The Global Grid Asset Management Market Size is estimated to register 8.8% growth over the forecast period from 2023 to 2030.
The market growth is driven by the increasing adoption of renewable energy sources like solar and wind necessitates better grid asset management to accommodate intermittent power generation. Leading companies that are focused on the Integration of Advanced Technologies, Smart Grid Expansion, Renewable Energy Growth, Decentralization, Electrification of Transportation, and others to boost market shares in the industry.
The Grid Asset Management Market involves technologies and strategies to monitor, optimize, and maintain electrical grid assets such as transformers and transmission lines. Key drivers include aging infrastructure, renewable energy integration, smart grid adoption, energy efficiency, and resilience planning, propelled by regulatory requirements. Trends include digitalization, AI, cybersecurity, remote monitoring, decentralization, and increased customer engagement. Grid asset management is essential for improving grid reliability, reducing energy losses, and supporting the transition to a more sustainable and resilient energy system.
Efficient grid asset management relies on advanced technologies such as data analytics, IoT sensors, AI, and digital twins to monitor, predict, and optimize the performance of electrical grid infrastructure. This data-driven approach enables proactive maintenance, reduces downtime, and improves overall grid reliability. Additionally, strategies encompassing remote monitoring, cybersecurity, renewable integration, and compliance with regulations play a crucial role in empowering effective asset management and ensuring the resilience and sustainability of the electrical grid.
The grid asset management market is experiencing a rising demand for IoT and sensors. These technologies are being deployed to gather real-time data on grid asset performance, facilitating predictive maintenance and enhancing operational efficiency. As the grid becomes more data-driven and interconnected, the adoption of IoT and sensors is expected to further grow, bolstering grid reliability and efficiency.
In the grid asset management market, cybersecurity concerns are paramount due to the increasing use of digital technologies like IoT sensors and data analytics. These vulnerabilities can lead to operational disruptions, data breaches, and safety risks. Robust cybersecurity measures, including encryption and regular audits, are crucial to protect grid assets and ensure the electrical grid's reliability and security as it becomes more reliant on digital systems.
The Global Grid Asset Management Market is analyzed across the Grid Monitoring and Control, Energy Efficient and Optimization, Grid Planning and Expansion, and others. Of these, Energy Efficient and Optimization are poised to register the fastest growth. Energy efficiency and optimization are central in grid asset management, driven by the need to reduce energy consumption, lower costs, and enhance grid performance. This involves deploying advanced technologies like data analytics and smart grid solutions to minimize waste and carbon emissions while ensuring reliability. Optimization strategies, including predictive maintenance and load balancing, are crucial for assets to operate at peak efficiency, promoting sustainability and a reliable electrical grid.
The Global Grid Asset Management Market is analyzed across a wide range of types including SCADA Systems, Distribution Management Systems, Advanced Metering Infrastructure, and others. Of these, Advanced Metering Infrastructure held a significant market share in 2023. Advanced Metering Infrastructure (AMI) is a crucial component of grid asset management, facilitating real-time data collection and two-way communication for efficient grid operations, precise billing, and improved asset management. By providing detailed insights into energy consumption and grid conditions, AMI supports predictive maintenance, load balancing, and outage detection, enhancing grid asset performance, reliability, and sustainability.
