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Smart Energy Market - Global Industry Analysis

Smart Energy Market by Product (Smart Grid, Digital Oilfield, Smart Solar and Home Energy Management System), by End Use (Residential, Industrial and Commercial): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Published Date: 07-Sep-2021 Category: Energy & Mining Report Format : PDF Pages: 120 Report Code: ZMR-6351 Status : Published

The smart energy market accounted for USD 130.1 Billion in 2020 and is expected to reach USD 273.8 Billion by 2028, growing at a CAGR of 9.9 % from 2021 to 2028.

Description

Smart Energy Market Overview

The smart energy market accounted for USD 130.1 Billion in 2020 and is expected to reach USD 273.8 Billion by 2028, growing at a CAGR of 9.9 % from 2021 to 2028.

Smart energy is nothing but a process of using devices for energy efficiency. It majorly focuses on sustainable and powerful renewable sources of energy that encourage eco-friendliness and minimize the cost. It integrates different energy infrastructures and has the potential to serve a wide range of end-users. Smart energy is a cost-effective, sustainable, and secure energy system, which focuses on sustainable energy production while reducing the production cost.

COVID-19 Impact Analysis

As due to the COVID 19 pandemic, majorly every industry was shut for a significant amount of time. The smart energy market has also been severely impacted by the outbreak of COVID-19 across the world. The market witnessed a large fall in demand from manufacturing and production centres, due to a sizable amount of shutdown within the industrial sector. But, shifting trends toward work from home norms and growing energy demand from residential sectors will foster the smart energy market growth. Nonetheless, social distancing norms and lockdown measures across the world led to supply chain disruption within the smart energy market.

Growth Factors

The global smart energy market is growing at an exponential rate.  The smart energy systems allow the user to match supply & demand and integrate more renewable sources of energy including solar and wind into the system. This allows creating energy to emit less carbon dioxide into the atmosphere and make less pollution. The increase in environmental concerns, growing necessity for renewable energy sources, and growing investments in smart energy systems are a number of the crucial factors that are primarily spurring the expansion of the worldwide market. Additionally, there's an enormous investment in smart grid technology as several benefits are related to it. This includes lower peak demand, which aids lower electricity rates, and many more.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Product Segment Analysis Preview

The smart grid segment held a share of over 34 % in 2020. The smart grid accounts for a sizable portion of revenue. A smart grid is an electricity network/grid that allows for a two-way flow of electricity and data, with smart metering being a common first step. This is due to an increase in demand for dynamic or real-time pricing, as well as the use of distributed energy systems in both residential and commercial settings.

End Use Segment Analysis Preview

Due to a surge in demand for smart energy in energy-intensive industrial sectors, where the smart energy system helps to decrease energy costs and improve the company's ecological profile, and feedback scheduling, the industrial sector accounted for the biggest revenue share and market growth.

Regional Analysis Preview

The North America region is projected to grow at a CAGR of 9.1 % over the forecast period. The presence of a large number of market players is also going to contribute significantly towards the growth of the smart energy market in the region. North America is a technologically advanced region, which means the adoption rate of any new technology is very high in the region. During the forecast period, North America is expected to lead the worldwide smart energy market and account for the largest revenue share. Though the majority of the organizations have already recognised the need for the smart energy market and are using the same as well. The existence of advanced technology, increased investments in smart grid technology, and growing worries about carbon emissions are all factors contributing to the market's growth in this region.

Asia pacific is expected to be growing significantly for the smart energy market. The developing region has witnessed a rise in the usage of technology. As the population here becomes more aware of the need to adopt smart energy, the demand for smart energy will be boosted over the next few years. Also, awareness of the government towards the technology advancement will add to the growth of the market in the region. This is due to the increasing use of smart energy gadgets, a shift toward renewable energy sources, and increased environmental concerns.

