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Energy Management Systems Market Share 2021 Global Trend, Industry News, Industry Demand, Business Growth, Top Key Players Update, Business Statistics and Research Methodology by Forecast to 2023
Posted on May 5 2021 9:00 AM
"Energy Management Systems Market Research Report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. the global Energy Management Systems Market revenue of manufacturers, the global price of manufacturers, and production by manufacturers during the forecast period with Forecast Period 2021-2023.
Global Energy Management Systems Market Research Report study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds impact on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.Energy Management Systems Market Research Report is highly research-intensive, powered by high R & D investment, and it possesses a strong product analysis to maintain growth and ensure long-term revenue generation.
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Energy Management Systems Market report offers a comprehensive view regarding the competitive landscape of the Energy Management Systems market and includes a deep description of performance by some of the key global players completing in the market. It offers a list of latest updates of several business strategies including mergers, acquisitions, partnerships, product launch, expansion of production units, and collaborations adopted by these major global players. The report provides a clear picture regarding R & D investment from key players and adoption of innovative technologies to widen their consumer base and expand the existing competitive position. Moreover, the report offers a detailed information about the position, scope of growth, and opportunities of new entrants or players in the market.
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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.
The key players in this market include: 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, EnergyCAP, EnerNOC Inc., and Elster Group.
Key Developments in the Market
August 2017 - Aclara, which is a leading supplier of smart infrastructure solutions to electric, gas and water utilities, had acquired GE's majority equity position in General Electric Philippines Meter and Instrument Co. With this acquisition, Aclara acquired majority equity position in this joint venture by enhancing their global market leadership, as it helped them expand their international footprint into the growing ASEAN and APAC markets. This development further strengthened their ability to offer next-generation smart meters through a broad meter portfolio.
April 2017 - ABB and IBM collaborated in industrial artificial intelligence solutions. ABB and IBM applied Watsonâ€™s capabilities to predict supply patterns in electricity generation and demand from historical and weather data, to enable utilities to optimize the operation and maintenance of the existing smart grids, which are facing increased complexity created by the new balance of conventional, as well as renewable power sources.
February 2017 - Schneider Electric collaborated with ENGIE, to digitize the energy sector. This joint initiative was taken to explore and deploy new digital solutions for improving the operational efficiency of renewable assets, such as solar PV and wind, leveraging Supervisory Control and Data Acquisition (SCADA) related application software powered by Schneider Electricâ€™s Wonderware brand. This partnership also demonstrated ENGIEâ€™s desire to accelerate its digitization globally to lead the energy transition.
Reasons to Purchase this Report
Impact of opportunities offered by smart cars, smart cities, and smart infrastructure initiatives
Analyzing various perspectives of the market with the help of Porterâ€™s five forces analysis
Growth of various hardware products, such as sensors and controllers
Regional analysis of the market
Identify the latest developments, market shares and strategies employed by major market players.
Three months of analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report
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Covered in this report
The Report Covers the Present Scenario and the Growth Prospects of the Global Energy Management Systems Market for 2021-2023. To calculate the market size, the report considers new installations or sales and subscription payments of Energy Management Systems.
Regional Market Analysis:
The Energy Management Systems Market report includes Global & Regional market status and outlook 2021-2023. Further, the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Global Energy Management Systems Market 2021-2023, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
- Growing research activities coupled with new product launches.
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- High Opportunity in the Industry
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- Complications associated with Energy Management Systems procedures.
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Key Attentions of Energy Management Systems Market Report:
- The report offers a comprehensive and broad perspective on the global Energy Management Systems market.
- The market statistics represented in different Energy Management Systems segments offers complete industry picture.
- Market growth drivers, challenges affecting the development of Energy Management Systems are analyzed in detail.
- The report will help in the analysis of major competitive market scenario, market dynamics of Energy Management Systems.
- Major stakeholders, top companies Energy Management Systems, investment feasibility and new market entrants study is offered.
- Development scope of Energy Management Systems in each market segment is covered in this report. The macro and micro-economic factors affecting the Energy Management Systems market
- Advancement is elaborated in this report. The upstream and downstream components of Energy Management Systems and a comprehensive value chain are explained.
Some Major Points from Toc :-
1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness Porter's Five Forces Analysis
3.2.5 Degree of Competition
3.3 Price Analysis
4. Market Dynamics
5. Market Segmentation and Analysis (Market Size, Growth & Forecast)
5.1 By Product Type
5.2 By Application
5.3 By End-user Industry
6. Regional Market Analysis
6.1 Production Analysis
6.1.4 Democratic Republic of Congo
6.2 Consumption Analysis (Market Size, Growth and Forecast)
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
6.2.2 North America
22.214.171.124 United States
126.96.36.199 Rest of North America
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
6.2.4 South America
220.127.116.11 Rest of South America
6.2.5 Middle East & Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East & Africa
7. Future of the Market
8. Competitive Landscape
8.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements
8.2 Market Share Analysis**
8.3 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
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