About Energy Monitor
Energy Monitor helps in providing, develops and sharing information on fossil fuel projects in order to support the worldwide movement for clean energy. These help to monitor the different parameters of energy consumed or generated due to various sources. It is an electrical device that provides a feedback loop of the electrical current used in-home or other devices. This monitor also estimates the emissions of greenhouse gas. According to various studies that have shown a reduction in home energy which uses (4-15%) through the use of home energy display. Hence the major initiatives taken by the government in terms of energy has made the market to grow.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Energy Monitor is a fragmented market due to the presence of less players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Energy Monitor 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.
ABB Group (Switzerland), Cisco Systems (United States), General Electric Company (United States), IBM Corporation (United States), Honeywell International (United States), Eaton Corporation (Ireland), Emerson Electric (United States), Schneider Electric (France) and Siemens (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are CA Technologies (United States), Sailwider Electronics (China) and Efergy Technologies Limited (Spain).
Segmentation Overview
AMA Research has segmented the market of Global Energy Monitor market by Type (In-House Display, Smart Thermostat, Smart Plug and Others), Application (Residential, Commercial and Industrial) and Region.
On the basis of geography, the market of Energy Monitor has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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 End-Users, the sub-segment i.e. Oil and Gas will boost the Energy Monitor market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancements in the field of Energy Monitoring is Creating a Trend Booster such as AI, Machine Language
Market Growth Drivers:
The energy resource management is a major is one of the major driving factors. These activities minimize the environmental impacts of energy production. Hence, electric energy consumption monitoring has been proposed as an important process that makes immediate reductions in energy use and CO2 emissions. Moreover, in the past years, advances in electronics have allowed the implementation of many technological solutions to provide a better monitoring system.
Challenges:
Fragmented Stakeholder in this Industry is Creating a bit Challenging
Restraints:
Concern Related to Financial Barriers and Limited Expertise in term of this Industry
Opportunities:
Rising Government Policies to Provide Clean Energy and Increasing Usage of these Devices in Oil and Gas Segments is providing an opportunity
Market Leaders and their expansionary development strategies
In October 2022, ABB acquired ASKI Industrie Elektronik GmbH (ASKI Energy) of Austria further expanding ABB’s digital energy management portfolio and accelerating the development of ABB’s ecosystem of digital energy services.
In April 2023, TP-Link launched the KP125MP, a new smart plug that is Matter-compatible. This means that you can set up the plug using the Google Home app or other Matter-compatible apps, but the latter does limit the functionality.
Key Target Audience
Energy Monitor Manufacture, Energy Monitor Distributors, Potential Investors, Government Organization 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.