart grid communications, especially when related to electric vehicle (EV) charging stations. The QCA7006AQ is built to facilitate vehicle-to-grid (V2G) systems and judiciously arrange charging timings to lower peak-load power production and supply. This arrangement contributes to effective energy management and aids in leveling demand for power on the grid. Applications for smart-grid charging that align with the CCS (Combined Charging System) standards let consumers choose the best charging windows and draw power from their EVs as required. This approach caters for escalating EV charging demand while cutting back on peak load power creation and distribution demands. Additionally, the QCA7006AQ comes with firmware that offers optional support for HomePlug AV along with HomePlug GreenPHY, delivering a 200 Mbps PHY rate and 95 Mbps UDP throughput over Ethernet.

What Are the Leading Market Players Impacting theSmart Grid Communications Market’s Growth Trend?

Major companies operating in the smart grid communications market are Verizon Communications Inc., Siemens AG, General Electric Company, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Tantalus Systems Corp., Mitsubishi Electric Corporation, Schneider Electric SE, ABB Ltd., Fujitsu Ltd., Eaton Corporation PLC, TE Connectivity Ltd., Emerson Electric Co., Xylem Inc., Honeywell International Inc., Itron Inc., Landis+Gyr, QinetiQ Group PLC, S&C Electric Co., Trilliant Holdings Inc., Infrax Systems Inc., Cooper Electric, Tropos Networks, Silver Spring Networks

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How Are the Key Segments of the Smart Grid Communications Market Driving Opportunities and Innovations?

The smart grid communications market covered in this report is segmented –

1) By Type: Wired, Wireless

2) By Solution: Wide Area Network (WAN), Home Area Network (HAN), Field Area Network (FAN)

3) By Application: Command And Control, Communications, Computers, Surveillance And Reconnaissance

4) By End-User: Media And Entertainment, Banking, Financial Services, And Insurance (BFSI), Healthcare, Transportation, Public Sector, Energy And Utilities, Other End Users

Subsegments:

1) By Wired: Power Line Communication (PLC), Fiber Optic Communication, Ethernet Communication, Copper Wire Communication (Coaxial Cables)

2) By Wireless: Cellular Networks (4G, 5G), Wi-Fi, Zigbee, Long Range Wide Area Network (LoRaWAN), Radio Frequency (RF) Communication, Satellite Communication, Low Power Wide Area Network (LPWAN), Bluetooth

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What Regions Are At the Forefront of #What Drivers Are Shaping the Growth and Development of theSmart Grid Communications Market?# Market Expansion?

North America was the largest region in the smart grid communications market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart grid communications market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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