Energy Management Systems are used primarily to evaluate, visualize, and monitor the total level of energy consumption by a household or an organization. The system collects all the essential information related to energy usage through different techniques. In general, such systems are widely used in distribution, transmission, and power generation. Organizations with such systems achieve more significant savings than the organizations those who don’t have these systems. The reason is they can effectively review and manage total energy consumption across the organization. The savings go straight to the bottom line, and it can free up the capital for other important tasks such as business development.
The global Energy Management Systems market is now growing. The reasons behind this can be the increasing usage of smart grid services, competition among companies, government, and economic policies and more. Besides, as the populations and urbanizations are growing, the demand for electricity has gone up. It becomes quite essential to use power management systems in place to use energy effectively. So, it is estimated that in the coming years the global Energy Management System will witness tremendous growth.
The total value of the market in 2018 was $ xx million, but now it is estimated that it will reach USD xx million by the end of 2025. During the forecasting period, the Compound Annual Growth Rate will be around xx percent.
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Energy Management Systems are used to monitor, assess and visualize energy consumption by an Organisation or a Household. This system gathers the real time information on the energy usage by above techniques. These systems are used in power generation, transmission and distribution. The Global Energy Management Systems Market was 27.9 Billion USD in 2018 and is estimated to reach 59.66 Billion USD by 2025 at a CAGR of 11.47% during the forecast period.
Growth by Region
North America is expected to dominate Global Energy Management Systems Market followed by Europe and Asia Pacific
Drivers vs. Constraints
The increasing use of smart grid devices, growing competition among industrial enterprises and supporting government policies are the reasons for the growth of Global Energy Management Systems Market.
Industry Structure and Updates
In February 2017, Schneider Electric collaborated with ENGIE in order to digitize the energy sector. Especially this joint is made to explore and deploy new digital solutions for different power sources.
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