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Predictive Emission Monitoring Systems Market to reach USD 4.66 Bn by 2030
Predictive Emission Monitoring Systems Market
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Reasons for High Market Growth and Market Opportunities
Increasing air pollution and carbon emissions have caused governments throughout the world to enforce stringent emission control requirements. Irrespective of the aforementioned advantages, it cannot be denied that regulatory bodies like the Environmental Protection Agency (EPA) in the United States and European Environment Agency (EEA) make it mandatory for industries to monitor emissions continuously, hence, creating demands for PEMS.
PEMS are more affordable and efficient compared to traditional Continuous Emission Monitoring Systems (CEMS) which use highly expensive, complicated, and low-compliant techniquesTheir capability to predict emissions in real-time by using advanced data analytics, artificial intelligence (AI), and machine learning (ML) is one of their major drivers. This shift in technology at the same time is helping to reduce operational costs and comply with environmental norms.
Segmentation Analysis
The research report on global PEMS market categorizes the industry in terms of component, deployment, industry and region.
Vertical: The software and services market Growing uptake of AI-based predictive analytics is the primary factor remunerating the software segment. Industries want customized solutions which account for steady growth of the service segment (Installation, Calibration & Maintenance).
Deployment: It is divided into two primary segments: on-premise and cloud-based deployments. There is however an increasing demand for cloud based solutions and in recent months we have seen a significant shift towards the cloud due to their scalability, remote access and real time monitoring abilities.
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PEMS Market Share by End-Use Industry: The end-use industries assessed in this study comprise power generation, oil & gas, chemicals, pharmaceuticals, and waste incineration. Power generation is the leading market segment, since coal-fired and gas-based power plants need to monitor emissions closely.
Country-Level Analysis
United States: In the U.S., stringent regulations by EPA is one of the primary factors driving the growth of the PEMS market, with increasing adoption of digital emission monitoring solutions across power and manufacturing sectors.
Germany - Being one of the pioneers in environmental sustainability, Germany has strict emission control policies set in place that is driving the industries to adopt AI-enabled PEMS from conventional CEMS.
China: The country is home to the biggest industrial sector in the world but is under pressure to reduce air pollution with emission control technology. PEMS adoption is insightful as governments worldwide are advocating green manufacturing and clean energy.
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Competitor Analysis
ABB Ltd A leading provider of AIbased predictive emission monitoring solutions to industries across the globe.
Siemens AG: IIoT and smart sensors to improve real-time emissions-monitoring
Emerson Electric Co: Expand offerings of cloud based PEMS solutions for oil and gas and power sectors
Rockwell Automation: Funding technology to control emissions using data-driven since its prediction.
General Electric (GE): GE extends its digital industrial offerings with AI-enabled emission monitoring centers
Press Release Conclusion
The global Predictive Emission Monitoring Systems market is witnessing growth from the widespread adoption of digital transformation across industries, predictive analytics, AI-based analytics, and stringent environmental standards and regulations, comprehensive and real-time monitoring and ways to achive cost-effective compliance processes. The widespread adoption of PEMS will not only continue but further expand its presence, contributing to the world of industrial air quality management, as industries across the globe are focusing on sustainability and emission regulation.
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