Energy Management Market Scope
Energy management refers as a process of tracking and monitoring energy to conserve usage in business, public sector, government sector, organisations, and homes. The controlling and reducing energy consumption is important because it enables to reduce costs, which is becoming increasingly important as energy costs are rising. The market for energy management is growing due to the massive growth of the oil & gas industries, while the concern is growing towards reducing the carbon footprint and reuse of the waste. But there are some aspects which are hindering the market, for example, due to the poor infrastructure and cyber threats associated with the software
According to AMA, the Global Energy Management market is expected to see growth rate of 15.2%
Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Energy Management market throughout the predicted period.
Asea Brown Boveri (ABB) Ltd. (Switzerland), C3 Energy (United States), CA Technologies - A Broadcom Company (United States), Cisco Systems, Inc. (United States), Daikin Industries Ltd. (Japan), Siemens AG (Germany), Schneider Electric SE (France), Toshiba Corp. (Japan), General Electric Company (United States), Gridpoint, Inc. (United States) and Honeywell (Japan) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Johnson Controls, Inc. (United States), Jones Lang Lasalle (United States), Daintree Networks (United States) and Emerson Process Management (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Energy Management market by Type (Building energy management, Industrial energy management and Home energy management), by Application (Energy generation, Energy transmission and Energy monitoring) and Region with country level break-up.
On the basis of geography, the market of Energy Management 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).
Market Leaders and their expansionary development strategies
Schneider Electric collaborated with ENGIE, to digitize the energy sector. The joint initiative was taken to explore and deploy new digital solutions for improving the operational efficiency of renewable assets, such as solar PV and wind, leveraging supervisory control and data acquisition
Daikin Industries, Ltd.and Hitachi, Ltd. announced that they will start a joint demonstration to digitalize quality control know-how in the reaction process of chemical manufacturing, especially in fluorochemicals
In December 2015, The Paris agreement was signed by 175 countries with the objective of minimising the emission of carbon dioxide globally by 28% till 2025 and Governments of North America and Asia Pacific, and a few rapidly developing countries such as Japan, have been taking additional efforts in the regularization and standardization of industrial energy management systems
Market Trend
- Increasing Usage Of Smart Grids And Smart Meters
- Innovative Financing For Solar Power As Well As Reduction In Installation Costs Is Trending In Solar Energy
Market Drivers
- The Massive Growth Of The Oil & Gas Industries
- Vendors In The Regional Market Are Focusing On Adoption Of Advanced Technologies To Offer Visibility To Data Related To Environment And Energy Management
- Growing Concerns Towards Reducing The Carbon Footprint And Reuse Of Waste
Opportunities
- Concerns Call For Efficient Energy Management, Which Has Prompted Many Countries To Generate Electricity Through Renewable Sources
Restraints
- Lack Of Skilled Resources Affecting The Adoption Of Software By SMEs
- Lack Of Standards, And Relatively Poor Awareness Of Green Energy Initiatives
Challenges
- The Long Payback Period Of EMS Solutions
- Poor Infrastructure And Cyber Threats Related To Software
- Lack Of Technological Awareness And Apprehensions Regarding Privacy & Security
Key Target Audience
Energy Management developers, Original equipment developers, Government agencies, Energy Management vendors, Energy Management providers, Independent Energy Management vendors, Consulting firms, System integrators, Research institutes and organizations, Technology standards organizations, Technology investors, Research institutes and Research/Consultancy firms