Energy Management Systems (EMS) Market: Introduction
Transparency Market Research delivers key insights on the global energy management systems (EMS) market. In terms of revenue, the global energy management systems (EMS) market is estimated to expand at a CAGR of 13.4% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecast in its report on the global energy management systems (EMS) market.
The global energy management systems (EMS) market is broadly affected by several factors, including increase in usage of EMS in various components. The increase in production and demand for electronic components is expected to be the primary driver for the global energy management systems (EMS) market. The rise in demand for industrial, building, and home applications is propelling the energy management systems (EMS) market.
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The global energy management systems (EMS) market is negatively affected by the rapid spread of COVID-19 due to strict lockdowns, disruption in supply chain, and halted business activities. Key players working in the energy management systems (EMS) market are improving energy usage and overall energy performance of an organization. Energy management systems (EMS) is a solution that includes software, hardware, and communication systems for energy efficiency improvement. EMS offers energy monitoring dashboards and software, including analytics to efficiently manage the resources.
There is an increase in implementation of energy management system in various end-use industries such as commercial buildings, IT & telecom, construction, hospitals, schools, manufacturing industries, power & energy, etc. since a few years. This factor is expected to boost the global energy management systems (EMS) market in the upcoming years. Manufacturers are focusing on increasing the production of these electronic components to fulfill the rising demand. This factor is driving the global energy management systems (EMS) market.
Energy Management Systems (EMS) Market: Overview
· Energy management system (EMS) is a system of computer-aided tools used by operators of electric utility grids to monitor, control, and optimize the performance of the generation or transmission system. It can also be used in small scale systems such as microgrids.
· According to Transparency Market Research’s latest research report on the energy management system market for the forecast period of 2021 to 2031, rise in usage of energy management system in industrial, building, and home applications is a key factor that is expected to boost the global Energy Management Systems (EMS) market during the forecast period
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Increase in Usage of Energy Management Systems (EMS) in Industrial, Building, and Home Applications: Key Driver of Energy Management Systems (EMS) Market
· Rapid growth of well-organized retail and healthcare sectors has also led to the increase in demand for energy management system. Moreover, investments are expected to increase in these sectors due to the rapid commercialization of innovative products such as the multi-network integration of SCADA.
· Furthermore, energy management systems are widely adopted in various industries, as they provide section and department wise electrical energy usage information
Energy Management Systems (EMS) Market: Prominent Regions
· North America holds major share of the global energy management systems (EMS) market. The increase in demand for EMS in various components such as industrial and building applications is driving the energy management systems (EMS) market in North America. The U.S. is a key country of the energy management systems (EMS) market in North America. It held a significant share of the energy management systems (EMS) market in North America in 2020. The country is estimated to maintain its dominant position in the region during the forecast period.
· Asia Pacific is also a prominent region of the global energy management systems (EMS) market. China led the energy management systems (EMS) market in Asia Pacific in 2020. The increase in demand for energy management systems (EMS) in industrial, building, and home applications is driving the market in China.
Energy Management Systems (EMS) Market: Competition Landscape
· Emerson Process Management
· Eaton Corporation Plc
· General Electric Company
· Honeywell International, Inc.
· Johnson Controls, Inc.
· Mitsubishi Electric Automation
· Pacific Controls
· Rockwell Automation, Inc.
· Schneider Electric Se
· Siemens AG
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Potential Opportunities for Market Players in North America
North America is projected to account for a major share of the global energy management systems (EMS) market. There is an increasing demand for EMS in various components such as industrial and building applications in North America. Energy management systems are used to calculate the consumption of energy in real time in various networks, sub-networks, etc. The rising popularity of EMS in organizations is due to advancements in digital and communication technologies. Moreover, the growing awareness about carbon emission and greenhouse gases in consumers is also an important factor propelling the energy management systems market in North America. The U.S. is expected to offer profitable opportunities to manufacturers operating in the global market.
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