Energy intelligence solutions market are expected to have a global worth US$ 4.6 billion in 2022 and US$ 6.1 billion in 2032. It will grow at a CAGR of 15.2% from 2022 to 2032, according to the estimate. The increasing desire for smart metres to begin two-way communication between customers and enterprises will drive sales of energy intelligence products.
Energy management solutions increasingly include energy intelligence solutions. It has two advantages over energy management software. First, in addition to being a tool for evaluating metre data, it offers intelligence to prevent energy waste.
Furthermore, it offers comprehensive subject-matter expertise for managing energy using the obtained energy data. Support for open standards, the ability to measure and verify results, insights, and analysis of recorded data, portability and accessibility, automation and control, and an integrated platform are all features of energy intelligence solutions. Food and beverage, automotive, metal manufacturing, oil and gas, petrochemicals, electronics and telecommunications, utilities, and other industries employ energy intelligence systems.
Global Energy Intelligence Solution Market Segmentation
On the basis of service type, deployment model, and end-user, the global market for energy intelligence solutions is divided into subgroups. The global market for energy intelligence solutions is divided into three categories based on service types: consultancy services, support & maintenance services, and system integration services. There are two categories of deployment for energy intelligence solutions: on-premises deployment and cloud-based deployment.
Energy intelligence solutions help with energy savings across numerous industry sectors. Residential structures, office and commercial spaces, manufacturing facilities, and other buildings are among the end customers of energy intelligence solutions.
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 legislation and standards. Energy intelligence solutions provide competitive advantage to business and extend its responsibility toward sustainable economic development.
The 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 a highly competitive and diversified market, characterized by active presence of many big players. EnerNOC, Inc., Rockwell Automation, Schneider Electric, and GridPoint, Inc are some of the major players in the 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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