Get an inclusive research report offering a thorough market analysis and growth outlook of the Global Smart Energy Market in the latest research report added by Big Market Research.
The smart energy market is significantly driven by the increasing investments in smart grid technologies. Since, smart grids introduce a different set of protocols and increased emphasis on renewable energy in the energy mix of countries around the world. According to the Smart America Organization, United States government would invest approximately $41 trillion over the next 20 years with an aim to upgrade their smart-grid infrastructure. Through this investment, United States government aims to create environmental sustainability and enhance the quality of life for its citizen. Similarly, as per the China Electricity Council, by 2020, Chinese government plans to construct three major transmission lines, each expected to reach 20GW of transmission capacity, promoting adoption of smart grid technology in the country. In 2015, the government of China invested around $101 billion and these funds are dedicated to developing smart grid technology. However, high cost of upgrading smart grids is expected to hinder the growth of the smart energy market during the forecast period.
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The leading Key players
- ABB LTD
- GE Energy
- Landis + Gyr
On the basis of segmentation, the Smart Energy market is segmented into type and end-user. The type segment of Smart Energy market is classified into smart grid, home energy management systems (HEMS), smart solar, digital oilfield and others of which smart grid segment dominates the market owing to the increase in implementation smart grids across the globe. On the basis of end-user segment, the market is bifurcated into commercial sector, residential sector and industrial sector of which commercial segment is expected to dominate the market owing to the increasing demand of energy.
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The detailed segments and sub-segment of the market are explained below:
- Smart Grid
- Digital Oilfield
- Smart solar
- Home energy management systems (HEMs)
- Commercial Sector
- Residential Sector
- Industrial Sector
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
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