PUBLISHER: Inkwood Research | PRODUCT CODE: 1122728
PUBLISHER: Inkwood Research | PRODUCT CODE: 1122728
The North America energy management systems market is anticipated to grow with a CAGR of 15.88% across the forecast years of 2022 to 2030. The market growth of the region is determined by government authorities' focus on energy efficiency, the growing adoption of smart grids as well as smart meters, and the rise in commercial, industrial, and residential infrastructure.
The North America energy management systems market growth evaluation covers the study of the United States and Canada. In 2021, Canada had 168 clean technology projects valued at $92.1 billion. Moreover, the Canada Green Building Council works towards advancing green buildings as well as community development sustainable practices in the country. The Leadership in Energy and Environmental Design (LEED) entails a third-party certification program for the design, construction, and operation of high-performance green buildings. LEED also provides owners with tools and solutions required for the improvement of their building's energy performance.
In addition, Canada significantly invests in the development, design, and research of buildings for high-performance retrofits, as well. In this regard, according to industry sources, energy efficiency measures helped the country's citizens save $44.4 billion in the year 2017. Furthermore, Canada also has several opportunities to become a global leader through the promotion of innovative technologies within the power and energy sector, including clean technology. Hence, these factors are anticipated to propel the energy management systems market growth in North America over the forecasted years.
Key companies operating in the market are: Honeywell International Inc, IBM Corporation, Cisco Systems Inc, etc.