Global Smart Grid Market Trends 2030 | Infographics

The Smart Grid market has experienced significant growth in recent years and is expected to maintain a strong growth trajectory in the coming years. Valued at USD 52.19 billion in 2022, the market is projected to reach USD 218.58 billion by 2030, reflecting a notable CAGR of 19.61% during the forecasted period from 2023 to 2030. The market is expected to experience growth due to the rising investments in the industry and the implementation of advanced technologies like smart meters, electric vehicle chargers, and other infrastructure advancements. These technological developments are projected to propel the expansion of the market in the upcoming years. Moreover, the demand for smart grids is rapidly increasing due to factors such as growing energy demand, renewable energy integration, grid modernization initiatives, grid resilience, etc. 

Many power grids around the world are outdated and face challenges due to aging infrastructure. Components such as transformers, substations, and power lines may need replacement or upgrades. Modernization initiatives help address these infrastructure issues by incorporating advanced technologies and more efficient equipment. One of the most prominent examples of a modernization initiative is Schneider Electric SE’s EcoStruxure Advanced Distribution Management System (ADMS). Schneider Electric SE's EcoStruxure ADMS offers a comprehensive network management solution that encompasses monitoring, analysis, control, optimization, planning, and training tools. It operates on a unified representation of the entire electric distribution network. By merging Distribution Management Systems (DMS), Outage Management Systems (OMS), and Supervisory Control and Data Acquisition (SCADA) functionalities, EcoStruxure ADMS combines over 50 advanced functions. This integration enables the maximization of benefits derived from intelligent grid devices, distributed renewable energy sources, advanced metering, and other smart grid components.