Global Energy Management System Market Research Report Trends and Insights 2020-2026

Energy management refers to controlling, conserving, and monitoring energy usage in buildings and industries. Energy management enables organizations to reduce cost as energy prices are rapidly inflating. It also reduces carbon emissions which will ultimately promote the green, sustainable energy usage and minimize the risk by decreasing the demand for energy supply by controlling the energy usage with efficient energy management systems.

The global energy management system market is likely to gain momentum from numerous benefits, namely, profitability, less operation cost, and improved productivity. Fortune Business Insights, in a published report titled "Energy Management System Market, Size, Share, and Global Trend By Type (System, Services), By End-User (Oil and Gas, Manufacturing, Building Automation, Energy and Utilities, Automotive, Pharmaceutical, and Others) and Geography Forecast till 2026," states that the global market is anticipated to reach US$ 48,901.1 Mn by the end of 2026, thereby exhibiting an impressive CAGR of 13.7% during the forecast period (2019 – 2026). Fortune Business Insights further mentions that the global market was valued at US$ 18,269.6 Mn in 2018.

Valued at US$ 6952.4 Mn, North America Energy Management System Market to Exhibit Notable Growth

The global energy management system market is geographically divided into Asia Pacific, the Middle East and Africa, Latin America, North America, and Europe. Amongst these, North America energy management system market revenue stood at US$ 6952.4 Mn in 2018. Fortune Business Insights predicts that the region will retain its position throughout the forecast period. It is likely to occur as numerous states in this region have begun introducing the latest energy efficiency goals. They have also started proposing energy efficiency resources standards.

The energy management system market in the U.S. will witness persistent growth during the forecast period owing to the growth of energy certifications and energy analytics. Moreover, several industries have started facing social pressures due to environmental hazards. They are hence, preserving a certain amount of energy for business and building practices. For all these activities, energy management is vital.

Recently, in June 2019, Enel X, one of the largest providers of demand response worldwide, based in the U.S., announced its partnership with Panasonic Solar, a prominent developer of high-efficiency solar panels. The main aim of this collaboration is to commercialize the solutions for corporate and domestic generation at an affordable rate from proficient renewable energy sources.

Fortune Business Insights has profiled some of the leading companies operating in the global energy management system market. They are:

• Tendril Networks Inc.
• Mitsubishi Electric Corporation
• IBM Corporation
• Eaton
• Siemens
• Rockwell Automation Inc.
• Cisco Systems Inc.
• Honeywell International Inc.
• SAP SE
• General Electric Co.
• Enel X
• Schneider Electric SE

As per the report, extreme completion amongst the energy suppliers, increasing awareness regarding the environmental concerns, such as global warming, and surge in the prices of oil are few of the major factors that have attracted numerous public and private enterprises as well as the governments of several countries to invest huge sums to increase the global energy management system market sales.

Additionally, the newly developed energy management solutions would aid in the wise use of renewable and non-renewable energy resources across the world. Enterprises would also be able to identify and improve the excessive wastage of energy through an enhanced energy management process.

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