Energy Management Systems Market : Insights into Growth Opportunities and Challenges
The global energy management systems market size was USD 40.77 Billion in 2022 and is expected to register a revenue CAGR of 12.8% during the forecast period. Increasing awareness about climate change, stringent government regulations regarding carbon emissions, increase in installation of smart grids and smart meters are some of the major factors driving the market revenue growth. In addition, growth of urbanization and digitalization is also contributing to the market revenue growth.
Some of the key factors driving the growth of the global Energy Management Systems market include expanding R&D efforts to develop novel Energy Management Systems products for a variety of applications and rising demand for mercury control technology for industrial air purification. The most recent data on the COVID-19 pandemic market condition is provided in the research. The investigation indicates that COVID-19 plays a vital role in the market's dynamically altered environment. The study carefully investigates how the pandemic has altered market dynamics and trends while also precisely analysing how the crisis has impacted the market as a whole.
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Effect of COVID-19 on the global market for Energy Management Systems
The COVID-19 pandemic had a significant negative influence on the market for Energy Management Systems in 2020, significantly decreasing its CAGR. In 2020, manufacturers and suppliers of Energy Management Systems were significantly impacted by federal and national safety and legal orders. The majority of businesses have been impacted by the COVID-19 pandemic. Mandates for business closures, restricted municipal and state government office activities, and social conventions of distance had an impact on the production of Energy Management Systems in 2020. Additionally, demand for Energy Management Systems decreased across a range of end-use sectors. The pandemic epidemic also resulted in a decline in global investments in the water sector.
Energy Management Systems market : Competitive Landscape
The prominent players operating in the Energy Management Systems market are profiled in-depth in the report and their strategies, collaborations, and product innovations. The analysis of the key players and their strategies to fortify their presence in the market impart a better understanding of the competitive landscape of the Energy Management Systems market .
Some of the prominent players operating in the market are:
Schneider Electric, Siemens AG, Honeywell International Inc., ABB Ltd., Eaton, Johnson Controls, Cisco Systems, Inc., IBM Corporation, GE DIGITAL, Emerson Electric Co., Delta Electronics, Inc., Rockwell Automation, Schweitzer Engineering Laboratories, Inc., Yokogawa Electric Corporation, Engie, Itron, Inc.C3.ai, Inc., Ameresco, Oracle, and Enel Energia S.p.a.
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The research study examines historic data from 2018 and 2020 to draw forecasts until 2028. The timeline makes the report an invaluable resource for readers, investors, and stakeholders looking for key insights in readily accessible documents with the information presented in the form of tables, charts, and graphs.
Key questions answered in the report:
What will be the development pace of Energy Management Systems market ?
What are the key factors driving the Global Energy Management Systems market ?
Who are the key manufacturers in the market space?
What are the openings, hazards, and outline of the market?
What is sales, revenue, and price analysis of top manufacturers of Energy Management Systems market ?
Who are the distributors, traders, and dealers of Energy Management Systems market ?
What are the Energy Management Systems market opportunities and threats faced by the vendors in the Global Energy Management Systems industries?
What are deals, incomes, and value examinations by types and utilizations of the market?
What are deals, income, and value examinations by areas of enterprises?
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Segments Covered in this report are:
Type Outlook (Revenue, USD Billion; 2019-2032)
- Industrial Energy Management Systems
- Building Energy Management Systems
- Home Energy Management Systems
Deployment Outlook (Revenue, USD Billion; 2019-2032)
- On-Premises
- Cloud
Application Outlook (Revenue, USD Billion; 2019-2032)
- Commercial
- Residential
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Regional Bifurcation of the Energy Management Systems market Includes:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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