The Global Smart Grid Communication Node Market was valued at USD 68.09 billion in 2023 and is predicted to reach USD 216.37 billion by 2029 from 82.56 billion in 2024 at a CAGR of 21.25% over a foreseen period of 2024-2029.
The smart grid is a modern concept that encompasses the integration of the electricity grid with renewable and non-renewable energy resources, automated control, and communication networks. Smart grids aim to improve the efficiency, safety, and reliability of the electricity grid. Communication is vital in smart grid infrastructures because most operations on the smart grid take place in real-time. Smart grid communication systems are directly dependent on smart grid networks. The smart grid is a concept that contains the integration of the electricity grid with renewable and non-renewable energy resources. Smart Grid communication nodes are communication redistribution points that depend directly on Smart Grid networks.
The adoption of smart grid communication nodes is growing rapidly around the world. The market for smart grid communication nodes has become colossal since its inception. North America and Europe have matured the smart grid communication node market. Asia-Pacific has a huge potential market for smart grid communication nodes and is experiencing significant expansion.
The communication nodes of the intelligent network help to reduce technical and commercial losses. They also encourage the real-time monitoring of systems and feedback communication. All of these factors have been attributed to the overall market call for smart grid communication nodes. Operational errors are also reduced through the use of communication nodes. The current model of electricity transmission and distribution has proven its presence because it is a reliable network. Researchers are currently experimenting with smart grid technologies to overcome the shortcomings of the traditional grid. Many prominent key players are focusing on the deployment of the communication node network which is predicted to drive the expansion of the worldwide smart grid communication node market. The escalating call for uninterrupted power supply and the simplification of communications between electricity providers and consumers have also escalated the call for smart grid communication nodes. The communication nodes of the smart grid help reduce technical and commercial losses. They also encourage the real-time monitoring of systems and feedback communication. All of these factors have been attributed to the overall market call for smart grid communication nodes. Operational errors are also reduced through the use of communication nodes.
High installation costs could hamper the expansion of the smart grid communication node market. Many organizations and utilities need to replace old power infrastructure. Due to the slow response time and high replacement cost of the smart grid communication system, companies are not ready to upgrade their old power infrastructure, which is hampering the call of the smart grid communications market.
The long-term benefits will bring new opportunities to the smart grid communication node market. Currently, in the market for smart grid communication nodes, information technology, and communication devices are preferred over existing networks to reduce waste of electricity and energy costs and improve reliability and efficiency. The introduction of advanced network technology plays a vital role in enabling the energy industry to achieve a new level of efficiency and reliability. Continuous call for electricity is a critical issue that requires special attention in today's smart grid era. The escalating call for uninterrupted power supply and the optimization of communications between electricity providers and consumers is predicted to increase the call for smart grid communication nodes. The implementation of smart grids improves the efficiency, safety, and reliability of the electrical grid. To develop and establish an intelligent network system, effective communication systems with the intelligent network must be implemented. The market for smart grid systems and smart grid communications is predicted to grow simultaneously due to the escalating adoption of smart grid technologies instead of traditional equipment. Communication systems are the key component of any smart grid infrastructure simply because most of the smart grid functions occur in real-time. The level of security and the ability to store information at the same time by implementing smart grid communication systems is predicted to have a positive impact on the worldwide smart grid communications market.
On the other hand, the growing presence of renewable energy generation and the proliferation of customer- and merchant-owned DERs are predicted to increase the highest levels of variability and uncertainty in electricity supply and call. Furthermore, high installation costs are predicted to limit the expansion of the worldwide smart grid communication node market.
Electricity demand dropped quickly with confinement measures but steadily recovered as measures were gradually softened. In India, recovery appeared faster and stronger than in EU countries. In October, India seems back on track of pre-COVID-19 trends; in the EU, restriction measures are taken again in several countries. Electricity demand dropped to Sunday levels under lockdown, with dramatic reductions in services and industry only partially offset by higher residential use. When confinement was eased in Italy and Germany in April, electricity demand showed the first signs of recovering. This trend was confirmed in May as more countries softened lockdown measures. In June and July, the electricity demands, weather corrected, stayed at 10% and 5% respectively below the 2019 level of the same month, in most countries except India, where the recovery was more pronounced. In August, the sustained recovery in electricity demand growth for EU countries brought them close to their 2019 levels, though some restrictions measures continued to curb electricity demand in September.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 – 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 - 2029 |
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CAGR |
21.25% |
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Segments Covered |
By Type, Application, and Region. |
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Various Analyses Covered |
Global, Regional, and Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
ABB Ltd, Etap Inc, Metrycom Communication Ltd, Osisoft Llc, Southern States Llc, Sensus, Viola Systems, Tropos Networks Inc, Trilliant Inc, And Others. |
Wireless communication nodes are more convenient and viable than wired communication nodes. However, wired communication nodes require more infrastructure and, therefore, cover a smaller area. Cellular wireless networks are emerging as a strong position in attempts to achieve a ubiquitous communications network on a large scale. Cellular technologies and the evolution of the new 5G era are some of the beneficial factors for the smart grid.
The Smart Grid Communication Node Market Report includes the segmentation of Regions:
The adoption of smart grid communication nodes is escalating at an exponential rate of expansion around the world. Through regional analysis of the smart grid communication nodes market, North America and Europe have matured markets for smart grid communication nodes. Additionally, the Asia-Pacific region has a great potential opportunity for smart grid communication nodes. Power grids in developing economies are becoming difficult factors in sustaining electricity calls.
The Asia Pacific, communication node market, is predicted to grow at a CAGR of XX% during the foreseen period. A greater concentration of governments such as China and India, the adoption of smart technologies in power grid infrastructure, and the challenges of aging transmission and distribution (T&D) infrastructure and distributed generation are predicted to increase. Regional expansion.
The smart grid communications market in North America and Europe is predicted to have the largest market share during the foreseen period. The Asia Pacific region, mainly in China and India, is predicted to show promising expansion in the smart grid communications market.
Some of the key players in the global Smart Grid Communication Node Market include
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