United States Smart Grid Market Report by Component (Software, Hardware, Services), End User (Residential, Commercial, Industrial), and Region 2024-2032

United States Smart Grid Market Report by Component (Software, Hardware, Services), End User (Residential, Commercial, Industrial), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A19102
Buy Now

Market Overview:

United States smart grid market size is projected to exhibit a growth rate (CAGR) of 16.30% during 2024-2032. The rapid integration of renewable energy sources, the implementation of supportive regulations, continuous advancements in technology, increasing need to replace aging grid infrastructure, and the rising concern about cybersecurity represent some of the key factors driving the market.

Report Attribute
Key Statistics
Base Year
Forecast Years
Historical Years
Market Growth Rate (2024-2032) 16.30%

A smart grid refers to an advanced electrical grid infrastructure that fundamentally enhances the efficiency, reliability, and sustainability of electricity services. It integrates digital communication technology with the electricity network, enabling two-way communication between utilities and consumers. Smart grid includes various types, such as advanced metering infrastructure (AMI), distribution grid management, grid optimization, and renewable integration. It is comprised of several components, including smart meters, sensors, digital relays, and advanced analytics software. Smart grid possesses a range of features, such as real-time monitoring, demand response, grid automation, and self-healing capabilities. It is widely used for improving energy management, integrating renewable energy sources, charging electric vehicles (EVs), managing outages, balancing load, tracking consumer energy usage, enhancing grid security, and controlling voltage. The smart grid offers several benefits, such as energy efficiency, reduced operational costs, improved grid reliability and resilience, optimized energy consumption, increased consumer engagement, reduced greenhouse gas emissions, and promotion of energy independence.

United States Smart Grid Market Trends:

The rapid integration of renewable energy sources like solar and wind into the energy infrastructure is facilitating the demand for smart grids to manage the variability and distributed nature of these resources. Additionally, the implementation of supportive regulations by the federal and state governments promoting energy efficiency and grid modernization is boosting the market growth. Besides this, continuous advancements in technology, such as the Internet of Things (IoT) and artificial intelligence (AI), contributing to the development of more efficient and intelligent grid systems, are catalyzing the market growth. Furthermore, the increasing need to replace aging electrical infrastructure with modern, efficient systems is contributing to the market growth. In addition, the rising consumer demand for reliable and uninterrupted power supply is bolstering the market growth. Apart from this, the rising concerns about cybersecurity in the energy sector, prompting the adoption of smart grids that offer enhanced security features, are fueling the market growth. Moreover, the growing adoption of EVs, which necessitates an advanced grid infrastructure for efficient charging and load management, is providing a considerable boost to the market growth. Along with this, the decreasing costs of smart grid technologies, including sensors and smart meters, making them more accessible, are driving the market growth. Additionally, the escalating need for improved grid resilience and reliability in the face of natural disasters and extreme weather events is favoring the market growth. Furthermore, the ongoing shift towards decentralized power generation, including microgrids, is acting as another growth-inducing factor. Besides this, the implementation of stringent environmental regulations, necessitating the adoption of smart grids to achieve cleaner energy production and usage, is driving the market growth.

United States Smart Grid Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on component and end user.

Component Insights:

  • Software 
    • Advanced Metering Infrastructure
    • Smart Grid Distribution Management
    • Smart Grid Network Management
    • Substation Automation
    • Others
  • Hardware
    • Sensor
    • Programmable Logic Controller
    • AMI Meter
    • Networking Hardware
    • Others
  • Services
    • Consulting
    • Support and Maintenance
    • Deployment and Integration

The report has provided a detailed breakup and analysis of the market based on the component. This includes software (advanced metering infrastructure, smart grid distribution management, smart grid network management, substation automation, and others), hardware (sensor, programmable logic controller, AMI meter, networking hardware, and others), and services (consulting, support and maintenance, and deployment and integration).

End User Insights:

  • Residential
  • Commercial
  • Industrial

A detailed breakup and analysis of the market based on the end user have also been provided in the report. This includes residential, commercial, and industrial.

Regional Insights:

  • Northeast
  • Midwest
  • South
  • West

The report has also provided a comprehensive analysis of all the major regional markets, which include the Northeast, Midwest, South, and West.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

United States Smart Grid Market Report Coverage:

Report Features Details
Base Year of the Analysis 2023
 Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Scope of the Report Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: 
  • Component
  • End User
  • Region 
Components Covered
  • Software: Advanced Metering Infrastructure, Smart Grid Distribution Management, Smart Grid Network Management, Substation Automation, Others
  • Hardware: Sensor, Programmable Logic Controller, AMI Meter, Networking Hardware, Others
  • Services: Consulting, Support and Maintenance, Deployment and Integration
End Users Covered Residential, Commercial, Industrial
Regions Covered Northeast, Midwest, South, West
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3699
Five User License: US$ 4699
Corporate License: US$ 5699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

  • How has the United States smart grid market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the United States smart grid market?
  • What is the breakup of the United States smart grid market on the basis of component?
  • What is the breakup of the United States smart grid market on the basis of end user?
  • What are the various stages in the value chain of the United States smart grid market? 
  • What are the key driving factors and challenges in the United States smart grid?
  • What is the structure of the United States smart grid market and who are the key players?
  • What is the degree of competition in the United States smart grid market?

Key Benefits for Stakeholders:

  • IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the United States smart grid market from 2018-2032.
  • The research report provides the latest information on the market drivers, challenges, and opportunities in the United States smart grid market.
  • Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the United States smart grid industry and its attractiveness.
  • Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
United States Smart Grid Market Report by Component (Software, Hardware, Services), End User (Residential, Commercial, Industrial), and Region 2024-2032
Purchase options

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us

Phone: +1-631-791-1145


Phone: +91-120-433-0800


Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More