Global Smart Energy Market 2024-2028
The smart energy market is forecasted to grow by USD 7.26 bn during 2023-2028, accelerating at a CAGR of 19.1% during the forecast period. The report on the smart energy market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising adoption of smart grid technologies, increasing inclination regulations on using energy-efficient equipment, and availability of a wide range of smart home products.
Technavio's smart energy market is segmented as below:
By Application
- Smart grid
- Digital oilfield
- Smart solar systems
- HEMS
By End-user
- Industrial
- Commercial
- Residential
By Geographical Landscape
- North America
- Europe
- APAC
- South America
- Middle East and Africa
This study identifies the growing investment in smart cities and smart homes as one of the prime reasons driving the smart energy market growth during the next few years. Also, growing demand for wireless smart meters and increasing role of utility service providers in energy management will lead to sizable demand in the market.
The report on the smart energy market covers the following areas:
- Smart energy market sizing
- Smart energy market forecast
- Smart energy market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading smart energy market vendors that include ABB Ltd., Cisco Systems Inc., Delta Electronics Inc., Enphase Energy Inc., General Electric Co., Honeywell International Inc., International Business Machines Corp., Itron Inc., Kontron AG, Larsen and Toubro Ltd., Mitsubishi Electric Corp., Nextera Energy Inc., Robert Bosch GmbH, Rockwell Automation Inc., SAP SE, Schneider Electric SE, Siemens AG, SMART Energy Solutions, Toshiba Corp., and Xylem Inc.. Also, the smart energy market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.