Smart Power Technology Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017–2025

Smart power technology encompasses electrical power generation and power distribution in an eco-friendly and economical manner. Smart power technology allows for optimal utilization of resources in order to enhance power generation. Rampant growth in population, in turn creates a highly conducive environment for growth of the global smart power technology market. According to Population Reference Bureau Organization , the global population was pegged at 7,418 million, up from 7,336 million in 2015. According to Energy Information Administration, in 2012, 549 quadrillion Btu energy was consumed globally, which is expected to increase to 674 quadrillion Btu by 2025. Considering the limited conventional non-renewable resources available, there is an acute need to optimally harness resources, while ensuring optimal energy production, thus fueling growth of the smart power technologies market. . Furthermore, increasing awareness among the global populace and corporates alike, regarding development of nature friendly products with a goal to decrease carbon emission is projected to increase demand for smart power technology devices. These devices are highly power efficient and have low cost of operation, in turn increasing consumer inclination towards these. However, high capital investment for installation of smart power generation plants and production and high cost of crude materials inhibits market growth to a certain extent.

Smart Power Technology Market Taxonomy

On the basis of sector, the global smart power technology market is classified into:

  • Energy and utilities sector
  • Public sector
  • Manufacturing sector
  • Transport sector
  • Healthcare sector
  • Telecom sector

On the basis of source, the global smart power technology market is classified into:

  • Solar
  • Wind
  • Electro chemical
  • other

On the basis of device type, the global Smart power technology market is classified into:

  • Low power device
  • Medium power device
  • High power device

Smart power technology Market Outlook – North America region holds the largest market share of the global smart power technology market

On the basis of geography, global smart power technology market is classified into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America holds the dominant position in the global smart power technology market and is projected to retain its dominance throughout the forecast period. This is mainly attributed to the countries such as the U.S. and Canada, which are early adopters of novel technologies and account for a disproportionately high consumption of energy. According to Energy Information Administration, in 2012, 118 quadrillion Btu energy was consumed in the U.S., which is projected to increase to 128 quadrillion Btu by 2025.

Smart Power Devices Ltd., Smart Power Technologies LLC, Texas Instruments Incorporated., STMicroelectronics N.V, RICOH Electronic Devices Co., Schukat Electronic Vertriebs Gmbh and Wärtsilä Corporation are some of major companies of the global smart power technologies market. Leading players are focusing on organic growth strategies and geographical expansion to strengthen their position in the market. For example, in 2015, April, Wärtsilä Corporation—a Finland-based power source manufacturing and service providing company—announced the installation of two new smart power generation power plants in Oman, for the Rural Area Electricity Company.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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