SpendEdge has been monitoring the global energy consulting market and the market is poised to experience spend growth of more than USD 5 billion between 2016-2022 at a CAGR of 6% during the forecast period. Request Free Sample Pages.
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Read the 83-page research report with TOC and LOE on “The Global Energy Consulting Market, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend.”
The visible surge in the adoption of clean energy technologies is serving as the chief driving force in the global energy consulting market. The adoption of smart metering and green technologies such as wind energy, geothermal energy, and biomass is gaining momentum in the utility sector and is contributing to the spend growth in the energy consulting market to a significant extent.
In terms of spend share, North America is taking the lead as this region alone is accounting for approximately 40% of the total spend in the energy consulting market. The demand for energy consulting services in North America is owed to the increasing implementation of green technologies such as solar energy and wind energy.
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Insights into market price trends:
- Buyers’ penchant towards energy-efficient solutions is compelling service providers to obtain professional certifications from various associations such as CEA and ANSI. This is propelling service providers’ costs which are expected to inflate buyers’ procurement expenditure in the market.
- Service providers in the global energy consulting market are increasing their expenditure on business development and marketing activities to expand their client base. This is driving their marketing expenses, which, they are expected to compensate by hiking their service charge.
What are the strategies that buyers must adopt to optimize procurement spend in this market?
Strategic partnerships with service providers will play vital roles in unlocking avenues to save costs for buyers during the contract period. Insights into some of the strategies that buyers must follow while negotiating and during the contract period with service providers are given below:
Examine service providers’ level of technology adoption
Buyers are advised to engage with service providers who use analytical decision tools such as benchmarking to select the appropriate energy equipment that is useful for buyers and enables them to save a sufficient amount of energy. These tools evaluate energy-efficient devices based on certain factors such as quality, energy consumption rate, energy conversion rate, and efficiency of the equipment. Therefore, specific factors have weights assigned to it that enable service providers to rank these types of equipment and devices accordingly.
Build capital investment strategies
Buyers are advised to implement capital investment strategies on companies that produce energy through solar radiation, wind turbine energy generation systems. and hydroelectric energy generation. Through the investment of funds on capital assets or firms producing such energy solutions, buyers can achieve productivity for many years.
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Some of the key topics covered in this report are:
- Energy consulting market spend segmentation by region
- Total cost of ownership analysis in the energy consulting market
- Regional spend opportunity for energy consulting service providers
- Energy consulting service providers cost structure
- Energy consulting pricing models analysis
- Energy consulting procurement best practices
- Category management objectives
- Cost saving opportunities in the energy consulting market
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