Industrial Energy Management Systems Market 2022 | Scope of Current and Future Industries 2028

 The global industrial energy management systems market is expected to be  valued  at around USD 30.75 billion in 2022   . With rapid industrialization in developing regions, the overall market is expected  to grow at a strong CAGR of 8.5% from  2022 to 2028 , surpassing its valuation  of $50.3 billion  by the end of 2028.

The industrial energy management systems market has witnessed significant growth over the past few decades. Currently, it holds about 40% of the global energy management system market   . The increasing demands of various industries to reduce energy consumption, increase productivity and reduce carbon emission levels have stimulated the need for industrial energy management systems.

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Businesses Adopting Cloud Computing for Efficiency and Scalability

The need for energy-efficient solutions will never diminish. Every sector uses energy, whether conventional or non-traditional. However, the growing demand for electricity has made the industry more inclined to use electricity in every possible way to meet the demand for highly advanced technology.

This creates room for energy efficient systems that use energy efficiently and reduce costs and increase profitability as well as comply with environmental regulations. Green initiatives by governments have introduced new policies to save energy and reduce carbon footprints. Real-time monitoring of energy consumption patterns is expected to play a significant role in market growth over the forecast period.

Furthermore, cloud computing has also marked its presence in the global industrial energy management systems market with advancements in technology and systems. It provides benefits such as real-time updates and software upgrades, allowing users to utilize data more efficiently.

In the field of energy management, industries are increasingly adopting cloud-based software to gain significant advantages such as scalability, robustness, user-friendly access, low cost, reduced complexity, and granular visibility of energy consumption information sex. Enterprise adoption of cloud computing is expected to be on the rise to improve overall efficiency.

Adoption of smart meters will be key to reducing energy consumption

New advanced metering technology simplifies the process of collecting detailed electricity usage data, as well as the analytical capabilities of facility energy management systems. It is designed to simplify the complex problems encountered by industrial energy users and can identify multiple categories of energy waste.

The technology addresses fundamental errors in control system programming as well as errors in maintenance and service procedures, thereby propelling the growth of the industrial energy management systems market.

Intense competition among players in the global Industrial Energy Management Systems market will continue to force companies to offer a wide range of competing services to maintain and strengthen their market share.

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Competitive Landscape

Leading players in the Industrial Energy Management Systems market are focusing on expanding their product portfolios and services to help the industry manage its energy regimes. In addition to this, they are also using various strategies such as mergers, partnerships, new product launches, acquisitions and partnerships to dominate the market. E.g,

  • Cisco Systems
  • Siemens AG
  • General Electric Company
  • Schneider Electric SE
  • emerson electric co.
  • ASEA Brown Boveri (ABB) Ltd.
  • Eaton Corporation
  • EnerNOC, Inc.
Industrial Energy Management Systems Market by Category

 

By component:

  • Technology
    • energy platform
    • Distributed Control System (DCS)
    • Meter Data Management (MDM)
    • Peak Load Control System (PLCS)
    • Programmable Logic Control (PLC)
    • energy analysis
    • Supervisory Control and Data Acquisition (SCADA)
    • Energy Management Information System (EMIS)
  • hardware
    • Communication Network Hardware
    • industrial hardware
      • smart meter
      • Heating, Ventilation and Air Conditioning (HVAC)
      • Load Control Switch (LCS)
      • launcher
      • Human Machine Interface (HMI)/Operation Panel
      • other
  • Serve
    • consult
    • system integrator
    • Maintenance and Support Services

By end user:

  • car
  • put up
  • electronic product
  • food and drinks
  • mining
  • Petroleum and natural gas
  • Petrochemicals
  • utility

By region:

  • Kitami
  • Latin America
  • Western Europe
  • Eastern Europe
  • Southeast Asia and the Pacific
  • China
  •  Japan
  • Middle East and Africa

Key questions answered in the report

  • What is the current valuation of the Industrial Energy Management System market?
  • Who are the market leaders in Industrial Energy Management Systems?

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