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Figure 1. Research Method Flow Chart 12
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation 15
Figure 3. Global Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2020-2027 17
Figure 4. Global Smart Energy Market, 2017-2027, $ bn 19
Figure 5. Impact of COVID-19 on Business 22
Figure 6. Primary Drivers and Impact Factors of Global Smart Energy Market 24
Figure 7. Primary Restraints and Impact Factors of Global Smart Energy Market 27
Figure 8. Investment Opportunity Analysis 31
Figure 9. Porter’s Fiver Forces Analysis of Global Smart Energy Market 34
Figure 10. Breakdown of Global Smart Energy Market by Component, 2020-2027, % of Revenue 38
Figure 11. Contribution to Global 2021-2027 Cumulative Revenue by Component, Value ($ bn) and Share (%) 39
Figure 12. Global Smart Energy Market: Hardware & Equipment, 2017-2027, $ bn 40
Figure 13. Global Smart Energy Market: Solution & Service, 2017-2027, $ bn 41
Figure 14. Breakdown of Global Smart Energy Market by Product Type, 2020-2027, % of Revenue 42
Figure 15. Contribution to Global 2021-2027 Cumulative Revenue by Product Type, Value ($ bn) and Share (%) 43
Figure 16. Global Smart Energy Market: Smart Grid, 2017-2027, $ bn 44
Figure 17. Global Smart Energy Market: Digital Oilfield, 2017-2027, $ bn 45
Figure 18. Global Smart Energy Market: Smart Solar, 2017-2027, $ bn 46
Figure 19. Global Smart Energy Market: Smart Home Energy Management System, 2017-2027, $ bn 47
Figure 20. Global Smart Energy Market: Other Products, 2017-2027, $ bn 48
Figure 21. Breakdown of Global Smart Energy Market by End Use, 2020-2027, % of Revenue 49
Figure 22. Contribution to Global 2021-2027 Cumulative Revenue by End Use, Value ($ bn) and Share (%) 50
Figure 23. Global Smart Energy Market: Residential Use, 2017-2027, $ bn 51
Figure 24. Global Smart Energy Market: Commercial Use, 2017-2027, $ bn 52
Figure 25. Global Smart Energy Market: Industrial Use, 2017-2027, $ bn 53
Figure 26. Global Market Snapshot by Region 54
Figure 27. Geographic Spread of Worldwide Smart Energy Market, 2020-2027, % of Revenue 55
Figure 28. Contribution to Global 2021-2027 Cumulative Revenue by Region, Value ($ bn) and Share (%) 56
Figure 29. North American Smart Energy Market, 2017-2027, $ bn 59
Figure 30. Breakdown of North America Smart Energy Market by Country, 2020 and 2027, % of Revenue 59
Figure 31. Contribution to North America 2021-2027 Cumulative Revenue by Country, Value ($ bn) and Share (%) 60
Figure 32. U.S. Smart Energy Market, 2017-2027, $ bn 62
Figure 33. Canada Smart Energy Market, 2017-2027, $ bn 64
Figure 34. Smart Energy Market in Mexico, 2017-2027, $ bn 66
Figure 35. European Smart Energy Market, 2017-2027, $ bn 69
Figure 36. Breakdown of European Smart Energy Market by Country, 2020 and 2027, % of Revenue 69
Figure 37. Contribution to Europe 2021-2027 Cumulative Revenue by Country, Value ($ bn) and Share (%) 70
Figure 38. Smart Energy Market in UK, 2017-2027, $ bn 71
Figure 39. Smart Energy Market in France, 2017-2027, $ bn 73
Figure 40. Smart Energy Market in Germany, 2017-2027, $ bn 75
Figure 41. Smart Energy Market in Spain, 2017-2027, $ bn 77
Figure 42. Smart Energy Market in Italy, 2017-2027, $ bn 79
Figure 43. Smart Energy Market in Russia, 2017-2027, $ bn 81
Figure 44. Smart Energy Market in Rest of Europe, 2017-2027, $ bn 83
Figure 45. Asia-Pacific Smart Energy Market, 2017-2027, $ bn 86
Figure 46. Breakdown of APAC Smart Energy Market by Country, 2020 and 2027, % of Revenue 86
Figure 47. Contribution to APAC 2021-2027 Cumulative Revenue by Country, Value ($ bn) and Share (%) 87
Figure 48. Smart Energy Market in China, 2017-2027, $ bn 88
Figure 49. Smart Energy Market in Japan, 2017-2027, $ bn 91
Figure 50. Smart Energy Market in India, 2017-2027, $ bn 93
