The energy portfolio management market is estimated to reach US$ 12,947.66 million by 2033, surging from US$ 4,022.80 million in 2023.
The growing popularity of the adoption of renewable energy sources creates many opportunities in the energy portfolio management market. But energy portfolio management solutions are expensive, creating barriers for small and entry-level businesses. As the energy market is constantly changing, which is a threat to the energy portfolio management market.
Market Opportunities
The energy portfolio management market is growing with an impressive CAGR value of 12.4%, which creates many opportunities to grow in this market. There is a growing adoption of renewable energy sources like solar and wind power, which creates opportunities in the energy portfolio management market.
Many businesses are focusing on sustainability, and energy portfolio management helps businesses to offer sustainability goals and also helps companies to save money on their energy bills.
- Total Valuation of Energy Portfolio Management Systems:
- The global energy portfolio management market is valued at approximately US$ 4,022.8 million in 2023.
- Leading End-user Segment:
- In 2022, the industrial sub-type segment was the leading end-user segment, generating the highest revenue in the energy portfolio management market.
- Market Share of Europe:
- Europe accounted for about 20.6% of the global energy portfolio management market in 2022.
- Contribution of North America:
- North America contributed 32.6% to the global energy portfolio management market revenue in 2022, making it a significant player in the market.
- Leading Challenge for the Market:
- One of the primary challenges facing the energy portfolio management market is the high implementation and deployment costs, which could hinder widespread adoption.
Key Takeaways
- The energy portfolio management market is expected to grow from an estimated US$ 4,022.80 million in 2023 to US$ 12,947.66 million by 2033.
- The energy portfolio management market is expected to record a CAGR of 12.4% from 2023 to 2033, driven by the increasing demand for energy efficiency and the growing adoption of renewable energy sources.
- India is a leading market for energy portfolio management due to the government’s focus on sustainable energy and the growing demand for energy security.
- China is the leading energy portfolio management market driven by the country’s rapid economic growth and the need to reduce its reliance on fossil fuels.
- Europe is a growing market for energy portfolio management, in which businesses look for ways to reduce their carbon emissions and meet their sustainability goals.
- North America is a mature market for energy portfolio management. However, there is still room for growth as businesses adopt new technologies and strategies to manage their energy portfolios sustainably.
Competitors Winning Strategies
Competitors in the energy portfolio management market are working on many strategies, such as making new products and services for offering their customers in a new way, and it is also important for businesses, so they are investing in this. They are partnering with other firms and markets; with this, they get a wider range of services to offer their customers. Also with this, they get new customers from other markets.
They are also focusing on customer service and trying to give 24/7 service, which is also important as it helps customers clear their issues and queries and helps them get loyal customers.
ABB, Cisco, EnerNOC, Google Cloud, IBM, Schneider Electric, and Uplight are some energy portfolio management market competitors.
Recent Developments
- ABB:Acquired Green Mountain Energy, a leading United States renewable energy supplier, to extend its energy portfolio management solutions.
- Cisco:Partnered with Schneider Electric, a prominent energy management solutions supplier, to create innovative energy portfolio management solutions.
- Google Cloud:Launched a new energy portfolio management solution to assist organizations handle energy portfolios in the cloud.
- Microsoft:Worked with Uplight, a renowned energy management software supplier, to offer new energy portfolio management solutions for Microsoft Azure clients.
Key Segments Covered In The Energy Portfolio Management Industry Analysis
Energy Portfolio Management Market by End User:
- Residential
- Industrial
- Commercial
Energy Portfolio Management Market by Deployment:
- Cloud
- On-premises
Energy Portfolio Management Market by Region:
- North America
- Latin America
- Europe Energy
- Asia Pacific Energy
- The Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube