The Oman Energy Management market is anticipated to grow at a rapid rate in the forecast period. This is due to factors such as rising government expenditure toward the development of smart meter plants, an increase in energy consumption among the verticals such as corporates, retail malls, residential units, hospitality, and adoption of strict regulations in order to curb the greenhouse gases emission in the country. Moreover, the rising adoption of smart grids and smart meters to manage and monitor the energy consumption, escalating degree of investment toward construction activities, and surging inclination toward renewable energy sources such as solar energy are some of the factors driving the growth of the energy management market in the country.
According to MarkNtel Advisors’ research report titled “Oman Energy Management Market Analysis, 2020”, the Oman Energy Management market is anticipated to grow at a considerable CAGR during 2020-25. Based on technology, the wireless segment gained pace at a robust rate in the Oman Energy Management in 2019 owing to the rising adoption of the IoT and cloud-based platforms to reduce the operation cost of maintenance and to curb carbon emission within a smart grid due to deployment of wireless technology. The wireless technology in the energy management system drastically reduces the consumption of energy in the commercial sector due to the surging integration of wireless sensors and control.
“Oman Energy Management Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Energy Management providers across the country. 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.
Hardware Acquired Significant Market Share
Based on component, hardware acquired a considerable market share in the Oman Energy management market in 2019 owing to the rising adoption of smart meter and IoT devices amongst the end users. Sensors acquired the majority market share in hardware segment. This is due to considerable technological advancement in sensors and escalating demand for sensors in commercial and industrial sectors to have real-time data tracking and to detect power quality problems. Thus, this is anticipated to promulgate the growth of Oman Energy Management market in the forthcoming period as stated in MarkNtel Advisors’ research report “Oman Energy Management Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the Oman Energy Management market are ABB, Siemens, Honeywell, Schneider Electric, Johnson Control, General Electric etc.
Key questions answered in the study: