Predictive Energy Management System: Introduction
- Predictive energy management system helps manage the consumption of energy to perform different operations. The system provides information about the energy consumption in advance. The predictive energy management system can reduce power consumption and consequently, save energy.
- Increase in penetration of electric vehicles across the globe is likely to significantly boost the global predictive energy management system market
Key Drivers of Predictive Energy Management System Market
- Rise in energy consumption across industrial and residential sectors across the globe is likely to propel the predictive energy management system market across the globe. Rise in energy costs is prompting industries to develop smarter ways to utilize energy efficiently. However, investments by governments are increasing in order to enhance energy standards and reduce carbon footprint. This, in turn, is anticipated to propel the predictive energy management system market across the globe.
- Rise in adoption of Internet of Things (IoT) technology in the industrial, residential, and commercial sectors is anticipated to increase the utilization of smart energy management system, which in turn is likely to propel the predicative energy management system market across the globe. Enactment of regulations and policies to reduce carbon footprint propels the predictive energy management system market across the globe.
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North America & Asia Pacific to hold significant share of global predictive energy management system market
- North America is projected to account for a major share of the global predictive energy management system market due to a rise in the demand for energy optimization and carbon management system across the region. North America has presence of key players including General Electric Company and Honeywell International who have major facilities that provide predictive energy management solutions, which is likely to propel the predictive energy management system market across the North America.
- Followed by North America, Asia Pacific is projected to hold a significant share of the global predictive energy management system market due to an increase in rate of adoption of new technologies in the service market across the region. Presence of leading solutions providers across Asia Pacific is anticipated to further propel the predictive energy management system market in the region.
Key Players Operating in Predictive Energy Management System Market
The predictive energy management system market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the predictive energy management system market are:
- Siemens AG
- General Electric
- Itron Inc.
- CA Technologies
- VDE Verlag GmbH
- NEC Corporation
- Denso Corporation
- ABB Inc.
- Energate Inc.
- Elster Group GmbH
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Global Predictive Energy Management System Market: Research Scope
Global Predictive Energy Management System Market, by Software
- Residential Energy Management System
- Industrial Energy Management System
- Utility Energy Management System
Global Predictive Energy Management System Market, by Component
- Smart Thermostat
- In- House Display
- Load Control Switches
Global Predictive Energy Management System Market, by End-use
- Power & Energy
- Telecom & IT
- Commercial and Office Buildings
Global Predictive Energy Management System Market, by Region
- North America
- Nordic Region
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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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
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