About Digital Energy Consulting and Management
Digital Energy Consulting and Management is the natural movement of real-time information transferred among both electricity suppliers and customers. It will transform everyone involved in the fuel, electricity, and gas industries. The spread of always-on broadband connections, market liberalization, the rise of merchant generators, and wholesale power trading have all accelerated the process of energy digitization. Energy consultants assist businesses in understanding their energy usage and providing recommendations on how to improve it. Environmental issues and sustainable energy sources are frequently useful.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 15.8% |
The local and major companies are exploring the market by adopting mergers & acquisitions, new technology expansions, investments, new launches, and collaborations as their preferred strategies. The major players are exploring new geographic regions through expansions and acquisitions to avail a competitive advantage through combined synergies. The market is expected to grow in the oil & gas industry. Several companies such as IBM, Accenture are operating in the market to provide customers better offer with various features & unique offerings. The market is a partially fragmented market with the presence of large market players and local players. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Digital Energy Consulting and Management market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
GE Energy Consulting (United States), Accenture (Ireland), Digital Energy Solutions (Germany), Cognizant (United States), BCG (United States), Deloitte (United Kingdom), Ramboll Group (Denmark), Wipro (India), Capgemini Inven (France) and IBM Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Honeywell International Inc. (United States), Rockwell Automation Inc. (United States), SAP SE (Germany), Siemens (Germany) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Digital Energy Consulting and Management market by Type (Design and Analysis, Testing and Commissioning, Field service and Other), Application (Residential and Commercial) and Region.
On the basis of geography, the market of Digital Energy Consulting and Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Consumption, the sub-segment i.e. Geothermal Energy will boost the Digital Energy Consulting and Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Solution will boost the Digital Energy Consulting and Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Energy and Utilities will boost the Digital Energy Consulting and Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Business process automation is an emerging digital transformation trend that companies must have in the upcoming year and Renewable Energy Helps To Safeguard the Environment by Emitting Little To No Harmful Pollutants
Market Growth Drivers:
Increasingly Complex Modern Digital Energy Systems and Enabling Progress toward Continuous Digital Energy Efficiency Improvements
Challenges:
High cost of implementation, Inadequately Documented Standards or Enforcement and Improper Maintenance for Digital Energy Consulting and Management
Restraints:
Lack of Awareness, Large Amount of Data Privacy Concern and Urban Network Has Strict Criterions on the Power Quality
Opportunities:
Surge in Installation of Smart Meters and Grids
Market Leaders and their expansionary development strategies
On 21th December 2021, GE Digital has offered to acquire Opus One Solutions Energy Corporation a software company that helps electric utilities optimise energy planning, operations, and market management. Opus One's renewable energy planning capabilities, combined with GE Digital's network management and optimization portfolio, will assist utilities in making decisions about how to integrate renewables and Distributed Energy Resources at scale across the electric grid.
On 16thh May 2022, GE announced the launch of Lifespan, a new digital product portfolio that allows customers to optimise renewable asset performance and operations across their fleet. The Lifespan suite of products is fully integrated, technology agnostic, and was designed in collaboration with operators to drive improved operations.
Capacity markets are emerging to address national government concerns about energy security imbalance arrangements are evolving to better reflect the changing value of flexibility with increased penetration of renewable resources transmission and distribution system operator’s roles are evolving to become smarter and regulation is changing to make demand aggregation and energy storage more easily available.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, OEM (Original Equipment Manufacturer), Regulatory Authorities, Government Bodies, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.