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Remote Renewable Management Systems Market - Global Forecasts and Opportunity Assessment by Technavio

According to the latest market study released by Technavio, the global remote renewable management systems market is expected to grow at a CAGR of almost 8% during the forecast period.

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Technavio has published a new report on the global remote renewable management systems market from 2 ...

Technavio has published a new report on the global remote renewable management systems market from 2017-2021. (Graphic: Business Wire)

This research report titled ‘Global Remote Renewable Management Systems Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

Conventional sources of energy, such as petroleum and coal, are considered as the major contributors to greenhouse gas emissions and global warming. Increasing consumption of energy, climate change, increased energy risks, and diminishing levels of easily accessible fossil fuels are driving investments in renewable sources of energy.

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Technavio’s analysts categorize the global remote renewable management systems market into three major segments by the application. They are:

  • Software
  • Hardware
  • Services

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Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

The top three segments based on technology for the global remote renewable management systems market are discussed below:

Global remote renewable management systems market by software

Smart energy management systems ensure that renewable sources are harnessed as effectively as possible. Improved cost savings and business efficiency are driving the market growth. The software segment contributes the maximum in the total market revenue, wherein licensing accounts for a major part of the overall software expenditure.

According to Anju Ajaykumar, a lead power research analyst from Technavio, “The energy management software is implemented in accordance with government policies related to energy conservation and consumer education, such as green building codes and Energy Star ratings by the Environment Protection Agency for energy efficient buildings.”

Global remote renewable management systems market by hardware

Hardware is an essential part of any energy management system. This segment has energy management programs that monitor and log energy usage patterns in industries. It includes communication network devices, such as gateways, bridges, routers, smart meters, switches, transmitters, and human-machine interface (dashboards).

“Solar generators are connected to main controllers through a wired communication system within the local perimeter. Wireless communication allows solar generators to communicate with the central SCADA system,” says Anju.

Global remote renewable management systems market by services

An extensive service system ensures the effective implementation of remote energy management systems. Services, such as consulting, maintenance, and system integrators, reduce the overall cost of the project by regularly providing assistance in plant operations.

There are numerous services available for remote renewable management systems, such as alarm management, facility services, and condition-based services. Enterprises, with focused, comprehensive services and solutions, will have a strong market position.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • Cummins
  • Northern Power Systems
  • OutBack Power
  • SMA Solar Technology

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

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