Self-Healing Grid Global Market Report 2024

The global self-healing grid market has grown strongly in recent years. It will grow from $2.12 billion in 2023 to $2.33 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. In the historic period, the growth of self-healing grids was driven by several factors including the early adoption for pilot projects, initiatives focusing on grid modernization by governments, regulatory policies, utilities prioritizing system efficiency, increasing demand for grid reliability, and a noticeable uptick in grid outages frequency.

The global self-healing grid market is expected to see rapid growth in the next few years. It will grow to $3.43 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. In the forecast period, the growth of self-healing grids is expected due to rising investments in cybersecurity solutions, the emergence of advanced control algorithms, a focus on grid modernization initiatives, and the expanding integration of renewable energy sources. Key trends anticipated in this period include collaborative efforts and standardization, advancements in grid automation, the incorporation of AI and predictive analytics, the development of distributed energy resources (DERs), improvements in communication and control systems, and advancements in edge computing and IoT technologies.

The self-healing grid market is anticipated to experience growth due to the increasing adoption of clean energy sources such as wind and solar. Clean energy sources are renewable and emit no emissions during usage. As the production and adoption of clean energy sources, especially solar photovoltaic (PV), witness substantial growth, the demand for self-healing grids becomes essential. A report published by the International Energy Agency in December 2021 highlights that nearly 95% of the projected global power capacity growth until 2026 is expected to be driven by renewables, with solar PV contributing more than half of this expansion. The surge in renewable capacity during this period is forecasted to be 50% greater than the growth observed from 2015 to 2020. Consequently, the increasing adoption of clean energy sources, including wind and solar, is a driving force for the self-healing grid market.

The rise in energy demand is poised to contribute to the growth of the self-healing grid market. Energy demand refers to the total amount of energy needed by specific regions, sectors, communities, or individuals within a given period. The increasing energy demand poses challenges for conventional grid systems, leading to a growing need for resilient, disruption-minimizing, and operationally optimized power grids. This trend aligns with broader developments in energy consumption and grid modernization. According to an April 2023 report from the Energy Information Administration, the United States is expected to experience a growth in energy consumption ranging from 0% to 15% from 2022 to 2050. Within the industrial sector, energy consumption is projected to increase by 5% to 32% during the same period. The increasing energy demand, particularly in sectors like industry, is a key driver for the self-healing grid market.

Investments in smart grids represent a significant trend gaining traction in the self-healing grids market. Major companies in the self-healing grids market are directing investments towards the development of smart grids to enhance their market position. In November 2021, DTE Energy Co., a US-based company operating in the self-healing grids space, invested USD 7 billion in a smarter and more reliable grid for Michiganders. This strategic investment focuses on various aspects, including self-healing circuits, pole maintenance, increased automation, tree trimming, and modernizing the grid's old infrastructure. The emphasis on smart grids reflects a commitment to technological advancements and the overall modernization of power distribution systems.

Major companies in the self-healing grid market are embracing a strategic partnership approach to advance smart grid resiliency and global electrification efforts. This approach involves leveraging each other's strengths and resources for mutual benefits and success. For example, in March 2022, Analog Devices Inc., a US-based semiconductor manufacturing company, entered into a strategic partnership with Gridspertise, an Italy-based provider of sustainable solutions for power grids. This collaboration aims to develop new hardware and software to support the self-healing and adaptive capabilities of distribution grids, responding to shifts in energy supply and demand driven by the integration of renewable sources. ADI and Gridspertise's partnership focuses on enhancing measurement and monitoring precision, utilizing real-time data to achieve superior grid reliability. This results in quicker response times, increased resilience, and improved service quality for customers, enabling utilities to enhance operational efficiency and transition swiftly to cleaner energy sources. These technologies are adaptable to diverse legacy infrastructures, eliminating the need for costly rebuilds and contributing to minimizing the environmental impact of assets.

In August 2023, GE Vernova, a US-based energy company, solidified its commitment to sustainable energy grids by acquiring Greenbird Integration Technology AS for an undisclosed amount. This strategic acquisition enhances GE Vernova's GridOS software portfolio tailored for grid orchestration. The acquired platform will introduce additional features to GridOS, streamlining system connectivity and enabling seamless data integration across the grid on a larger scale. This acquisition reinforces GE Vernova's dedication to investing in technologies and talent that advance sustainable energy grids. Dive Technologies, the acquired company, is based in Norway and operates in the self-healing grid market.

Major companies operating in the self-healing grid market report are Siemens AG, General Electric Company, S & C Electric Company, Eaton Corporation PLC, Schneider Electric SE, Oracle Corporation, Landis+Gyr Corporation, Itron Inc., Sprecher Automation GmbH, Georgia Power Co., Eastern Green Power Pte Ltd., EnergyTech Global Pvt. Ltd., Hitachi Ltd., Open Systems International Inc., Det Norske Veritas Germanischer Lloyd, ABB Ltd., Aclara Technologies LLC, Cisco Systems Inc., International Business Machines Corporation, Wipro Limited, Sentient Energy Inc., Infosys Limited, G&W Electric Company, Alectra Utilities Corporation, Honeywell International Inc., C3.ai Inc., Power Analytics Corporation, Utilidata Inc., Varentec Inc., Enel X North America Inc., Opus One Solutions Energy Corporation, Advanced Microgrid Solutions Inc., Blue Pillar Inc., Powerhive Inc., Spirae LLC, Gridco Systems Inc., Autogrid Systems Inc., CleanSpark Inc., Grid4C Inc., Smarter Grid Solutions Inc.

North America was the largest region in the self-healing grid market share in 2023. The regions covered in the self-healing grid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the self-healing grid market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Key components of a self-healing grid include hardware, software, and services. Hardware comprises the mechanical and electronic elements of the system, distinct from its software components. These grids find applications in transmission lines and distribution lines, serving both public and private utility sectors.

This report provides self-healing grid market statistics, including self-healing grid industry global market size, regional shares, competitors with a self-healing grid market share, detailed self-healing grid market segments, market trends and opportunities, and any further data you may need to thrive in the self-healing grid industry. This self-healing grid market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The self-healing grid market consists of revenues earned by entities by providing services such as advanced distribution management systems (ADMS), fault location isolation and service restoration(FLISR) services. The market value includes the value of related goods sold by the service provider or included within the service offering. The self-healing grid market also includes sales of electric network, digital control appliance, and intelligent monitoring system which are used in providing self-healing grid services. 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.

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.


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