Smart Energy Storage Market
PUBLISHED: 2025 ID: SMRC28384
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Smart Energy Storage Market

Smart Energy Storage Market Forecasts to 2030 - Global Analysis by Product (Smart Grid, Digital Oilfield, Smart Solar and Home Energy Management System), Component, Technology, Application, End User and By Geography

4.7 (39 reviews)
4.7 (39 reviews)
Published: 2025 ID: SMRC28384

This report covers the impact of COVID-19 on this global market
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Years Covered

2022-2030

Estimated Year Value (2024)

US $10.13 BN

Projected Year Value (2030)

US $22.4 BN

CAGR (2024 - 2030)

14.2%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Asia Pacific


According to Stratistics MRC, the Global Smart Energy Storage Market is accounted for $10.13 billion in 2024 and is expected to reach $22.4 billion by 2030 growing at a CAGR of 14.2% during the forecast period. Smart energy storage is a term used to describe sophisticated electrical energy storage systems that optimize energy management, boost grid resilience, and employ intelligent technology. In order to store extra energy during periods of low demand and release it during periods of peak demand, these systems combine with renewable energy sources like solar and wind. Smart energy storage helps balance supply and demand, save energy prices, and maintains grid stability by combining features including automated control, real-time monitoring, and predictive analytics. 

Market Dynamics: 

Driver: 
 
Rising Demand for Renewable Energy

The growing demand for renewable energy has a substantial influence on the Smart Energy Storage Market, boosting the need for efficient storage solutions to balance intermittent energy output. Energy storage systems are essential for storing extra energy during periods of peak production and releasing it during periods of low output or high demand as the use of solar and wind power increases. By encouraging advancements in storage capacity, efficiency, and grid integration, this move toward renewable energy sources enhances the need for smart energy storage technologies and propels market expansion internationally.

Restraint:

High Initial Costs

The high upfront costs of smart energy storage devices are a major impediment to market expansion. Businesses and customers may be put off by the high initial costs associated with installation and integration, especially in areas where prices are crucial. The general implementation of energy storage technologies is delayed by this expensive barrier, which restricts uptake, particularly in poor nations. Long return-on-investment times also deter prospective investors and impede the adoption of more environmentally friendly energy systems, thus it hinders the growth of the market.

Opportunity:
 
Grid Modernization

Grid modernization improves grid stability, efficiency, and dependability, which has a big impact on the smart energy storage market. Energy storage systems may be better managed and energy distribution can be optimized through the integration of cutting-edge technology like AI, real-time monitoring, and predictive analytics. Peak load management and the efficient integration of renewable energy sources are made possible by this transition to smarter networks. Modernizing the grid also speeds up reaction times during outages, which raises demand for energy storage devices in both the residential and commercial sectors.

Threat:

Regulatory and Market Barriers

Regulatory and market restrictions impede the market by increasing uncertainty and limiting investment. Slow standard adoption, uneven regional policies, and complicated regulatory frameworks can all impede market expansion. Adoption is further deterred by high upfront costs and a lack of financial incentives for energy storage facilities. Furthermore, there are still major barriers to broad market adoption, including the absence of integrated infrastructure and difficulties integrating large-scale storage devices into the grid, thus it limits market expansion.

Covid-19 Impact: 

The COVID-19 pandemic initially disrupted the Smart Energy Storage Market through supply chain delays, production halts, and reduced investments in energy infrastructure. However, the crisis also highlighted the importance of resilient energy systems, boosting demand for smart energy solutions post-pandemic. As governments focus on green recovery and sustainable energy, the market has rebounded, with increased adoption of energy storage technologies, particularly in renewable energy projects and electric vehicles, driving long-term growth.

The supercapacitors segment is expected to be the largest during the forecast period

The supercapacitors segment is expected to be the largest during the forecast period because they make it possible to store and release energy efficiently, promoting grid stability and improving the integration of renewable energy sources. They are perfect for balancing variations in energy supply and demand because of their rapid energy storage and discharge capabilities. The use of supercapacitors in smart grids, renewable energy systems, and electric cars is propelling market expansion due to technological improvements like better materials and lower prices.  

The smart solar segment is expected to have the highest CAGR during the forecast period

The smart solar segment is expected to have the highest CAGR during the forecast period because these systems maximize energy use, store extra solar energy, and guarantee a steady supply of electricity even when the sun isn't shining. Smart solar systems improve grid dependability and cut down on energy waste by integrating AI and IoT for real-time monitoring and control. This synergy accelerates the growth of the smart energy storage industry by promoting the use of renewable energy, lowering prices, and supporting environmental goals.

Region with largest share:

North America is anticipated to hold the largest market share during the forecast period due to demand for renewable energy integration, the need for grid stability, and advancements in energy storage technologies. Government incentives and policies supporting clean energy, coupled with the decline in battery costs, are further propelling market growth. The increasing adoption of electric vehicles (EVs), smart grids, and energy-efficient buildings also contribute to the market's expansion, as industries seek to optimize energy use and reduce carbon footprints.

