Global Smart Energy Market to Garner $4.10 Billion by 2027, States AMR
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Eswara Prasad, the manager, Energy and Power at Allied Market Research, said, “The global smart energy market in Asia-Pacific is projected to grow at the highest rate owing to rise in infrastructure and increase in urban population. Moreover, the surge in waste management reforms in the emerging markets such as India and China supplement the market growth.”
The study offers comprehensive information on market dynamics including drivers, restraints, and opportunities to aid market players to devise growth strategies based on opportunities. Rise in shift toward efficient energy technologies, robust investment in smart grid technologies, and advanced metering infrastructure drive the growth of the global smart energy market. However, high capital investment and integration of complex technologies hinder the market growth. On the contrary, favorable government policies are expected to open lucrative opportunities for the market players in the coming years.
The report provides a detailed analysis of the impact of the Covid-19 pandemic on the smart energy market globally. The study is instrumental for new entrants, investors, and market players to formulate business strategies concerning the current scenario and perfect the business model for the future. The Covid-19 pandemic presented challenges including production capacity and supply chain disruption. Moreover, a lack of raw materials resulted in a supply-demand gap in the global market.
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The study provides a comprehensive segmentation of the global smart energy market on the basis of waste type, method, source, and region. This study is vital for market investors to recognize the largest revenue gathering segments and fastest-growing segments during the forecast period.
By waste type, the solid waste segment held the largest share in 2019, accounting for more than half of the market. However, the e-waste segment is estimated to register the highest CAGR of 18.8% during the forecast period.
By method, the smart disposal segment is expected to showcase the highest CAGR of 17.7% during the forecast period. However, the smart collection held the lion’s share in 2019, contributing to more than three-fifths of the market.
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By region, the market Asia-Pacific is estimated to manifest the highest CAGR of 18.5% during the forecast period. Moreover, the market across North America held the largest share in 2019, contributing to nearly two-fifths of the market.
The major market players of the global smart energy market are analyzed in the report including Itron, General Electric, Siemens, Honeywell International, Larsen & Toubro, and ABB Group.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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