The Global Smart Energy for Smart Cities Technology Market Is Expected to Total $136.9 Billion from 2015 to 2024
A recent report from Navigant Research examines the smart energy for smart cities market, focusing on the smart grid and advanced energy technologies segments, with global market forecasts for revenue, through 2024.
The movement toward smart grids is increasingly focused on the ability to effectively manage distributed energy resources (DER) within a city. Smart grid technologies are enabling unprecedented energy efficiency improvements, as well as dynamic forms of demand management and integration of distributed renewable energy resources. Click to tweet: According to a recent report from @NavigantRSRCH, the smart cities technology market is expected to total $136.9 billion from 2015 to 2024.
“Smart cities are emerging as an important force in implementing the Energy Cloud philosophy across different sectors such as transportation, public and private institutions and buildings, and land use and development,” says Lauren Callaway, research analyst with Navigant Research. “For utilities, this creates myriad opportunities to test and deploy new technologies, services, and business models.”
For utilities and cities, developing an effective cross-agency smart energy/smart city strategy enables the optimal use of citizen and city-owned energy resources and reduces redundant investments in infrastructure, according to the report. Such a strategy also promotes customer engagement, thus improving quality of service and expanding the services offered to residential, public sector, and commercial energy users.