Energy Management System Market is expected to grow at USD ~89 Billion by 2023, at ~18% of CAGR between 2017 and 2023 | Energy Management System Market
Pune, Maharashtra -- (SBWIRE) -- 05/16/2017 -- Energy Management System Market is growing rapidly over 18% of CAGR and is expected to reach at USD ~89 billion by the end of forecast period.
Energy management system is the system that monitors and conserves energy in a building or an organization. This system meters the energy consumption and collects the data required for conserving energy. This system tracks the progress by analyzing the meter data and monitoring the results obtained. This system takes actions to target the factors causing energy conservation such as tackling the routine waste and replacing it with equipment.
The driving factors for energy management system market include rising awareness among people to improve environment quality, increasing demand for green environment all around the world, awareness among factory owners to implement energy management systems for their production units in order to have healthy environment have led to growth of energy management systems in the market. The advantage of using this system is that it reduces costs due to which most of the organization can save up to half percent of fuel by managing the energy use. The only drawback is that some of the organization do not see energy management as an opportunity to improve performance and reduce costs.
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Regional analysis for energy management system market is studied in different geographic regions such as North- America, Europe, Asia-Pacific and Rest of the World. North America is expected to be leading player due to increasing demand for home energy management systems which are implemented in residential sector. These systems provide healthy environment and help to reduce global warming which has led to growth in the market share in North America. Europe is estimated to acquire second largest market share due to increased adoption of these systems in power and energy.
-Honeywell International Inc. (U.S.)
-Cisco Systems Inc. (U.S.)
-International Business Machines Corporation (U.S.)
-Siemens AG Ltd. (Germany)
-Eaton Corporation PLC (Ireland)
-CA Technologies (U.S.)
-Emerson Electric Company (U.S.)
-Daikin Industries Ltd. (Japan)
-Carma Industries Inc. (Canada)
-Enernoc Inc. (U.S.)
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on "The Energy Management System Market Research Report -Forecast to 2023.
The energy management system market is segmented on the basis of software, solution and vertical. The vertical segment consists of telecommunication and IT, power and energy, healthcare, manufacturing, official & commercial buildings. By vertical segment, energy management systems used in healthcare industry provide improved air quality in healthcare facilities which reduce the risk of infections among the staff. The system ensures control of energy usage and allows facility teams to provide consistency of service while managing energy usage and costs.
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Market Research Analysis:
Energy management system provides improvement in energy performance. This system is suitable for all the organization irrespective of size and sector. These systems set energy objectives & targets and implement it to obtain the required results. The long term benefits obtained from these systems are reduced costs year after year, reduced energy consumption over a long term and influencing the energy requirements of the particular industry.
Market Research Analysis
On the basis of end user, global digital printing packaging market is segmented as food & beverages, personal care, pharmaceuticals, electronics goods and others. Out of them, the food & beverages sector dominate the end user segment of global digital printing packaging market. It accounts for the largest share mainly due to the growing demand for packaged food from developing as well as developed country. Additionally, the rising health consciousness among consumers also drives the growth of this market.
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