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Smart Energy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global smart energy market reached a value of US$ 138.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 247.8 Billion by 2027, exhibiting a growth rate (CAGR) of 9.82% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

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.

 

 
 

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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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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, along with forecasts at the global, regional and country level from 2022-2027. 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:

 

 
 

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  • Smart Grid
  • Digital Oilfield
  • Smart Solar
  • Home Energy Management System
     

Breakup by End Use Sector:

  • Residential
  • Industrial
  • Commercial
     

Breakup by Region:

 

 
 

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  • 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Component, Product, End Use Sector, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
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Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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$), 2016-2021
Figure 3: Global: Smart Energy Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Smart Energy Market: Breakup by Component (in %), 2021
Figure 5: Global: Smart Energy Market: Breakup by Product (in %), 2021
Figure 6: Global: Smart Energy Market: Breakup by End Use Sector (in %), 2021
Figure 7: Global: Smart Energy Market: Breakup by Region (in %), 2021
Figure 8: Global: Smart Energy (Hardware and Equipment) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Smart Energy (Hardware and Equipment) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Smart Energy (Solution and Service) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Smart Energy (Solution and Service) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Smart Energy (Smart Grid) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Smart Energy (Smart Grid) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Smart Energy (Digital Oilfield) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Smart Energy (Digital Oilfield) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Smart Energy (Smart Solar) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Smart Energy (Smart Solar) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Smart Energy (Home Energy Management System) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Smart Energy (Home Energy Management System) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Smart Energy (Residential) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Smart Energy (Residential) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Smart Energy (Industrial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Smart Energy (Industrial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Smart Energy (Commercial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Smart Energy (Commercial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: North America: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: North America: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: United States: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: United States: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Canada: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Canada: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Asia-Pacific: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Asia-Pacific: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: China: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: China: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Japan: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Japan: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: India: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: India: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: South Korea: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: South Korea: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Australia: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Australia: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Indonesia: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Indonesia: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Others: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Others: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Europe: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Europe: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Germany: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Germany: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: France: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: France: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: United Kingdom: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: United Kingdom: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Italy: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Italy: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Spain: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Spain: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Russia: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Russia: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Others: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Others: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Latin America: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Latin America: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Brazil: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Brazil: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Mexico: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Mexico: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Others: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Others: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Middle East and Africa: Smart Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Middle East and Africa: Smart Energy Market: Breakup by Country (in %), 2021
Figure 74: Middle East and Africa: Smart Energy Market Forecast: Sales Value (in Million US$), 2022-2027
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, 2021 and 2027
Table 2: Global: Smart Energy Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 3: Global: Smart Energy Market Forecast: Breakup by Product (in Million US$), 2022-2027
Table 4: Global: Smart Energy Market Forecast: Breakup by End Use Sector (in Million US$), 2022-2027
Table 5: Global: Smart Energy Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Smart Energy Market: Competitive Structure
Table 7: Global: Smart Energy Market: Key Players


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Key Questions Answered in This Report

The global smart energy market was valued at US$ 138.8 Billion in 2021.

We expect the global smart energy market to exhibit a CAGR of 9.82% during 2022-2027.

The growing number of green buildings, coupled with the emergence of smart grids for automated
control on electricity distribution to reduce energy wastage, is primarily driving the global smart energy
market.

The sudden outbreak of the COVID-19 pandemic has led to the rising adoption of smart meters for
automated bill generation to reduce the need for human intervention.

Based on the product, the global smart energy market has been segmented into smart grid, digital
oilfield, smart solar, and home energy management system. Among these, smart grid currently holds the
majority of the total market share.

Based on the end use sector, the global smart energy market can be divided into residential, industrial,
and commercial. Currently, the industrial sector exhibits a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin
America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global smart energy market include 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.

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