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Global Grid Modernization Market Report 2025

Grid Modernization Global Market Report 2025 - By Component (Hardware, Software, Services), By Application (Residential, Commercial, Industrial), By End-User (Utilities, Independent Power Producers (IPPs), Government And Municipalities) - Market Size, Trends, And Global Forecast 2025-2034

Grid Modernization Global Market Report 2025

Report Price : $4490.00 | Pages : 200 | Published : June 2025 | Delivery Time: 2-3 business days Info | Format : pdf

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Grid Modernization Global Market Report 2025

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Description Table Of Contents Tables & Figures

Market Insights

Related Reports

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

What Is Covered Under Grid Modernization Market?

Grid modernization refers to the process of upgrading the existing electrical grid with advanced technologies to enhance its efficiency, reliability, and resilience. Its purpose is to enable better management of energy distribution, integrate renewable sources, and improve overall grid performance to meet future energy demands.

The main components of grid modernization are hardware, software, and services. Grid modernization hardware refers to the physical equipment used to upgrade and improve the electricity grid for better reliability, efficiency, and control. It is used across various applications, including residential, commercial, and industrial sectors. The key end-users include utilities, independent power producers (IPPs), and government and municipal organizations.

Grid Modernization Market Size and growth rate 2025 to 2029: Graph
Share Share

What Is The Grid Modernization Market Size 2025 And Growth Rate?

The grid modernization market size has grown rapidly in recent years. It will grow from $33.62 billion in 2024 to $39.21 billion in 2025 at a compound annual growth rate (CAGR) of 16.6%. The growth in the historic period can be attributed to aging grid infrastructure, rising electricity demand, increasing regulatory pressure, rising demand for renewable energy sources, and rising costs of energy losses.

What Is The Grid Modernization Market Growth Forecast?

The grid modernization market size is expected to see rapid growth in the next few years. It will grow to $71.91 billion in 2029 at a compound annual growth rate (CAGR) of 16.4%. The growth in the forecast period can be attributed to decarbonization initiatives, an increase in distributed energy resources, rising consumer demand for energy independence, the expansion of 5G networks, and increasing reliance on digital technologies. Major trends in the forecast period include integration of AI and machine learning, edge computing for grid control, cloud-based grid management platforms, next-generation cybersecurity solutions, and enhanced renewable integration tools.

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How Is The Grid Modernization Market Segmented?

The grid modernization market covered in this report is segmented –

1) By Component: Hardware, Software, Services

2) By Application: Residential, Commercial, Industrial

3) By End-User: Utilities, Independent Power Producers (IPPs), Government And Municipalities

Subsegments:

1) By Hardware: Smart Meters, Circuit Breakers, Switchgear, Transformers, Sensors, Communication Equipment, Distribution Automation Devices

2) By Software: Advanced Distribution Management Systems (ADMS), Energy Management Systems (EMS), Grid Operations and Control Software, SCADA Systems, Analytics Software, Forecasting and Optimization Software

3) By Services: Consulting Services, Integration and Deployment Services, Maintenance and Support Services, Managed Services, Training and Certification Services

What Is Driving The Grid Modernization Market? Rising Demand For Renewable Energy Sources Fueling The Growth Of The Market Due To The Need For Smarter And More Flexible Energy Infrastructure

Rising demand for renewable energy sources is expected to propel the growth of the grid modernization market. Renewable energy sources are natural sources of energy that can be used again and again, like sunlight, wind, water, and heat from the Earth. The growing demand for renewable energy sources is due to the need to reduce carbon emissions and fight climate change. Grid modernization helps support the demand for renewable energy sources by making the power grid smarter, more flexible, and capable of handling variable energy from sources like solar and wind. For instance, in January 2024, the Energy Information Administration (EIA), a US-based government administration, reported that solar power generation in the U.S. is projected to increase by 75%, from 163 billion kWh in 2023 to 286 billion kWh by 2025. Similarly, wind power generation is expected to grow by 11%, rising from 430 billion kWh in 2023 to 476 billion kWh in 2025. Therefore, rising demand for renewable energy sources will drive the growth of the grid modernization market.

Who Are The Major Players In The Global Grid Modernization Market?

