Post COVID-19, the global energy and utility companies to continue to invest in smart grid projects.
North America is expected to be the largest market for smart grid
The smart grid industry in North America is expected to be the largest during the forecast period. This growth is attributed to the rise in demand for smart grid infrastructure to improve service reliability and operating efficiency. The US and Canada are the major two economies in the region that focus on investing in grid modernization. For instance, the US government allocated funds for smart meter units and making the installation of smart meters mandatory in several states, including California and Texas. Such initiatives are likely to drive the smart grid market.
Some of the major players in the smart grid industry are GE (US), ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Itron (US), Landis+Gyr (Switzerland), Aclara (US), Cisco (US), OSI (US), IBM (US), NKSoft KEMA (US), Oracle (US), Honeywell (US), S&C Electric Company (US), Eaton (Ireland), Kamstrup (Denmark) and Trilliant Holdings (US), among others.