Smart Energy

Developed markets are entering a new phase, shifting from replacement of assets and decarbonization toward meeting rapidly accelerating power demand this decade. As electrification and digitalization accelerate, electricity demand is set to surge, increasing the need for energy efficient equipment, power infrastructure and smart energy applications.

The electrification of the global economy is entering a new phase. It is no longer just about how energy is generated, but increasingly about how electricity is delivered, stored, and used across industry, infrastructure, and daily life. Renewables are an essential part of the solution, but meeting rapidly rising power demand requires the electrification of entire value chains and downstream processes across the economy. Electrification is therefore central to solving the energy trilemma of energy security, affordability, and sustainability.

In Western markets, the focus is shifting from pure decarbonization toward accommodating accelerating electricity demand this decade. This transition requires substantial upgrades to aging power grids originally designed for fossil fuel systems, in order to transform them into intelligent, digital, and flexible networks. As electrification and digitalization intensify – driven by AI, data centers, and automation – electricity demand is set to surge, significantly increasing the need for energy efficient equipment, power infrastructure, and smart energy solutions.