Market drivers include reducing costs and improving energy stability, particularly for isolated or otherwise vulnerable communities
BOULDER, Colo., July 11, 2023 /PRNewswire/ — A new report from Guidehouse Insights explores the smart energy for smart cities technology market.
While still a developing market space, smart energy communities (SECs) are emerging at a time when there is growing demand and a growing pool of resources for their deployment. According to a new report from Guidehouse Insights, the smart energy for smart cities technology market is anticipated to grow from $36.7 billion in annual revenue in 2023 to $73.3 billion by 2032, at a compound annual growth rate (CAGR) of 8.0%.
“SECs offer a more modular, more resilient, and cleaner approach to how residents interact with the energy infrastructure around them. Active SECs have proven their success at improving the quality of energy for vulnerable communities,” says Grant Samms, research analyst with Guidehouse Insights. “While SECs today are generally considered a novel approach to meeting energy challenges, growing emphasis on the need to improve energy performance will drive considerable adoption in the coming decade.”
Reducing costs and improving energy stability, especially for isolated or otherwise vulnerable communities, continue to be the largest drivers of SEC adoption. Governments and communities are also using opportunities presented by EV adoption, like vehicle-to-grid services, to improve SEC performance and sustainability. Financially supporting these drivers are large infrastructure and climate investment packages that have been passed by numerous governments. However, SECs also face barriers related to regulatory structures, complexity, lack of standardization, and public engagement, according to the report.
The report, Smart Energy Communities, analyzes the global market for SECs, exploring market issues, emerging trends, drivers, and barriers for SEC deployments. Smart energy for smart cities market analyses are included for all world regions through 2032 and are broken out by advanced energy and smart grid technology segments. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public sector and commercial markets, with broad capabilities in management, technology, and risk consulting. By combining our public and private sector expertise, we help clients address their most complex challenges and navigate significant regulatory pressures focusing on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that help our clients outwit complexity and position them for future growth and success. The company has over 16,500 professionals in over 55 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit www.guidehouse.com.
* The information contained in this press release concerning the report, Smart Energy Communities, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
For more information, contact:
Cecile Fradkin for Guidehouse Insights
+1.646.941.9139
[email protected]
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SOURCE Guidehouse Insights
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