By Application
By Type
By End User
By Region
*List not exhaustive
Grid Asset Management Market Outlook 2023
1 Market Overview
1.1 Introduction to the Grid Asset Management Market
1.2 Scope of the Study
1.3 Research Objective
1.3.1 Key Market Scope and Segments
1.3.2 Players Covered
1.3.3 Years Considered
2 Executive Summary
2.1 2023 Grid Asset Management Industry- Market Statistics
3 Market Dynamics
3.1 Market Drivers
3.2 Market Challenges
3.3 Market Opportunities
3.4 Market Trends
4 Market Factor Analysis
4.1 Porter’s Five Forces
4.2 Market Entropy
4.2.1 Global Grid Asset Management Market Companies with Area Served
4.2.2 Products Offerings Global Grid Asset Management Market
5 COVID-19 Impact Analysis and Outlook Scenarios
5.1.1 Covid-19 Impact Analysis
5.1.2 post-COVID-19 Scenario- Low Growth Case
5.1.3 post-COVID-19 Scenario- Reference Growth Case
5.1.4 post-COVID-19 Scenario- Low Growth Case
6 Global Grid Asset Management Market Trends
6.1 Global Grid Asset Management Revenue (USD Million) and CAGR (%) by Type (2018-2030)
6.2 Global Grid Asset Management Revenue (USD Million) and CAGR (%) by Applications (2018-2030)
6.3 Global Grid Asset Management Revenue (USD Million) and CAGR (%) by regions (2018-2030)
7 Global Grid Asset Management Market Revenue (USD Million) by Type, and Applications (2018-2022)
7.1 Global Grid Asset Management Revenue (USD Million) by Type (2018-2022)
7.1.1 Global Grid Asset Management Revenue (USD Million), Market Share (%) by Type (2018-2022)
7.2 Global Grid Asset Management Revenue (USD Million) by Applications (2018-2022)
7.2.1 Global Grid Asset Management Revenue (USD Million), Market Share (%) by Applications (2018-2022)
8 Global Grid Asset Management Development Regional Status and Outlook
8.1 Global Grid Asset Management Revenue (USD Million) By Regions (2018-2022)
8.2 North America Grid Asset Management Revenue (USD Million) by Type, and Application (2018-2022)
8.2.1 North America Grid Asset Management Revenue (USD Million) by Country (2018-2022)
8.2.2 North America Grid Asset Management Revenue (USD Million) by Type (2018-2022)
8.2.3 North America Grid Asset Management Revenue (USD Million) by Applications (2018-2022)
8.3 Europe Grid Asset Management Revenue (USD Million), by Type, and Applications (USD Million) (2018-2022)
8.3.1 Europe Grid Asset Management Revenue (USD Million), by Country (2018-2022)
8.3.2 Europe Grid Asset Management Revenue (USD Million) by Type (2018-2022)
8.3.3 Europe Grid Asset Management Revenue (USD Million) by Applications (2018-2022)
8.4 Asia Pacific Grid Asset Management Revenue (USD Million), and Revenue (USD Million) by Type, and Applications (2018-2022)
8.4.1 Asia Pacific Grid Asset Management Revenue (USD Million) by Country (2018-2022)
8.4.2 Asia Pacific Grid Asset Management Revenue (USD Million) by Type (2018-2022)
8.4.3 Asia Pacific Grid Asset Management Revenue (USD Million) by Applications (2018-2022)
8.5 South America Grid Asset Management Revenue (USD Million), by Type, and Applications (2018-2022)
8.5.1 South America Grid Asset Management Revenue (USD Million), by Country (2018-2022)
8.5.2 South America Grid Asset Management Revenue (USD Million) by Type (2018-2022)
8.5.3 South America Grid Asset Management Revenue (USD Million) by Applications (2018-2022)
8.6 Middle East and Africa Grid Asset Management Revenue (USD Million), by Type, Technology, Application, Thickness (2018-2022)
8.6.1 Middle East and Africa Grid Asset Management Revenue (USD Million) by Country (2018-2022)
8.6.2 Middle East and Africa Grid Asset Management Revenue (USD Million) by Type (2018-2022)
8.6.3 Middle East and Africa Grid Asset Management Revenue (USD Million) by Applications (2018-2022)
9 Company Profiles