Figure 51. Smart Energy Market in Australia, 2017-2027, $ bn 95
Figure 52. Smart Energy Market in South Korea, 2017-2027, $ bn 97
Figure 53. Smart Energy Market in Rest of APAC, 2017-2027, $ bn 99
Figure 54. South America Smart Energy Market, 2017-2027, $ bn 102
Figure 55. Breakdown of South America Smart Energy Market by Country, 2020 and 2027, % of Revenue 102
Figure 56. Contribution to South America 2021-2027 Cumulative Revenue by Country, Value ($ bn) and Share (%) 103
Figure 57. Smart Energy Market in Argentina, 2017-2027, $ bn 104
Figure 58. Smart Energy Market in Brazil, 2017-2027, $ bn 106
Figure 59. Smart Energy Market in Chile, 2017-2027, $ bn 108
Figure 60. Smart Energy Market in Rest of South America, 2017-2027, $ bn 110
Figure 61. Smart Energy Market in Middle East and Africa (MEA), 2017-2027, $ bn 112
Figure 62. Breakdown of MEA Smart Energy Market by Country, 2020 and 2027, % of Revenue 112
Figure 63. Contribution to MEA 2021-2027 Cumulative Revenue by Country, Value ($ bn) and Share (%) 113
Figure 64. Smart Energy Market in UAE, 2017-2027, $ bn 114
Figure 65. Smart Energy Market in Saudi Arabia, 2017-2027, $ bn 116
Figure 66. Smart Energy Market in South Africa, 2017-2027, $ bn 118
Figure 67. Growth Stage of Global Smart Energy Industry over the Forecast Period 121
Table 1. Snapshot of Global Smart Energy Market in Balanced Perspective, 2020-2027 18
Table 2. Growth Rate of World GDP, 2020-2022 21
Table 3. Main Product Trends and Market Opportunities in Global Smart Energy Market 30
Table 4. Global Smart Energy Market by Component, 2017-2027, $ bn 38
Table 5. Global Smart Energy Market by Product Type, 2017-2027, $ bn 42
Table 6. Global Smart Energy Market by End Use, 2017-2027, $ bn 49
Table 7. Global Smart Energy Market by Region, 2017-2027, $ bn 55
Table 8. Leading National Smart Energy Market, 2020 and 2027, $ bn 57
Table 9. North America Smart Energy Market by Country, 2017-2027, $ bn 60
Table 10. U.S. Smart Energy Market by Component, 2017-2027, $ bn 63
Table 11. U.S. Smart Energy Market by Product Type, 2017-2027, $ bn 63
Table 12. U.S. Smart Energy Market by End Use, 2017-2027, $ bn 63
Table 13. Canada Smart Energy Market by Component, 2017-2027, $ bn 65
Table 14. Canada Smart Energy Market by Product Type, 2017-2027, $ bn 65
Table 15. Canada Smart Energy Market by End Use, 2017-2027, $ bn 65
Table 16. Mexico Smart Energy Market by Component, 2017-2027, $ bn 67
Table 17. Mexico Smart Energy Market by Product Type, 2017-2027, $ bn 67
Table 18. Mexico Smart Energy Market by End Use, 2017-2027, $ bn 67
Table 19. Europe Smart Energy Market by Country, 2017-2027, $ bn 70
Table 20. UK Smart Energy Market by Component, 2017-2027, $ bn 72
Table 21. UK Smart Energy Market by Product Type, 2017-2027, $ bn 72
Table 22. UK Smart Energy Market by End Use, 2017-2027, $ bn 72
Table 23. France Smart Energy Market by Component, 2017-2027, $ bn 74
Table 24. France Smart Energy Market by Product Type, 2017-2027, $ bn 74
Table 25. France Smart Energy Market by End Use, 2017-2027, $ bn 74
Table 26. Germany Smart Energy Market by Component, 2017-2027, $ bn 76
Table 27. Germany Smart Energy Market by Product Type, 2017-2027, $ bn 76
Table 28. Germany Smart Energy Market by End Use, 2017-2027, $ bn 76
Table 29. Spain Smart Energy Market by Component, 2017-2027, $ bn 78
Table 30. Spain Smart Energy Market by Product Type, 2017-2027, $ bn 78
Table 31. Spain Smart Energy Market by End Use, 2017-2027, $ bn 78
Table 32. Italy Smart Energy Market by Component, 2017-2027, $ bn 80
Table 33. Italy Smart Energy Market by Product Type, 2017-2027, $ bn 80
Table 34. Italy Smart Energy Market by End Use, 2017-2027, $ bn 80
Table 35. Russia Smart Energy Market by Component, 2017-2027, $ bn 82
Table 36. Russia Smart Energy Market by Product Type, 2017-2027, $ bn 82
