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Energy management systems market is estimated to grow at a CAGR of 19.01% over the forecast period, 2018-2023| Key Players - IBM Corporation, Rockwell Automation Inc., Siemens AG, CA Technologies, SAP and General Electric Co., amongst others

11-06-2018 02:55 PM CET | Energy & Environment

Press release from: Market Prognosis

Market Analysis:
North America is expected to lead the Market with the Largest Share
North America is a huge manufacturing hub, and the usage of energy increases, especially in sectors, like steel manufacturing, paper, automotive, and chemical. Other regions considered in the scope of the report include Europe, Asia-Pacific, Latin America, and Middle East & Africa.

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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. Focus would be more on renewable sources of energy. 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. Increasing usage of smart grids will drive the market growth.

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Market Segments:
Energy management systems market is segmented by:
Type of Energy: Home Energy Management Systems (HEMS) ,Building Energy Management Systems (BEMS) ,Industrial Energy Management Systems (IEMS)
Application: Energy Generation, Energy Transmission, Energy Distribution
Components: Hardware, Software, Services
Industry Vertical: Manufacturing, Construction, Energy, Telecommunication, Others
Geography : North America, South America, Europe, Asia Pacific, Middle East & Africa
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 Watson’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.

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About Market Prognosis
We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today's complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success.

Contact us:
ProgMark Pvt Ltd,
Thane - 421501
India.
Contact No: +1 973 241 5193
Email: sales@marketprognosis.com

Contact us:
ProgMark Pvt Ltd,
Thane - 421501
India.
Contact No: +1 973 241 5193
Email: sales@marketprognosis.com

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