Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by Infinium Global Research on the energy management system market provides an in-depth analysis of segments and sub-segments in the BRICS as well as regional energy management system market. The study also highlights the impact of drivers, restraints, and macro indicators on the BRICS and regional energy management system market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of BRICS energy management system market. According to the report, the BRICS energy management system market is projected to grow at a healthy CAGR over the forecast period of 2021-2027.
Rapid urbanization, openness, and growth in the human development index are some of the leading factors of energy consumption in BRICS economies. BRICS countries are under increasing pressure to limit high energy consumption triggered by outsourcing from developed nations. An energy management system allows users to proficiently monitor their energy requirements and to get an individual appliance’s electricity consumption pattern and power consumption information.
The increasing use of smart grids and smart meters is driving the BRICS energy management systems market growth. The governments across the BRICS countries are focusing on the modernization of energy grids by adopting smart grid solutions with the increase in energy demand and aging electricity infrastructure. Energy management systems help to gain competitive advantage as well as increases productivity. Energy management software control system is designed to reduce energy consumption, improve the utilization of the system, increase reliability, and predict electrical system performance as well as optimize energy usage to reduce cost. The growing awareness of energy management in BRICS countries provides lucrative growth opportunities to the energy management systems market. On the other hand, the high cost of implementation of energy management systems technology would impede the growth of the energy management systems market. The virus that causes coronavirus disease introduced many changes in energy consumption. While the lockdown measures imposed on millions of people in BRICS countries have brought business as usual to a standstill, the associated estimated decline in global energy demand means that carbon dioxide emissions decreased. In BRICS countries, where offices, factories, bars, restaurants, and theaters remain closed, energy consumption has fallen which is directly impacted on the BRICS energy management systems market.
Geographically, China holds the largest market share in the BRICS energy management systems market due to the evolution of national policies for power development, including supply-side management (SSM), demand-side management (DSM), and environmental conservation management (ECM). India also holds a significant market share owing to the presence of energy management solutions providers with the most comprehensive network management solution, with features such as monitoring, analysis, control, optimization, planning, and training tools.
The report on BRICS energy management system market covers segments such as device, software, solution, and application. On the basis of device, the sub-markets include load control switches, in-house display, smart plugs, and smart thermostats. On the basis of software, the sub-markets include enterprise carbon and energy management, utility energy management system, residential energy management system, and others. On the basis of solution, the sub-markets include demand response management, utility billing and customer information system, and carbon management system. On the basis of application, the sub-markets include home energy management systems, building energy management systems, and industrial energy management systems.
The report provides profiles of the companies in the market such as Cisco Systems, Inc., General Electric Company, Siemens AG, Honeywell International Inc., International Business Machine Corporation, Schneider Electric SE, Emerson Electric Company, and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of energy management system market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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