Table 37. Russia Smart Energy Market by End Use, 2017-2027, $ bn 82
Table 38. Smart Energy Market in Rest of Europe by Country, 2017-2027, $ bn 84
Table 39. APAC Smart Energy Market by Country, 2017-2027, $ bn 87
Table 40. China Smart Energy Market by Component, 2017-2027, $ bn 89
Table 41. China Smart Energy Market by Product Type, 2017-2027, $ bn 89
Table 42. China Smart Energy Market by End Use, 2017-2027, $ bn 89
Table 43. Japan Smart Energy Market by Component, 2017-2027, $ bn 92
Table 44. Japan Smart Energy Market by Product Type, 2017-2027, $ bn 92
Table 45. Japan Smart Energy Market by End Use, 2017-2027, $ bn 92
Table 46. India Smart Energy Market by Component, 2017-2027, $ bn 94
Table 47. India Smart Energy Market by Product Type, 2017-2027, $ bn 94
Table 48. India Smart Energy Market by End Use, 2017-2027, $ bn 94
Table 49. Australia Smart Energy Market by Component, 2017-2027, $ bn 96
Table 50. Australia Smart Energy Market by Product Type, 2017-2027, $ bn 96
Table 51. Australia Smart Energy Market by End Use, 2017-2027, $ bn 96
Table 52. South Korea Smart Energy Market by Component, 2017-2027, $ bn 98
Table 53. South Korea Smart Energy Market by Product Type, 2017-2027, $ bn 98
Table 54. South Korea Smart Energy Market by End Use, 2017-2027, $ bn 98
Table 55. Smart Energy Market in Rest of APAC by Country/Region, 2017-2027, $ bn 100
Table 56. South America Smart Energy Market by Country, 2017-2027, $ bn 103
Table 57. Argentina Smart Energy Market by Component, 2017-2027, $ bn 105
Table 58. Argentina Smart Energy Market by Product Type, 2017-2027, $ bn 105
Table 59. Argentina Smart Energy Market by End Use, 2017-2027, $ bn 105
Table 60. Brazil Smart Energy Market by Component, 2017-2027, $ bn 107
Table 61. Brazil Smart Energy Market by Product Type, 2017-2027, $ bn 107
Table 62. Brazil Smart Energy Market by End Use, 2017-2027, $ bn 107
Table 63. Chile Smart Energy Market by Component, 2017-2027, $ bn 109
Table 64. Chile Smart Energy Market by Product Type, 2017-2027, $ bn 109
Table 65. Chile Smart Energy Market by End Use, 2017-2027, $ bn 109
Table 66. MEA Smart Energy Market by Country, 2017-2027, $ bn 113
Table 67. UAE Smart Energy Market by Component, 2017-2027, $ bn 115
Table 68. UAE Smart Energy Market by Product Type, 2017-2027, $ bn 115
Table 69. UAE Smart Energy Market by End Use, 2017-2027, $ bn 115
Table 70. Saudi Arabia Smart Energy Market by Component, 2017-2027, $ bn 117
Table 71. Saudi Arabia Smart Energy Market by Product Type, 2017-2027, $ bn 117
Table 72. Saudi Arabia Smart Energy Market by End Use, 2017-2027, $ bn 117
Table 73. South Africa Smart Energy Market by Component, 2017-2027, $ bn 119
Table 74. South Africa Smart Energy Market by Product Type, 2017-2027, $ bn 119
Table 75. South Africa Smart Energy Market by End Use, 2017-2027, $ bn 119
Table 76. ABB Ltd.: Company Snapshot 125
Table 77. ABB Ltd.: Business Segmentation 125
Table 78. ABB Ltd.: Product Portfolio 126
Table 79. ABB Ltd.: Revenue, 2017-2019, $ bn 126
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Global smart energy market will reach $595 billion by 2027, growing by 16.4% annually over 2020-2027 driven by the rising adoption of smart grid technologies, increasing regulations on using energy-efficient equipment, and the growing demand for clean energy. 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 system 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 is a cost-effective, sustainable, and secure energy system, which focuses on sustainable energy production while reducing the production cost. The smart energy system consists of smart electricity, smart gas, and smart thermal grids. In addition, the application of smart energy system can also eliminate need of conventional fossil fuels.
