Energy Management Systems Market - Global Industry Analysis, Size, Share | 2024

The energy management systems market is dominated by Siemens AG, Schneider Electric AG, Johnson Controls Inc., Honeywell International Inc., and Emerson Process Management. Transparency Market Research (TMR) observes that these players operate across all geographies, offer a wide product portfolio, and have an acumen of proper product positioning across various end-user sectors.

The market is a highly competitive arena due to a large number of providers offering hardware and software integrated systems. “Major competition in the market exists in terms of performance, range of products and services, product quality, and price,” says TMR’s lead analyst.

This 108 page report gives readers a comprehensive overview of the Energy Management Systems Market. Browse through to unlock the hidden opportunities in this market @
http://www.transparencymarketresearch.com/energy-management-systems-market.html

Hardware Components to Remain Most Valuable Component Segment through 2024

The opportunity in the global energy management systems market is expected to be worth US$35.92 bn by 2024. The valuation of market was US$11.72 bn in 2015 and is poised to rise at a CAGR of 13.4% from 2016 to 2024. On the basis of component, hardware components will continue to be the dominant segment until 2024. The software segment will exhibit a CAGR of 14.9% during the same period, which will be higher than any other segment.

The market will be led by North America throughout the forecast period, accounting for 27.6% of the overall market revenue by 2024. The increasing focus of governments on infrastructure modernization is propelling the demand for energy management systems in the region. Asia Pacific will progress at a noteworthy CAGR during the forecast period. The growth of the Asia Pacific region is supplemented by the rapid industrialization and increasing government initiatives for reducing carbon footprints.

Increasing Focus on Reduction of Energy Production Cost to Fuel Growth Prospects

Carbon emission reduction, realizing social responsibilities, and controlling climatic changes are among the key priorities of corporate environmental management programs. In order to reduce the wastage of energy, energy management systems are being increasingly implemented across various end-user sectors. “These systems are being increasingly acknowledged as they reduce the cost of waste management and improve the brand image and identity of a company,” says a TMR analyst.

Get accurate market forecast and analysis on the Energy Management Systems Market. Request a sample to stay abreast on the key trends impacting this market @
http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=9647

Cost of energy is one of the primary concerns of the majority of organizations across the globe. With the abruptly changing energy requirements, it becomes imperative for infrastructure to be capable of meeting peak demand. These systems maintain energy demand, predict current load, and maintain the load precisely, thus minimizing the overall production cost. The rising awareness regarding these benefits of the system is augmenting the global energy management systems market. Technological advancements are also influencing the growth of the market positively.

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact

Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.