Smart Energy Market to Garner $253.1 Bn, Globally, by 2027 at 9.6% CAGR: Allied Market Research
b'PORTLAND, Ore., May 3, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "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, 20202027".
- b'PORTLAND, Ore., May 3, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "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, 20202027".
- As per the report, the global smart energy industry was pegged 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.\nIncrease in shift toward efficient energy technologies, advanced metering infrastructure, and robust investment in smart grid technologies have boosted the growth of the global smart energy market .
- However, high capital investment and integration of complex technologies hinder the market growth.
- However, the global smart energy market across Asia-Pacific is projected to register the highest CAGR of 10.7% during the forecast period, owing to the rise in application of smart energy devices predominantly in China with the increase in demand for renewable energy sources.\n'