Ever-increasing carbon emissions owing to worldwide rising energy demand will drive energy management system market

Ocean View, DE -- (SBWire) -- 05/26/2020 --Ever-increasing carbon emissions owing to worldwide rising energy demand will drive energy management system market. Most of the electrical energy worldwide is generated by burning fossil fuels like coal and natural gas leaving behind an enormous amount of carbon footprint. The escalating issue of global warming has suddenly spiked up the ground temperatures causing unwanted climate changes and hampering the environmental balance.

Key Companies in Energy Management System Market: - Emerson, Dexma Sensors Sl, Telkonet, Gridpoint Inc, Rockwell Automation, Inc., Skyfoundry LLC, Optimum Energy LLC, eSight Energy, Schneider Electric, Honeywell International Inc., IBM, C3Iot, Inc., Powerhouse Dynamics, Inc., ENGIE Insight, ABB Ltd, General Electric, Siemens AG, Johnson Controls Inc, Ingersoll-Rand PLC, Mitsubishi Heavy Industries

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The growing impact of climate change has led several counties to unite and form a standard to impose strict regulations on carbon emissions in their respective territories. For instance, 179 countries have signed the 'Paris Agreement' in order to limit the global GHG emissions. In addition, some of the major economies such as the U.S. and UK have authorized substantial budgets to meet the global emission standards, further promoting the product adoption.

Global initiatives to limit the carbon footprint will lead toward increasing adoption of energy conservation measures, stimulating the energy management system (EMS) market landscape. Depletion of fossil fuel reserves has been encouraging the nations to seek for sustainable, cleaner and reliable power source which should fuel energy management system market share. As per the study by Global Market Insights, Inc., energy management system (EMS) market will amass a substantial revenue size of about USD 43 billion by 2024.

Extensive product deployment across residential, commercial and industrial sectors is presumed to augment BEMS energy management system market share over the forecast timeline. Estimates claim that BEMS systems accounted for over 19% of the global energy management system share in 2017 attributed toward strict implementation of building protocols across the residential and commercial structures.

Rising infrastructural developments across the residential and industrial sectors will drive huge investments toward implementing energy conservation measures such as smart buildings. Such move will encourage large scale deployment of BEMS in order to adhere the energy efficiency codes. Furthermore, growing adoption of smart meters for facilitating energy optimization is anticipated to stimulate the business growth.

The German government has announced several programs to achieve energy sustainability. The 'National Action Plan on Energy Efficiency', specifically, had been unveiled to encourage investments toward innovative solutions to promote development of energy efficient buildings across the residential and industrial sector. As a part of the program, the local government also offers at least 30% subsidy to SMEs which can be utilized for upgrading the existing technologies and equipment hardware in order to improve manufacturing efficiency.

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Moreover, Germany has decided to reduce 20% of energy consumption by 2020, which will boost product demand over the forecast timeframe. In 2015, Germany accounted for over 25% of the Europe energy management system market share.

Some Points From Table Of Content: -
Chapter 4 Energy Management System Market, By Service
4.1 Energy management system market share by service, 2017 & 2024
4.2 IEMS
4.2.1 Global market from IEMS, 2013 – 2024
4.2.2 Global market from IEMS, by region, 2013 - 2024
4.3 BEMS
4.3.1 Global market from BEMS, 2013 – 2024
4.3.2 Global market from BEMS, by region, 2013 - 2024
4.4 HEMS
4.4.1 Global market from HEMS, 2013 – 2024

Chapter 5 Energy Management System Market, By Component
5.1 Energy management system market share by component, 2017 & 2024
5.2 Metering & field equipment
5.2.1 Global market from metering & field equipment, 2013 – 2024
5.2.2 Global market from metering & field equipment, by region, 2013 - 2024
5.3 Hardware
5.3.1 Global market from hardware, 2013 – 2024
5.3.2 Global market from hardware, by region, 2013 - 2024
5.4 Software
5.4.1 Global market from software, 2013 – 2024
5.5 Networking device
5.5.1 Global market from networking device, 2013 – 2024
5.6 Control systems
5.6.1 Global market from control systems, 2013 – 2024
5.7 Sensors
5.7.1 Global market from sensors, 2013 – 2024
5.8 Others
5.8.1 Global market from others, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/energy-management-system-EMS-market

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