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Energy Management Software Market Segmentation by Software (Cloud Based, On Premise); by Solution (Carbon Management System, Utility Billing System, Customer Information System, Demand Response Management and Others); and by End-use Application (Power & Utilities, Public Sectors, Office & Commercial Building, Industrial Manufacturing, Automotive, Oil & Gas and Others) – Global Demand Analysis and Opportunity Outlook 2021-2029

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Extensive insights into the Growth of Energy Management Software Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Global Energy Management Software Market Highlights 2020-2029

Global demand for energy is increasing rapidly due to growing population and economic growth in emerging market economies. Rising demand creates new challenges such as energy security concerns can occur as more consumers require more energy resources ever, and higher usage of fossil fuels leads to higher carbon emissions, which contribute to global warming. At the same time, in rural areas access to electricity remains unacceptably high. But such challenges can create opportunities.

A sustainable energy future will require innovative developments and new practices – essentially transforming the energy management system to produce, deliver and consume energy. If we aim to raise living standards and electricity access for all, we need to adopt modern energy services solutions, use energy more efficiently and ensure reliable energy supplies. Energy management software system is designed to reduce energy consumption, improve the utilization of the system, increase reliability, predict electrical system performance, and optimize energy usage to reduce cost.

Energy Management Software Market

On the basis of software, the market is segmented into cloud-based and on-premise, out of which the cloud-based segment is anticipated to grab the most significant share by the end of 2021 on account of reduced hosting cost, and efficiency & availability of computing resources.

On the basis of solution, the carbon management system segment in the energy management software market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the fact that human activity increased the concentration of carbon emission in the atmosphere; thus, this system needs to be managed efficiently. CLICK TO DOWNLOAD SAMPLE REPORT

Global Energy Management Software Market Regional Synopsis

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the increasing demand for energy and awareness about the carbon management system in the region. Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the adoption of software and systems that reduce energy consumption, improve the utilization of the system, increase reliability, increase electrical system performance, and optimize energy usage to reduce cost. The market in Europe is also anticipated to occupy a significant share in the energy management software market on account of its policies and regulatory norms that mandated the use of energy management software, to lower the carbon emission rate. The most important driver for energy management software is digital transformation and automation.

Energy Management Software Market

The global energy management software market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global energy management software market includes the following segments:

By Software

  • Cloud Based
  • On Premise

By Solution

  • Carbon Management System
  • Utility Billing System
  • Customer Information System
  • Demand Response Management
  • Others

By End-use Application

  • Power & Utilities
  • Public Sectors
  • Office & Commercial Building
  • Industrial Manufacturing
  • Automotive
  • Oil & Gas
  • Others

Growth Drivers

  • Rising Demand for Energy Efficiency
  • Rising Adoption of Digital Transformation and Automation

Challenges

  • Mitigating the Risk of Data Security

Top Featured Companies Dominating the Market

  •  General Electric
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Honeywell International Inc.
  • IBM
  • Cisco Systems, Inc.
  • SAP SE
  • Schneider Electric
  • ICONICS
  • CA Technologies

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