Key Market Players & Competitive Landscape

Some of the key players in the smart energy market are ABB Ltd., Siemens AG, Landis+Gyr AG, S&T Smart Energy GmbH, Robert Bosch GmbH, Larsen and Toubro Ltd., Itron Inc., Honeywell International Inc., General Electric Co., and International Business Machines Corp., among others.

These companies adopt various strategies in order to boost their presence and capitalization.

The smart energy market is segmented as follows:    

 By Product

  • Smart Grid
  • Digital Oilfield
  • Smart Solar
  • Home Energy Management System

 By End Use

  •  Residential
  •  Industrial
  • Commercial

   By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Product
        • 2.1.1.2. Market Attractiveness Analysis, By End Use
        • 2.1.1.3. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Smart Energy Market, 2016 – 2020 (USD Million)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Smart Energy Market – Product Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Product, 2020 & 2028
    • 4.2. Smart Grid
      • 4.2.1. Market Size and Forecast, By Region (USD Million)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Digital Oilfield
      • 4.3.1. Market Size and Forecast, By Region (USD Million)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Smart Sular
      • 4.4.1. Market Size and Forecast, By Region (USD Million)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Home Energy Management System
      • 4.5.1. Market Size and Forecast, By Region (USD Million)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Smart Energy Market – End Use Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By End Use, 2020 & 2028
    • 5.2. Residential
      • 5.2.1. Market Size and Forecast, By Region (USD Million)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Industrial
      • 5.3.1. Market Size and Forecast, By Region (USD Million)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.4. Commercial
      • 5.4.1. Market Size and Forecast, By Region (USD Million)
      • 5.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 6 Smart Energy Market – Regional Analysis
    • 6.1. Overview
      • 6.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 6.1.2. Global Market Revenue, By Region, 2016 – 2020 (USD Million)
    • 6.2. North America
      • 6.2.1. North America Market Revenue, By Country, 2016 – 2020 (USD Million)
      • 6.2.2. North America Market Revenue, By Product, 2016 – 2020
      • 6.2.3. North America Market Revenue, By End Use, 2016 – 2020
      • 6.2.4. U.S.
        • 6.2.4.1. U.S. Market Revenue, By Product, 2016 – 2020
        • 6.2.4.2. U.S. Market Revenue, By End Use, 2016 – 2020
      • 6.2.5. Canada
        • 6.2.5.1. Canada Market Revenue, By Product, 2016 – 2020
        • 6.2.5.2. Canada Market Revenue, By End Use, 2016 – 2020
      • 6.2.6. Mexico
        • 6.2.6.1. Mexico Market Revenue, By Product, 2016 – 2020
        • 6.2.6.2. Mexico Market Revenue, By End Use, 2016 – 2020
    • 6.3. Europe
      • 6.3.1. Europe Market Revenue, By Country, 2016 – 2020 (USD Million)
      • 6.3.2. Europe Market Revenue, By Product, 2016 – 2020
      • 6.3.3. Europe Market Revenue, By End Use, 2016 – 2020
      • 6.3.4. Germany
        • 6.3.4.1. Germany Market Revenue, By Product, 2016 – 2020
        • 6.3.4.2. Germany Market Revenue, By End Use, 2016 – 2020
      • 6.3.5. France
        • 6.3.5.1. France Market Revenue, By Product, 2016 – 2020
        • 6.3.5.2. France Market Revenue, By End Use, 2016 – 2020
      • 6.3.6. U.K.