Major companies operating in the grid modernization market are Hitachi Energy Ltd., Siemens AG, Cisco Systems Inc., Oracle Corporation, Schneider Electric SE, Mitsubishi Electric Corporation, Honeywell International Inc., NRG Energy Inc., ABB Ltd., Wipro Limited, Tech Mahindra Limited, Xylem Inc., Itron Inc., Elster Group GmbH, Enel X S.r.l., Kamstrup A/S, Trilliant Holdings Inc., Fluentgrid Limited, Tantalus Systems Holding Inc., eSmart Systems AS

What Are The Key Trends Of The Global Grid Modernization Market? Innovative AI-Driven Solutions Transforming Grid Operations

Major companies operating in the grid modernization are focusing on innovative solutions such as AI-driven ecosystems for utilities to enhance grid resiliency, efficiently manage distributed energy resources, and improve outage response and system reliability. AI-powered, hybrid cloud platforms are smart technology systems that use artificial intelligence and a mix of private and public cloud services to analyze data, make decisions, and manage operations more efficiently. For instance, In March 2025, Schneider Electric SE, a France-based company specializing in energy management and automation solutions, launched One Digital Grid Platform, an AI-powered, hybrid cloud solution. This platform enhances grid resiliency, reliability, and efficiency by integrating independent software solutions, enabling utilities to modernize operations, reduce outages by up to 40%, shorten DER interconnection timelines by 25%, and speed up application deployment by 60%. With robust cybersecurity and seamless interoperability, the platform provides a comprehensive, cost-effective solution for delivering cleaner, more affordable energy.

What Are Latest Mergers And Acquisitions In The Grid Modernization Market? Qualus And Gridbright Join Forces To Drive Secure And Sustainable Grid Integration

In October 2023, Qualus Corporation, a US-based power services firm, acquired GridBright for an undisclosed amount. With this acquisition, Qualus aims to strengthen its position in the energy transition by expanding its capabilities in grid modernization, resiliency, security, and sustainability and offering comprehensive end-to-end solutions to its clients. ?GridBright is a US-based technology company specializing in secure and sustainable grid integration solutions for utilities and renewable energy developers.

What Is The Regional Outlook For The Global Grid Modernization Market?

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

The countries covered in the grid modernization market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

What Defines the Grid Modernization Market?

The grid modernization market consists of revenues earned by entities by providing services such as grid automation services, demand response services, consulting, and system design services. The market value includes the value of related goods sold by the service provider or included within the service offering. The grid modernization market also includes sales of smart meters, smart grid communication devices, power inverters, electric vehicle (EV) charging infrastructure, circuit breakers, and switchgear. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

What is the Market Assessment and Strategic Outlook for the Grid Modernization Industry?

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    Table Of Contents

    1. Executive Summary

    2. Grid Modernization Market Characteristics

    3. Grid Modernization Market Trends And Strategies

    4. Grid Modernization Market - Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics, Trade Wars and Tariffs, And Covid And Recovery On The Market

    5. Global Grid Modernization Growth Analysis And Strategic Analysis Framework

    5.1. Global Grid Modernization PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)

    5.2. Analysis Of End Use Industries

    5.3. Global Grid Modernization Market Growth Rate Analysis

    5.4. Global Grid Modernization Historic Market Size and Growth, 2019 - 2024, Value ($ Billion)

    5.5. Global Grid Modernization Forecast Market Size and Growth, 2024 - 2029, 2034F, Value ($ Billion)

    5.6. Global Grid Modernization Total Addressable Market (TAM)

    6. Grid Modernization Market Segmentation

    6.1. Global Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    Hardware

    Software

    Services

    6.2. Global Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    Residential

    Commercial

    Industrial

    6.3. Global Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    Utilities

    Independent Power Producers (IPPs)

    Government And Municipalities

    6.4. Global Grid Modernization Market, Sub-Segmentation Of Hardware, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    Smart Meters

    Circuit Breakers

    Switchgear

    Transformers

    Sensors

    Communication Equipment

    Distribution Automation Devices

    6.5. Global Grid Modernization Market, Sub-Segmentation Of Software, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    Advanced Distribution Management Systems (ADMS)

    Energy Management Systems (EMS)

    Grid Operations and Control Software

    SCADA Systems

    Analytics Software

    Forecasting And Optimization Software

    6.6. Global Grid Modernization Market, Sub-Segmentation Of Services, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    Consulting Services

    Integration And Deployment Services

    Maintenance And Support Services

    Managed Services

    Training And Certification Services

    7. Grid Modernization Market Regional And Country Analysis

    7.1. Global Grid Modernization Market, Split By Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    7.2. Global Grid Modernization Market, Split By Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    8. Asia-Pacific Grid Modernization Market

    8.1. Asia-Pacific Grid Modernization Market Overview

    Region Information, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    8.3. Asia-Pacific Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    8.4. Asia-Pacific Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    9. China Grid Modernization Market

