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The Asia Pacific Energy Tracking and Monitoring System Market Size is anticipated to experience a market growth rate of 17.8% CAGR during the forecast period.
Asia Pacific region constitutes of emerging countries such as China, India, South Korea, Indonesia, and Thailand among others. Asian countries have started implementing energy efficient measures, depending on energy price, awareness level, and government initiatives. Decrease in energy subsidy in the region and consistent increase in energy cost would drive the rapid demand for energy efficiency solutions, including energy tracking and monitoring systems. Countries within the Asia-Pacific region are expected to be one among the prominent adopters of energy tracking and monitoring solutions in years to come.
This would be largely due to increasing energy prices, growing consumer awareness about the associated benefits of energy tracking and monitoring solutions and government initiatives to popularize cheap energy resources. Opportunities for setting up new industrial setup in the region would be ample, increasing the overall demand for energy management solutions. Technologies such as Software as a Service (SaaS) and use of wireless devices are on the rise in this region, this would further add to the efficiency of energy tracking and monitoring systems.
The report segments the Asia-Pacific Energy tracking and monitoring market by type, application, end-user and region. By type, the market is segmented into home energy tracking and monitoring, building energy tracking and monitoring and industrial energy tracking and monitoring systems. Industrial Energy tracking and monitoring system dominated the market in 2014. Home Energy tracking and monitoring segment however is expected to register the highest CAGR during the forecast period. Power and energy, manufacturing, IT and telecom, retail, healthcare and others such as educational institutions and residential buildings are the major application areas of Energy tracking and monitoring. Power and energy was the highest revenue generating application segment in the market.
Based on end-user, the study analyses the Asia-Pacific market into residential and commercial sector. The report also highlights the market of energy tracking and monitoring systems across different countries which include China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia-Pacific. The report covers the analysis of key stake holders of the energy tracking and monitoring system market. Key companies profiled in the report include Schneider Electric SE, Honeywell International, Inc., Johnson Controls, Inc., Siemens AG, C3 IoT, General Electric Company and others.