North America Energy Tracking and Monitoring System Market By Type (Industrial, Building, Home), End User (Commercial, Residential), Application (Power & Energy, Manufacturing, Retail, Telecom & IT, Healthcare)
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Market Report Description
The North America Energy Tracking and Monitoring System Market Size is poised to grow at a market growth rate of 10.8% CAGR during the forecast period.
Within the North America energy tracking and monitoring systems market, U.S. holds almost 90% of the market, with major companies having their headquarters in the US. In North America, the market has grown owing to the wide range of application areas for the energy tracking and monitoring. The US market is regarded as the largest market for any technologically driven products or solutions. Increased adoption of energy tracking and monitoring solutions within industries including commercial buildings, power and energy and manufacturing sectors contribute to the growth of the energy tracking and monitoring systems market in this region. The region would continue to be the most dynamic economies even in the future.
As per a research, about 35% of US home owners are willing to bundle HVAC maintenance services with their electricity services and approximately 25% percent would bundle internet and electricity services, which would further contribute to awareness levels of energy tracking and monitoring in this region. General Electric and Schneider are the major suppliers of energy tracking and monitoring solutions in this region. GE offers smart metering, utility operation systems and other energy tracking and monitoring related products to the end consumers in the North American region. Other companies operating in the market include Siemens and Johnson Control, Inc. The report segments the North America 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 North America market into residential and commercial sector.
The report also highlights the market of energy tracking and monitoring systems across different countries which include US, Canada, Mexico, and Rest of North America. 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.