Energy Management Systems Market Size To Reach USD 117.83 Billion By 2025Posted by Neha Bora on January 22nd, 2020
San Francisco, 22 January 2020: The Report Energy Management Systems Market Size, Share & Trends Analysis Report By Product, By Component, By Solution, By Vertical, By End Use, By Region, And Segment Forecasts, 2019 – 2025 The global energy management system market size is expected to reach USD 117.83 billion by 2025, according to a new study conducted by Grand View Research, Inc., expanding at a CAGR of 17.1% during the forecast period. Technologically-updated business expansion initiatives such as smart cities are expected to fuel the energy management system (EMS) market growth. Selecting the right vendor is crucial for implementing and monitoring EMS solutions. Installing individual energy meters in problem areas and creating an interactive communication program among end users are likely to further lead to enhanced monitoring of the transmitted data. Typically, an EMS includes devices, sensors, and meters that measure and monitor energy consumption and other factors related to them. These devices then transmit data over wireless network to a centrally-located server where an interactive application helps users in analyzing and optimizing information. Numerous EMS vendors provide hardware, software, and consulting support to keep the program running. Moreover, if the energy meters have the ability to operate on an open protocol, such as MODBUS, customers may not be dependent on any particular hardware or software vendor. With an expected increase in the costs of energy, gas, electricity, and oil, companies have become more conscious about maintaining, utilizing, and conserving energy resources efficiently. The price decrease in primary and secondary renewable energy sources will play an important role in reducing manufacturing costs. Most enterprises have realized the need to implement EMS solutions to effectively monitor their systems. Transport and industrial sectors witness increased energy consumption, which poses numerous environmental concerns.Thus, the need for an intelligent management system to streamline operations becomes inevitable. In the recent times, most top players have been making large investments in research & development programs to enhance their products. Improved features such as product maintenance services and analyzing software analytics by expert consultants are a few key factors expected to drive the growth of energy management system industry. Access Research Report of Energy Management Systems Market @ https://www.grandviewresearch.com/industry-analysis/energy-management-systems-market Further key findings from the report suggest:
Grand View Research has segmented the energy management system market on the basis of product, component, solution, vertical, end use, and region: Energy Management Systems (EMS) Product Outlook (Revenue, USD Billion; 2014 - 2025)
Energy Management Systems (EMS) Component Outlook (Revenue, USD Billion; 2014 - 2025)
Energy Management Systems (EMS) Solution Outlook (Revenue, USD Billion; 2014 - 2025)
Energy Management Systems (EMS) Vertical Outlook (Revenue, USD Billion; 2014 - 2025)
Energy Management Systems (EMS) End Use Outlook (Revenue, USD Billion; 2014 - 2025)
Energy Management Systems (EMS) Regional Outlook (Revenue, USD Billion, 2014 - 2025)
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