Market Overview

Global Energy Management Systems Market to 2023: Analysis by Type of Energy, Component, Industry Vertical, and Geography - ResearchAndMarkets.com

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The "Global
Energy Management Systems Market - Segmented by Type of Energy (HEMS,
BEMS), Components (Hardware, Software, Services), Industry Vertical and
Geography - Growth, Trends and Forecasts (2018 - 2023)"
report
has been added to ResearchAndMarkets.com's offering.

The global energy management systems market was valued at USD 37.26
billion in 2017 and is projected to reach a value of USD 105.86 billion
by 2023, at a CAGR of 19.01% over the forecast period, 2018-2023.

Owing to the increasing use of smart grid services, growing competition
among industrial enterprises, and supporting government policies and
incentives associated with energy efficiency, the market is expected to
witness considerable growth in the future.

Currently, the world faces the problem of energy security and
inefficient access to electricity because of which various initiatives
are being taken to effectively manage the energy sources. Due to the
increasing environmental concerns regarding extinction of conventional
energy sources, it is necessary to shift toward the use of renewable
energy sources. These concerns call for efficient energy management,
which has prompted many countries to generate electricity through
renewable sources.

China emerged as the leader in the installed renewable energy capacity
industry in 2016, with a combined capacity of 545.21 gigawatt. However,
lack of skilled personnel challenges the market from growing
exponentially.

Key Highlights

  • Increasing Usage of Smart Grids Will Drive the Market Growth
  • Manufacturing Industry Will Account for a Significant Share
  • North America is Expected to Lead the Market with the Largest Share

Developments in the Market

  • Aclara, which is a leading supplier of smart infrastructure solutions
    to electric, gas and water utilities, had acquired GE's majority
    equity position in General Electric Philippines Meter and Instrument
    Co.
  • ABB and IBM collaborated in industrial artificial intelligence
    solutions.
  • Schneider Electric collaborated with ENGIE, to digitize the energy
    sector.

Companies Featured

  • IBM Corporation
  • Rockwell Automation Inc.
  • Siemens AG
  • Schneider Electric Co.
  • Cisco Systems
  • Eaton Corporation
  • Honeywell International Inc.
  • CA Technologies SAP
  • General Electric Co.
  • Tendril
  • Utilities Direct
  • EnergyCAP
  • EnerNOC Inc.

For more information about this report visit https://www.researchandmarkets.com/research/dh82xx/global_energy?w=4

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