Global Energy Management Solutions Expand
According to Global Building Energy Management Solutions Market Forecast & Opportunities, 2018, the market revenues of global building energy management solutions are forecast to grow at a rate of about 19 percent during 2013-18.
The TechSci Research report says that North America accounts for the majority of the demand due to various policy initiatives taken by the governments coupled with growing number of smart buildings. However, the market in other regions is expected to grow faster. Energy management solutions are largely being driven by the growing demand in enterprises/offices and retail applications on account of rapid urbanization, construction of new buildings, increasing IT spending, and increasing adoption of energy efficiency.
The expected adoption of renewable energy technologies like roof-top solar photovoltaic power plants, wind farms and energy efficient hardware will drive the market over the next five years. The companies involved in providing energy management solutions are predominantly focusing on new buildings against retrofit solutions, as the former offers comparatively higher energy saving potential. In addition, installation of energy management solutions in new buildings is relatively simpler.
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