September 30, 2019 by Johnson Paul
According to a new market report published by Credence Research, Inc., “Energy Management Systems (EMS) Market (Industrial Energy Management Systems (IEMS), Building Energy Management Systems (BEMS), Home Energy Management Systems (HEMS)) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 - 2022”, the market for energy management systems (EMS) is projected to grow at CAGR by 14.2 per cent from 2015 to 2022, reaching US$ 57.8 billion by 2022.
Product and Market Insights
Energy Management Systems (EMS) are electronic devices that enable customers to track, monitor and handle their energy consumption in an optimal way. The worldwide market for energy management systems (EMS) for construction and residential applications is presently at an emerging point of growth. The sector has committed to creating a universal platform capable of solving interface, interoperability and installation problems.
Browse the full report at https://www.credenceresearch.com/report/energy-management-systems-ems-market
The worldwide market for energy management systems (EMS) is competitive and technologically driven. Some of the major players in the energy management systems (EMS) industry include Honeywell International, Inc. (U.S.), General Electric Company (U.S.), Schneider Electric SE (France), Panasonic Corporation (Japan), Cisco Systems, Inc. (U.S.), Johnson Controls, Inc. (U.S.), Siemens AG (Germany), Eaton Corporation Plc (Ireland), Rockwell Automation, Inc. (U.S.), and Emerson Elean. Market competition is defined by the existence of suppliers of both key solutions and application subsystem vendors. Their strategy was to give alternatives for energy management as part of home and industrial automation goods and services. New entrants in the market for energy management systems (EMS) involve significant capital investment. As a technology-driven economy, players entering the market need to maintain pace with technological advances and devote a significant budget to research and development operations. On the contrary, favourable public laws encouraging optimum energy consumption are anticipated to have a beneficial effect on fresh players entering the market. Thus, the current market for energy management systems presents a mild risk to fresh entrants.
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