Press release
Global Energy Management System Market to hit USD 56.59 billion by 2022- Research Nester
An energy management system (EMS) also benefits to make the decision of data driven and supplements organization level operation and fiscal decisions.
The global energy management systems (EMS) market was valued at USD 25.48 billion in the year 2014 and is anticipated to reach USD 56.59 billion by 2022, expanding at a compound annual growth rate (CAGR) of 21.46%.
Market Segmentation
By Product
On the basis of product type the global energy management system (EMS) market is segmented into:
• Industrial Energy Management System (IEMS)
• Home Energy Management System (HEMS)
• Building Energy Management System (BEMS)
Growth Drivers and challenges
Factors like increased productivity, looking for ways to minimize the operational cost, up-surged acceptance etc. have helped the Global Energy Management Systems (EMS) to expand its horizon.
In addition to that, increased concerns over energy availability, limitations on access to energy in remote areas have drawn the business houses’ and governments’ attention to formulate strict policies on the efficient use of energy.
Limited expertise, High switching cost, slow process in government approvals and paper works are some of the major challenges for the global Energy Management System market.
Market Size and Forecast
North America accounted for 42% of total market income in the year 2014 and the region’s EMS market is projected to grow at a CAGR of 22.12% to reach $19.24 billion in the year 2021.
Europe Energy Management Systems market is anticipated to grow at a CAGR of 22.58% to reach $18.36 billion in the year 2021.
Asia Pacific Energy Management System market is projected to grow at a CAGR of 29.81% to reach $15.54 billion in the year 2021.
To know more about this research, kindly visit:
http://www.researchnester.com/reports/energy-management-system-market-global-demand-analysis-opportunity-outlook-2021/19
Research Nester is a global market research and consulting firm helping organizations, private entities, governments undertaking, non-legislative associations and non-profit organizations. With our decades of experience in the market research, we help our clients to gain a competitive edge over other players. Thus, helping them making strategic yet dynamic decisions for the future investments.
For Table of Content & Free Sample Report Contact:
Ajay Daniel
Email: ajay.daniel@researchnester.com
U.S. +1 646 586 9123
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Brooklyn, New York 11230
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