        • 6.3.6.1. U.K. Market Revenue, By Product, 2016 – 2020
        • 6.3.6.2. U.K. Market Revenue, By End Use, 2016 – 2020
      • 6.3.7. Italy
        • 6.3.7.1. Italy Market Revenue, By Product, 2016 – 2020
        • 6.3.7.2. Italy Market Revenue, By End Use, 2016 – 2020
      • 6.3.8. Spain
        • 6.3.8.1. Spain Market Revenue, By Product, 2016 – 2020
        • 6.3.8.2. Spain Market Revenue, By End Use, 2016 – 2020
      • 6.3.9. Rest of Europe
        • 6.3.9.1. Rest of Europe Market Revenue, By Product, 2016 – 2020
        • 6.3.9.2. Rest of Europe Market Revenue, By End Use, 2016 – 2020
    • 6.4. Asia Pacific
      • 6.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2020 (USD Million)
      • 6.4.2. Asia Pacific Market Revenue, By Product, 2016 – 2020
      • 6.4.3. Asia Pacific Market Revenue, By End Use, 2016 – 2020
      • 6.4.4. China
        • 6.4.4.1. China Market Revenue, By Product, 2016 – 2020
        • 6.4.4.2. China Market Revenue, By End Use, 2016 – 2020
      • 6.4.5. Japan
        • 6.4.5.1. Japan Market Revenue, By Product, 2016 – 2020
        • 6.4.5.2. Japan Market Revenue, By End Use, 2016 – 2020
      • 6.4.6. India
        • 6.4.6.1. India Market Revenue, By Product, 2016 – 2020
        • 6.4.6.2. India Market Revenue, By End Use, 2016 – 2020
      • 6.4.7. South Korea
        • 6.4.7.1. South Korea Market Revenue, By Product, 2016 – 2020
        • 6.4.7.2. South Korea Market Revenue, By End Use, 2016 – 2020
      • 6.4.8. South-East Asia
        • 6.4.8.1. South-East Asia Market Revenue, By Product, 2016 – 2020
        • 6.4.8.2. South-East Asia Market Revenue, By End Use, 2016 – 2020
      • 6.4.9. Rest of Asia Pacific
        • 6.4.9.1. Rest of Asia Pacific Market Revenue, By Product, 2016 – 2020
        • 6.4.9.2. Rest of Asia Pacific Market Revenue, By End Use, 2016 – 2020
    • 6.5. Latin America
      • 6.5.1. Latin America Market Revenue, By Country, 2016 – 2020 (USD Million)
      • 6.5.2. Latin America Market Revenue, By Product, 2016 – 2020
      • 6.5.3. Latin America Market Revenue, By End Use, 2016 – 2020
      • 6.5.4. Brazil
        • 6.5.4.1. Brazil Market Revenue, By Product, 2016 – 2020
        • 6.5.4.2. Brazil Market Revenue, By End Use, 2016 – 2020
      • 6.5.5. Argentina
        • 6.5.5.1. Argentina Market Revenue, By Product, 2016 – 2020
        • 6.5.5.2. Argentina Market Revenue, By End Use, 2016 – 2020
      • 6.5.6. Rest of Latin America
        • 6.5.6.1. Rest of Latin America Market Revenue, By Product, 2016 – 2020
        • 6.5.6.2. Rest of Latin America Market Revenue, By End Use, 2016 – 2020
    • 6.6. The Middle-East and Africa
      • 6.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2020 (USD Million)
      • 6.6.2. The Middle-East and Africa Market Revenue, By Product, 2016 – 2020
      • 6.6.3. The Middle-East and Africa Market Revenue, By End Use, 2016 – 2020
      • 6.6.4. GCC Countries
        • 6.6.4.1. GCC Countries Market Revenue, By Product, 2016 – 2020
        • 6.6.4.2. GCC Countries Market Revenue, By End Use, 2016 – 2020
      • 6.6.5. South Africa
        • 6.6.5.1. South Africa Market Revenue, By Product, 2016 – 2020
        • 6.6.5.2. South Africa Market Revenue, By End Use, 2016 – 2020
      • 6.6.6. Rest of Middle-East Africa
        • 6.6.6.1. Rest of Middle-East Africa Market Revenue, By Product, 2016 – 2020
        • 6.6.6.2. Rest of Middle-East Africa Market Revenue, By End Use, 2016 – 2020
  • Chapter No. 7 Smart Energy Market – Industry Analysis
    • 7.1. Introduction
    • 7.2. Market Drivers
