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WASHINGTON, May 30, 2022 (GLOBE NEWSWIRE) -- In recent years, the increasing focus toward issues, such as managing energy consumption, optimizing the use for renewable energy sources, and reducing carbon footprint and greenhouse gas emissions, is creating a demand for energy management system. Furthermore, increasing cloud services are effectively minimizing operational costs of IT companies and also reducing maintenance. Thus, helping to reduce energy consumption.
The Global Market revenue value size stood at USD 36.4 Billion in the year 2021. The Global Energy Management Systems Market size is expected to reach USD 87.7 Billion by the year 2028, and is anticipated to grow exhibiting a Compound Annual Growth Rate (CAGR) of 15.8% during the forecast period.
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Market Dynamics :
Driver: Rapid Development in Usage of Smart Grids Smart Meters
The rise to adopt smart grids and smart meters fuels the market growth. With the growth of electricity use and ageing infrastructure, government are caring out number of projects to modernize power grids with the aid of adopting to smart grid solutions. With diverse governments venture modernization drives to improve their power grid, the demand for power performance solutions is growing in the market. For instance, the Missouri Public Service Commission made a application funding of USD 6.3 billion for grid modernization. This became taken up with the aid of using Ameren, and the enterprise completed approximately 900 initiatives as of February 2020.
Driver: Rise in Investments in the Energy Management Systems
Increase in investments for energy efficient systems is expected to generate revenue for the growth of market. There are diverse players operating the energy efficient area that allow governments to undertake such solutions, and such organizations are observing an increase in investments. For instance, in November 2019, the Asian Development Bank (ADB) accredited a mortgage of USD 250 million, as part of assistance package to EESL, to expand its energy efficient investments in India. Furthermore, Turkey's public and private sectors joined hands to invest over USD 10 billion in energy efficiency over the next ten years, according to the Turkish energy and natural resources ministry. The investment is expected to generate USD 30 billion in savings till 2033. Such developments are further augmenting the demand for EMS in the market.
Key Insights Findings from the Report:
According to our primary respondents’ research, the Energy Management Systems market is predicted to grow at a CAGR of roughly 15.8% during the forecast period.
The Energy Management Systems market was estimated to be worth roughly USD 36.4 Billion in 2021 and is expected to reach USD 87.7 Billion by 2028; based on primary research.
On the basis of region, Asia Pacific is projected to dominate the worldwide Energy Management Systems market.
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Segmentation of the Global Energy Management Systems Market:
Type of EMS
Power and Energy
IT and Tele Communication
Middle East Africa
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the energy management industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020.
Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
Impact Assessment of COVID-19 Pandemic
Middle East Africa
Quarterly Market Revenue Forecast by Asia Pacific 2020 2021
Key Strategies Undertaken by Companies to Tackle COVID-19
Long Term Dynamics
Short Term Dynamics
The report on Energy Management Systems Market highlights:
Assessment of the market
COVID Impact Analysis
Historic Data, Estimates and Forecast
Global and Regional Dynamics
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Regional Analysis :
Asia Pacific Dominates the Global Energy Management Systems Market
Asia Pacific held the most important market share in 2021. The growing demand for energy management systems has developed various key market players and established opportunities in this region. According to the United States Energy Information Administration (EIA), the general energy consumption is anticipated to grow at 0.3% yearly by 2040, that is much less than 1/2 of the rate of population growth.
List of Prominent Players in Energy Management Systems Market:
Rockwell Automation Inc.
General Electric Co.
Schneider Electric SE
Cisco Systems Inc.
Tendril Networks Inc.
Ener NOC Inc.
Elster Group GMBH
Honeywell International Inc.
Browse market data Tables and Figures spread through 148 Pages and in-depth TOC on " Energy Management Systems Market Size, Share Trends Analysis Report by Type of EMS (BEMS, IEMS, HEMS), by End User (Manufacturing, Power and Energy, IT and Telecommunication, Healthcare), by Application (Energy Generation, Energy Transmission, Energy Monitoring), by Component (Hardware, Software, Services), by Region (North America, Europe, Asia Pacific, Latin America, Middle East Africa) - Global Industry Assessment (2016 - 2021) Forecast (2022 - 2028) " View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/energy-management-systems-market-603921
In July 2021, Crown Commercial Service (CCS) selected Utilidex to supply ‘The Utilidex Energy Hub,’ a new energy management system. This initiative is expected to allow CCS to drive added value from both a trading and commercial perspective and enhance the way customers manage their energy estates in the United Kingdom.
Key questions answered in the report:
Which regional market will show the highest and rapid growth?
Which are the top five players of the Energy Management Systems Market?
How will the Energy Management Systems Market change in the upcoming six years?
Which application and product will take a lion’s share of the Energy Management Systems Market?
What is the Energy Management Systems market drivers and restrictions?
What will be the CAGR and size of the Energy Management Systems Market throughout the forecast period?
This market titled “Energy Management Systems Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
Market Size Provided for Years
″ Type of EMS
″ End User
″ Power and Energy
″ IT and Tele Communication
″ Energy Generation
″ Energy Transmission
″ Energy Monitoring
″ North America
″ Asia Pacific
″ Latin America
″ Middle East Africa
Region Counties Covered
• North America
″ Rest Of Europe
• Asia Pacific
″ South Korea
″ South East Asia
″ Rest Of Asia Pacific
• Latin America
″ Rest Of Latin America
• Middle East Africa
″ GCC Countries
″ South Africa
″ Rest Of Middle East Africa
• IBM Corporation
• Rockwell Automation Inc.
• General Electric Co.
• Schneider Electric SE
• Cisco Systems Inc.
• Tendril Networks Inc.
• Eaton Corporation
• Ener NOC Inc.
• Elster Group GMBH
• SAP SE
• Siemens AG
• Honeywell International Inc.
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis
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