The market for energy portfolio management is expected to grow from US$ 4,022.80 million in 2023 to US$ 12,947.66 million by 2033.
The market for energy portfolio management is expanding as a result of the rising acceptance of renewable energy sources. However, the high cost of energy portfolio management systems puts small and startup companies at a disadvantage. The market for energy portfolio management is threatened by the energy industry’s ongoing change.
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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.
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.
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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
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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