Press release
Energy Management Systems Market to gain $24453.90 Million by 2028
Energy Management Systems Market
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Triton Market Research, in its report, indicates that the global energy management systems market would accelerate at a CAGR of 15.91% during the forecast years from 2022 to 2028, reaching a revenue worth $24453.90 million by 2028.
Governments and other entities are increasing their R&D expenditures relating to energy efficiency. Besides, companies providing energy services have also initiated programs for enhancing energy efficiency. Such programs & initiatives and increasing investments in energy efficiency are expected to increase the adoption of EMS, thus boosting the market's growth.
However, the high costs related to energy management systems and the lack of a skilled workforce are factors restricting the growth of the market.
The energy management systems market is segmented into end-user, component, and type. By end-user, the market is segmented into retail & offices, telecom & IT, manufacturing, healthcare, power & energy, and other end-users. By component, the market is segmented into services, software, and hardware.
Services is divided into consulting & training, monitoring & control, maintenance, and implementation & integration. Whereas, hardware is divided into sensors, controllers, thermostats, actuators, and other hardware components. By type, the market is segmented into building EMS, home EMS, and industrial EMS.
Globally, the Asia-Pacific is anticipated to exhibit the fastest growth over the forecasted period. The region has witnessed rapid industrialization and urbanization in recent years. With this, the infrastructure has also developed, thus leading to increased energy demand. The increasing concerns about energy saving have resulted in increasing investments in the energy sector to boost energy efficiency. This, in turn, has boosted the EMS market in the Asia-Pacific.
The leading companies in the global energy management systems market include Rockwell Automation Inc, Uplight, Broadcom Inc, Enel X, Johnson Controls Inc, GridPoint, Emerson, Energy Hub, Dexma, Siemens, C3 AI, General Electric Company, Eaton Corporation Plc, Cisco Systems Inc, IBM Corporation, Honeywell International Inc, and Schneider Electric.
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Question & Answer: Energy Management Systems Market
Question 1: What factor is expected to boost the energy management systems market's growth?
Answer: Governments and other entities are increasing their R&D expenditures relating to energy efficiency. Besides, companies providing energy services have also initiated programs for enhancing energy efficiency. Such programs & initiatives and increasing investments in energy efficiency are expected to increase the adoption of EMS, thus boosting the market's growth.
Question 2: Which factors are restricting the growth of the energy management systems market?
Answer: The high costs related to energy management systems and the lack of a skilled workforce are factors restricting the growth of the market.
Question 3: Which region is anticipated to exhibit the fastest growth in the energy management systems market?
Answer: Globally, the Asia-Pacific is anticipated to exhibit the fastest growth over the forecasted period. The region has witnessed rapid industrialization and urbanization in recent years. With this, the infrastructure has also developed, thus leading to increased energy demand. The increasing concerns about energy saving have resulted in increasing investments in the energy sector to boost energy efficiency. This, in turn, has boosted the EMS market in the Asia-Pacific.
Question 4: Which are the leading companies in the global energy management systems market?
Answer: The leading companies in the global energy management systems market include Rockwell Automation Inc, Uplight, Broadcom Inc, Enel X, Johnson Controls Inc, GridPoint, Emerson, Energy Hub, Dexma, Siemens, C3 AI, General Electric Company, Eaton Corporation Plc, Cisco Systems Inc, IBM Corporation, Honeywell International Inc, and Schneider Electric.
Related Report:
Global Utility and Energy Analytics Market - https://www.tritonmarketresearch.com/reports/utility-and-energy-analytics-market
The global utility and energy analytics market is anticipated to progress at a CAGR of 17.46% over the assessed period of 2019 to 2027, gaining $966.07 million in revenue by 2027.
Utility and energy analytics enable to have a real-time analysis of processes, thus leading to better operations via efficient identification and failure isolation.
The key driving forces behind this market's growth include rising government initiatives for AMI, increasing demand for dynamic forecasting, risk mitigation, & operational efficiency, and predictive analytics for businesses.
Also, companies operating in the utility and energy sector are upgrading their systems into smarter energy systems that enable a two-way flow of data and energy. This is expected to further enhance the adoption of utility and energy analytics systems.
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