Global Energy Management Systems Market Expected to Grow at a CAGR of 14% During 2024-2032, Aided by Technological Advancements

The market growth of energy management systems is being driven by the rapid advancements in technology and favourable policies by government across the world. Several industries require the assistance of energy management system, which is aiding the market growth. Further, there is an increasing focus toward issues, such as managing energy consumption, optimizing the use for renewable energy sources, and reducing carbon footprint and greenhouse gas emissions, which, in turn, is creating a huge demand for energy management systems.

In 2018, General Electric Company (NYSE: GE) provided Energy Monitoring System for smart energy operation at the Olympic Winter Games PyeongChang. The company has since developed advanced EMS which has the full power to support operators towards best operation performance, reducing risk and enhancing flexibility. This new innovation in the industry is expected to bolster the market growth over the forecast period. Further, the growing demand for digital transformation of utilities with a clear understanding of real-time and future network status, is predicted to boost the market growth of energy management systems.

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Market Analysis by Type, Component, Solution, Service, Industry, and Region:

• The energy management systems industry, on the basis of type, is divided into home EMS, building EMS, industry EMS, and others.
• Based on component, the industry is segmented into sensor, software, batteries, controller, display devices, and others.
• By solution, the industry is categorised into demand response management, carbo energy management, utility billing and customer information system.
• On the basis of service, the market is divided into monitoring and control, implementation and integration, consulting and training, and maintenance.
• Based on industry, it is divided into manufacturing, power and energy, telecom and IT, healthcare, retail, education, and others.
• Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for energy management systems is driven by the advancements in technology across the world.
• The market is aided by the favourable policies of governments in developed and developing countries.
• The rising investments in energy efficiency are bolstering the market growth of energy management systems.
• Further, market growth is aided by the growing competition among the industry key players.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for energy management systems for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the type, component, solution, service, industry, and major regions of energy management systems.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

Mitsubishi Electric Corporation, Delta Electronics, Inc., General Electric Company, Schneider Electric SE, ABB Ltd., and Honeywell International Inc., among others, among others are the key players in the global energy management systems market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

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