Energy Management System Market Shoots Up to USD 89 Billion By 2023 At 18% of CAGR
By Herald Keeper
Energy Management System Market:
Energy management is the key which allows to save energy in our organization. These systems reduce the damage done to planet by the people. This system saves the non-renewable energy resources that are becoming very limited in supply. By using energy management system, it reduces the risk which reduces the demand for energy so as to make it more conservative and predictable. These energy management systems are cheap and require no capital investments to save energy.
According to segmentation, Energy Management System Market are segmented on the basis of software, solution and vertical. The software segment consists of utility EMS, industrial EMS, residential EMS and enterprise carbon & energy management. The solution segment consists of carbon energy management, demand response management, utility billing and customer information system. By solution segment, carbon energy management provides healthy environment in organization. This system monitors, reports and reduces energy costs for buildings in commercial, retail, multi-commercial, industrial and government sectors.
According to Market Research Future Analysis, Energy Management System Market has been valued at USD 89 Billion by the end of forecast period with 18% of CAGR during forecast period 2017 to 2023.
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Energy Management System Market Players:
- Honeywell International Inc. (U.S.)
- Cisco Systems Inc. (U.S.)
- International Business Machines Corporation (U.S.)
- Siemens AG Ltd. (Germany)
- Eaton Corporation PLC (Ireland)
- CA Technologies (U.S.)
- Emerson Electric Company (U.S.)
- Daikin Industries Ltd. (Japan)
- Carma Industries Inc. (Canada)
- Enernoc Inc. (U.S.)
Commenting on the report, an analyst from Market Research Future (MRFR)?s team said:
By regional analysis, energy management system market can be studied and segmented for regions like Asia Pacific, North America, Europe and rest of the world. North America has acquired the largest market shares in energy management system market due to increasing demand in implementation of cloud computing services and government initiatives to implement utility EMS. Europe region is the second largest region due to increasing urbanization and population along with the growing needs which has led to growth of energy management systems in market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
- Energy management device manufacturers
- Retail energy service providers
- EMS vendors
- Utilities/power generators
- System design and development vendors
- Training and education service providers
- Original equipment manufacturers
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