Smart Grid: Key Opportunities, Challenges & Market Forecasts 2022-2027

• Market Dynamics: Provides a detailed assessment of how the smart grid market share and market growth is evolving, what benefits it can deliver and what the barriers are to future growth within smart city projects in the energy sector.
• Future Outlook & Regional Analysis: Future outlook and comprehensive analysis of the key countries and regions deploying smart grid technologies in smart grid network management, encapsulated by our future outlook for deployment.
• Key Takeaways & Strategic Recommendations: Featuring major opportunities and crucial factors for smart grid vendors highlighted across the smart grid landscape; making for important reading for key stakeholders, including smart grid vendors, utility companies and governments.
• Benchmark Industry Forecasts: 5-year forecasts are provided for smart grid adoption, software spend, energy savings and cost savings. Additionally, smart metering forecasts are included, such as the number of smart meters in service, the shipments of smart meters, hardware revenue, connectivity revenue, and connectivity splits, including 2G, 3G, 4G, 5G, LTE-M (Long-term Evolution Machine-type Communication) and NB-IoT (Narrowband Internet of Things). The regional market revenue forecast data is also split by 8 forecast regions and 60 countries:
  • North America:
    • Canada, US
  • Latin America:
    • Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay
  • West Europe:
    • Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK
  • Central & East Europe:
    • Croatia, Czech Republic, Hungary, Poland, Romania, Russia, Turkey, Ukraine
  • Far East & China:
    • China, Hong Kong, Japan, South Korea
  • Indian Subcontinent:
    • Bangladesh, India, Nepal, Pakistan
  • Rest of Asia Pacific:
    • Australia, Indonesia, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam
  • Africa & Middle East:
    • Algeria, Egypt, Israel, Kenya, Kuwait, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates
• Juniper Research Competitor Leaderboard: Key player capability and capacity assessment for 18 smart grid vendors, via the Juniper Research Competitor Leaderboard featuring major players in smart grid systems:
  • ABB
  • CISCO Systems Inc.
  • Eaton
  • eSmart Systems
  • Fujitsu
  • General Electric
  • Honeywell
  • IBM Corporation
  • Itron
  • Johnson Controls
  • Landis+Gyr AG
  • Oracle Corporation
  • Panasonic Corporation
  • Robert Bosch GmbH
  • Schneider Electric
  • Siemens AG
  • Tantalus
  • Wipro

1. What regions are leading the adoption of the smart grid?
2. What are the major benefits that can be realised via smart grid deployments?
3. What is the anticipated market size for the smart grid in 2027?
4. Which vendors will drive progress in the market and what will their strategies be?
5. What types of connectivity will be leveraged to power the smart grid?

Included in Juniper Research Competitor Leaderboard: ABB, CISCO Systems, Eaton, eSmart Systems, Fujitsu, General Electric, Honeywell, IBM Corporation, Itron, Landis+Gyr AG, Johnson Controls, Oracle Corporation, Panasonic Corporation, Robert Bosch GmbH, Schneider Electric, Siemens AG, Tantalus, Wipro.
 
