London, Feb. 13, 2023 (GLOBE NEWSWIRE) -- The worldwide energy conservation drive stimulates adoption of aids such as energy management systems (EMS). The global energy management system (EMS) market has been examined thoroughly in a new upcoming study of Fairfield Market Research. The continuous quest for reduced carbon footprint, and lowered energy costs primarily uplift the market, reports the study. Preventing potential risks and ensuring energy security are projected to be the top advantages underpinning energy management system market expansion on a global level. As more businesses are keeping environmental sustainability as a winning imperative amid competition, and adopt energy conservation as their social environmental responsibility, demand for energy management systems will be on the rise. Supportive, encouraging energy initiatives of governments further strengthen the growth potential of the market. Novel ways coming to the fore as a potential approach to address global climate change will also drive the energy management system (EMS) market ahead, say the initial findings of the report.
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Insights into Segmental Analysis
The primary market analysis by type of EMS reveals dominance of the home energy management system (HEMS) segment in global energy management system market. The segment will most likely demonstrate the fastest rate of growth as an increasing number of homeowners realize the significance of power saving. Growing awareness about the advantages of intelligent energy management is expected to shape a scenario with modern homes that are equipped with HEMS for substantially improved energy efficiency, cost efficiency, and energy conservation and security for distributed systems that exist within a robust smart grid architecture. With more consumers seeking better energy efficiency output from some of the highest home energy consuming appliances like freezers, and water heaters, the home EMS segment will be on an uptrend, reports the study.
Insights into Regional Analysis
Government’s dedicated effort toward smart meter installations, grid modernization, and maximum deployment of household EMS for monitoring and management of overall electricity consumption drives the growth of market across North American region. Greater emphasis on energy efficiency initiatives is expected to account for dominance of North America’s energy management system (EMS) market in global space. While manufacturing sector has been at the forefront of adoption, governments here vigorously encourage the other industry verticals as well, in form of subsidizations and tax breaks, which will further drive the market growth here. The US is especially developing an attractive market for residential EMS, suggest the initial report findings. Growing demand for cloud-based energy management systems has recently pushed the growth outlook of the market up. Cloud-based systems are likely to remain popular for remote real-time monitoring of HVAC equipment, as well as the other energy-intensive equipment, appliances, and electronic gadgets. On the other hand, Europe also represents an ambitious energy management system (EMS) market on the back of growing preference for smart grid solutions in old power infrastructural upgrades.
Key Market Players
Schneider Electric, geo (Green Energy Options), Hitachi, ABB, General Electric, Cisco Systems, Inc., Siemens, Eaton, Honeywell International Inc., Emerson Electric Co., Neptune India, Mitsubishi Electric Corporation, Enel X, Rockwell Automation, Inc., IBM, Delta Electronics, Inc., C3 AI , Energy Management Systems, Inc., Weidmuller, Sensorberg, SWITCH Energy Inc., Budderfly, Distech Controls, GridPoint,Yokogawa Electric Corporation
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The Global Energy Management System (EMS) Market is Segmented as Below:
By Component
- Software
- Hardware
- Services
By Type
- Home Energy Management Systems
- Building Energy Management Systems
- Industrial Energy Management Systems
By Deployment
- On-Premise
- Cloud-Based
By End-User
- Power & Energy
- Telecom & IT
- Manufacturing
- Residential & Commercial
- Food & Beverages
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Russia
- Rest of Europe
- Asia Pacific
- Japan
- South Korea
- India
- China
- Rest of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Type-Wise Analysis
- Component-Wise Analysis
- Deployment-Wise Analysis
- End User-Wise Analysis
- Region-Wise Analysis
- Country-Wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
Learn More About the Report Inclusions, and Research Methodology: https://www.fairfieldmarketresearch.com/report/energy-management-system-ems-market/more-information
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