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Energy Management System Market By Top Key Players: GENERAL ELECTRIC, Schneider Electric, Honeywell International, Eaton Corporation, Siemens AG, ABB, Cisco Systems, IBM, Emerson Electric Corporation, CA Technology, Johnson Controls
Energy Management System Market
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Geopolitical measures to reduce the reduce emissions, with growing demand for clean and reliable power will propel energy management system market share. EU has introduced Energy Performance of Buildings (EPBD 2002/91/EC) directive with the prime objective to promote cost effective improvement to enhance the overall building efficiency. Regional government is also planning to convert the existing and new buildings into zero energy from 2020. These measures to curb the carbon footprints is predicted to drive the energy management system market.
The government of Italy has unveiled the Energy Efficiency Certificate trading scheme to target energy service company entities, which focusses on building sector. Reviewed government schemes to increase the energy efficiency saving is anticipated to fuel the business growth. The energy saving goal increased by more than 40% (USD 9.61 million) in 2016.
Energy management system market share from control systems contributed 5% of global revenue share in 2015. Implementation can lower energy consumption by up to 15%, by providing you with the tools to make your lighting systems, HVAC, and plant equipment electricity use more efficient.
(EMS) Energy Management System Market was valued at over USD 12 billion in 2015 and is set to surpass USD 38 billion by 2024.
Growth Drivers:
• Stringent government norms
• 3.6.1.2 Increasing infrastructure spending
• Growing Electricity demand
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The U.S. has adopted standard 90.1 to provide minimum requirements for energy efficient commercial building design and construction. Canada has also adopted ISO 50001 to offer structured framework to companies towards energy efficiency. It also helps to reduce environmental impacts and energy cost.
Germany was valued over 25% of Europe energy management system market share in 2015. The German government has unveiled several programs including National Action Plan on Energy Efficiency, to promote investment in energy efficient building & products and innovative industrial operations. The authorities have also offered SMEs subsidy of at least 30% to improve the efficiency of manufacturing process by upgrading technologies and equipment. The country targets to cut its energy consumption to 20% by 2020.
The Italian government has introduced the Energy Efficiency Certificate trading scheme that targets energy service company entities and Conto Termico, which primarily focusses on building sector. Revised government schemes to raise the bar of energy efficiency saving is expected to stimulate the energy management system market share. In 2016, energy saving goal increased over 40% (USD 9.61 million).
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Some of the key players in the energy management system market include Schneider Electric, Eaton Corporation, ABB, IBM, CA Technology, GENERAL ELECTRIC, Honeywell International, Siemens AG, Cisco Systems, Johnson Controls, and Emerson Electric Corporation.
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