Energy Intelligence Solutions Market - Global Industry Analysis, Size, Share, Growth, Trends 2024
Global Energy Intelligence Solution Market: Overview
Global
energy consumption is increasing rapidly as the world economy continues
to evolve and flourish and population rises exponentially. A recent
report published by the U.S. Energy Information Administration stated
that global energy consumption is likely to increase by nearly 50% by
2040. Energy consumption will rise in developing regions such as Asia
Pacific, where long-term and relatively strong economic growth along
with high population density is driving demand for energy. The mature
industrial sectors in developed parts of the world are driving sustained
growth in energy consumption.
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The
global power generation industry is stretching its capacity to fulfill
the present energy demand. Power generation capacities are rising
relatively very slowly when compared to the rate at which the global
power needs are rising. Thus to bring about a proper balance between
this production and consumption ratio, a pressing need for introducing comprehensive energy management systems across domestic and industrial settings is witnessed.
Energy
intelligence solutions, the software products, tools and services that
deliver users the ability to collect data pertaining to energy
consumption across a facility, are currently the best and most
comprehensive energy management systems in the market. Energy
intelligence systems are better than conventional energy management
software on two fronts. Firstly, energy intelligence systems are not
only visualization tools for collecting meter data, but are tools that
suggest ways of reducing energy wastage. Secondly, these systems provide
advanced domain knowledge for utilizing the collected energy data for
efficient energy management.
The
report on energy intelligence solutions gives a thorough overview of
the major elements of the market and outlines the key opportunities and
challenges that are expected to affect the adoption of these solutions
across key end-users. The report examines the current state of
development of the market and predicts the market growth for the period
2016 to 2024 across major regional markets. An in-depth account of the
competitive landscape of the market is also included in the report.
Global Energy Intelligence Solution Market: Growth Drivers and Segmentation
Major
factors driving the adoption of energy intelligence solutions are
rising consumer awareness about the need to save power as a way of
reducing personal electricity bills as well as the carbon footprint of
the power generation industry, stringent government regulations
pertaining to CO2 emissions, and the rising cost of electricity.
Adoption of energy intelligence solutions help energy-intensive
industries reduce electricity bills. This is another factor propelling
the market.
In
order to provide an in-depth analysis, the market has been segmented
based on service type, deployment model, end-user, and geography.
Based
on service type, the global energy intelligence solution market has
been segmented into system integration service, support and maintenance
service, and consulting services. The key modes of deployment of energy
intelligence solutions examined in the report are on-premise and
cloud-based deployment. Major end-users of energy intelligence solutions
are commercial and office spaces, residential buildings, and industries
such as iron and steel, petroleum refining, chemicals and
petrochemicals, textile, automobile, cement, and paper and pulp.
Global Energy Intelligence Solution Market: Region wise Outlook
Asia
Pacific and Latin America offer lucrative opportunities in the global
energy intelligence solutions market as these regions are expected to
witness the highest growth in energy consumption during the forecast
period. North America dominates the global energy intelligence solutions
market, followed by Western Europe. High awareness about energy
conservation, rising electricity prices, and stringent regulations
regarding CO2 emissions have compelled companies in these regions to
adopt energy intelligence solutions.
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Global Energy Intelligence Solution Market: Key Players
The
highly competitive global market for energy intelligence solutions
features several big companies. These include Rockwell Automation,
EnerNOC, Inc., GridPoint, Inc., and Schneider Electric.
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