The global market for energy intelligence solutions is estimated to reach $4.6 billion in 2022 and $6.1 billion in 2032. It is expected to increase at a CAGR of 15.2% over the projected period of 2022 to 2032.
Energy intelligence solutions are expected to have a global market worth US$ 4.6 billion in 2022 and US$ 6.1 billion in 2032. It is expected that during the forecast period of 2022 to 2032, it would expand at a CAGR of 15.2%. Energy crisis management is made intelligent by the energy intelligence solutions. Energy data collection and analysis tools and services are part of energy intelligence solutions.
Energy management solutions have evolved to include energy intelligence solutions. When compared to energy management software, it offers two advantages: first, it isn’t only a tool for seeing metre data; it also offers intelligence to cut down on energy waste.
Second, it provides sophisticated domain expertise for using the gathered energy data for energy management. Solutions for energy intelligence offer support for open standards, the capacity to measure and verify outcomes, insights and analysis of recorded data, portability and accessibility, automation and control, and an integrated platform. Energy intelligence solutions are used in the food and beverage, automotive, metal manufacturing, oil and gas, petrochemicals, electronics and telecommunications, utilities, and other industries.
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Global Energy Intelligence Solution Market Segmentation
Global energy intelligence solution market is segmented on the basis of service type, deployment model and end-user. On the basis of service type, global energy intelligence solution market is segmented into – system integration service, consulting services, support & maintenance service. Energy intelligence solutions are segmented into two ways by which it can be deployed – on-premise deployment and cloud based deployment.
Energy intelligence solution provide assistance for energy saving along different industry verticals. Various end-users of energy intelligence solutions are residential buildings, offices & commercial areas, manufacturing units and others.
Global Energy Intelligence Solution Market: Region-wise Outlook
The global energy intelligence solution market is divided into seven geographical regions – North America, Latin America, Asia-Pacific Excluding Japan (APEJ), Japan, Eastern Europe, Western Europe and Middle East & Africa. The global energy intelligence solution market is expected to reflect a double-digit CAGR over the forecast period. At present, North America is dominating the market followed by Western Europe.
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Among all the regions, APEJ is expected to create huge market opportunity for major players operating in the energy intelligence solution market during the forecast period. Latin America and Middle East & Africa regions are reflecting comparatively slow growth during forecast period.
Global Energy Intelligence Solution Market: Drivers
Increasing energy consumption and rising need for advanced energy management solutions for residential, commercial and industrial areas are the prominent factors responsible for evolution of energy intelligence solutions. Organizations around the world are focusing on significantly reducing their energy consumption bills through efficient utilization of energy.
Energy intensive applications such as power & energy, industrial manufacturing and telecommunication need to control their CO2 emissions in order to comply with existing legislations and standards. Energy intelligence solutions not only provide competitive advantage to business but also extends its responsibility towards sustainable economic development.
Aforementioned are some of the factors that are expected to drive the global energy intelligence solution market growth in near future.On other hand, long period on return of investment, lack of knowledge and difficulties in handling technical issues related to energy intelligence solutions limits its full-fledged market growth.
Global Energy Intelligence Solution Market: Key Players
The energy intelligence solution market is highly competitive and diversified market, characterised by active presence of many big players. EnerNOC, Inc., Rockwell Automation, Schneider Electric, and GridPoint, Inc are some of the major players in global energy intelligence solution market.
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Key Segments Profiled in the Energy Intelligence Solution Industry Survey
By Service Type:
By Deployment Model:
By Industry Vertical:
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Energy Intelligence Solution Market review , outlook , forecast , demand , size , share , key trends , analysis , Research , overview
Jun 21, 2023
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