    9.1. China Grid Modernization Market Overview

    9.2. China Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion

    9.3. China Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion

    9.4. China Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion

    10. India Grid Modernization Market

    10.1. India Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    10.2. India Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    10.3. India Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    11. Japan Grid Modernization Market

    11.1. Japan Grid Modernization Market Overview

    11.2. Japan Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    11.3. Japan Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    11.4. Japan Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    12. Australia Grid Modernization Market

    12.1. Australia Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    12.2. Australia Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    12.3. Australia Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    13. Indonesia Grid Modernization Market

    13.1. Indonesia Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    13.2. Indonesia Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    13.3. Indonesia Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    14. South Korea Grid Modernization Market

    14.1. South Korea Grid Modernization Market Overview

    14.2. South Korea Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    14.3. South Korea Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    14.4. South Korea Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    15. Western Europe Grid Modernization Market

    15.1. Western Europe Grid Modernization Market Overview

    15.2. Western Europe Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    15.3. Western Europe Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    15.4. Western Europe Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    16. UK Grid Modernization Market

    16.1. UK Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    16.2. UK Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    16.3. UK Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    17. Germany Grid Modernization Market

    17.1. Germany Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    17.2. Germany Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    17.3. Germany Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    18. France Grid Modernization Market

    18.1. France Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    18.2. France Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    18.3. France Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    19. Italy Grid Modernization Market

    19.1. Italy Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    19.2. Italy Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    19.3. Italy Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    20. Spain Grid Modernization Market

    20.1. Spain Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    20.2. Spain Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    20.3. Spain Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    21. Eastern Europe Grid Modernization Market

    21.1. Eastern Europe Grid Modernization Market Overview

    21.2. Eastern Europe Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    21.3. Eastern Europe Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    21.4. Eastern Europe Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    22. Russia Grid Modernization Market

    22.1. Russia Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    22.2. Russia Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    22.3. Russia Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    23. North America Grid Modernization Market

    23.1. North America Grid Modernization Market Overview

    23.2. North America Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    23.3. North America Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    23.4. North America Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    24. USA Grid Modernization Market

    24.1. USA Grid Modernization Market Overview

    24.2. USA Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    24.3. USA Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    24.4. USA Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    25. Canada Grid Modernization Market

    25.1. Canada Grid Modernization Market Overview

    25.2. Canada Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    25.3. Canada Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    25.4. Canada Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    26. South America Grid Modernization Market

    26.1. South America Grid Modernization Market Overview

    26.2. South America Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    26.3. South America Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    26.4. South America Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    27. Brazil Grid Modernization Market

    27.1. Brazil Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    27.2. Brazil Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    27.3. Brazil Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    28. Middle East Grid Modernization Market

    28.1. Middle East Grid Modernization Market Overview

    28.2. Middle East Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    28.3. Middle East Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    28.4. Middle East Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    29. Africa Grid Modernization Market

    29.1. Africa Grid Modernization Market Overview

    29.2. Africa Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    29.3. Africa Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    29.4. Africa Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

