Energy Management System Market to reach USD 152.8 billion by 2025: Cisco Systems, Siemens AG, Honeywell International
Research Reports Inc has released the newest report supported thorough research on Energy management system Market. This report discusses this industry's market in types of Size/definition, application, classification, predictions concerning value and volume, and future predictions. It also prominently attributes the present situation and outlooks with the economic and financial aspects. This section also examines factors influencing the growth of the market along with detailing the top trends, drivers, restraints, regional trends, and opportunities.
The rise of the Energy management system market is backed owing to the increasing energy consumption, rising price volatility coupled with the growing inclination towards efficient energy management systems. According to the U.S Energy Information Administration (2017), the total world's energy consumption was around 575 quadrillions British thermal units (Btu) in 2015 which is expected to reach around 736 quadrillions (Btu) by 2040, accounting for an increase of around 28%. Thus, increasing consumption of energy would generate the need for energy management systems as these systems help the operators to gain a competitive advantage, reduce energy costs and improves productivity. As a result, the adoption and demand for energy management systems would increase, thereby supplementing the growth of the market over the forecast period. Furthermore, modernization of aging infrastructure along with smart cities projects also offers lucrative growth prospects for the energy management system market. However, the high cost of deployment is expected to hinder the growth of the energy management system market during the forecast period.
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The Leading Industry players Covered In This Report:
Asea Brown Boveri (ABB) Ltd.
Cisco Systems, Inc.
General Electric Company
Honeywell International, Inc.
International Business Machine Corporation
Schneider Electric SE
Emerson Electric Company
Eaton Corporation PLC
On the basis of segmentation, the Energy management system market is segmented into device, solution, software, vertical and application. The application segment is classified into building Energy Management systems and home energy management systems. On the basis of device segment, the market is bifurcated into smart thermostats, in-house display, load control switches and smart Plugs of which smart thermostat segment holds the largest market share owing to the government mandates to deploy smart thermostats in commercial and residential sector. The solution segment is classified into demand response management, carbon management system and utility billing and customer information system. Also, the software segment is diversified into industrial energy management system, utility Energy management system, residential energy management system, enterprise carbon and energy management.
Target Audience of the Global Energy Management System Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
The regional analysis of the Energy management system market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America, and ROW. North America dominates the energy management system market owing to the high adoption of EMS in various verticals including power, retail, and manufacturing sectors. Whereas, Asia Pacific is anticipated to emerge as the fastest-growing market region during the forecast period 2019-2025 owing to the favorable government initiatives in terms of tax incentives and rebates to promote the deployment of energy management system coupled with rapid industrialization in China and India. As a result, the need for an energy management system would rise in this region.
The detailed segments and sub-segment of the market are explained below:
Load Control Switches
Industrial energy management system
Utility Energy management system
Residential energy management system
Enterprise carbon and energy management
Building Energy Management system
Home energy management system
Telecom and IT
Power & Energy
Office and commercial building
Municipal, University, school and hospital system
Demand response management
Carbon management system
Utility billing and customer information system
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The main purpose of this report is to provide up-to-date information relating to the Energy management system market and discover all the opportunities for enlargement in the market. Energy management system Market report renders an in-detail analysis of this market's industry beside growth prospects for the forecast period with exclusive specialize in the dimensions and characteristics of the market, top manufacturers, present trends, growth forecasts, competitive landscape for the anticipated frame of your time including market restraints and prime success. Besides, this exclusive report cloaks the worldwide Energy management system Market supported applications, regions, competitive strategies and products.
The Energy management system Market report wraps:
Energy management system Market summary with market share, Scope, drivers, potential opportunities, challenges, trends within the market, etc.
Market sectioning counting on product, application, countryside, competitive market share
Market size, approximates, forecasts for the said frame of your time
Distribution channel assessment
analysis of crucial market key players, trends, company profiles, strategies, etc.
A thorough assessment of prime market geographically
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