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Energy Management Systems Market: Tech Drivers & Applications

EMS allows facilities to control their energy consumption patterns, putting managers in charge of measuring, monitoring, and regulating these systems. Read More.<br>

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Energy Management Systems Market: Tech Drivers & Applications

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  1. Energy Management Systems Market: Tech Drivers & Applications Thegrowingdemandforsustainableandgreenenergyresourcemanagement,alongwithanincreaseingovernmentmandatesworldwide,hasinfluencedthedemandforEMS.Theglobalenergy management systems marketisexpectedtoprogressatagrowthrateof15.91%duringtheforecastperiod2022-2028. EMSallowsfacilitiestocontroltheirenergyconsumptionpatterns,puttingmanagersinchargeofmeasuring,monitoring,andregulatingthesesystems.Withproperinstallation,maintenance,andmonitoring,thesesystemscansave10-30%oftheirenergy.Timers,occupancysensors,programmablethermostats,photocells,andPLCsaresomeofthemostprevalentenergymanagementequipment. ReadMore: https://blogs.tritonmarketresearch.com/energy-management-systems-market-tech-drivers-and-applications

  2. GrowthTrendsandKeyChallenges • Withthegrowingworldpopulationandriseinlivingstandards,thereisaneedformajoradvancesinenergysupplyandefficiencywhileovercomingtherisksrelatingtoclimatechange.Asorganizationsfocusonenergyconservation,theneedforenergymanagementsystemsincreases.Thefollowingfactorsareresponsibleforthemarket’sadvancement: • Energyissuessuchasgreenhousegasemissions,accesstoelectricity,carbonfootprintsandothersarethemostimportantchallengesconfrontingtheworldtoday.In2021,IEApredictedthattheglobalenergydemandwouldincreaseby4.6%,witha4.5%increaseinelectricitydemand.Theglobalenergy-relatedcarbondioxideemissionsrose6%in2021to • 36.3billiontons. • Theadoptionofsmartgridsandsmartmetershasbecomeatrend.UnitedStatesEPA’ssmartgrowthprogramhelpscommunitiestoimprovetheirdevelopmentpracticesandencouragestrategiestoprotecttheenvironment.Increasedsmartgridserviceusage,industrialcompetition,anddemandfromemergingeconomiesaresomeoftheprimaryreasonsformarketgrowth. • Governmentsworldwidehaveurgedorganizationsandinstitutionstoimplementenergy-savingmeasuresthroughpoliciesandvariousincentives,helpingthestudiedmarkettoflourish.AsperIEA,in2021,thegovernmentpolicieswereexpectedtoincreasetheinvestmentsinenergyefficiencyby10%toreachnearly$300billion. • TheEMStechnologyisrelatedtobuildingmanagementsystems,whichinvolvetheuseofcomputersystems.Ithelpstocontrolandmonitorfacilitiesinbuildingsthatconsumesignificantamountsofenergy,suchasHVACsystemsandlightinginstallations.Thescopeofimplementationcanrangefromasinglebuildingtouniversitycampuses,officebuildings,orfactories. • However,theenergymanagementsystemmarketmayfacechallengesduetoashortageofskilledprofessionals,alackofawarenessamongstakeholdersandnon-standardizedguidelines,whichcanstiflemarketgrowth.Additionally,thehighinitialcostisthemajorchallengefacedbythemarket.However,thereturnoninvestmentcanbeachievedinlesstimewithproperawarenessandusage,whichwillhinderthemarket’sprospects.

  3. TheApplicationofSCADAinElectricPowerGrids • SCADA,orSupervisoryControlandDataAcquisition,isasoftwareapplicationprogramthatobtainsreal-timeinformationfromremotelocationstocontroloperationalconditionsandequipment. • SCADAinelectricpowergridsresultsinimprovedsecurity,optimalenergyconsumption,reducedtransmissionloss.TheuseofSCADAinvariousmarketsegmentspavesthewayforthemarket’sflourishment,suchas: • Intheend-usersegment,thehealthcaresectorisgrowingataCAGRof16.28%.TheincreasinginvestmentsinthesectorareduetocommercializingofinnovativeproductslikeSCADAandadvancedmonitoringsensors.TheseareusedinEMSsolutionsforbettermaintenanceoffacilities,suchassensorsandelectrodesfordiagnosis,toprovidequalitycareandtreatmenttopatients. • Softwareisthefastest-growingcomponentintermsofrevenue.ThemonitorandcontrolfunctionsinEMSsoftwareareknownasSCADA,accustomedtoseveralonlineapplications.Thesoftwareprovidesutilitybilltracking,realtimemeteringandlightingcontrolsystems,carbonreporting,buildingsimulationandmodelinganddemandresponse. • DevelopmentsbyCompetitors • Abuyercanchoosefromseveralplayersinthemarket,suchasIBMCorporation,GeneralElectricCompany,HoneywellInternationalInc,SchneiderElectric,etc.Theseorganizationshavebeenattheforefrontofimplementingenergymanagementsystems,withrecentdevelopmentsincluding: • InAugust2021,Mitsubishiacquiredsmartergridsolutionstostrengthenbothcompanies’ distributedenergyresourcesmanagementsolutions.ItwillexpandthereachoftheenergymanagemententerprisesoftwareofSmarterGridSolutionstodistributedenergyresourcecustomersaroundtheworld. • InFebruary2022,ActisTechnologieslaunchedIntegratedEMStosaveenergycosts.Thisincludeslightingcontrol,greenbuildingsystemsandLEDlightingfixtures. • JohnsonControlsandPelionpartneredinAugust2021.TheformerisexpectedtoleveragePelion’sconnecteddeviceplatformfortheIoTdevicemanagementservices,simplifyingthemonitoringofedgedevices. FAQ

  4. Q1)Whatisthegrowthoftheenergymanagementsystemsmarketintermsofrevenue?Q1)Whatisthegrowthoftheenergymanagementsystemsmarketintermsofrevenue? Theglobalenergymanagementsystemmarketwasvaluedat$8777.66millionin2021andisexpectedtoreach$24453.90millionby2028. Q2)Whataresegmentscoveredintheenergymanagementsystemsmarket? Type,componentsandend-usersarethemainsegmentscoveredintheenergymanagementsystemsmarket.

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