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.
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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.
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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.