Mitsubishi Electric Corporation, Delta Electronics, Inc., General Electric Company, Schneider Electric SE, ABB Ltd., and Honeywell International Inc., among others, are the major players in the global energy management systems market.
The global energy management systems market is expected to grow at a CAGR of 14% in the forecast period of 2022-2027. As per the analysis of Expert Market Research, the market is expected to be driven by the growing demand for energy-efficient systems in industrial activities.
The increasing consumption of energy in various end-use sectors is driving the demand for energy management systems to optimise energy use. Various organisations are increasingly deploying energy management systems to enhance their cost savings while meeting their sustainability goals by reducing their carbon footprint. With the increasing volatility of energy prices owing to various socio-political conflicts, the adoption of energy management systems to reduce operational expenses and enhance energy efficiency is rising.
As energy management systems monitor, control, and optimise the performance of transmission systems, the increasing modernisation of power systems by governments is propelling the market growth. The increasing use of smart grids and smart meters is also propelling the market growth of energy management systems. The use of energy management systems to enable utilities to gain enhanced operational control and visibility of sub-transmission and transmission networks is further invigorating the market.
The growing adoption of IoT-based energy management systems in electric power supply chains to enhance security and energy efficiency while maximising savings is augmenting the market growth. Several businesses are also deploying IoT-based energy management systems to improve maintenance operations, optimise labour costs, and automate on-site asset management.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Mitsubishi Electric Group is a leading manufacturer of electric and electronic equipment that is used in various applications in sectors such as energy, information and communication systems, electronic devices, and industrial automation, among others. With 145,696 employees, the company generated revenue of JPY 5 trillion in 2021. In September 2021, the company, along with Toshiba Mitsubishi-Electric Industrial Systems Corporation, developed an electric motor design support system by integrating AI.
Delta Electronics is a thermal and power management solutions provider, based in Taiwan. The company is a pioneer in energy-efficient power products and has developed the first server power supply certified as 80 Plus Titanium in the world. The company aims to offer clean, energy-efficient, and innovative solutions while addressing environmental challenges.
|Headquarters:||Massachusetts, United States|
The General Electric Company (GE) is a company that offers innovative services and products in various end-use sectors like renewable energy, power, aviation, and healthcare, among others. It has 168,000 employees and operations in 170 countries. In September 2022, the company signed an MoU with QatarEnergy to develop a carbon capture roadmap for the energy sector in Qatar. The company aims to become a net-zero company by 2050.
Schneider Electric SE is a multinational company that aims to revolutionise the digital transformation of industrial automation and energy management. The company employs more than 128,000 people and has a wide presence in over 115 countries.
ABB is leading technology company that operates in electrification, robotics and discrete automation, process automation, and motion areas. With an employee base of 105,000 employees in more than 100 countries, the company aims to address global energy challenges and create a sustainable future. In September 2022, the company announced its decision to acquire PowerTech Converter to expand the growth of its motion segment.
|Headquarters:||North Carolina, United States|
Honeywell International Inc. is a company that aims to leverage innovative technology to address challenges regarding security, safety, air travel, and energy, among others. Aerospace, safety and productivity solutions, and performance materials and technology, among others, are some of its leading businesses.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.