Industrial Energy Management Systems Market to 2027 - Global Analysis and Forecasts by Technology (Supervisory Control And Data Acquisition (SCADA), Programmable Logic Controls (PLC), Distributed Control System (DCS), Meter Data Management (MDM), Energy Management Information System (EMIS), Others); Hardware (Communication Network Hardware, Industrial Hardware); Services (System Integrators, Consulting, Maintenance and Support Services); End-User (Automotive, Construction, Food and Beverages, Oil and Gas, Petrochemicals, Utilities, Mining, Electronics, Others) and Geography.
Energy management systems are getting popularity since they help gain competitive advantage, reduce energy cost, and increase productivity. Every industry, big or small, is operating with the help of energy, so it is essential to install the energy management system. Industrial Energy Management Solution is a complete system that continually monitors energy consumption and offers active real-time control to minimize energy cost and carbon footprint. These systems provide energy consumption analysis, drill down analysis, debottlenecking, what-if analysis, and modeling & simulation, which help to enhance both the energy demand and energy supply aspects of the plant operations. Thus, energy management systems support the end-users to make quick and effective strategic decisions.
The increase in the acceptance of energy management systems for the industrial development across different verticals of the market is fueling the growth of the industrial energy management systems market. In addition, as the energy management standards and environmental regulations are becoming more stringent, the various industries are putting significant efforts to make their manufacturing processes more efficient.
The global Industrial energy management systems market is segmented on the basis of technology, hardware, services, and end-user. Based on technology, the market is segmented as Supervisory Control and Data Acquisition (SCADA), Programmable Logic Controls (PLC), Distributed Control System (DCS), Meter Data Management (MDM), Energy Management Information System (EMIS), and Others. Further, based on hardware, the market is divided into Communication Network Hardware and Industrial Hardware. Furthermore, on basis of services, market is segmented as System Integrators, Consulting, and Maintenance & Support Services. Based on end-user, the Industrial energy management systems market is segmented as Automotive, Construction, Food & Beverages, Oil & Gas, Petrochemicals, Utilities, Mining, Electronics, and Others.
In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last three years, key development in the past five years.
ABB, CISCO System, Eaton Corporation, Emerson Electric Co., General Electric Company, Honeywell International, Rockwell Automation, Schneider Electric SE, Siemens AG, Yokogawa Electric Corporation.
While this robust growth is attributed to the strong presence of oil andgas industries in this region, it is most likely to continue pushing the demand for industrial energy management systems across MEA. Moreover, vendors in this regional market are focusing on adoption of advanced technologies to offer visibility to data related to environment and energy management.
The Industrial Energy Management System Market has been applied to the process and manufacturing sector since past few years. But its proper implementation was seen after the introduction of ISO 50001:2011 Energy Management System guideline in 2011. Many other standards were also introduced in past decade for the same purpose and many of the standards were implemented as the regional standards by the local governments.