Call for Energy Saving to Drive the Industrial Energy Management System Market
As per a report published on XploreMR, the global industrial energy management system market is expected to get upscaled between 2020 and 2030.
Governments all over the world are coming up with stern mandates and regulations with the sole purpose of reducing carbon footprint. Also, coping up with the ever-increasing demand for electricity is asking for efficient industrial energy management system. The ongoing advancements on the technological front along with increasing number of energy incentive programs with regards to industrial sectors in the developing economies are expected to further complement the market.
Industrial energy management systems are witnessing an exponential demand from end-users like enterprises and office spaces, so as to reduce their operating costs. Plus, there is a growing emphasis on monitoring and analysing load fluctuation, equipment performance, and real time consumption, and, not to forget – faster urban infrastructural development, especially in the smart buildings.
Industrial Energy Management System Market Dynamics
The residential establishments are seeing an escalation on the count of consumption of energy. Ability of sustaining stable electricity is also called for. EIA, in the year 2017, did announce that the consumption of energy at the global level will increase by close to 56% by the year 2040.
The advantages of industrial energy management systems include interoperability, easy deployment, user-friendly interface, and quick set-up. They are bound to fuel their adoption. Besides, smart homes developing in line with heavy investment pertaining to wireless technology lets end-user exercise control over power consumption, which is expected to drive the market further.
What Do The Components Say?
Hardware components form the major part of industrial energy management systems. Their basic function is that of collecting data on local grounds and passing the information relevant to dashboard, thereby letting user peruse live data that is being collected. Building automation is witnessing a steep increase due to utilities’ improved life cycle. This is another driving factor.
The sensors are also expected to experience a stupendous growth in demand owing to ability of making informed decisions and also detecting the defects regarding power supply. The smart grid’s down-stream sector has turned the tide in favour of realizing smart homes. The traditional devices also need to be replaced with smart units. This factor will certainly take the industrial energy management system market by storm by 2030.
Healthcare sector to benefit?
The healthcare sector has witnessed maximum turbulence in the last few months, especially after the onslaught of Covid-19. As majority of this sector is engaged in devising preventive means regarding further spread of Covid-19, the factors like “budget” need to be considered. Cost-effectiveness over here will help in diverting more funds towards combating Covid-19. This factor will give an impetus to the industrial energy management systems market going forward.
North America holds the largest market share due to the US witnessing increasing initiatives towards energy infrastructure getting digitized. The US has also laid down energy codes consisting of MEPS (Minimum Energy Performance Standards) for appliances, buildings, and lighting apart from compulsive energy intensity targets.
MEA is catching up with Saudi Arabia holding the largest market share. SCADA platforms are seeing an increasing penetration. Plus, reduction in prices of IoT sensors will add to the substantiation of market. Latin America holds the distinction of contributing to greener environment in the United Nations Climate Change Conference (COP23) in the year 2017 by coming up with strategies to lessen greenhouse emissions.
The key players in the industrial energy management system market include Dexma Sensors, Rockwell Automation, Skyfoundry, eSight Energy, Optimum Energy, Schneider Electric, IBM, Honeywell International, Siemens, Powerhouse Dynamics, Telkonet, Dexma Sensors, Emerson, and Johnsons Controls.
Important Questions Answered
- What is the growth potential of the Industrial Energy Management System Market?
- Which company is currently leading the Industrial Energy Management System Market? Will the company continue with the winning streak during the forecast period?
- What are the top strategies that players are expected to adopt in the years to come?
- Which regional market is anticipated to secure the highest market share?
- How will the competitive landscape change in future?
- What do players need to do to adapt to future competitive changes?
- What will be the total production and consumption with regards to Industrial Energy Management System by 2030?
- Which are the key upcoming technologies? How will they impact the Industrial Energy Management System Market?
- Which product segment is expected to show the highest CAGR?
- Which application is forecast to gain the biggest market share?
Highlights of TOC:
Overview: Along with a broad overview of the Industrial Energy Management System Market, this section gives an overview of the report to give an idea about the nature and contents of the research study.
Market Dynamics: Here, the authors of the report have comprehensively discussed about key drivers, restraints, challenges, trends, and opportunities of the Industrial Energy Management System Market.
Product Segments: This part of the report throws light on the market growth of several types of products sold by leading companies.
Application Segments: The analysts authoring the report have deeply assessed the market potential of key applications and identified future opportunities they are expected to create in the Industrial Energy Management System Market.
Geographical Segments: Each regional market is carefully looked into for understanding its current and future growth scenarios.
Company Profiles: Top players of the Industrial Energy Management System Market are thoroughly profiled in the report based on their market share, market served, products, applications, regional growth, and other factors.
Global Industrial Energy Management System Market
The new research report by XploreMR, highlights the Global Industrial Energy Management System. It starts with an overview of the industrial energy management system market in terms of value. In addition, this section includes analysis of key trends, drivers and challenges from the supply, demand and economy side, which are influencing the Industrial Energy Management System Market. The industrial energy management system market is classified on the basis of component, end user industry, and region. By component, the market is segmented as technology, hardware and services. The technology segment is further segmented into energy platform, distributed control systems (DCS), meter data management (MDM), peak load control systems (PLCS), programmable logic controls (PLC), energy analytics, supervisory control and data acquisition (SCADA), and Energy Management Information Systems (EMIS).
The hardware segment is further divided into communication network hardware and industrial hardware. A detailed analysis has been provided for every segment in terms of market size analysis for Industrial Energy Management System market across the different regions. The section provides a detailed analysis covering key trends. The next section highlights detailed analysis of Industrial Energy Management System market across various countries in the region. It provides a market outlook for 2018–2028 and sets the forecast within the context of industrial energy management system market, including latest technological developments as well as offerings in the market.
XploreMR collects data from secondary sources including company annual reports, association publications, industry presentations, white papers, and company press releases apart from these we leverage over paid database subscriptions and industry magazines to collect market information and developments in exhaustive manner.
After being done with desk research, detailed questionnaire and discussion guide is formulated to initiate primary research with key industry personnel; the discussion aims at collecting key insights, growth perspectives, prevalent market trends and quantitative insights including market size and competition developments. Both of these research approaches help us in arriving at base year numbers and market hypothesis.
In this phase, XploreMR validates the data using macro and micro economic factors. For instance, growth in electricity consumption, industry value added, other industry factors, economic performance, growth of top players and sector performance is closely studied to arrive at precise estimates and refine anomalies if any.
Data Analysis and Projection
Data analysis and projections were made based on proprietary research frameworks and statistical analysis, which was further validated from industry participants. These frameworks include Y-o-Y growth projections, macro-economic factor performance, market attractiveness analysis, key financial ratios, and others.
For public companies we capture the data from company website, annual reports, investor presentations, paid databases. While for privately held companies, we try to gather information from the paid databases (like Factiva) and based on the information we gather from databases we estimate revenue for the companies. In addition, the team tries to establish primary contact with the companies in order to validate the assumptions or to gather quality inputs.
Key Questions Answered -
- How the market has performed over the past few years?
- What have been the challenges for market participants and how did they overcome them?
- How has the technology landscape evolved over the past years?
- How the competitors have performed and what have been their growth strategies?
- What is the market potential expected to look like in near future across the globe?
- How to sustain and grow market share?
- What should be the future course of action?
- Where do I currently stand?
- Which are the segments, factors, regions offering promising growth potential?
- What are the trends in the market and am I ready for them?
Industrial Energy Management System Market: Developed Regions Move towards Sustainability Goals: Global Market Analysis 2013-2017 and Opportunity Assessment 2018-2028Buy Now
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