Region with highest CAGR:

Asia Pacific is anticipated to witness the highest CAGR over the forecast period owing to growing worries about grid reliability and energy security as well as increased power use. The efficiency and adaptability of energy storage systems are being improved by technological developments like artificial intelligence and Internet of Things integration. Regulations and incentives from the government that support sustainable energy alternatives also accelerate market expansion. Additionally, the region's market is expanding more quickly due to the growing use of energy storage systems and electric cars in both the residential and commercial sectors.

Key players in the market

Some of the key players in Smart Energy Storage market include Schneider Electric, Siemens AG, ABB Ltd., General Electric (GE), Honeywell International Inc., Eaton Corporation, Itron Inc., Landis+Gyr, Oracle Corporation, Cisco Systems, IBM, Grid4C, Enel X (Enel Group), Octopus Energy Group, NextEra Energy, BuildingIQ, Watty, Capgemini, Toshiba and Mitsubishi Electric Corporation.

Key Developments:

In May 2024, ABB expanded electrification portfolio with acquisition of Siemens’ Wiring Accessories business. The acquisition had broadened ABB’s market reach and complements its regional customer offering within smart buildings.

In Feb 2024, ABB announced an agreement to acquire SEAM Group, a major provider of energized asset management. The acquisition brought significant additional expertise to customers in the areas of predictive, preventive, and corrective maintenance.

In Jan 2024, ABB announced to acquire Canadian company Real Tech, a leading supplier of innovative optical sensor technology that enables real-time water monitoring. Through the acquisition, ABB expands its strong presence in the water segment and complement its product portfolio with optical technology critical for smart water management.

Products Covered:
• Smart Grid
• Digital Oilfield
• Smart Solar
• Home Energy Management System

Components Covered:
• Solutions
• Services

Technologies Covered:
• Lithium-Ion Batteries
• Lead-Acid Batteries
• Sodium-Ion Batteries
• Flow Batteries
• Supercapacitors

Applications Covered:
• Energy Generation
• Energy Transmission
• Energy Distribution
• Energy Consumption
• Energy Storage
• Other Applications

End Users Covered:
• Residential
• Commercial
• Industrial
• Utility
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary     
       
2 Preface      

 2.1 Abstract     
 2.2 Stake Holders    
 2.3 Research Scope    
 2.4 Research Methodology   
  2.4.1 Data Mining   
  2.4.2 Data Analysis   
  2.4.3 Data Validation   
  2.4.4 Research Approach   
 2.5 Research Sources    
  2.5.1 Primary Research Sources  
  2.5.2 Secondary Research Sources  
  2.5.3 Assumptions   
       
3 Market Trend Analysis    
 3.1 Introduction    
 3.2 Drivers     
 3.3 Restraints    
 3.4 Opportunities    
 3.5 Threats     
 3.6 Product Analysis    
 3.7 Technology Analysis   
 3.8 Application Analysis   
 3.9 End User Analysis    
 3.10 Emerging Markets    
 3.11 Impact of Covid-19    
       
4 Porters Five Force Analysis    
 4.1 Bargaining power of suppliers   
 4.2 Bargaining power of buyers   
 4.3 Threat of substitutes   
 4.4 Threat of new entrants   
 4.5 Competitive rivalry    
       
5 Global Smart Energy Storage Market, By Product  
 5.1 Introduction    
 5.2 Smart Grid    
 5.3 Digital Oilfield    
 5.4 Smart Solar    
 5.5 Home Energy Management System  
       
6 Global Smart Energy Storage Market, By Component 
 6.1 Introduction    
 6.2 Solutions     
  6.2.1 Smart Meters   
  6.2.2 Data and Device Management  
  6.2.3 PV Monitoring   
  6.2.4 Smart Energy Storage  
 6.3 Services     
       
7 Global Smart Energy Storage Market, By Technology 
 7.1 Introduction    
 7.2 Lithium-Ion Batteries   
 7.3 Lead-Acid Batteries    
 7.4 Sodium-Ion Batteries   
 7.5 Flow Batteries    
 7.6 Supercapacitors    
       
8 Global Smart Energy Storage Market, By Application 
 8.1 Introduction    
 8.2 Energy Generation    
 8.3 Energy Transmission   
 8.4 Energy Distribution    
 8.5 Energy Consumption   
 8.6 Energy Storage    
 8.7 Other Applications    
       
9 Global Smart Energy Storage Market, By End User  
 9.1 Introduction    
 9.2 Residential    
 9.3 Commercial    
 9.4 Industrial     
 9.5 Utility     
 9.6 Other End Users    
       