      • 7.2.1. Driving Factor 1 Analysis
      • 7.2.2. Driving Factor 2 Analysis
    • 7.3. Market Restraints
      • 7.3.1. Restraining Factor Analysis
    • 7.4. Market Opportunities
      • 7.4.1. Market Opportunity Analysis
    • 7.5. Porter’s Five Forces Analysis
    • 7.6. PEST Analysis
    • 7.7. Regulatory Landscape
    • 7.8. Technology Landscape
    • 7.9. Regional Market Trends
      • 7.9.1. North America
      • 7.9.2. Europe
      • 7.9.3. Asia Pacific
      • 7.9.4. Latin America
      • 7.9.5. The Middle-East and Africa
    • 7.10. Pricing Analysis
    • 7.11. Value Chain Analysis
    • 7.12. Downstream Buyers
    • 7.13. Distributors/Traders List
  • Chapter No. 8 Competitive Landscape
    • 8.1. Company Market Share Analysis – 2019
      • 8.1.1. Global Smart Energy Market: Company Market Share, 2019
      • 8.1.2. Global Smart Energy Market, Company Market Revenue, 2016 – 2019 (USD Million)
      • 8.1.3. Global Smart Energy Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 8.1.4. Global Smart Energy Market: Radar Determinant Chart, 2019
    • 8.2. Strategic Developments
      • 8.2.1. Acquisitions & Mergers
      • 8.2.2. New Product Launch
      • 8.2.3. Regional Expansion
    • 8.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 9 Company Profiles
    • 9.1. ABB Ltd.
      • 9.1.1. Company Overview
      • 9.1.2. Key Executives
      • 9.1.3. Product Portfolio
      • 9.1.4. Financial Overview
      • 9.1.5. Operating Business Segments
      • 9.1.6. Business Performance
      • 9.1.7. Recent Developments
    • 9.2. Siemens AG
    • 9.3. Landis+Gyr AG
    • 9.4. S&T Smart Energy GmbH
    • 9.5. Robert Bosch GmbH
    • 9.6. Larsen and Toubro Ltd.
    • 9.7. Itron Inc.
    • 9.8. Honeywell International Inc.
    • 9.9. General Electric Co.
    • 9.10. International Business Machines Corp.
  • Chapter No. 10 Marketing Strategy Analysis
    • 10.1. Marketing Channel
    • 10.2. Direct Marketing
    • 10.3. Indirect Marketing
    • 10.4. Marketing Channel Development Trends
    • 10.5. Economic/Pulitical Environmental Change
  • Chapter No. 11 Research Methodology
    • 11.1. Research Methodology
    • 11.2. Phase I - Secondary Research
    • 11.3. Phase II - Data Modeling
      • 11.3.1. Company Share Analysis Model
      • 11.3.2. Revenue Based Modeling
    • 11.4. Phase III - Primary Research
    • 11.5. Research Limitations
      • 11.5.1. Assumptions

Methodology


Frequently Asked Questions

The smart energy market was valued at 130.1 USD Billion in 2020.
The smart energy market is expected to reach USD 273.8 Billion by 2028, growing at a CAGR of 9.9 % between 2021 to 2028.
Some of the key factors driving the smart energy market growth are, increase in environmental concerns, growing necessity for renewable energy sources, and growing investments in smart energy systems are a number of the crucial factors that are primarily spurring the expansion of the worldwide market.

The North America region held a substantial share of the market in 2020. The existence of advanced technology, increased investments in smart grid technology, and growing worries about carbon emissions are all factors contributing to the market's growth in this region.

Some of the major companies operating in the smart energy market are ABB Ltd., Siemens AG, Landis+Gyr AG, S&T Smart Energy GmbH, Robert Bosch GmbH, Larsen and Toubro Ltd., Itron Inc., Honeywell International Inc., General Electric Co., and International Business Machines Corp., among others.

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