PUBLISHER: IMARC | PRODUCT CODE: 1298849
PUBLISHER: IMARC | PRODUCT CODE: 1298849
Smart Energy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global smart energy market size reached US$ 151.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 253.0 Billion by 2028, exhibiting a growth rate (CAGR) of 8.3% during 2023-2028.
Smart energy refers to a sustainable energy management solution that utilizes energy-efficient, renewable and the Internet of Things (IoT)-integrated systems and devices. It involves smart electricity, gas, solar and thermal grids and home energy management systems that use distributed generation systems, meters and modules for one-way or two-way communications. These solutions are used for collecting and storing data that are further transmitted to computers, laptops, smartphones and power line carriers. Smart energy systems enable the consumers to monitor and vary their energy demands and reduce emission rates. They also aid in reducing aggregate transmission and commercial energy losses while preventing disconnection, eliminating inefficiencies in billing and minimizing re-connection costs. As a result, smart energy is widely used for residential, industrial and commercial applications.
Smart Energy Market Trends:
The increasing deployment of smart grid technologies is one of the key factors driving the growth of the market. Moreover, the rising demand for efficient energy solutions is providing a thrust to the market growth. Smart energy solutions provide accurate readings regarding the energy consumption to the users and can aid in remote monitoring of sub-meters to prevent power outages. In line with this, the widespread adoption of advanced metering solutions, instrumentation, network infrastructure and network management software, especially in the developing economies, is also contributing to the growth of the market. These solutions are integrated with workforce and mobile management systems and distribution automation solutions for enhanced operational efficiency. Additionally, the increasing focus on rural electrification and the rising utilization of smart meters for automatic control of electricity, light and energy to minimize wastage are also favoring the market growth. Other factors, including the implementation of favorable government policies to promote the utilization of renewable energy resources, along with extensive infrastructural development, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart energy market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, product and end use sector.
Breakup by Component:
Hardware and Equipment
Solution and Service
Breakup by Product:
Smart Grid
Digital Oilfield
Smart Solar
Home Energy Management System
Breakup by End Use Sector:
Residential
Industrial
Commercial
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., General Electric Company, Honeywell International Inc., International Business Machines Corporation, Itron Inc., Landis+Gyr AG, Larsen & Toubro Limited, Robert Bosch GmbH, S&T AG, Schneider Electric SE, Sensus (Xylem Inc.) and Siemens AG.
Key Questions Answered in This Report
1. What was the size of the global smart energy market in 2022?
2. What is the expected growth rate of the global smart energy market during 2023-2028?
3. What are the key factors driving the global smart energy market?
4. What has been the impact of COVID-19 on the global smart energy market?
5. What is the breakup of the global smart energy market based on the product?
6. What is the breakup of the global smart energy market based on the end use sector?
7. What are the key regions in the global smart energy market?
8. Who are the key players/companies in the global smart energy market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Smart Energy Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Component
- 6.1 Hardware and Equipment
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Solution and Service
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Product
- 7.1 Smart Grid
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Digital Oilfield
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Smart Solar
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Home Energy Management System
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
8 Market Breakup by End Use Sector
- 8.1 Residential
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Industrial
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Commercial
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 ABB Ltd.
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 General Electric Company
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 Financials
- 14.3.2.4 SWOT Analysis
- 14.3.3 Honeywell International Inc.
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 Financials
- 14.3.3.4 SWOT Analysis
- 14.3.4 International Business Machines Corporation
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.4.4 SWOT Analysis
- 14.3.5 Itron Inc.
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.5.3 Financials
- 14.3.5.4 SWOT Analysis
- 14.3.6 Landis+Gyr AG
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.7 Larsen & Toubro Limited
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.7.3 Financials
- 14.3.7.4 SWOT Analysis
- 14.3.8 Robert Bosch GmbH
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 SWOT Analysis
- 14.3.9 S&T AG
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.10 Schneider Electric SE
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.10.4 SWOT Analysis
- 14.3.11 Sensus (Xylem Inc.)
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.11.3 SWOT Analysis
- 14.3.12 Siemens AG
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.12.3 Financials
- 14.3.12.4 SWOT Analysis
- 14.3.1 ABB Ltd.
List of Figures
- Figure 1: Global: Smart Energy Market: Major Drivers and Challenges
- Figure 2: Global: Smart Energy Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Smart Energy Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Smart Energy Market: Breakup by Component (in %), 2022
- Figure 5: Global: Smart Energy Market: Breakup by Product (in %), 2022
- Figure 6: Global: Smart Energy Market: Breakup by End Use Sector (in %), 2022
- Figure 7: Global: Smart Energy Market: Breakup by Region (in %), 2022
- Figure 8: Global: Smart Energy (Hardware and Equipment) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 9: Global: Smart Energy (Hardware and Equipment) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 10: Global: Smart Energy (Solution and Service) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: Smart Energy (Solution and Service) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: Global: Smart Energy (Smart Grid) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: Smart Energy (Smart Grid) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: Smart Energy (Digital Oilfield) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: Smart Energy (Digital Oilfield) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: Smart Energy (Smart Solar) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: Smart Energy (Smart Solar) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: Smart Energy (Home Energy Management System) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: Smart Energy (Home Energy Management System) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: Smart Energy (Residential) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: Smart Energy (Residential) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Global: Smart Energy (Industrial) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Global: Smart Energy (Industrial) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: Global: Smart Energy (Commercial) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: Global: Smart Energy (Commercial) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: North America: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: North America: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: United States: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: United States: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: Canada: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: Canada: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: Asia-Pacific: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: Asia-Pacific: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: China: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: China: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: Japan: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: Japan: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: India: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: India: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: South Korea: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: South Korea: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: Australia: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: Australia: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: Indonesia: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: Indonesia: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 46: Others: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 47: Others: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 48: Europe: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 49: Europe: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 50: Germany: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 51: Germany: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 52: France: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 53: France: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 54: United Kingdom: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 55: United Kingdom: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 56: Italy: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 57: Italy: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 58: Spain: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 59: Spain: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 60: Russia: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 61: Russia: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 62: Others: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 63: Others: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 64: Latin America: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 65: Latin America: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 66: Brazil: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 67: Brazil: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 68: Mexico: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 69: Mexico: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 70: Others: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 71: Others: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 72: Middle East and Africa: Smart Energy Market: Sales Value (in Million US$), 2017 & 2022
- Figure 73: Middle East and Africa: Smart Energy Market: Breakup by Country (in %), 2022
- Figure 74: Middle East and Africa: Smart Energy Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 75: Global: Smart Energy Industry: SWOT Analysis
- Figure 76: Global: Smart Energy Industry: Value Chain Analysis
- Figure 77: Global: Smart Energy Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Smart Energy Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Smart Energy Market Forecast: Breakup by Component (in Million US$), 2023-2028
- Table 3: Global: Smart Energy Market Forecast: Breakup by Product (in Million US$), 2023-2028
- Table 4: Global: Smart Energy Market Forecast: Breakup by End Use Sector (in Million US$), 2023-2028
- Table 5: Global: Smart Energy Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 6: Global: Smart Energy Market: Competitive Structure
- Table 7: Global: Smart Energy Market: Key Players
