North America Grid Asset Management Market – Industry Trends and Forecast to 2030

The Grid Asset Management Market is experiencing robust expansion, with market size projected to increase from (3.6 Billion) 2024 to (8.5 Billion) 2030, demonstrating a consistent year-over-year growth rate of 10.2%. Grid Asset Management Market Size, Share, Competitive Landscape and Trend Analysis Report, by Types (Renewable Energy Assets, Generation Assets, Distribution Assets, Transmission Assets, Energy Storage Assets), by Applications (Utilities, Industrial, Commercial, Residential, Govement & Defense) , by Technology (Advanced Metering Infrastructure (AMI), Smart Grid Technology, Traditional Grid Technology, Distributed Energy Resources (DER) Management), by End-user (Private Sector, Energy Producers, Energy Distributors, Public Sector, Large Scale Consumers) And Regions (North America (United States, Canada, Mexico), South America (Brazil, Argentina, Chile, Rest of South America), Europe (Germany, France, Italy, United Kingdom, Benelux, Nordics, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, Southeast Asia, Rest of Asia-Pacific), MEA (Middle East, Africa)) : Industry Forecast and Opportunity Analysis for 2024 - 2030

Grid Asset Management refers to the entire range of solutions and services that utility companies and grid operators employ for the monitoring, maintenance, and optimisation of critical infrastructure assets over their performance and lifecycle. Assets entailed here consist of transmission lines, substations, transformers, meters, etc., which are indispensable for the generation, transmission, and distribution of electricity. Basically, effective grid asset management should aim at grid reliability and resilience, reduced operational cost, improved safety, and adherence to regulatory stipulations. Different technologies and approaches – such as data analytics, predictive maintenance, remote monitoring, and digital twins – are thus employed in looking at the health of assets, predicting failures that could arise, and undertaking decision-making on asset maintenance, repair, and replacement.

Grid Asset Management Report Highlights

Report Metrics	Details
Forecast period	2019-2030
Base Year Of Estimation	2024
Growth Rate	CAGR of 10.2%
Forecast Value (2030)	USD 8.5 Billion
By Product Type	Renewable Energy Assets, Generation Assets, Distribution Assets, Transmission Assets, Energy Storage Assets
Key Market Players	Inteational Business Machine Inc. Landis+Gyr AG Inc. ABB Group Schneider Electric SE Open Systems Inteational Itron Inc. General Electric Company Oracle Corporation Cisco Systems Siemens AG
By Region	North America (United States, Canada, Mexico) South America (Brazil, Argentina, Chile, Rest of South America) Europe (Germany, France, Italy, United Kingdom, Benelux, Nordics, Rest of Europe) Asia Pacific (China, Japan, India, South Korea, Australia, Southeast Asia, Rest of Asia-Pacific) MEA (Middle East, Africa)

Grid Asset Management Market Trends

Currently, the grid asset management market is experiencing a revolution with advanced technology solutions like IoT sensors, AI analytics, and digital twin platforms. With this innovation, utilities can closely monitor their essential facility performance and make real-time predictions that eventually lead to proactive maintenance and lower operational downtimes. Modernisation of grids stimulated by the otherwise decades-old infrastructure, integration of renewable sources of energy, and increasing electricity consumption have rapidly propelled the adoption of this technology. Furthermore, the changing energy systems into decentralisation and a much stronger grid resilience against climate variations may require utilities to have very good asset management."

Grid Asset Management Market Leading Players

The key players profiled in the report are Inc., Itron Inc., Inteational Business Machine, Cisco Systems, Landis+Gyr AG, Inc., ABB Group, Schneider Electric SE, Oracle Corporation, General Electric Company, Open Systems Inteational, Siemens AG

Growth Accelerators

The Grid Asset Management market is booming with great vigour owing to several aspects. The need for modernisation is considered the foremost aspect. In many areas, the infrastructure becomes too old and requires remodelling to increase reliability, reduce outages, and improve efficiency. Governments and utilities are investing abundant resources to modernise grids from the need for advanced asset management solutions that can monitor, maintain, and optimise grids. These modernisation initiatives are driven by renewable energy integration, which complicates the management of grids, as solar and wind energy power generation also goes intermittent and demands highly sophisticated asset management tools for grid stability. Then, regulatory support from the government and investments into resilience, making it easier to use energy-efficient and smarter grids, will greatly impact the market growth.

