NEW YORK, Jan. 5, 2024 /PRNewswire/ — The smart energy market size is expected to grow by USD 7.26 billion from 2023 to 2028. In addition, the growth momentum of the market will progress at a CAGR of 19.1% during the forecast period, according to Technavio. The rising adoption of smart grid technologies is notably driving the smart energy market. However, factors such as intermittency in solar energy may impede market growth. The market is segmented by application (smart grid, digital oilfield, smart solar systems, and HEMS), end-user (industrial, commercial, and residential), and geography (North America, Europe, APAC, South America, and Middle East and Africa). We provide a detailed analysis of 20 companies operating in the smart energy market including ABB Ltd., Cisco Systems Inc., Delta Electronics Inc., Enphase Energy Inc., General Electric Co., Honeywell International Inc., International Business Machines Corp., Itron Inc., Kontron AG, Larsen and Toubro Ltd., Mitsubishi Electric Corp., Nextera Energy Inc., Robert Bosch GmbH, Rockwell Automation Inc., SAP SE, Schneider Electric SE, Siemens AG, SMART Energy Solutions, Toshiba Corp., and Xylem Inc..The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request a Free Sample Report.
Smart Energy Market 2024-2028: Company Analysis
ABB Ltd: The company offers smart energy such as ABB Electrification.
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Smart Energy Market 2024-2028: Segmentation
Application
- The market growth of the smart grid segment is significant during the forecast period. The advent of smart grid technology has also facilitated the growth of several other related technologies. In addition, smart grid networking technologies help in the integration of renewable power generation technologies with the grid. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
- End-user
Geography
- North America accounts for 34% of the market growth during the forecast period. Factors such as the strict governmental norms imposed by countries in the region, the evolution of smart cities in North America, and the rapid development of infrastructure are fuelling the market growth in the region. In addition, the US is the leading country in this region in terms of investment in smart energy solutions. Hence, such factors drive the market growth in North America during the forecast period.
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Smart Energy Market 2024-2028: Key Highlights
- Historic Market Size 2018-2022
- CAGR of the market during 2024-2028
- Detailed information on factors that will assist smart energy market growth during the next five years
- Estimation of the smart energy market size and its contribution to the parent market
- Forecasts on upcoming trends and changes in consumer behavior
- The growth of the smart energy market
- Analysis of the competitive landscape and detailed information on companies
- Comprehensive details of factors that will impede the growth of smart energy market companies
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Smart Energy Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 19.1% |
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Market Growth 2024-2028 |
USD 7.26 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
18.19 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 34% |
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Key countries |
US, China, Germany, France, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ABB Ltd., Cisco Systems Inc., Delta Electronics Inc., Enphase Energy Inc., General Electric Co., Honeywell International Inc., International Business Machines Corp., Itron Inc., Kontron AG, Larsen and Toubro Ltd., Mitsubishi Electric Corp., Nextera Energy Inc., Robert Bosch GmbH, Rockwell Automation Inc., SAP SE, Schneider Electric SE, Siemens AG, SMART Energy Solutions, Toshiba Corp., and Xylem Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by End-user
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
