June 12, 2018 - 9:30 AM EDT
Print Email Article Font Down Font Up
Industrial Energy Management System Market Will Hit at a CAGR of 9.6% From 2018 to 2028 | Future Market Insights

VALLEY COTTAGE, New York, June 12, 2018 /PRNewswire/ --

The energy conservation emergency has led to a rise in the dependency on industrial energy management system. These systems are responsible for efficiently managing various industries and their consumption of energy by industrial applications. The complexities of an industrial application are handled by energy management systems as they optimize the energy balance, reduce energy consumption, increase productivity, and reduce the coal gas discharge. Several governments across the globe are also encouraging adoption of industrial energy management systems by industries, creating a favorable scenario for market growth.

     (Logo: https://mma.prnewswire.com/media/677274/Future_Market_Insights_Logo.jpg )

The global industrial energy management system market, as indicated by Future Market Insights, is projected to reach a market value of over US$ 50,300 Mn by the end of 2028. The sky-rocketing growth of market is also predicted to register a CAGR of 9.6% during the forecast period, 2018-2028.

Request a Sample Report with Table of Contents and Figures: https://www.futuremarketinsights.com/reports/sample/rep-gb-1653

Businesses Embracing Cloud Computing for Increased Efficiency & Scalability  

Demand for energy efficient solutions can never lower down. Energy is used in every sector, either in the form of conventional or non-conventional sources. However, the rising needs of electricity has inclined the industries more towards the use of electricity in every way possible, to meet the demand for highly advanced technologies. This creates scope for energy efficient systems that are necessary for the effective utilization of energy as well as to reduce costs and improve profitability, adhering to environmental regulations. Green initiatives proposed by various governments have introduced new policies for energy conservation and reduced carbon footprint. The real-time monitoring of energy consumption patterns is expected to play an important role in market growth over the forecast period.

Furthermore, as the technology and systems advances, cloud computing also marks its presence in the global industrial energy management systems market. Its offers benefits like updating and upgrading software in real time, facilitating users to utilize the data more efficiently. In the energy management space, industries are increasingly adopting cloud-based software to gain significant benefits such as scalability, robustness, user-friendly access, low cost, reduced complexity, and a granular level of visibility of energy consumption information. Adoption of cloud computing is anticipated to be on the rise among businesses, to improve overall efficiency.

Preview Industrial Energy Management System Market Segmentation By Component - Technology (Energy Platform, Distributed Control Systems, Meter Data Management, Peak Load Control Systems, Programmable Logic Controls, Energy Analytics, Supervisory Control And Data Acquisition, & Energy Management Information Systems) & Hardware (Communication Network Hardware & Industrial Hardware); & End User Industry: https://www.futuremarketinsights.com/reports/industrial-energy-management-system-market

Adoption of Smart Meters Will be the Key to Reduced Energy Consumption 

The new advanced metering technology has eased the process of gathering detailed electricity consumption data, analytical power of facility energy management systems. It is intended to simplify the complex issues encountered by industrial energy users, and can identify energy waste in a number of categories. This technology addresses basic errors in control system programming, and errors in maintenance and servicing procedures, thereby fueling the growth of industrial energy management systems market.

Intense competition among the participants in the global industrial energy management systems market will continue to compel companies to offer a wide range of competitive services, to sustain and strengthen their market share.

Our advisory services are aimed at helping you with specific, customized insights that are relevant to your specific challenges. Let us know about your challenges and our trusted advisors will connect with you: https://www.futuremarketinsights.com/askus/rep-gb-1653

More from FMI's Electronics, Semiconductors, and ICT: 

  • Energy Management System Market Taxonomy By Deployment - Cloud Based, On Premise; By Software - Utility Energy Management, Industrial Energy Management, Enterprise Carbon And Energy Management, Residential Energy Management; By Vertical - Automotive, Building Automation, Oil & Gas, Manufacturing, Pharmaceutical, Power And Energy, Others (F&B, Government Etc.): https://www.futuremarketinsights.com/reports/energy-management-system-market
  • Smart Home Devices Market segmentation by Devices- Lighting Control Devices: Dimmers, Switches, Sensors, Others; Security and Control Devices: Video Surveillance, Access Control, Fire and Smoke Detectors; Entertainment Devices, Healthcare Devices, Kitchen and Home Appliances, Energy Management Devices, HVAC; Services- Professional Services, Managed Services; Application- Building Energy Management, Security and Surveillance, Lighting, HVAC, Others: https://www.futuremarketinsights.com/reports/smart-home-devices-market
  • Digital Power Conversion Market Segmentation By Product Type - AC/DC Thermal Energy, Isolated DC/DC, Sequencers, DC/AC, Power Conditioning / Active Power Filtering, Hot Swap; By Application - Industrial, Automotive, Enterprise & Cloud Computing, Communication Infrastructure: https://www.futuremarketinsights.com/reports/digital-power-conversion-market

About Us 

Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

Browse More: Electronics, Semiconductors, and ICT

Contact Us
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
T (UK): + 44 (0) 20-7692-8790
Sales: [email protected]

Press Office: [email protected]

FMI Blog: http://www.fmiblog.com/

Website: http://www.futuremarketinsights.com


Source: PR Newswire (June 12, 2018 - 9:30 AM EDT)

News by QuoteMedia
www.quotemedia.com

Legal Notice