Energy Management Systems Market
The energy management systems market size has grown significantly in recent years. However, due to the outbreak of the COVID-19 pandemic, market is declining.
PORTLAND, PORTLAND, OR, UNITED STATES, July 21, 2023/EINPresswire.com/ — As per the report published by Allied Market Research, the global energy management systems market generated $36.2 billion in 2020, and is expected to reach $161.9 billion by 2030, growing at a CAGR of 16.2% from 2021 to 2030.
Surge in inclination toward energy efficiencies and regulatory obligations drives the global energy management systems market. However, financial difficulties, hidden costs, and long payback time hinder the market growth. On the contrary, emerging economies would unlock new opportunities in the future.
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Covid-19 scenario:
• The Covid-19 pandemic negatively affected the market due to diminished energy usage in heavy coal, petroleum, and natural gas industries.
• However, the market has now survived due to increased energy consumption from residential units and rise in activities such as online shopping, remote work, and powering home appliances.
The report segments the global energy management system market on the basis of component, end user, type, application, and region.
Based on component, the report is divided into service and solution. The solution segment held the largest share in 2020, accounting for nearly three-fourths of the market. However, the service segment is projected to register the highest CAGR of 18.5% during the forecast period.
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On the basis of end user, the energy and utilities segment held the largest share in 2020, contributing to nearly one-third of the market. However, the healthcare segment is estimated to manifest the highest CAGR of 19.1% from 2021 to 2030.
The global energy management systems industry is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the lion’s share in 2020, accounting for nearly one-third of the market. In addition, the region is anticipated to portray the highest CAGR of 17.9% during the forecast period.
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The global energy management systems market includes an in-depth analysis of the prime market players such as Siemens AG, yokogawa electric corporation, C3 energy, Delta electronics, Dexma, General Electric company, Gridpoint Systems, Honeywell International Inc., Johnson controls international plc., and Schneider Electric.
Key Benefits For Stakeholders:
• This report provides a quantitative analysis of the energy management systems market forecast, current trends, estimations, and dynamics of the energy management systems market analysis from 2020 to 2030 to identify the prevailing energy management systems market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the energy management systems market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes an analysis of the regional as well as global energy management systems market trends, key players, market segments, application areas, and market growth strategies.
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