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Smart Energy Market Report by Component (Hardware and Equipment, Solution and Service), Product (Smart Grid, Digital Oilfield, Smart Solar, Home Energy Management System), End Use Sector (Residential, Industrial, Commercial), and Region 2024-2032

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    Report

  • 149 Pages
  • July 2024
  • Region: Global
  • IMARC Group
  • ID: 5577957
The global smart energy market size reached US$ 164.3 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 318.6 Billion by 2032, exhibiting a growth rate (CAGR) of 7.6% during 2023-2032.

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:

The report 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 2024-2032. 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 2023?
2. What is the expected growth rate of the global smart energy market during 2024-2032?
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
9.2 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
9.3 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
9.4 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
9.5 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
List of Figures
Figure 1: Global: Smart Energy Market: Major Drivers and Challenges
Figure 2: Global: Smart Energy Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Smart Energy Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: Smart Energy Market: Breakup by Component (in %), 2023
Figure 5: Global: Smart Energy Market: Breakup by Product (in %), 2023
Figure 6: Global: Smart Energy Market: Breakup by End Use Sector (in %), 2023
Figure 7: Global: Smart Energy Market: Breakup by Region (in %), 2023
Figure 8: Global: Smart Energy (Hardware and Equipment) Market: Sales Value (in Million US$), 2018 & 2023
Figure 9: Global: Smart Energy (Hardware and Equipment) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 10: Global: Smart Energy (Solution and Service) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: Smart Energy (Solution and Service) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: Smart Energy (Smart Grid) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Smart Energy (Smart Grid) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Smart Energy (Digital Oilfield) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Smart Energy (Digital Oilfield) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Smart Energy (Smart Solar) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Smart Energy (Smart Solar) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Smart Energy (Home Energy Management System) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Smart Energy (Home Energy Management System) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: Smart Energy (Residential) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: Smart Energy (Residential) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: Smart Energy (Industrial) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: Smart Energy (Industrial) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: Smart Energy (Commercial) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: Smart Energy (Commercial) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: North America: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: North America: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: United States: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: United States: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Canada: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Canada: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: Asia-Pacific: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: Asia-Pacific: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: China: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: China: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: Japan: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: Japan: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: India: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: India: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: South Korea: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: South Korea: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: Australia: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: Australia: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: Indonesia: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: Indonesia: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: Others: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: Others: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: Europe: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: Europe: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Germany: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Germany: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: France: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: France: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: United Kingdom: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: United Kingdom: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: Italy: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: Italy: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: Spain: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: Spain: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 60: Russia: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 61: Russia: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 62: Others: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 63: Others: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 64: Latin America: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 65: Latin America: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 66: Brazil: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 67: Brazil: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 68: Mexico: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 69: Mexico: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 70: Others: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 71: Others: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 72: Middle East and Africa: Smart Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 73: Middle East and Africa: Smart Energy Market: Breakup by Country (in %), 2023
Figure 74: Middle East and Africa: Smart Energy Market Forecast: Sales Value (in Million US$), 2024-2032
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, 2023 and 2032
Table 2: Global: Smart Energy Market Forecast: Breakup by Component (in Million US$), 2024-2032
Table 3: Global: Smart Energy Market Forecast: Breakup by Product (in Million US$), 2024-2032
Table 4: Global: Smart Energy Market Forecast: Breakup by End Use Sector (in Million US$), 2024-2032
Table 5: Global: Smart Energy Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 6: Global: Smart Energy Market: Competitive Structure
Table 7: Global: Smart Energy Market: Key Players

Companies Mentioned

  • 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.)
  • Siemens AG.

Methodology

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Table Information