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 favouring the market growth. Other factors, including the implementation of favourable government policies to promote the utilization of renewable energy resources, along with extensive infrastructural development, are anticipated to drive the market toward growth.
Advanced metering devices have strong demand in homes, offices and industrial plants for efficient energy management and easy monitoring of energy usage. However, smart energy requires high capital investment and integration of complex technologies, which are the major challenges during the initial phase. Installation of smart energy involves hardware and software components, including instrumentation, network infrastructure and network management software. In addition, the system requires integration of large number of systems, including work management systems, mobile workforce management, SCADA/DMS, and distribution automation systems. Nonetheless, favorable government policies and increase in emphasis on renewable power sources are expected to create lucrative opportunities in the market.
Major players have adopted product launch, collaboration, and acquisition to sustain the intense market competition. Some of the key players profiled in the report include General Electric, Itron, Honeywell International, Siemens, ABB Group, and Larsen & Toubro.
Asia-Pacific accounted for a significant market share. This is attributed to growing application of smart energy devices predominantly in China. For instance, in March 2019, China Southern Power Grid announced to invest around $25.3 billion for smart energy grid in the Pearl River Delta region. This will improve Guangzhou and Shenzhen cities power outages. In addition, growing emphasis on the usage of solar and wind power sources to reduce carbon emission will positively drive the market growth in Asia-Pacific.
Government of India is planning to replace 250 million conventional meters into smart meters by 2022. Furthermore, advanced metering infrastructure technology is expected to gain traction during the forecast timeframe, owing to increase in expenditure on infrastructure development.
The industrial sector accounted for highest revenue share and market growth, owing to increase in demand for smart energy in energy intensive industrial sectors, where the smart energy system helps to reduce energy cost and improve company's ecological profile, and feedback scheduling.
Highlighted with 79 tables and 67 figures, this 139-page report “Global Smart Energy Market 2020-2027 by Component (Hardware & Equipment, Solution & Service), Product Type (Smart Grid, Digital Oilfield, Smart Solar), End Use (Residential, Commercial, Industrial), and Region: Trend Outlook and Growth Opportunity” is based on a comprehensive research of the entire global smart energy market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2017-2019 and provides estimate/forecast from 2020 till 2027 with 2019 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces
The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify global smart energy market in every aspect of the classification from perspectives of Component, Product Type, End Use, and Region.
Based on Component, the global market is segmented into the following sub-markets with annual revenue for 2017-2027 included in each section.
• Hardware & Equipment
• Solution & Service
Based on Product Type, the global market is segmented into the following sub-markets with annual revenue for 2017-2027 included in each section.
• Smart Grid
• Digital Oilfield
• Smart Solar
• Smart Home Energy Management System
• Other Products
Based on End Use, the global market is segmented into the following sub-markets with annual revenue for 2017-2027 included in each section.
• Residential Use
• Commercial Use
• Industrial Use
Geographically, the following regions together with the listed national/local markets are fully investigated:
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Netherlands, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (UAE, Saudi Arabia, South Africa)
For each aforementioned region and country, detailed analysis and data for annual revenue are available for 2017-2027. The breakdown of all regional markets by country and split of key national markets by Component, Product Type, and End Use over the forecast years are also included.
The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Key Players (this may not be a complete list and extra companies can be added upon request):
ABB Ltd.
Elster Group SE
General Electric Company
Honeywell International Inc.
International Business Machines Corp.
Itron, Inc.
Landis+Gyr AG
Robert Bosch GmbH
S&T Smart Energy
Schneider Electric SE
Sensus
Siemens AG
Solar Grid Storage LLC
(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
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