Energy Management System (EMS) Market Size worth $43bn by 2024

Energy Management System Market size is set to surpass USD 43 billion by 2024, as reported in the latest study by Global Market Insights, Inc.
 

Growing focus toward conservation of energy, rising demand for electricity accompanied by strict regulations and mandates to reduce the GHG emissions will drive the market growth. Rapid industrialization coupled with greater investments on the construction activities is set to foster the business landscape.

 

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Shifting focus toward the changing climatic conditions encouraging the adoption of sustainable systems is set to positively impact the market share. The energy insufficiency along with supply and demand mismatch will boost the requirement for energy efficiency devices.
 

Browse key industry insights spread across 299 pages with 367 market data tables & 42 figures & charts from the report, “Energy Management System (EMS) Market Size By Service (IEMS, BEMS, HEMS), By Component (Metering and Field, Hardware, Software, Networking Device, Control Systems, Sensors), By End-User (Power and Energy, IT, Manufacturing, Enterprise, Healthcare) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Netherlands, Poland, Turkey, China, Japan, South Korea, India, Indonesia, Singapore, Malaysia, Philippines, Thailand, Vietnam, Saudi Arabia, Qatar, UAE, South Africa, Iran, Brazil, Argentina), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/energy-management-system-EMS-market
 

BEMS market will witness high demand owing to increasing demand in residential, commercial and industrial sectors. Rapid industrialization combined with rising infrastructure development including smart buildings is anticipated to encourage the business growth. An upsurge in the investments for smart building measures including system integration and building controls at a faster pace compared to the traditional energy efficiency patterns.
 

Singapore Energy Management System (EMS) Market By Application

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Healthcare application segment in the EMS market will grow at a healthy rate in the coming years due to development of strategic cost reduction programs aiming at reduced energy costs along with greater awareness toward sustainable environment. Increasing cost pressure pertaining to competitive environment and industry restructuring will positively impact the product installation.
 

Australia is one of the major solar energy consumers across Asia Pacific. The solar industry is anticipated to witness a rapid growth owing to growing demand for roof installation of solar panels. According to the Clean Energy Council, 6.2% of Australia’s electricity in 2018 was generated by renewable sources and solar power contributed a significant percentage to this. In addition, technological advancements coupled with favourable government initiatives into energy procurement and usage thereby fueling the product adoption.
 

Major energy management system market players include Schneider Electric, General Electric, Eaton Corporation, Honeywell International, ABB, Siemens AG, IBM, Cisco Systems, CA Technology Emerson Electric Corporation and Johnson Controls among others.
 

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