The global industrial energy efficiency services market research report by Technavio predicts the market to post a CAGR of close to 6% during the period 2019-2023.
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Technavio has released a new market research report on the global industrial energy efficiency services market for the period 2019-2023. (Graphic: Business Wire)
A key driver for the global industrial energy efficiency services market is the growing awareness of environmental impact and sustainability. The development and use of energy-efficient technologies are becoming the major focus for sustainable development practices globally. The energy that is consumed or the amount of fuel that needs to be burnt in any industrial premises is directly impacted by the increase in the adoption of energy-efficient systems. A reduction in energy production results in lower fuel consumption and lesser emissions.
This global industrial energy efficiency services marketresearchreportalso provides an analysis of the most important trends expected to impact the market outlook during the period 2019-2023. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the growing adoption of IoT to leverage the energy efficiency potential as one of the key trends in the global industrial energy efficiency services market:
Global industrial energy efficiency services market: Growing adoption of IoT to leverage the energy efficiency potential
IoT will be the future technology adopted by utility companies and electricity aggregators to distribute power between grids and consumers. The benefits of IoT have been continuously increasing the adoption rate of smart devices into grids and consumer premises. The utility and electricity aggregators are focusing on implementing automation extensively to experience control over transmission and distribution systems over the Internet.
"The electricity aggregators are planning to deploy two-way communication devices in demand response programs. The two-way communication devices can use Wi-Fi or cellular networks to couple with smart data analytics and engineering. Additionally, they can offer valuable insights to utilities and electricity aggregators," says a senior research analyst at Technavio.
Global industrial energy efficiency services market: Segmentation analysis
This industrial energy efficiency services market analysis report segments the market by service (EA&C, M&V, and P&SO) and geography (the Americas, APAC, and EMEA).
The EA&C segment held the largest industrial energy efficiency services market share in 2017, accounting for around 43% of the market. This segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2018 with more than 45% of the market share, followed by EMEA and APAC respectively. The Americas is expected to dominate the market throughout the period 2019-2023.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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