The global energy management system market is estimated to grow at a CAGR of around 20% during 2015-2020 due to highly volatile electricity prices, government regulations and growing awareness among consumers.
The report Global Energy Management Systems Market Outlook 2020, identifies and describes the market dynamics in important segments of energy management, thus highlighting the areas offering promising growth potentials. On studying the market thoroughly, the research observed that trends like increasing usage of smart grid services, regulatory initiatives to control energy consumption, price fluctuations in global energy market are propelling the demand for energy management systems worldwide. In the report, the market size has been studied in two major parts, by segment and by application. The analysis deciphers that energy management systems like various hardware (smart meter, sensor, smart thermostat) and software are the main components of the growth of energy management system industry. The report also discusses about the growth potential of application market that includes home energy management, building energy management and industrial energy management systems.
In addition to this, the report includes an in-depth regional analysis of the major energy management systems markets. The study reveals that although North America and Europe hold the maximum market share in the international front, spurring demand in the Asia-Pacific, Latin America and Middle-East regions is driving the global energy management systems market further.
Source: Research and Markets