Global Smart Energy Market to reach USD XXXX billion by 2025. Global Smart Energy Market valued approximately USD XXX billion in 2017 is anticipated to grow with a healthy growth rate of 15 % over the forecast period 2018-2025. The emergence of distributed energy sources is considered as a key trend for the smart energy market over the forecast period. It plays a vital role in smart energy and can be deployed to meet regular demand for power & energy. Moreover, rising deployment of smart grid technologies is expected to create lucrative growth opportunities for the global smart energy market over the forecast period of 2018-2025.
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The smart energy market is significantly driven by the increasing investments in smart grid technologies. Since, smart grids introduces a different set of protocols and increased emphasis on renewable energy in the energy mix of countries around the world. According to the Smart America Organization, United States government would invest approximately $41 trillion over the next 20 years with an aim to upgrade their smart-grid infrastructure. Through this investment, United States government aims to create environmental sustainability and enhance the quality of life for its citizen. Similarly, as per the China Electricity Council, by 2020, Chinese government plans to construct three major transmission lines, each expected to reach 20GW of transmission capacity, promoting adoption of smart grid technology in the country. In 2015, the government of China invested around $101 billion and these funds are dedicated to developing smart grid technology. However, high cost of upgrading smart grids is expected to hinder the growth of the smart energy market during the forecast period.
On the basis of segmentation, the Smart Energy market is segmented into type and end-user. The type segment of Smart Energy market is classified into smart grid, home energy management systems (HEMS), smart solar, digital oilfield and others of which smart grid segment dominates the market owing to the increase in implementation smart grids across the globe. On the basis of end-user segment, the market is bifurcated into commercial sector, residential sector and industrial sector of which commercial segment is expected to dominate the market owing to the increasing demand of energy.
The regional analysis of smart energy market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America and ROW. North America dominates the Smart Energy market owing to the increase in the implementation of smart grids. Also, U.S. is considered as a leader in adoption of smart grid and related technologies. Whereas, Asia-Pacific is anticipated to emerge as the fastest growing market region during the forecast period 2018-2025 owning to government initiatives to promote renewable energy along with the increasing demand of energy.
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The leading market players include-
ABB LTD ,GE Energy ,Itron , Landis + Gyr, Sensus , S&T , Siemens , Bosch , LG-Chem , Solar Grid Storage LLC
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
- Smart Grid
- Digital Oilfield
- Smart solar
- Home energy management systems (HEMs)
- Commercial Sector
- Residential Sector
- Industrial Sector
- North America
- Asia Pacific
Furthermore, years considered for the study are as follows:
- Historical year 2015, 2016
- Base year 2017
- Forecast period 2018 to 2025
Target Audience of the Global Smart Energy Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers
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