|10-23-2017 12:09 PM CET - Advertising, Media Consulting, Marketing Research||
Growing Energy Consumption Boosting the Energy Management System Market in APAC Region over 2025
Press release from: Future Market Insights
PR Agency: Future Market Insights
The report cites that the increasing demand for energy management solutions to reduce energy consumption coupled with the growing pressure to adopt sustainable energy solutions in industrial and commercial sectors is majorly supporting the growth of global energy management system market.
Moreover, factors such as augmented energy prices, new regulatory guidelines related to energy management and growing concerns over environmental sustainability are fueling the demand for energy management systems worldwide.
According to the latest report published by Future Market Insights (FMI), the global energy management system (EMS) market, which is currently valued at US$ 6,340 Mn is projected to reach US$ 21,626.6 Mn by 2025-end. In terms of revenue, the market is expected to reflect 14.8% CAGR between 2017 and 2025.
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Amongst all the regions, the energy management market in Asia-Pacific is projected to witness a higher growth rate as compared to other markets, reflecting as CAGR of 17.2% during the forecast period.
The region embraces some of the fastest emerging economies in the world, which include India and China, along with developed economies such as Japan, Australia, and South Korea. Further, Asia Pacific holds the top position in the world when it comes to volume consumption of energy, which is expected to increase even higher over the next couple of years.
North America and Europe are the other two regions with great significance to the global market. In terms of revenue, both the regions collectively accounted for more than 60% share of the global market in 2016.
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The ever-increasing application of cloud-based technology is expected to create new business opportunities for EMS developers. EMS developers are laying emphasis on developing advanced systems that can be updated and upgraded in real-time, thereby facilitating users to utilise the data more efficiently. IBM Corporation, C.A Technologies, Eaton Corporation PLC, Cisco Systems, Inc., Siemens AG, Honeywell International Inc., Asea Brown Boveri (ABB) Ltd., General Electric Company, Emerson Electric Co. and Schneider Electric are amongst some of the top companies that develop energy management systems.
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
FMI’s team of over 200 research analysts provides market intelligence at global, regional, and country level. Our analysts are committed to provide independent insights, relying on our cognitive defusion training module, which conditions them to look at data objectively and unbiasedly.
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This release was published on openPR.
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