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Monitoring and control services segment is anticipated to hold the largest market share in the projected period. Owing to the advancements in technologies such as IoT, artificial intelligence, machine learning, and big data analytics, ubiquitous opportunities have been emerged for developing smart energy management systems.

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However, due to the presence of several devices, and sensors integrated with the energy management systems, there is a need for monitoring and control services. Information acquisition and processing would help organizations in making intelligent business decisions based on the data, which would lead to efficient energy management.

This will boost the market growth of monitoring and control services. Rapid developments in the wireless sensor network platform and cloud computing has driven interest of service providers in cloud-based solutions for energy management systems. Such services would provide intelligent energy management solutions. Innovations and research in cloud-based monitoring and control services remain competitive across industries.

The oil and gas industry contributes to a significant share in meeting global energy needs. The oil and gas industrial activities mainly include extracting, processing and marketing fuels. This also accounts for a remarkable share of global primary energy use. Energy management systems help as a powerful environmental tool by reducing the carbon intensity in processes and reducing carbon emissions in the atmosphere. This is why, oil and gas industries have heavily invested in deploying efficient technologies along the supply chain, and are planning to invest more in the future in enhanced energy management systems.

Enhancing energy efficiency is the primary need for the oil and gas industries. Efficient energy management would increase the life of non-renewable resources and help to keep energy affordable to consumers without increasing the operational cost and investments.

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Also, in other sectors such as manufacturing, building automation, etc. Growing population leads to the enormous consumption of energy and resources. This may lead to miserable and devastating environmental conditions. To get details on market share, speak to our analyst. Several states in North America have proposed energy efficiency resource standards, and some have introduced energy efficiency goals. The energy management system market size in the United States continues to be a growing market for energy analytics as well as energy certifications.

Also, as industries are socially pressurized regarding the environmental issues and in some cases, to uphold a certain amount of energy efficiency in buildings and business practices, energy management becomes a necessity.

Energy Management Supply and Conservation by Clive Beggs

In Canada, the energy efficiency act and regulations form the backbone of national energy regulation that boosts businesses to manage their energy use more effectively. Canada industry program for energy conservation of natural resource helps industries to improve their energy management capabilities. The European energy efficiency directive promotes a common framework of measures for the promotion of energy efficiency in the European Union.

However, long payback periods, uncertain energy prices, lack of relevant and understandable information for investors, etc. However, due to a set of barriers these types of models are not yet generalized. The main barrier seems to be the lack of awareness and information on the complexity of the ESCO concept, leading to distrust by end-users and also by financial institutions. Other aspects that hinder ESCO market deployment include legal and political barriers, such as erratic legislation, lack of official or generally accepted ESCO definition, certification and standards; ambiguous legislation and lengthy procurement; financing limitations, like problems with bank financing, aversion to loans by potential ESCO clients and high transaction costs.

Energy: Management Supply & Conservation Second Edition by Beggs Clive | eBay

At the same time, there are several stakeholders involved in this model with interests that may differ, such as the ESCO, facility manager, maintenance responsible party, retrofit advisor, building owner and occupants. Consequently, establishing a win-win cooperation between these stakeholders is critical. The Living Lab involving 25 ESCOs from various EU countries is an environment for experience sharing towards user-driven open innovation, oriented to: widely disseminate the project outcomes to stakeholders for generating a broad awareness and engagement in the project activities; create opportunities for further exploitation and replication of results; obtain feedback from the stakeholders and optimize all developments, directly addressing their critical needs.

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