10 Global Grid Asset Management Market Revenue (USD Million), by Type, and Applications (2023-2030)
10.1 Global Grid Asset Management Revenue (USD Million) and Market Share (%) by Type (2023-2030)
10.1.1 Global Grid Asset Management Revenue (USD Million), and Market Share (%) by Type (2023-2030)
10.2 Global Grid Asset Management Revenue (USD Million) and Market Share (%) by Applications (2023-2030)
10.2.1 Global Grid Asset Management Revenue (USD Million), and Market Share (%) by Applications (2023-2030)
11 Global Grid Asset Management Development Regional Status and Outlook Forecast
11.1 Global Grid Asset Management Revenue (USD Million) By Regions (2023-2030)
11.2 North America Grid Asset Management Revenue (USD Million) by Type, and Applications (2023-2030)
11.2.1 North America Grid Asset Management Revenue (USD) Million by Country (2023-2030)
11.2.2 North America Grid Asset Management Revenue (USD Million), by Type (2023-2030)
11.2.3 North America Grid Asset Management Revenue (USD Million), Market Share (%) by Applications (2023-2030)
11.3 Europe Grid Asset Management Revenue (USD Million), by Type, and Applications (2023-2030)
11.3.1 Europe Grid Asset Management Revenue (USD Million), by Country (2023-2030)
11.3.2 Europe Grid Asset Management Revenue (USD Million), by Type (2023-2030)
11.3.3 Europe Grid Asset Management Revenue (USD Million), by Applications (2023-2030)
11.4 Asia Pacific Grid Asset Management Revenue (USD Million) by Type, and Applications (2023-2030)
11.4.1 Asia Pacific Grid Asset Management Revenue (USD Million), by Country (2023-2030)
11.4.2 Asia Pacific Grid Asset Management Revenue (USD Million), by Type (2023-2030)
11.4.3 Asia Pacific Grid Asset Management Revenue (USD Million), by Applications (2023-2030)
11.5 South America Grid Asset Management Revenue (USD Million), by Type, and Applications (2023-2030)
11.5.1 South America Grid Asset Management Revenue (USD Million), by Country (2023-2030)
11.5.2 South America Grid Asset Management Revenue (USD Million), by Type (2023-2030)
11.5.3 South America Grid Asset Management Revenue (USD Million), by Applications (2023-2030)
11.6 Middle East and Africa Grid Asset Management Revenue (USD Million), by Type, and Applications (2023-2030)
11.6.1 Middle East and Africa Grid Asset Management Revenue (USD Million), by region (2023-2030)
11.6.2 Middle East and Africa Grid Asset Management Revenue (USD Million), by Type (2023-2030)
11.6.3 Middle East and Africa Grid Asset Management Revenue (USD Million), by Applications (2023-2030)
12 Methodology and Data Sources
12.1 Methodology/Research Approach
12.1.1 Research Programs/Design
12.1.2 Market Size Estimation
12.1.3 Market Breakdown and Data Triangulation
12.2 Data Sources
12.2.1 Secondary Sources
12.2.2 Primary Sources
12.3 Disclaimer
List of Tables
Table 1 Market Segmentation Analysis
Table 2 Global Grid Asset Management Market Companies with Areas Served
Table 3 Products Offerings Global Grid Asset Management Market
Table 4 Low Growth Scenario Forecasts
Table 5 Reference Case Growth Scenario
Table 6 High Growth Case Scenario
Table 7 Global Grid Asset Management Revenue (USD Million) And CAGR (%) By Type (2018-2030)
Table 8 Global Grid Asset Management Revenue (USD Million) And CAGR (%) By Applications (2018-2030)
Table 9 Global Grid Asset Management Revenue (USD Million) And CAGR (%) By Regions (2018-2030)
Table 10 Global Grid Asset Management Revenue (USD Million) By Type (2018-2022)
Table 11 Global Grid Asset Management Revenue Market Share (%) By Type (2018-2022)
Table 12 Global Grid Asset Management Revenue (USD Million) By Applications (2018-2022)
Table 13 Global Grid Asset Management Revenue Market Share (%) By Applications (2018-2022)
Table 14 Global Grid Asset Management Market Revenue (USD Million) By Regions (2018-2022)