Grid Asset Management Market Segmentation analysis

The North America Grid Asset Management is segmented by Type, Application, and Region.
By Type, the market is divided into Distributed Renewable Energy Assets, Generation Assets, Distribution Assets, Transmission Assets, Energy Storage Assets . The Application segment categorizes the market based on its usage such as Utilities, Industrial, Commercial, Residential, Govement & Defense. Geographically, the market is assessed across key Regions like North America (United States, Canada, Mexico), South America (Brazil, Argentina, Chile, Rest of South America), Europe (Germany, France, Italy, United Kingdom, Benelux, Nordics, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, Southeast Asia, Rest of Asia-Pacific), MEA (Middle East, Africa) and others, each presenting distinct growth opportunities and challenges influenced by the regions.

Competitive Landscape

There is a fast-changing competitive environment in the Grid Asset Management Market with an ever-growing importance of players. They include a mixture of well-established technology providers, energy-industrial giants, and specialised software and service companies. The big key players are trying to gain market share by offering integrated data analytics, IoT, and AI-based predictive maintenance solutions. The forefront of competition is being defined by entities' capability to develop scalable, secure, and interoperable platforms in the management of diverse and ageing infrastructure of the power grid. On top of this, there is also a push for solutions that facilitate renewable energy integration, protect the grid from cyber and natural threats, and keep up with changing regulatory requirements. Companies that seek both service and geographical expansion are forging strategic alliances, mergers, and acquisitions.

Challenges In Grid Asset Management Market

There are several challenges that the grid asset management market can incur. A high upfront cost is the main barrier to advanced asset management technology implementation, which includes predictive analytics and other IoT-enabled solutions. Utilities have budget limitations that often restrict their financial capacity to augment legacy systems and infrastructure. Integrating new technologies with legacy ones is a technical challenge that requires expertise and resources. Another essential challenge lies in increased cyber threats based on the grid management systems that are amalgamated and digital-based in their processes. Thus, utilities require additional cost investment to guarantee that they have strong security measures for data protection and operations continuity against disruptions. In addition, due to the skills gap among the available workforce, implementing modern technologies will be less as the number of trained professionals who can efficiently operate and maintain new grid asset management systems is short. These problems make economic uncertainties and public resistance toward modernisation efforts high, creating barriers to growth for the market.

Risks & Prospects in Grid Asset Management Market

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Key Target Audience

As a matter of fact, this segment consists of a target group of utility companies, energy grid operators, and power utilities that make use of solutions for reliable, efficient, and resilient power systems. On this basis, these customers increasingly resort to high-end innovative technologies like IoT, artificial intelligence (AI), and predictive analytics for real-time monitoring, fault detection, and pre-emptive maintenance of city grid assets. Notable other target groups are industrial and commercial facilities as well as government entities working on grid modernisation initiatives. Therefore, they benefit from improved stability of the grid and integration of renewable energy sources through the application of asset management tools. Riding along with the growing market at a CAGR of 10.9% from 2023 to 2028, this demand is primarily driven by the increase in electricity demand and the adoption of renewable energy sources. However, the challenges multilayered with high costs of implementation and risks related to cybersecurity require a concerted effort on the part of utilities and technology vendors in collaboration with research institutions.

Merger and acquisition

Recent mergers and acquisitions in the grid asset management sector suggest a strategic shift aimed at bolstering core infrastructure and renewable energy capabilities. Of note, early in 2025, National Grid agreed to sell its U.S. onshore renewables to Brookfield Asset Management for $1.74 billion. This allows National Grid to concentrate on its core energy network business, while Brookfield continues to build its renewable energy portfolio with 1.8 gigawatts of operating capacity and 1.3 gigawatts under construction in the U.S. In another important development, Spanish utility Iberdrola acquired an 88% stake in Electricity North West in the UK for approximately €5 billion. This purchase is in line with Iberdrola's strategy to invest in regulated grid assets, thus raising its regulated asset base in the UK to around €14 billion. Such investment is crucial in supporting the electrification and decarbonisation effort.