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Smart grids worldwide - statistics & facts

The increased electrification of a variety of sectors , including transportation, heating, and cooking, is set to be a crucial part of the energy transition in the coming decades. Combined with a growing global population, electricity generation worldwide is expected to double by 2050. Smart grids are multi-directional networks that allow the exchange of real-time information between suppliers and users. Their implementation - through the deployment of technologies such as smart meters and energy storage – will be an important factor in guaranteeing an efficient and stable electricity supply. The global smart grid market was estimated at 37 billion U.S. dollars in 2021.

Smart metering

Smart electricity meters can transmit consumption information to utilities in real-time. For users, this translates to more accurate energy billing and conscious energy-use. For suppliers, it gives a better understanding of peaks in demand, allowing for a more efficient planning of supply. The global smart electricity meters market value is forecast to grow by almost 45 percent between 2020 and 2026. By the end of 2019, some 100 million smart electricity meters had already been deployed in the U.S, while smart meters in Great Britain reached some 23 million units in 2021.

Grid storage

Renewable sources – led by wind and solar – are expected to become the largest source of electricity generation worldwide by 2050. Since the power output from renewable sources is intermittent , large-scale energy storage technologies will be crucial for filling the demand gap when production is low. While global energy storage capacity stood at some 29 terawatt hours in 2020, this figure is expected to skyrocket in the coming decade, to reach 740 terawatt hours in 2030. Pumped hydropower is one of the most common types of utility-scale storage currently in use. However, other technologies such as thermal storage, hydrogen, and particularly batteries have recently gained a lot of attention. In 2021, investments in grid battery storage worldwide added up to roughly five billion U.S. dollars.

EV infrastructure

The past years have seen a boom in the number of electric vehicles in circulation, and along with it, in the number of electric vehicle chargers worldwide. With these figures set to continue increasing, so will the strain on the global power grid. EV infrastructure is a perfect example of the importance of smart grids to the future of electricity supply. Through the monitoring and controlling of consumption, combined with pricing incentives for EV charging during off-peak hours, smart grids can help prevent the overload of transmission and distribution lines, while guaranteeing the growing demand is met.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Feb 8, 2023

Key insights

Smart grid technology market size
36.9bn USD
Smart grid cyber security market
4.73bn USD
Global investment in electricity networks
257bn USD
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Editor’s Picks Current statistics on this topic

Projected electricity generation worldwide in 2020 with a forecast to 2050, by energy source (in 1,000 terawatt-hours)

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Global outlook on electricity generation 2020-2050, by energy source

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Public EVSE chargers by country and type 2021

Capacity of pumped storage hydropower worldwide in 2021, by leading country (in megawatts)

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Global pumped storage capacity 2021, by leading country

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