Lewes, DE -- (SBWire) -- 09/15/2016 --Report forecast the global generation management systems market to grow at a CAGR of 3.52% during the period 2016-2020.
GMS are traditionally a part of the energy management systems; it is a mission critical tool that enables power companies or asset managers to manage their fleet of generation assets. GMS is a vital part of the modern power grid. It enables asset managers to optimize their assets for efficient power production and balance the profitability with risk and cost. Generation companies operate in various geographical areas and in different energy markets. GMS monitors the demand trend on the power exchange and provides an interface, thereby allowing proper planning of the supply to meet the spot market demand.
The report covers the present scenario and the growth prospects of the global generation management systems market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top four vendors operating in the market.
The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA
According to the report, need for improved reliability is a key driver aiding to the growth of this market. Financial services are one of the most data-intensive industries. The deregulation of the power market has structurally changed the power sector. This has led to intense competition requiring the plant operators to improve the efficiency of the plants and provide reliable service to their customers. Therefore, to maximize their profits and stay ahead in the competition, utilities are adopting generation management systems that provide solutions for day to day operations for quick response times. These systems are also designed to gather data from other departments for load forecasting and optimizing the power generation resources to provide continuous power to their consumers, while keeping the prices of electricity low. Profitable operation requires the power plants to run efficiently, have reduced maintenance costs and be failure proof.
Further, the report states that reluctance of grid operators is challenge the market is facing. Semiconductor manufacturing equipment is expensive. GMS is a vital role in the management of the generation assets. It is a control system that enables the utilities to plan their day to day functions and meet the demand by optimizing the power generation fleet. It is typically integrated with EMS. The increasing complexities of power generation due to a rise in the number of power sources and deregulation have led to the adoption of GMS as a stand-alone system by grid operators. However, the scenario is not same. Not every utility has adopted a stand-alone GMS system. Utilities or grid operators find that the automatic generation control system available on SCADA, which performs part of the functions of a GMS, is considered sufficient and are not willing to switch to a separate GMS system. Therefore, the reluctance of the grid operator to use a standalone GMS acts as a major hindrance to a growth of the market.
Global Generation Management Systems Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
key players in the global generation management systems market: ABB, GE-Alstom Grid, Open Systems International (OSI), and Siemens
Other Prominent Vendors in the market are: Atos, Schneider Electric, Emerson, IBM, Honeywell, and Customized Energy Solutions
Market driver
- Need for improved reliability
- For a full, detailed list, view our report
Market challenge
- Reluctance of grid operators
- For a full, detailed list, view our report
Market trend
- Increased integration of power resources
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 63 pages and 42 Exhibit "Global Generation Management Systems Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by application, Geographical segmentation, Key leading countries, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.
For more information Visit at: http://www.marketresearchreports.com/technavio/global-generation-management-systems-market-2016-2020
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