Global Energy Management Systems Market 2019-2023 released by 360 Research Reports considers the past, current and future state of the industry while encapsulating modest landscape analysis, manufacturers, marketing strategies, industry effect factor analysis. An unbiased and detailed analysis of the on-going trends, opportunities/ high growth areas has been included to help stakeholders to device and align Energy Management Systems market strategies according to the current and future market. All enterprise profiles of the main players and brands are shown in this research. The report presents the drivers and restrictions of the market that have been explained by SWOT analysis.
Top-Listed Players mentioned in Energy Management Systems Market Research Report 2019-2023:
- IBM Corporation
- Rockwell Automation Inc.
- Siemens AG
- Schneider Electric Co.
- Cisco Systems
- Eaton Corporation
- Honeywell International Inc.
- CA Technologies
- SAP and General Electric Co. Other players include Tendril
- Utilities Direct
- EnerNOC Inc.
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Overview of Energy Management Systems Market Report:
The global energy management systems market was valued at USD 37.26 billion in 2017 and is projected to reach a value of USD 105.86 billion by 2023, at a CAGR of 19.01% over the forecast period, 2018-2023. The scope of the report is limited to solutions offered by major players, including providers of hardware, software, and services. While the regions considered in the scope of the report include North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The study also emphasizes on the measures adopted by the industries in the market toward energy management.
Owing to the increasing use of smart grid services, growing competition among industrial enterprises, and supporting government policies and incentives associated with energy efficiency, the market is expected to witness considerable growth in the future. Currently, the world faces the problem of energy security and inefficient access to electricity because of which various initiatives are being taken to effectively manage the energy sources. Due to the increasing environmental concerns regarding extinction of conventional energy sources, it is necessary to shift toward the use of renewable energy sources. These concerns call for efficient energy management, which has prompted many countries to generate electricity through renewable sources. China emerged as the leader in the installed renewable energy capacity industry in 2016, with a combined capacity of 545.21 gigawatt. However, lack of skilled personnel challenges the market from growing exponentially.
Increasing Usage of Smart Grids Will Drive the Market Growth
In an increasingly complex world, fazed by a robust energy demand and aging electricity infrastructure, the implementation of a smart grid is crucial in making worldwide energy supply more reliable, energy-efficient, and sustainable as it monitors, measures, and manages the transport of electricity. Further, smart grids are an essential element for expanding the use of some technologies, such as electric vehicles and renewable energy sources, such as wind energy, geothermal power, and solar heat and power. Moreover, the combination of power grids with 5G technology will offer growth opportunities to the market. The companies are examining use cases of the emerging 5G technology in the power grid, as part of the 5Grid project in Berlin, for studying the impact of 5G on the energy sector. The smart grid projects are increasingly being funded by the governments, to develop a sustainable solution for the growing energy demands across the globe. For instance, in the United States, companies, like Honeywell, General Electric, Trilliant Networks, and Itron, have received funding between USD 60 and 300 million. Thus, the smart grid expenditure in the country has consistently increased over the past four years, a trend which is expected to continue over the forecast period.
Manufacturing Industry Will Account for a Significant Share
The manufacturing centers have equipment installed that run continuously, critical to the plant operations. The industries are making efforts to optimize their carbon footprint by using energy management systems. The companies are under pressure to implement energy management systems because of the strict regulations regarding the control of environmental emissions. The customers in the market are also growing sensitive to the products they use, and changing preferences toward eco-friendly products, which is also expected to encourage the growth of the energy management systems in the industry. Energy management systems are present in the market for specific needs of the manufacturing industry that will help them either use less energy or not emit harmful gases into the environment. With the electricity prices increasing worldwide, the companies have started implementing these systems to gain a better control over energy use and spend.
North America is Expected to Lead the Market with the Largest Share
North American market will be driven by the increasing number of smart buildings, green infrastructure, rising energy demands, and adoption of EMS across various verticals, such as manufacturing, energy & power, and construction, primarily in the United States and Canada. North America is a huge manufacturing hub, and the usage of energy increases, especially in sectors, like steel manufacturing, paper, automotive, and chemical. Moreover, an increase in the usage of EMS is expected because of the increasing regulations and policies enforced by the U.S. DOE and related agencies in North America. Because of stringent norms by DOE in the U.S., more companies are expected to start using EMS to reduce emissions. With the electricity rates increasing in the region, the companies will start using these systems to produce their electricity to power their manufacturing centers.
Key questions answered in this report
- What will be the Market size in 2024 and what will be the growth rate?
- What are the key factors driving the global Energy Management Systems Market?
- Who are the key vendors in this Energy Management Systems Market space?
- What are the challenges to Market growth?
- What are the Energy Management Systems Market opportunities and threats faced by the vendors in the global Energy Management Systems industry?
- What are the strengths and weaknesses of the key vendors?
- What are sales, revenue, and price analysis by types and applications of Energy Management Systems Market?
- What are sales, revenue, and price analysis by regions of Energy Management Systems industry?
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Our report offers:
- Market share assessments for the regional and country level segments.
- Market share analysis of the top industry players.
- Strategic recommendations for the new entrants.
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub-segments and the regional markets.
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations).
- Strategic recommendations in key business segments based on market estimations.
Competitive landscaping mapping the key common trends.
- Company profiling with detailed strategies, financials, and recent developments.
Supply chain trends mapping the latest technological advancements.
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Top Most Regions Covered In Energy Management Systems Market Research Report 2019-2023:
- United States
- United Kingdom
- South Korea
- South Africa
Conclusively, this report will provide you a clear view of each fact of the market without a need to refer to any other research report or a data source. Our report will provide you with all the facts about the past, present, and future of the concerned Market.
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