    30. Grid Modernization Market Competitive Landscape And Company Profiles

    30.1. Grid Modernization Market Competitive Landscape

    30.2. Grid Modernization Market Company Profiles

    30.2.1. Hitachi Energy Ltd. Overview, Products and Services, Strategy and Financial Analysis

    30.2.2. Siemens AG Overview, Products and Services, Strategy and Financial Analysis

    30.2.3. Cisco Systems Inc. Overview, Products and Services, Strategy and Financial Analysis

    30.2.4. Oracle Corporation Overview, Products and Services, Strategy and Financial Analysis

    30.2.5. Schneider Electric SE Overview, Products and Services, Strategy and Financial Analysis

    31. Grid Modernization Market Other Major And Innovative Companies

    31.1. Mitsubishi Electric Corporation

    31.2. Honeywell International Inc.

    31.3. NRG Energy Inc.

    31.4. ABB Ltd.

    31.5. Wipro Limited

    31.6. Tech Mahindra Limited

    31.7. Xylem Inc.

    31.8. Itron Inc.

    31.9. Elster Group GmbH

    31.10. Enel X S.r.l.

    31.11. Kamstrup A/S

    31.12. Trilliant Holdings Inc.

    31.13. Fluentgrid Limited

    31.14. Tantalus Systems Holding Inc.

    31.15. eSmart Systems AS

    32. Global Grid Modernization Market Competitive Benchmarking And Dashboard

    33. Key Mergers And Acquisitions In The Grid Modernization Market

    34. Recent Developments In The Grid Modernization Market

    35. Grid Modernization Market High Potential Countries, Segments and Strategies

    35.1 Grid Modernization Market In 2029 - Countries Offering Most New Opportunities

    35.2 Grid Modernization Market In 2029 - Segments Offering Most New Opportunities

    35.3 Grid Modernization Market In 2029 - Growth Strategies

    35.3.1 Market Trend Based Strategies

    35.3.2 Competitor Strategies

    36. Appendix

    36.1. Abbreviations

    36.2. Currencies

    36.3. Historic And Forecast Inflation Rates

    36.4. Research Inquiries

    36.5. The Business Research Company

    36.6. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2019-2024, $ Billion
  • Table 2: Global Forecast Market Growth, 2024-2029F, 2034F, $ Billion
  • Table 3: Global Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 4: Global Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 5: Global Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 6: Global Grid Modernization Market, Sub-Segmentation Of Hardware, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 7: Global Grid Modernization Market, Sub-Segmentation Of Software, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 8: Global Grid Modernization Market, Sub-Segmentation Of Services, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 9: Global Grid Modernization Market, Split By Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 10: Global Grid Modernization Market, Split By Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 11: Asia-Pacific, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 12: Asia-Pacific, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 13: Asia-Pacific, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 14: China, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 15: China, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 16: China, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 17: India, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 18: India, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 19: India, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 20: Japan, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 21: Japan, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 22: Japan, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 23: Australia, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 24: Australia, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 25: Australia, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 26: Indonesia, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 27: Indonesia, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 28: Indonesia, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 29: South Korea, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 30: South Korea, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 31: South Korea, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 32: Western Europe, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 33: Western Europe, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 34: Western Europe, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 35: UK, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 36: UK, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 37: UK, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 38: Germany, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 39: Germany, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 40: Germany, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 41: France, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 42: France, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 43: France, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 44: Italy, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 45: Italy, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 46: Italy, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 47: Spain, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 48: Spain, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 49: Spain, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 50: Eastern Europe, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 51: Eastern Europe, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 52: Eastern Europe, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 53: Russia, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 54: Russia, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 55: Russia, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 56: North America, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 57: North America, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 58: North America, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 59: USA, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 60: USA, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 61: USA, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 62: Canada, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 63: Canada, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 64: Canada, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 65: South America, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 66: South America, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 67: South America, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 68: Brazil, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 69: Brazil, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 70: Brazil, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 71: Middle East, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 72: Middle East, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 73: Middle East, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 74: Africa, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 75: Africa, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 76: Africa, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 77: Hitachi Energy Ltd. Financial Performance
  • Table 78: Siemens AG Financial Performance
  • Table 79: Cisco Systems Inc. Financial Performance
  • Table 80: Oracle Corporation Financial Performance
  • Table 81: Schneider Electric SE Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2019-2024, $ Billion
  • Figure 2: Global Forecast Market Growth, 2024-2029F, 2034F, $ Billion
  • Figure 3: Global Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 4: Global Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 5: Global Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 6: Global Grid Modernization Market, Sub-Segmentation Of Hardware, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 7: Global Grid Modernization Market, Sub-Segmentation Of Software, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 8: Global Grid Modernization Market, Sub-Segmentation Of Services, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 9: Global Grid Modernization Market, Split By Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 10: Global Grid Modernization Market, Split By Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 11: Asia-Pacific, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 12: Asia-Pacific, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 13: Asia-Pacific, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 14: China, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 15: China, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 16: China, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 17: India, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 18: India, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 19: India, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 20: Japan, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 21: Japan, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 22: Japan, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 23: Australia, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 24: Australia, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 25: Australia, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 26: Indonesia, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 27: Indonesia, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 28: Indonesia, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 29: South Korea, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 30: South Korea, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 31: South Korea, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 32: Western Europe, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 33: Western Europe, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 34: Western Europe, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 35: UK, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 36: UK, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 37: UK, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 38: Germany, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 39: Germany, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 40: Germany, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 41: France, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 42: France, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 43: France, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 44: Italy, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 45: Italy, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 46: Italy, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 47: Spain, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 48: Spain, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 49: Spain, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 50: Eastern Europe, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 51: Eastern Europe, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 52: Eastern Europe, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 53: Russia, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 54: Russia, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 55: Russia, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 56: North America, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 57: North America, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 58: North America, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 59: USA, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 60: USA, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 61: USA, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 62: Canada, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 63: Canada, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 64: Canada, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 65: South America, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 66: South America, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 67: South America, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 68: Brazil, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 69: Brazil, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 70: Brazil, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 71: Middle East, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 72: Middle East, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 73: Middle East, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 74: Africa, Grid Modernization Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 75: Africa, Grid Modernization Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 76: Africa, Grid Modernization Market, Segmentation By End-User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 77: Hitachi Energy Ltd. Financial Performance
  • Figure 78: Siemens AG Financial Performance
  • Figure 79: Cisco Systems Inc. Financial Performance
  • Figure 80: Oracle Corporation Financial Performance
  • Figure 81: Schneider Electric SE Financial Performance

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Frequently Asked Questions

What is the definition of the Grid Modernization market?

