The worldwide market for submetering technology and services totals$771 million and will grow to $1.58 billion in 2020 at a compoundannual growth rate of 9.4 percent, according to a new Pike Research report . North America, Western Europe, and Asia Pacific collectively amountto 85 percent of the global market, with the remaining 15 percentspread between the Middle East, Latin America, Eastern Europe andAfrica. This split will remain consistent over the next eight yearsas demand for submeters and their associated services surges in thelargest three regions, the cleantech market intelligence firmforecasts. While Schneider Electric, Honeywell and a number of other majorbuilding efficiency solutions providers lead the submetertechnology and services market globally, Pike Research sayspure-play vendors play an important role on a national and regionallevel, offering high-quality products that often fill importantniches. |
The technology's basic capabilities and configurations havenot changed significantly over the last few decades. Submeteringhas long provided a way for savvy energy managers concerned withthe untapped efficiency potential of buildings and factories tounderstand energy use and identify areas for improvement. However, this market is starting to grow significantly as buildingprofessionals tie the technology into broader energy managementpackages for property owners and managers, Pike analysts say. Theexpansion of green building markets worldwide is a key driver ofsubmetering demand, as green building certification programs likeLEED and BREEAM recommend, incentivize, or even require submeteringto be installed in certified properties. In addition, a number of regulations such as building codes andgovernmental imperatives are coming into effect, requiringsubmetering or continuous energy monitoring.
These trends aredriving demand for submetering technology and services thatleverage the data that submeters provide. A report from Groom Energy published in March said that enterprise smart grid – theintegration of submetering, hardware and software with the aim ofincreased control over energy consumption – is a $5.2 billionindustry in the US and is growing at 40 percent per year. Thereport said C3, CA Technologies, ecova, EnergyCAP, EnerNOC, Lucid,Phoenix Energy Technologies, Schneider Electric, SCIenergy andSiemens are the enterprise smart grid vendors to watch because oftheir innovation, customer proof points, market momentum, productdevelopment and increased emphasis on enterprise-wide andmultiple-site implementations.
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