The size of the global market for energy intelligence solutions is anticipated to be US$ 4.6 billion in 2022 and US$ 6.1 billion in 2032. In the forecast period from 2022 to 2032, it is anticipated to demonstrate growth at a CAGR of 15.2%. The Energy intelligence solutions provide an intelligent way to deal with energy crisis. Energy intelligence solutions includes tools and services which collect and analyse the energy data. Energy intelligence solutions can be considered as advanced form of energy management solutions. As compared to energy management software, it provide two fold benefits; first it is not only a visualization tool for meter data but also provides intelligence to reduce energy waste.
Second, it offers advanced domain knowledge to utilize collected energy data for energy management. Energy intelligence solutions provides support for open standards, measure and verify results, insights and analysis of recorded data, accessibility and portability, control and automation, an integrated platform. Energy intelligence solutions finds applications in food & beverages industry, automotive industry, metal manufacturing industry, oil & gas industry, petrochemicals, electronics & telecommunication industry and utilities etc.
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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. 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.
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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.
Key Segments Profiled in the Energy Intelligence Solution Industry Survey
By Service Type:
- Support and Maintenance Service
- Consulting Services
- System Integration Service
By Deployment Model:
- Cloud-based
- On Premise
By Industry Vertical:
- Manufacturing Units
- Offices and Commercial Areas
- Residential Buildings
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East and Africa
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