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The Europe Energy Tracking and Monitoring System Market Size would grow at a growth rate of 12.3% CAGR during the forecast period.
European countries that are included in the study are U.K, Germany, Italy, France, Russia, Spain and others. Europe is the second largest market for energy tracking and monitoring system. Improving economic conditions in the European region has influenced the adoption of energy tracking and monitoring systems, including industrial, building and home energy tracking and monitoring systems. Rising energy prices and cost associated in the production indicate that European businesses have reduced their energy intensity in the recent years.
European government has passed 20:20:20 policy, where European countries have to reduce 20% of their greenhouse gas emissions, raise their energy efficiency by 20% and lift up the share of renewable energy sources up to 20% by 2020. This has propelled the industrial sector to adopt renewable energy sources as an alternative for traditional energy sources. These policies are expected to boost the energy tracking and monitoring systems market in the European region. As energy efficiency has become an important factor for the competitiveness in the World market, industrial sector would adopt energy tracking and monitoring systems to manage its energy consumption.
More innovative products in energy tracking and monitoring systems industry, paired with policies from regulatory authorities, would lead to an increased adoption of energy tracking and monitoring solution in this region. The report segments the Europe 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 Europe market into the residential and commercial sector. The report also highlights the market of energy tracking and monitoring systems across different countries which include Germany, the UK, France, Russia, Spain, Italy, and Rest of Europe. 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.