Press release
Energy Management Systems Market Emerging Trend, Top Companies, Industry Demand and Regional Analysis
Energy Management Systems Market
Ad hoc or conventional project-based ways to increasing energy performance are inferior to an energy management system, which involves implementing a systematic approach to energy efficiency. Energy management systems frequently include an energy strategy that directs an organization's approach to energy use and performance along with best practises in project management, energy monitoring, and energy awareness.Since the staff of the organisation must constantly monitor energy use and address abnormalities or incidents that result in energy waste, this benefits the organisation by permitting sizable energy savings that are persistent. Companies who choose to use ISO 50001 will create a particular kind of energy management system that produces not only these advantages but also additional advantages for the company. Since its release not too long ago, ISO 50001 has quickly established itself as the industry standard for developing a deliberate and systematic energy management system that has been shown to increase energy efficiency and reduce energy costs.
The outcomes of increased energy efficiency are measured and evaluated by the energy management systems. The energy management systems support the formulation of an energy policy and contribute to the structuring of an energy plan to achieve goals by helping to shape the company's energy policy. The energy management systems also make it easier for management to participate, commit, and agree, which helps them achieve their energy goals.
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The Market's Drivers
During the forecast period, rising demand for energy management systems in commercial sectors is anticipated to propel market expansion for EMS globally.Several firms are currently having trouble cutting their energy usage. Energy management systems are projected to be more widely adopted in the industrial and commercial sectors as demand to use sustainable energy sources grows. Additionally, energy management solutions assist businesses in reducing operational expenses and greenhouse gas emissions, which is anticipated to encourage businesses to invest in energy management solutions and fuel market expansion. For instance, in order to increase operational efficiency and lower carbon footprint, Microsoft Corporation, France invested in Schneider Electric's energy management technology.
Global Energy Management Systems Market- Key trends
The world is witnessing a wave of global warming and climate change due to widespread urbanization and industrialization. Humans are exploiting natural resources to fulfil various needs. The rising demand for continuous power supply across various nations has resulted in fossil fuel depletion. Therefore, various governments have joined hands to promote the use of sustainable energy sources as a measure to tackle climate change and other environmental threats. This in turn is adding traction to the development of this industry.
Global Energy Management Systems Market- Segmental assessment
By Component
• Software
• Hardware
• Services
By Type
• Home Energy Management Systems
• Building Energy Management Systems
• Industrial Energy Management Systems
By Deployment
• On-Premise
• Cloud Based
By End use
• Power & Energy
• Telecom & IT
• Manufacturing
• Residential & Commercial
• Food & Beverages
• Others
The manufacturing segment is poised to amass notable gains over the stipulated timeframe owing to the rising efforts of companies to reduce their utility costs.
Global Energy Management Systems Market- Competitive intelligence
The prominent players characterizing the competitive terrain of this industry are ABB (Switzerland), Cisco Systems, Inc. (US), General Electric (US), Schneider Electric (France), Honeywell International Inc. (US), Eaton (Ireland), Emerson Electric Co. (US), Energy Management Systems, Inc. (US), Mitsubishi Electric Corporation (Japan), IBM (US), Rockwell Automation, Inc. (US), Siemens (Germany), Hitachi (Japan), Yokogawa Electric Corporation (Japan), C3 AI (US), Delta Electronics, Inc. (Taiwan), Enel X (Italy), Neptune India (India), Weidmuller (Germany), SWITCH Energy Inc. (Canada), Sensorberg (Germany), Distech Controls (Canada), Budderfly (US), GridPoint (US), and geo (Green Energy Options) (UK).
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