Smart Energy Trends and Forecast
The future of the global smart energy market looks promising with opportunities in the residential, industrial, and commercial markets. The global smart energy market is expected to reach an estimated $294.6 billion by 2030 with a CAGR of 8.5% from 2024 to 2030. The major drivers for this market are rise in renewable energy sources, increasing awareness among consumers about the environmental impact of energy consumption, and growing adoption of electric vehicles is boosting the demand for smart energy infrastructure.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Smart Energy by Segment
The study includes a forecast for the global smart energy by product, end use, and region.
Smart Energy Market by Product [Shipment Analysis by Value from 2018 to 2030]:
• Smart Grid
• Digital Oilfield
• Smart Solar
• Home Energy Management System
Smart Energy Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Residential
• Industrial
• Commercial
Smart Energy Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Smart Energy Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies smart energy companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the smart energy companies profiled in this report include-
• Sensus
• SIEMENS AG
• Schneider Electric
• General Electric Company
• S&T Smart Energy
• ABB Group
• Honeywell international
Smart Energy Market Insights
Lucintel forecasts that smart solar is expected to witness the highest growth over the forecast period.
Within this market, industrial will remain the largest segment due to significant need for smart energy solutions in energy-intensive industries because of the intensive activities and manufacturing processes involved.
North America will remain the largest region over the forecast period due to significant rise in government funding and incentives for smart energy projects, as well as, regionÄX%$%Xs emphasis on achieving improved energy quality is in line with the rising expectations for dependable and cutting-edge energy services.
Features of the Global Smart Energy Market
Market Size Estimates: Smart energy market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Smart energy market size by product, end use, and region in terms of value ($B).
Regional Analysis: Smart energy market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different product, end use, and regions for the smart energy market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the smart energy market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the smart energy market size?
Answer: The global smart energy market is expected to reach an estimated $294.6 billion by 2030.
Q2. What is the growth forecast for smart energy market?
Answer: The global smart energy market is expected to grow with a CAGR of 8.5% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the smart energy market?
Answer: The major drivers for this market are rise in renewable energy sources, increasing awareness among consumers about the environmental impact of energy consumption, and growing adoption of electric vehicles is boosting the demand for smart energy infrastructure.
Q4. What are the major segments for smart energy market?
Answer: The future of the global smart energy market looks promising with opportunities in the residential, industrial, and commercial markets.
Q5. Who are the key smart energy market companies?
Answer: Some of the key smart energy companies are as follows:
• Sensus
• SIEMENS AG
• Schneider Electric
• General Electric Company
• S&T Smart Energy
• ABB Group
• Honeywell international
Q6. Which smart energy market segment will be the largest in future?
Answer: Lucintel forecasts that smart solar is expected to witness the highest growth over the forecast period.
Q7. In smart energy market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to significant rise in government funding and incentives for smart energy projects, as well as, regionÄX%$%Xs emphasis on achieving improved energy quality is in line with the rising expectations for dependable and cutting-edge energy services.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the smart energy market by product (smart grid, digital oilfield, smart solar, and home energy management system), end use (residential, industrial, and commercial), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Smart Energy Market, Smart Energy Market Size, Smart Energy Market Growth, Smart Energy Market Analysis, Smart Energy Market Report, Smart Energy Market Share, Smart Energy Market Trends, Smart Energy Market Forecast, Smart Energy Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.