5G Smart Grid Market Size, Share, Opportunities, And Trends By Application (Power Distribution Automation, Monitoring & Inspection), By Deployment (Transmission Lines, Energy Storage Systems), And By Geography - Forecasts From 2025 To 2030

Description

5G Smart Grid Market Size:

The 5G smart grid market is expected to grow at a CAGR of 63.07% between 2025 and 2030.

5G Smart Grid Market Growth Drivers:

• Favorable investments in smart grids are driving market growth.

5G technology is making its way into various industry verticals such as healthcare, telecommunication, BFSI, and government. Likewise, in the energy sector, the technology is finding applicability in providing smart energy services, inclusive of plug-and-play smart metering and virtual network function-based energy monitoring. Hence, in comparison to traditional fiber-based networks, 5G technology’s high throughput, network coverage, and low latency have made it easy for operators to implement device-to-device communication.

The growing demand for sufficient energy to power various industrial and residential applications has provided a major scope for smart grids, thereby simultaneously driving the usage of 5G technology. According to the International Energy Agency, in 2022, digital infrastructure investments for the electric grid stood at US$64 billion, which signified a 7% growth over 2021. Furthermore, the same source that aims to achieve “Net Zero Emissions” by 2050, the investment in smart grids needs to be doubled by 2030.

Additionally, 5G network slicing assists in identifying fault isolation and location through intelligent feeder distribution automation, thereby improving the energy pricing and energy-efficient management strategy. 5G equipment, such as fronthaul & backhaul, antennas, and routers, all of which support standalone configuration, are expected to witness positive growth in their demand in the coming years.

• Government support to bolster digitized grid technology is expected to drive the market expansion.

In comparison to its predecessors, 5G networks offer quick response rates and high throughput which making them the ideal option for achieving high-speed data transmission, which is a crucial aspect in smart grids as it enables the operators to maintain demand response services. The governments of countries are investing in digitizing their grid infrastructure, which is expected to positively impact the demand and usage of 5G technology.

For instance, in October 2022, the European Union initiated the “Digitalization of Energy System” plan, which aimed to invest nearly US$633 billion in the EU’s electric grid by 2030, inclusive of US$184 billion being invested in smart meters and automated grid management. Likewise, according to the June 2023 IEA press release, digital technologies could extend the lifetime of grids and could also save global investments up to US$1.8 trillion by 2050.

5G Smart Grid Market Emerging Opportunities:

• Power Distribution Automation

Based on application, the 5G smart grid market is divided into power distribution automation and monitoring & inspection, where the former is expected to hold a substantial market share, fueled by the growing efforts to enhance the grid performance. Hence, various initiatives, collaborations, and grid-associated 5G product launches are taking place, which are further driving the segment growth.

For instance,

• In March 2022, Analog Devices formed a collaboration with Gridspertise for the development of advanced hardware and software products that would improve the quality and resilience of smart grids. The products would bolster the grid's healing and provide a modern approach for the betterment of grid infrastructure, especially in response to the dynamic changes in energy supply.   
• In February 2022, Qualcomm Technology Inc. formed a joint venture with Gridspertise that aimed the develop smart solutions that would bolster the management of grid complexities. The technological innovations would comprise Qualcomm’s leading-edge security, cloud service, and 5G solutions. 

5G Smart Grid Market Geographical Outlook:

The global 5G smart grid market comprises some major countries undertaking measures to secure their 5G infrastructure. China is expected to witness a higher CAGR during the forecasted period. Some notable developments by major players are listed below:

• In April 2024, Nokia in collaboration with Anterix, completed its “B106” data call at its Texas lab, which has enhanced the scope of development of chipsets and products that would bolster the private wireless network in the utility sector. Hence the collaboration would make it easier for utility operators across the United States to adopt wireless LTE/5G networks.
• In February 2024, State Grid Shandong announced to expansion 5G smart grid footprint through collaboration with China Unicom and Huawei by adding an estimated 3,00,000 5G connections and 1,50,000 RedCap devices in the electric grid by June 2024. The 5G expansion would enable grid operators to exercise on-grid control for PV power distribution, precise load control, and power consumption data collection.

List of Top 5G Smart Grid Companies:

Some of the leading players in the market include Huawei, Honeywell, and Enel Green Power S.p., among others. The product offerings of the major companies include the following:

5G Smart Grid Market Scope:

The 5G Smart Grid Market is analyzed into the following segments:

• By Application
  • Power Distribution Automation
  • Monitoring and Inspection
• By Deployment
  • Transmission Line
  • Energy Storage System
• By Geography
  • Americas
    • United States
    • Others
  • Europe, Middle East, and Africa
    • Germany
    • UK
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • Others

Table Of Contents

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Market Segmentation

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Bandwidth Availability

4.4. Number of Users

5. GOVERNMENT REGULATIONS/POLICIES

6. 5G SMART GRID MARKET, BY APPLICATION

6.1. Introduction

6.2. Power Distribution Automation

6.3. Monitoring and Inspection

7. 5G SMART GRID MARKET, BY DEPLOYMENT

7.1. Introduction

7.2. Transmission Lines

7.3. Energy Storage Systems

8. 5G SMART GRID MARKET, BY GEOGRAPHY

8.1. Introduction

8.2. Americas

8.2.1. United States

8.2.2. Others

8.3. Europe, Middle East and Africa

8.3.1. Germany

8.3.2. UK

8.3.3. Others

8.4. Asia Pacific

8.4.1. China

8.4.2. Japan

8.4.3. South Korea

8.4.4. Others

9. RECENT DEVELOPMENT AND INVESTMENTS

10. COMPETITIVE ENVIRONMENT AND ANALYSIS

10.1. Major Players and Strategy Analysis

10.2. Vendor Competitiveness Matrix

11. COMPANY PROFILES

11.1. Fibocom Wireless Inc.

11.2. Telit

11.3. Neoway Technology Co. LTD

11.4. Honeywell International Inc.

11.5. Huawei Technologies Co., Ltd.

11.6. Enel Green Power S.p.A

Companies Profiled

Fibocom Wireless Inc.

Telit

Neoway Technology Co. LTD

Honeywell International Inc.

Huawei Technologies Co., Ltd.

Enel Green Power S.p.A

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