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.
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.
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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.