Energy Management Systems (EMS) Market size worth $45 Bn by 2026

Energy Management System Market size is set to exceed USD 45 Billion by 2026, according to a new research report by Global Market Insights Inc.
 

Rising industry inclination toward sustainable development and energy conservation is likely to fuel the energy management system industry growth. Escalating electricity demand driven by exponential population growth across developing and developed nations coupled with availability of incentives comprising duty drawback and energy credits will augment the market share. Adoption of stringent regulations and norms focused at limiting GHG emissions and boosting the overall energy efficiency is anticipated to complement the business landscape.
 

Shifting industry focus toward deployment of energy efficient units

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IEMS services are likely to observe substantial growth till 2026 on account of increasing demand led by wider applicability across majority of industry operations. Ongoing industrialization in conjunction with growing infrastructure expansion due to escalating project funding is expected to encourage the market value. Availability of incentives coupled with favorable government initiatives aimed at development of smart establishments integrated with building controls will further drive the market share.
 

Industrial Revolution 4.0 in IT sector

IT application in the energy management system market is poised to showcase significant demand during 2020 to 2026 propelled by ongoing industrial revolution 4.0 which facilitates intelligent networking of processes and machines with an aid of Information and Communication Technology (ICT). The advent of newer digital industrial technologies has made it possible to collect and interrogate data across machines thereby enabling more flexible, faster and efficient processes. Increasing cost pressure owing to highly competitive business environment and ability of these units to offer minimum operation cost will positively influence the product implementation.
 

Browse key industry insights spread across 308 pages with 366 market data tables & 48 figures & charts from the report, “Energy Management System (EMS) Market Size By Service (IEMS, BEMS, HEMS), By Component (Metering and Field Equipment, Hardware, Software, Networking Device, Control Systems, Sensors), By End-User (Power and Energy, IT, Manufacturing, Enterprise, Healthcare), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/energy-management-system-EMS-market
 

Ongoing digitalization across emerging economies led by increasing investments

Brazil market revenue is predicted to experience significant gains through 2026 led by shifting end user inclination toward adoption of energy efficient systems. Ongoing digitalization following the escalating electricity consumption has forced the respective governments to encourage power conservation thereby spurring the market statistics.
 

Australia is estimated to register exponential growth through 2026 impelled by booming renewable sector and large-scale adoption of solar plants. Technological system upgradations along with favorable government incentives aimed at achieving energy procurement and independency from fossil fuels will foster the market demand.
 

Prominent companies operating in the energy management systems market include NX Technologies, Toshiba, Eaton, Mitsubishi, Ingersoll Rand, Johnson Controls, Siemens, General Electric, ABB, ENGIE Impact, C3.ai, IBM, Honeywell, Schneider Electric, Optimum Energy, Rockwell Automation, GridPoint, Telkonet, Dexma Sensors, and Emerson Electric amongst others. The key manufacturers are focused at providing updated and technology integrated units to their customers in order to sustain their competitive advantage.