According to Cognitive Market Research, the global smart grid market size is USD 43581.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 18.00% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 17432.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 13074.36 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 35539.7 million in 2024 and will grow at a compound annual growth rate (CAGR) of 20.0% from 2024 to 2031.
Latin America had a market share for more than 5% of the global revenue with a market size of USD 2179.06 million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 871.62 million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.7% from 2024 to 2031.
The distribution held the highest smart grid market revenue share in 2024.