Mentioned: Accenture, Aclara, Adobe, Airbus, Alibaba, Allmanna Svenska Elektriska Aktiebolaget, Alteryx, American Electric Power, Anthem, Appalachian Electric Coop, Arrow Electronics, Aspern Smart City Research, AT&T, AusNet Services, Avista Utilities, AWS (Amazon Web Services), Badger Meter, Baltimore Gas and Electric, BKW Group Switzerland, Blue Yonder, Boeing, BrightRidge Utility, Brown, Boveri & Cie, Carnegie Mellon University, Caterpillar, CenterPoint Energy, Chase Centre, Chevron, Cielis, Citrix Systems, Clevest, CLK Enerji, Cobham Mission Systems, Cognizant, ComEd, Commvault, Congruitive, CPS Energy, CVS, Dassault Systémes, Deloitte, Dropbox, Duke Energy Sustainable Solutions, E.ON, EDMI Limited, Enedis, Enel, Energy Queensland, Entegrus, EPB Chattanooga, EQUANS, Esri, Evergy, Exceleron, Exelon, Exxon Mobil, Fingrid, First Energy, Flexera, FogHorn, Fortinet, General Motors, Glitre Energi Nett, Google, Green Motion, Hewlett Packard, Intel, Itron, Jiangsu Yineng Electric, KAPES, Kärnten Netz GmbH Austria, Keele University, Kentucky Utilities Company, Laclede Electric Coop, Lamb County EC, Lenovo, Lidl, Louisville Gas and Electric Company, Luna, Meta, Microsoft, Missouri University of Science and Technology, Mitnetz Storm, Mitsubishi Heavy Industries, Mongo DB, MySQL, National Grid, Naturgy Xcel Energy, Network Rail, NextGen Utility Solutions, NineStar Connect, Nissan, Northeastern REMC, Northern Ireland Electricity Networks, Oklahoma Gas and Electric Company, Oncor, Opus One, Philadelphia Museum of Art, Polaris, PTC, Pulaski Electric System, Qlik, Red Hat, Royal Power Solutions, Saint John Energy, Salesforce, SAP, Silver Spring Networks, Southern Company, Statnett, Stedin.net, Swiss Axpo, Tableau Software, Tampa Electric, Tata Consultancy Services, Telefónica, Tenable Network Security Inc, Tennet, Tesla, Thales, Tibco, TINT, Toshiba, Tripp Lite, True Energy, Upwork, UtiliSmart, Verico, Verizon, VMWare, Western Power Australia, Xcel Energy.
 

Juniper Research’s Smart Grid forecast suite includes:

• ​Smart grid adoption
• Smart grid software spend
• Energy savings and cost savings from smart grid adoption
• Number of smart meters in service
• Shipments of smart meters
• Smart meter hardware revenue
• Smart meter connectivity revenue
• Smart meter connectivity splits, including 2G, 3G, 4G, 5G, LTE-M and NB-IoT

Geographical splits: 60 countries
Number of tables: 46 tables
Number of datapoints: Over 20,900 datapoints

harvest: Our online data platform, harvest, contains the very latest market data and is updated throughout the year. This is a fully featured platform enabling clients to better understand key data trends and manipulate charts and tables; overlaying different forecasts within the one chart – using the comparison tool. Empower your business with our market intelligence centre, and receive alerts whenever your data is updated.

Interactive Excels (IFxl): Our IFxl tool enables clients to manipulate both forecast data and charts, within an Excel environment, to test their own assumptions using the interactive scenario tool and compare selected markets side by side in customised charts and tables. IFxls greatly increase a client’s ability to both understand a particular market and to integrate their own views into the model.
 

Cost savings from smart grid deployments will exceed $125 billion globally in 2027; increasing from just over $33 billion in 2022. This 279% growth will be driven by rising energy prices, with smart grid technologies playing a critical role in increasing network efficiency and optimising resource management. The abilities of AI-based analytics are crucial to maximising benefits of new renewable energy sources, by actively balancing load and optimising energy transmission.

• Smart grid deployments are key to the decarbonisation of electricity production. Smart grids will enable energy sources that produce electricity based on external elements, such as solar and wind power, to meet energy requirements more effectively, by actively balancing load and predicting surges in demand & production.
• By leveraging AI, electricity networks can ensure that spikes in demand are predicted and mitigated. Smart grid vendors must focus on enhancing their models to more accurately predict usage patterns to maximise these benefits.
• Smart grid deployments will result in an almost 700 million MMT (Million Metrics Tons) reduction in CO2e (Carbon Dioxide Equivalent) emissions globally in 2027; falling from 214 million in 2022. This will be central to meeting stringent climate change goals, alongside updating generation capabilities to feature more renewable sources, including wind and solar.
• Smart grid vendors must develop data ingestion engines that can analyse and interpret structured and unstructured data from disparate sources, including smart meters, network data and weather forecasts, to maximise emission reductions