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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Energy Management Systems (EMS) Market: Dynamics
An energy management system (EMS) is a collection of computerized tools used to control, monitor, and optimize the performance of energy generation and transmission systems. The energy management systems (EMS) market players have witnessed a large avenue in Building Management Systems in recent years.
The emphasis on decreasing greenhouse gases and carbon emissions has catalyzed the use of EMS in commercial and residential sectors. EMS has gained prominence as a compelling energy solution with endorsements from building facility managers, utility providers, and proponents of grid modernization.
The rise in awareness about supervisory control and data system has boosted business opportunities for several technologies in the energy management systems (EMS) market. Persistent emphasis by end users on enhancing energy efficiency outcomes is one of the riveting business propositions for the energy management systems (EMS) market.
Another compelling business proposition for the energy management systems (EMS) market is the real-time assessment of energy consumption in networks, sub-networks, and courtesy grids. Increase in usage of digital and communication technologies is another important factor, which is making the EMS popular with utility providers.
Manufacturers are focusing on the industrial application segment, as the share held by this segment in the energy management systems (EMS) market is likely to increase during the forecast period.
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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.
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Energy Management Systems (EMS) Market: Major Players
The global energy management systems (EMS) market is consolidate with the presence of key players. Prominent players operating in the global energy management systems (EMS) market include 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, and Siemens AG.
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