An industrial energy monitoring is a system of computer-aided tools used by operators of electric utility grids to monitor, control, and optimize the performance of the generation or transmission system. It can be used in small scale systems such as microgrids. It is one of the emerging technologies that enable an organization to collect real-time information on the energy use through monitoring, assessing, and visualizing energy consumption. This concept not only monitors energy consumption however also helps make data driven decisions and enhance enterprise-level operation & financial decisions.
MARKET SCOPE
The "Global Industrial energy monitoring Market Analysis to 2028" is a specialized and in-depth study of the industrial energy monitoring market with a special focus on the global market trend analysis. The report aims to provide an overview of industrial energy monitoring market with detailed market segmentation by type, end-user, and geography. The global industrial energy monitoring market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading industrial energy monitoring market players and offers key trends and opportunities in the industrial energy monitoring market.
MARKET SEGMENTATION
-The global industrial energy monitoring market is segmented on the basis of type, end-user.
-On the basis of type, the market is divided into hardware, and software.
-On the basis of end-user, it is fragmented into pharmaceuticals manufacturing, automotive manufacturing, and paper and pulp manufacturing.
Drivers
-Growing demand for energy management systems in commercial sectors is expected to drive growth of the global energy management system (EMS) market during the forecast period.
-Constant increase in regulatory obligations and industry guidelines is expected to propel the global energy management system (EMS) market over the forecast period
-Lack of awareness related to environmental initiatives.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The industrial energy monitoring market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the industrial energy monitoring market in these regions.
IMPACT OF COVID-19 ON INDUSTRIAL ENERGY MONITORING MARKET
The industrial energy monitoring market size has grown significantly in recent years. However, due to the outbreak of the COVID-19 pandemic, the market experienced a sharp decline in 2020. This is due to the diminished energy usage in heavy industries such as petroleum, coal, and natural gas. This has led to deflated energy demand across the key economics including U.S., Italy, Germany, UK, and others. However, the market has survived owing to surge in demand from the household energy consumption. The imposition of lockdown has increased home activities such as online shopping, remote work, powering home appliances, cooling or heating home, and streaming entertainment services. Therefore, the application of energy management systems in household energy consumption has increased the demand in the market during the COVID-19 pandemic, having a positive impact on the market.
MARKET PLAYERS
The report covers key developments in the industrial energy monitoring market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from industrial energy monitoringmarket market are anticipated to lucrative growth opportunities in the future with the rising demand for industrial energy monitoring market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Industrial energy monitoring market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
-Siemens AG,
-Honeywell Inc.
-General Electric Company
-Emerson Process Management
-Elster Group GmbH
-Daintree Networks
-Schneider Electric
-C3 Energy
-Daikin Industries
-Gridpoint Inc.