Grid modernization refers to the process of upgrading the existing electrical grid with advanced technologies to enhance its efficiency, reliability, and resilience. Its purpose is to enable better management of energy distribution, integrate renewable sources, and improve overall grid performance to meet future energy demands. For further insights on the Grid Modernization market, request a sample here

How will the Grid Modernization market drivers and restraints affect the market dynamics? What forces will shape the Grid Modernization industry going forward?

The Grid Modernization market major growth driver - Rising Demand For Renewable Energy Sources Fueling The Growth Of The Market Due To The Need For Smarter And More Flexible Energy Infrastructure. For further insights on the Grid Modernization market, request a sample here

What is the forecast market size or the forecast market value of the Grid Modernization market?

The Grid Modernization market size has grown strongly in recent years. The grid modernization market size has grown rapidly in recent years. It will grow from $33.62 billion in 2024 to $39.21 billion in 2025 at a compound annual growth rate (CAGR) of 16.6%. The growth in the historic period can be attributed to aging grid infrastructure, rising electricity demand, increasing regulatory pressure, rising demand for renewable energy sources, and rising costs of energy losses. The grid modernization market size is expected to see rapid growth in the next few years. It will grow to $71.91 billion in 2029 at a compound annual growth rate (CAGR) of 16.4%. The growth in the forecast period can be attributed to decarbonization initiatives, an increase in distributed energy resources, rising consumer demand for energy independence, the expansion of 5G networks, and increasing reliance on digital technologies. Major trends in the forecast period include integration of AI and machine learning, edge computing for grid control, cloud-based grid management platforms, next-generation cybersecurity solutions, and enhanced renewable integration tools. For further insights on the Grid Modernization market, request a sample here

How is the Grid Modernization market segmented?

The grid modernization market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Application: Residential, Commercial, Industrial
3) By End-User: Utilities, Independent Power Producers (IPPs), Government And Municipalities
Subsegments:
1) By Hardware: Smart Meters, Circuit Breakers, Switchgear, Transformers, Sensors, Communication Equipment, Distribution Automation Devices
2) By Software: Advanced Distribution Management Systems (ADMS), Energy Management Systems (EMS), Grid Operations and Control Software, SCADA Systems, Analytics Software, Forecasting and Optimization Software
3) By Services: Consulting Services, Integration and Deployment Services, Maintenance and Support Services, Managed Services, Training and Certification Services For further insights on the Grid Modernization market, request a sample here

Which region has the largest share of the Grid Modernization market? What are the other regions covered in the report?

North America was the largest region in the grid modernization market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the grid modernization market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. For further insights on the Grid Modernization market, request a sample here.

Who are the major players in the Grid Modernization market?

Major companies operating in the grid modernization market are Hitachi Energy Ltd., Siemens AG, Cisco Systems Inc., Oracle Corporation, Schneider Electric SE, Mitsubishi Electric Corporation, Honeywell International Inc., NRG Energy Inc., ABB Ltd., Wipro Limited, Tech Mahindra Limited, Xylem Inc., Itron Inc., Elster Group GmbH, Enel X S.r.l., Kamstrup A/S, Trilliant Holdings Inc., Fluentgrid Limited, Tantalus Systems Holding Inc., eSmart Systems AS . For further insights on the Grid Modernization market, request a sample here.

What are the key trends in the Grid Modernization market?

Major trends in the Grid Modernization market include Innovative AI-Driven Solutions Transforming Grid Operations. For further insights on the Grid Modernization market, request a sample here.

What are the major opportunities in the Grid Modernization market? What are the strategies for the Grid Modernization market?

For detailed insights on the major opportunities and strategies in the Grid Modernization market, request a sample here.

How does the Grid Modernization market relate to the overall economy and other similar markets?

For detailed insights on Grid Modernization's relation to the overall economy and other similar markets, request a sample here.

What are the latest mergers and acquisitions in the Grid Modernization industry?

For detailed insights on the mergers and acquisitions in the Grid Modernization industry, request a sample here.

What are the key dynamics influencing the Grid Modernization market growth? SWOT analysis of the Grid Modernization market.

For detailed insights on the key dynamics influencing the Grid Modernization market growth and SWOT analysis of the Grid Modernization industry, request a sample here.