Energy Management Systems (EMS) are a popular technology for businesses looking to go green and cut energy costs. An EMS can monitor and conserve energy in a building or organization by collecting and analyzing energy use data and then bases energy-conserving actions on the information obtained.
Business will be adopting this technology at such a rate that the EMS market is expected to grow to $89 billion by 2023. This is due in part to rising awareness among businesses and organizations for the need to cut energy emissions and costs, according to Market Research Future.
Key players in the EMS market include Honeywell, Cisco Systems, IBM and Siemens AG, to name a few.
Industrial entities in emerging economies are widely adopting comprehensive energy management solutions; China, India, Thailand, Indonesia, Brazil, Argentina, Russia, Mexico and South Africa hold significant promise for the global energy management systems market, according to Transparency Market Research’s new study, Energy Management Systems (EMS) Market Forecast 2016-2024. Industries such as iron and steel, which are among the leading consumers of energy in the world, are becoming vital to the global energy management systems market. Energy counts as one of the leading expenditures for industrial entities, and can thus lead to significant savings when energy management systems are put into place.