Europe Smart Energy Market 2020-2027

Europe smart energy market accounted for $33.9 billion in 2020 and will grow by 13.6% annually over 2020-2027 owing to the rising adoption of smart grid technologies, increasing regulations on using energy-efficient equipment, and the growing demand for clean energy. The European energy system is undergoing, and will continue to in the future, a transition towards a more sustainable energy system. An important part of this will be the deployment of smart energy solutions in the household sector, including smart meters, controls, appliances, and their integration in home networks. Rising energy consumption across different end-use industries, increasing awareness about carbon footprint management, and increasing investment in smart energy infrastructure are the major factors driving the growth of this market. In addition, upcoming smart cities projects in developing economies and integration of energy management systems with smart devices are expected to offer significant growth opportunities for the growth of this market. However, the high initial cost of deployment and lack of financial resources restrain the market growth to a certain extent.

Governments across countries are investing heavily in the modernization of existing energy infrastructures. As part of the drive to achieve carbon-free electricity generation, ambitious expansion and recovery plans are included in policies to achieve more resilient and digital grids. Smart energy systems, including smart meters and grids, are increasingly being installed and are showing robust growth. Thus, increasing investment in smart energy infrastructure such as smart grids and smart meters creates massive demand for smart energy management systems.

The world’s electricity markets are experiencing the growing impacts of climate change. Extreme weather events such as heat waves, cold snaps, droughts and floods have become more frequent and intense, threatening the stability and reliability of electricity supply. Despite the impressive growth of renewable power, electricity generation from coal and gas hit record levels. As a result, in 2021, carbon dioxide (CO2) emissions from power generation rose by 7%, also reaching a record high, after having declined the two previous years. Governments are increasingly focused on tackling the threat of climate change, making climate policies. One major aspect in this crucial step is to adopt smart energy which will help the nations in this region improve their sustainability. The grid operation segment is expected to account for the largest share of the overall smart energy management market and is expected to grow at the highest CAGR during the forecast period.  The growth of the segment is attributed to the supportive regulatory framework of governments worldwide to promote the deployment of smart grids and a strong focus on the modernization of aging grid infrastructure and an increasingly complex distribution environment. The industrial segment is expected to account for the largest share of the overall smart energy management market. The growing investment in advanced technologies, increasing energy consumption across different industrial sectors, and rising inclination towards making manufacturing processes clean and efficient is driving the market growth. A smart electric meter plays a significant role in the residential sector, as this meter measures the energy consumed by the consumers. The increasing smart grid investments and the surge in the rate of integration of renewable sources of power generation to the existing grids, in developed economies, are expected to support the growth of the smart energy market in domestic and non-domestic sectors.

COVID-19 Impact

The global pandemic imposed unprecedented constraints on social and economic activities – particularly mobility – severely impacting energy use. Global energy demand contracted by 6% in 2020, the largest drop in more than 70 years. (Source: International Energy Agency). Countries such as France, Italy, Spain, the U.K., and the north-western region of the Europe saw consumption fall by at least 15% during lockdowns. Although in Italy, electricity demand was down by 75%. Potential new practices and social forms being facilitated by the pandemic impact energy demand and consumption. The residential sector experienced a significant increase in energy consumption (estimated at around 15%) since a large part of the population stayed at home and therefore needed more heating, lighting, use of electrical appliances, etc. (Source: INSEE)

Highlighted with 30 tables and 35 figures, this 86-page report “Europe 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 Country: Trend Outlook and Growth Opportunity” is based on a comprehensive research of the entire Europe 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 Europe 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 Europe smart energy market in every aspect of the classification from perspectives of Component, Product Type, End Use, and Country.

Based on Component, the Europe 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 Europe 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 Europe 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 national/local markets are fully investigated:
• Germany
• UK
• France
• Spain
• Italy
• Russia
• Rest of Europe (further segmented into Netherlands, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
For each key country, detailed analysis and data for annual revenue are available for 2017-2027. The breakdown 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.)