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Smart Energy Market is Booming in Upcoming Year | General Electric, Itron, Honeywell International, Siemens

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Smart Energy Market is Booming in Upcoming Year | General Electric, Itron, Honeywell International, Siemens

June 10
13:57 2021
Smart Energy Market is Booming in Upcoming Year | General Electric, Itron, Honeywell International, Siemens

Smart Energy Market
Smart Energy Market by Product (Smart grid, Digital Oilfield, Smart Solar, and Home energy management system), End-User Industry (Residential, Industrial, and Commercial): Global Opportunity Analysis and Industry Forecast, 2020-2027

The ‘ Smart Energy market’ research report added by Report Ocean, is an in-depth analysis of the latest developments, market size, status, upcoming technologies, industry drivers, challenges, regulatory policies, with key company profiles and strategies of players. The research study provides market overview, Smart Energy market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Smart Energy market size forecast, market data&Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence.

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 “Smart Energy Market by Product and End-User Industry: Opportunity Analysis and Industry Forecast, 2020–2027”, global smart energy market size was valued at $124.0 billion in 2019, and is projected to reach $253.1 billion by 2027, growing at a CAGR of 9.6% from 2020 to 2027.

 

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.

 

Growing preference of sustainable energy resources such as solar and wind is expected to drive the market growth in forecast timeframe. In addition, the mandatory installation of smart meters in households and commercial areas is expected to boost the growth of the smart energy market. In addition, increase in demand for efficient energy technologies such as implementation of IOT (internet of things), will further drive the demand for various smart grids.

 

On the basis of product, smart grid emerged as the market leader. This is attributed to rise in demand for dynamic pricing or real-time pricing, coupled with application of distributed energy system in residential and commercial places. It gives the capability to reduce electricity cost, improve reliability, and reduce emission rates.

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Based on end-user industry, the residential end-user industry segment accounted for considerable market share, owing to increase in residential power consumption. Due to economic developments and favorable government policies, the smart meters market witnessed a large demand in the residential sector; therefore, positively impacting the market growth.

Asia-Pacific is expected to witness highest market growth. This is attributed to growing application of smart energy devices in China, India, and Japan. Furthermore, favorable government policies in these countries regarding subsidies and rebates, and mandatory installation of smart meters will positively impact the market growth. 

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.

COVID-19 scenario analysis

The smart energy market has been severely impacted by the outbreak of COVID-19 across the globe. The market witnessed large fall in demand from manufacturing and production centers, owing to large number of shutdown in the industrial sector.

As the demand from end user gradually decreased, the wholesale electricity price also decreased.

But, shifting trend toward work from home norms and growing energy demand from residential sectors will foster the smart energy market growth.

Nonetheless, social distancing norms and lockdown measures across the globe led to supply chain disruption in the smart energy market.

Social distancing norms affected the availability of equipment and spare parts; thus, negatively impacting the maintenance and infrastructure development activities.

In post COVID period, industry players will focus to re-asses their supply chain and consider whether sourcing from domestic players closer to operational site may improve the supply chain.

Key findings of the study

The smart solar segment is projected to grow at the highest CAGR of approximately 12.7%, in terms of revenue, during the forecast period.

By end-user industry, the industrial segment held 47% market share with a CAGR of 10.1%, in terms of revenue, during the forecast period.

The North America dominated the market with around 50% revenue share in 2019.

Changing Forecasts in a Time of Crisis: explores key issues, including:

  • Future changes in consumer behavior
  • High-frequency economic data
  • Mapping Out a Potential Recovery
  • Business Strategies During COVID-19
  • Near & Long Term Risk Outlook, Risk Assessment and Opportunities

Key questions answered: The Study Explore COVID 19 Outbreak Impact Analysis

  • Market size and growth rate during forecast period.
  • Key factors driving the Market.
  • Key market trends cracking up the growth of the Market.
  • Challenges to market growth.
  • Key vendors of Market.
  • Detailed SWOT analysis.
  • Opportunities and threats faces by the existing vendors in Global Market.
  • Trending factors influencing the market in the geographical regions.
  • Strategic initiatives focusing the leading vendors.
  • PEST analysis of the market in the five major regions.
  • What should be entry strategies, countermeasures to economic impact, and marketing channels?
  • What are market dynamics?
  • What are challenges and opportunities?
  • What is economic impact on market?
  • What is market chain analysis by upstream raw materials and downstream industry?
  • What is industry considering capacity, production and production value? What will be the estimation of cost and profit? What will be market share, supply and consumption? What about import and export?
  • What is current market status? What’s market competition in this industry, both company, and country wise? What’s market analysis by taking applications and types in consideration?
  • What were capacity, production value, cost and profit?
  • Who are the global key players in this industry? What are their company profile, their product information, and contact information?
  • Which manufacturing technology is used, what are their company profile, their product information, and contact information?

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Key Points Covered in Smart Energy Market Report:

Chapter 1, to describe Definition, Specifications and Classification of Global Smart Energy, Applications of , Market Segment by Regions; 
Chapter 2, to analyze the Manufacturing Cost Structure, Raw Material and Suppliers, Manufacturing Process, Industry Chain Structure; 
Chapter 3, to display the Technical Data and Manufacturing Plants Analysis of , Capacity and Commercial Production Date, Manufacturing Plants Distribution, Export & Import, R&D Status and Technology Source, Raw Materials Sources Analysis; 
Chapter 4, to show the Overall Market Analysis, Capacity Analysis (Company Segment), Sales Analysis (Company Segment), Sales Price Analysis (Company Segment); 
Chapter 5 and 6, to show the Regional Market Analysis that includes United States, EU, Japan, China, India & Southeast Asia, Segment Market Analysis (by Type); 
Chapter 7 and 8, to explore the Market Analysis by Application Major Manufacturers Analysis; 
Chapter 9, Market Trend Analysis, Regional Market Trend, Market Trend by Product Type, Market Trend by Application; 
Chapter 10, Regional Marketing Type Analysis, International Trade Type Analysis, Supply Chain Analysis; 
Chapter 11, to analyze the Consumers Analysis of Global Smart Energy by region, type and application; 
Chapter 12, to describe Smart Energy Research Findings and Conclusion, Appendix, methodology and data source; 
Chapter 13, 14 and 15, to describe Smart Energy sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source. 

Continued….

……..and view more in complete table of Contents

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