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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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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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