The Qatar Energy Management market is estimated to grow at an exponential rate on an account of numerous smart grid initiatives by the government and stringent regulations to reduce the carbon footprint in the country. In addition, a significant rise in the demand for electricity is witnessed around industrial sector which has led to a spur in the introduction of energy incentive programs in the region for efficient utilization of energy.
According to MarkNtel Advisors’ research report titled “Qatar Energy Management Market Analysis, 2020”, the Qatar Energy Management market is anticipated to grow at a considerable CAGR during 2020-25. Based on technology, the wireless segment acquired the considerable market share in the Qatar Energy Management market owing to significant mobility and economical cost of using wireless technology along with being easy-to-install and with less maintenance requirement.
Moreover, the burgeoning technological advancements intertwined with surging construction activities in the country is increasing the demand for building energy management system to monitor and control the building’s energy needs and decrease the overall costs in Qatar. Hence, there lies a potential opportunity for the market growth of energy management in the forecast period.
“Qatar Energy Management Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Energy Management providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Software Component Acquired Significant Market Share
Based on Component, software segment acquired the significant market share in the Qatar Energy Management market in 2019. End-user industries are inclining more toward the purchase of software in order to reduce the overall operating costs to a large extent.
Moreover, the market of hardware sensors also foreseen considerable growth in the coming years owing to the factors such as introduction of smart IoT devices and paradigm shift of verticals from the use of conventional dedicated devices to smart units. In addition, the demand for technological advancements in sensors is also rising as these sensors enable the customer to have a real-time data tracking and also helps in detecting power quality problems which is further predicted to promulgate the growth of Qatar Energy Management market in the forthcoming period as stated in the MarkNtel Advisors’ research report “Qatar Energy Management Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the Qatar Energy Management market are ABB, Siemens, Honeywell, Schneider Electric, Johnson Control, Daikin, Emerson, Ingersoll, General Electric, Azbil etc.
Key questions answered in the study