Table 15 Global Grid Asset Management Market Share (%) By Regions (2018-2022)
Table 16 North America Grid Asset Management Revenue (USD Million) By Country (2018-2022)
Table 17 North America Grid Asset Management Revenue (USD Million) By Type (2018-2022)
Table 18 North America Grid Asset Management Revenue (USD Million) By Applications (2018-2022)
Table 19 Europe Grid Asset Management Revenue (USD Million) By Country (2018-2022)
Table 20 Europe Grid Asset Management Revenue (USD Million) By Type (2018-2022)
Table 21 Europe Grid Asset Management Revenue (USD Million) By Applications (2018-2022)
Table 22 Asia Pacific Grid Asset Management Revenue (USD Million) By Country (2018-2022)
Table 23 Asia Pacific Grid Asset Management Revenue (USD Million) By Type (2018-2022)
Table 24 Asia Pacific Grid Asset Management Revenue (USD Million) By Applications (2018-2022)
Table 25 South America Grid Asset Management Revenue (USD Million) By Country (2018-2022)
Table 26 South America Grid Asset Management Revenue (USD Million) By Type (2018-2022)
Table 27 South America Grid Asset Management Revenue (USD Million) By Applications (2018-2022)
Table 28 Middle East and Africa Grid Asset Management Revenue (USD Million) By Region (2018-2022)
Table 29 Middle East and Africa Grid Asset Management Revenue (USD Million) By Type (2018-2022)
Table 30 Middle East and Africa Grid Asset Management Revenue (USD Million) By Applications (2018-2022)
Table 31 Financial Analysis
Table 32 Global Grid Asset Management Revenue (USD Million) By Type (2023-2030)
Table 33 Global Grid Asset Management Revenue Market Share (%) By Type (2023-2030)
Table 34 Global Grid Asset Management Revenue (USD Million) By Applications (2023-2030)
Table 35 Global Grid Asset Management Revenue Market Share (%) By Applications (2023-2030)
Table 36 Global Grid Asset Management Market Revenue (USD Million), And Revenue (USD Million) By Regions (2023-2030)
Table 37 North America Grid Asset Management Revenue (USD)By Country (2023-2030)
Table 38 North America Grid Asset Management Revenue (USD Million) By Type (2023-2030)
Table 39 North America Grid Asset Management Revenue (USD Million) By Applications (2023-2030)
Table 40 Europe Grid Asset Management Revenue (USD Million) By Country (2023-2030)
Table 41 Europe Grid Asset Management Revenue (USD Million) By Type (2023-2030)
Table 42 Europe Grid Asset Management Revenue (USD Million) By Applications (2023-2030)
Table 43 Asia Pacific Grid Asset Management Revenue (USD Million) By Country (2023-2030)
Table 44 Asia Pacific Grid Asset Management Revenue (USD Million) By Type (2023-2030)
Table 45 Asia Pacific Grid Asset Management Revenue (USD Million) By Applications (2023-2030)
Table 46 South America Grid Asset Management Revenue (USD Million) By Country (2023-2030)
Table 47 South America Grid Asset Management Revenue (USD Million) By Type (2023-2030)
Table 48 South America Grid Asset Management Revenue (USD Million) By Applications (2023-2030)
Table 49 Middle East and Africa Grid Asset Management Revenue (USD Million) By Region (2023-2030)
Table 50 Middle East and Africa Grid Asset Management Revenue (USD Million) By Region (2023-2030)
Table 51 Middle East and Africa Grid Asset Management Revenue (USD Million) By Type (2023-2030)
Table 52 Middle East and Africa Grid Asset Management Revenue (USD Million) By Applications (2023-2030)
Table 53 Research Programs/Design for This Report
Table 54 Key Data Information from Secondary Sources
Table 55 Key Data Information from Primary Sources
List of Figures
Figure 1 Market Scope
Figure 2 Porter’s Five Forces
Figure 3 Global Grid Asset Management Revenue (USD Million) By Type (2018-2022)
Figure 4 Global Grid Asset Management Revenue Market Share (%) By Type (2022)