10 Global Smart Energy Storage Market, By Geography 
 10.1 Introduction    
 10.2 North America    
  10.2.1 US    
  10.2.2 Canada    
  10.2.3 Mexico    
 10.3 Europe     
  10.3.1 Germany    
  10.3.2 UK    
  10.3.3 Italy    
  10.3.4 France    
  10.3.5 Spain    
  10.3.6 Rest of Europe   
 10.4 Asia Pacific    
  10.4.1 Japan    
  10.4.2 China    
  10.4.3 India    
  10.4.4 Australia    
  10.4.5 New Zealand   
  10.4.6 South Korea   
  10.4.7 Rest of Asia Pacific   
 10.5 South America    
  10.5.1 Argentina   
  10.5.2 Brazil    
  10.5.3 Chile    
  10.5.4 Rest of South America  
 10.6 Middle East & Africa   
  10.6.1 Saudi Arabia   
  10.6.2 UAE    
  10.6.3 Qatar    
  10.6.4 South Africa   
  10.6.5 Rest of Middle East & Africa  
       
11 Key Developments     
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures
 11.2 Acquisitions & Mergers   
 11.3 New Product Launch   
 11.4 Expansions    
 11.5 Other Key Strategies   
       
12 Company Profiling     
 12.1 Schneider Electric    
 12.2 Siemens AG    
 12.3 ABB Ltd.     
 12.4 General Electric (GE)   
 12.5 Honeywell International Inc.   
 12.6 Eaton Corporation    
 12.7 Itron Inc.     
 12.8 Landis+Gyr    
 12.9 Oracle Corporation    
 12.10 Cisco Systems    
 12.11 IBM     
 12.12 Grid4C     
 12.13 Enel X (Enel Group)    
 12.14 Octopus Energy Group   
 12.15 NextEra Energy    
 12.16 BuildingIQ    
 12.17 Watty     
 12.18 Capgemini    
 12.19 Toshiba     
 12.20 Mitsubishi Electric Corporation  
       
List of Tables      
1 Global Smart Energy Storage Market Outlook, By Region (2022-2030) ($MN)
2 Global Smart Energy Storage Market Outlook, By Product (2022-2030) ($MN)
3 Global Smart Energy Storage Market Outlook, By Smart Grid (2022-2030) ($MN)
4 Global Smart Energy Storage Market Outlook, By Digital Oilfield (2022-2030) ($MN)
5 Global Smart Energy Storage Market Outlook, By Smart Solar (2022-2030) ($MN)
6 Global Smart Energy Storage Market Outlook, By Home Energy Management System (2022-2030) ($MN)
7 Global Smart Energy Storage Market Outlook, By Component (2022-2030) ($MN)
8 Global Smart Energy Storage Market Outlook, By Solutions (2022-2030) ($MN)
9 Global Smart Energy Storage Market Outlook, By Smart Meters (2022-2030) ($MN)
10 Global Smart Energy Storage Market Outlook, By Data and Device Management (2022-2030) ($MN)
11 Global Smart Energy Storage Market Outlook, By PV Monitoring (2022-2030) ($MN)
12 Global Smart Energy Storage Market Outlook, By Smart Energy Storage (2022-2030) ($MN)
13 Global Smart Energy Storage Market Outlook, By Services (2022-2030) ($MN)
14 Global Smart Energy Storage Market Outlook, By Technology (2022-2030) ($MN)
15 Global Smart Energy Storage Market Outlook, By Lithium-Ion Batteries (2022-2030) ($MN)
16 Global Smart Energy Storage Market Outlook, By Lead-Acid Batteries (2022-2030) ($MN)
17 Global Smart Energy Storage Market Outlook, By Sodium-Ion Batteries (2022-2030) ($MN)
18 Global Smart Energy Storage Market Outlook, By Flow Batteries (2022-2030) ($MN)
19 Global Smart Energy Storage Market Outlook, By Supercapacitors (2022-2030) ($MN)
20 Global Smart Energy Storage Market Outlook, By Application (2022-2030) ($MN)
21 Global Smart Energy Storage Market Outlook, By Energy Generation (2022-2030) ($MN)
22 Global Smart Energy Storage Market Outlook, By Energy Transmission (2022-2030) ($MN)
23 Global Smart Energy Storage Market Outlook, By Energy Distribution (2022-2030) ($MN)
24 Global Smart Energy Storage Market Outlook, By Energy Consumption (2022-2030) ($MN)
25 Global Smart Energy Storage Market Outlook, By Energy Storage (2022-2030) ($MN)
26 Global Smart Energy Storage Market Outlook, By Other Applications (2022-2030) ($MN)
27 Global Smart Energy Storage Market Outlook, By End User (2022-2030) ($MN)
28 Global Smart Energy Storage Market Outlook, By Residential (2022-2030) ($MN)
29 Global Smart Energy Storage Market Outlook, By Commercial (2022-2030) ($MN)
30 Global Smart Energy Storage Market Outlook, By Industrial (2022-2030) ($MN)
31 Global Smart Energy Storage Market Outlook, By Utility (2022-2030) ($MN)
32 Global Smart Energy Storage Market Outlook, By Other End Users (2022-2030) ($MN)
       
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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