According to QY Research, The global Industrial Energy Management System (IEMS) market size is projected to reach US$ 31956 million by 2027, from US$ 26359 million in 2019, at a CAGR of 4.51% during 2020-2027.
An 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 and/or transmission system. In addition, it could be used in small-scale systems like microgrids.
Global Industrial Energy Management System (IEMS) Market- Key Players
Cisco, Siemens, General Electric, Schneider Electric, ABB, Eaton, Johnson Controls, Honeywell, Rockwell, EFT, Azbil, IBM, Emerson Electric, Delta Electronics, DEXMA, Yokogawa Electric Corporation, GridPoint, CET, POWERTECH, are some of the key players, functioning in the global Industrial Energy Management System (IEMS) market. General Electric, Schneider Electric, ABB are top leaders in the industry. The industry is fragmented and the above top three players own about 19.49% share in 2019.
Drivers for Industrial Energy Management System (IEMS)
The use of energy analytics for the growth of business success and cost reduction in many industries has been a significant asset in Western Europe with the high prevalence of energy consciousness and a shift towards more efficient energy use and production. In North America, strategic energy management technologies and programs have been adopted more recently as both the consumer base desires companies to be more energy conscious and companies desire cost reduction with efficiency. The Energy Management System is an energy consumption monitoring platform that collects, analyses and displays energy expenditure values such as consumption, costs and other input, providing complete visibility of a very significant aspect for companies - energy - which impacts all business sectors, helping customers identify the most effective and efficient actions for correct energy optimisation.
Global Industrial Energy Management System (IEMS) Market: Segmental Analysis
The industrial energy management system consists of three parts: Software, Hardware and Service. Among these three parts, hardware accounts for about half market share globally. In 2019, the hardware market reached to 13.29 billion USD.
Global Industrial Energy Management System (IEMS) Market: Regional Analysis
Asia Pacific, North America, Europe, South America, Middle East and Africa are analyzed in the report. Asia Pacific is the largest region of industrial energy management system, which held 32.92% share globally in 2019. The follower is Europe with 31.30% share.
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