Figure 5 Global Grid Asset Management Revenue (USD Million) By Applications (2018-2022)
Figure 6 Global Grid Asset Management Revenue Market Share (%) By Applications (2022)
Figure 7 Global Grid Asset Management Market Revenue (USD Million) By Regions (2018-2022)
Figure 8 Global Grid Asset Management Market Share (%) By Regions (2022)
Figure 9 North America Grid Asset Management Revenue (USD Million) By Country (2018-2022)
Figure 10 North America Grid Asset Management Revenue (USD Million) By Type (2018-2022)
Figure 11 North America Grid Asset Management Revenue (USD Million) By Applications (2018-2022)
Figure 12 Europe Grid Asset Management Revenue (USD Million) By Country (2018-2022)
Figure 13 Europe Grid Asset Management Revenue (USD Million) By Type (2018-2022)
Figure 14 Europe Grid Asset Management Revenue (USD Million) By Applications (2018-2022)
Figure 15 Asia Pacific Grid Asset Management Revenue (USD Million) By Country (2018-2022)
Figure 16 Asia Pacific Grid Asset Management Revenue (USD Million) By Type (2018-2022)
Figure 17 Asia Pacific Grid Asset Management Revenue (USD Million) By Applications (2018-2022)
Figure 18 South America Grid Asset Management Revenue (USD Million) By Country (2018-2022)
Figure 19 South America Grid Asset Management Revenue (USD Million) By Type (2018-2022)
Figure 20 South America Grid Asset Management Revenue (USD Million) By Applications (2018-2022)
Figure 21 Middle East and Africa Grid Asset Management Revenue (USD Million) By Region (2018-2022)
Figure 22 Middle East and Africa Grid Asset Management Revenue (USD Million) By Type (2018-2022)
Figure 23 Middle East and Africa Grid Asset Management Revenue (USD Million) By Applications (2018-2022)
Figure 24 Global Grid Asset Management Revenue (USD Million) By Type (2023-2030)
Figure 25 Global Grid Asset Management Revenue Market Share (%) By Type (2030)
Figure 26 Global Grid Asset Management Revenue (USD Million) By Applications (2023-2030)
Figure 27 Global Grid Asset Management Revenue Market Share (%) By Applications (2030)
Figure 28 Global Grid Asset Management Market Revenue (USD Million) By Regions (2023-2030)
Figure 29 North America Grid Asset Management Revenue (USD Million) By Country (2023-2030)
Figure 30 North America Grid Asset Management Revenue (USD Million) By Type (2023-2030)
Figure 31 North America Grid Asset Management Revenue (USD Million) By Applications (2023-2030)
Figure 32 Europe Grid Asset Management Revenue (USD Million) By Country (2023-2030)
Figure 33 Europe Grid Asset Management Revenue (USD Million) By Type (2023-2030)
Figure 34 Europe Grid Asset Management Revenue (USD Million) By Applications (2023-2030)
Figure 35 Asia Pacific Grid Asset Management Revenue (USD Million) By Country (2023-2030)
Figure 36 Asia Pacific Grid Asset Management Revenue (USD Million) By Type (2023-2030)
Figure 37 Asia Pacific Grid Asset Management Revenue (USD Million) By Applications (2023-2030)
Figure 38 South America Grid Asset Management Revenue (USD Million) By Country (2023-2030)
Figure 39 South America Grid Asset Management Revenue (USD Million) By Type (2023-2030)
Figure 40 South America Grid Asset Management Revenue (USD Million) By Applications (2023-2030)
Figure 41 Middle East and Africa Grid Asset Management Revenue (USD Million) By Region (2023-2030)
Figure 42 Middle East and Africa Grid Asset Management Revenue (USD Million) By Region (2023-2030)
Figure 43 Middle East and Africa Grid Asset Management Revenue (USD Million) By Type (2023-2030)
Figure 44 Middle East and Africa Grid Asset Management Revenue (USD Million) By Applications (2023-2030)
Figure 45 Bottom-Up and Top-Down Approaches for This Report
Figure 46 Data Triangulation
By Application
By Type
By End User
By Region