Global energy management industry is anticipated to grow at a CAGR of around 20% during the forecast period of 2015-2020, says RNCOS.
Smart meters are a new kind of energy meter. This new generation of meter is a replacement for the existing meter and sends electronic meter readings to the energy supplier automatically. They come with in-home displays, which give the real-time feedback on customers’ energy usage and costing. A smart meter works by communicating directly with the energy supplier, so the company will always have an accurate meter reading and the user does not have to take a meter reading himself. Moreover, smart meters can work in a variety of different ways, including using wireless mobile phone type technology to send data.
Better oversight and management of the energy use with a real-time data display at home is driving the smart meter demand in the global market. Energy management solutions were introduced in the market for adjusting and optimizing energy using systems and procedures to reduce energy requirements per unit of output at the same time reducing the total cost of producing the output from these systems. With the smart meters in buildings and homes, owners save cost and have transparency to all aspects of study meter reading in an instant, where there are significantly fewer monitoring visits and immediate access to reports. On the backdrop of this growing smart meter demand, the energy management systems market is forecasted to grow at a CAGR of around 20% during 2015-2020.
The report, “Global Energy Management Systems Market Outlook 2020”, which is spread over 100 pages, covers extensive research and thorough analysis of the energy management solutions market across the globe. It also presents a critical analysis and an unbiased view into the state of the global e-clinical solutions industry, including the current and future market size and its application in various sectors. It includes various energy management equipment like sensors, smart meters, smart thermostats and software applications in home energy management, building energy management and industrial energy management.
The report also features a thorough analysis of North America, Europe, Asia Pacific, Latin America, and Middle East and African market including the major countries which throws a light on current market scenario and future market potentials of energy management systems there. Moreover, our study also looks into the key players in the global market including their business overview, key financials and recent developments. Overall, the report will facilitate clients in analyzing the driving forces and understand the existing opportunities in the industry.