Market Management Solutions for Energy - Overview
Energy Management Systems is a solution including software and associated hardware and communication systems for energy efficiency improvement. Market management solutions have wide applications areas spread across different verticals such as telecom and IT, power and energy, commercial and office buildings, manufacturing, and hospital, municipal, school and university Systems. The market management solutions for energy market is highly fragmented with various offerings extending from simple to complex energy monitoring dashboards and software including analytics of high degree.
Market Management Solutions for Energy - Drivers & Restraints
The adoption of market management solutions for energy depend mainly upon rigorous government regulations regarding conservation and energy efficiency coupled with market awareness of end-users regarding the importance of energy conservation and improving profits. However, there are multiple factors hindering the growth of the market such as during economic slowdowns energy management automatically takes the back seat and because of financial limitations application of market management solutions gets converted into a secondary goal. The organization focuses more on production than on energy efficiency in the business setups. Creating awareness among end users about energy management can be challenging as end users and the enterprises are more concern about initial cost than on long term benefits.
Market Management Solutions for Energy - Segmentation
The market can be segmented by software types into industrial, utility, residential, enterprise energy and carbon management, and others. The market is segmented in terms of devices into load control (LC) switches, in-home displays (IHDs), smart plugs and smart thermostats. Furthermore, by applications the market is segmented into home energy management systems (HEMS) and building energy management systems (BEMS); utility billing, Customer Information System (CIS) and solutions: demand response (DR). In addition the market is segmented by business vertical on the basis of implementation into energy and power, commercial and office buildings; Municipal, University, School and Hospital Systems (MUSH); IT and telecom and manufacturing.
Market Management Solutions for Energy - Key Players
The major players in this market are GE Corporation, Siemens AG, Schneider Electric, Honeywell International Inc., among others.
On the regional basis the global market management solutions for energy market has been categorized into North America, Europe, Asia Pacific, Middle East & Africa and South Africa. North America is expected to hold a prominent share of the global market management solutions for energy market, followed by Europe in 2018. This trend is expected to continue in the forecast period. A number of factors such as the increasing demand for new advanced security systems, technical breakthroughs in the field of energy and power generation, supporting government regulations, increasing adoption of IoT and related services are driving the growth of the market in North America and Europe. The market in Asia Pacific is expected to grow at a faster rate between 2018 and 2026. Developing economies in Asia, such as India and China are inviting global players to enter their market, which is in-turn supporting the growth of overall market management solutions for energy market.
In the current scenario, the global market management solutions for energy market is highly fragmented. However there is presence of few well established players having strong distribution network. Also, these players have deeply penetrated into the market management solutions for energy market by introducing innovative and technologically advanced products. The companies are strengthening their position through merger & acquisition and continuously investing in research and development (R&D) activities to come up with solutions to cater the customers’ requirement. Furthermore, vendors are planning to invest in advanced technologies with a target to provide cost competitive product in the market.
The prominent industry vendors of the distributed energy resource management system systems market are ABB Ltd, Sunverge Energy, Inc, Blue Pillar, Inc., Enernoc, Inc., Autogrid Systems, Inc., Siemens AG, General Electric, Open Access Technology International, Inc., Spirae, Inc., Schneider Electric, Enbala Power Networks, Inc. and Doosan Gridtech, Inc.
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