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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
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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