Energy Management Systems Market to Witness Staggering Growth by 2028

The global Energy Management Systems Market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Key factors driving market revenue growth are increasing automation, optimization of energy resources, proactive repair mechanisms, and predictive protocols for disruption. In addition, cost-effective and efficient energy distribution by combining Internet of Things (IoT) energy management solutions and devices is another key factor expected to drive demand for Energy Management Systems, and support market revenue growth.

The Energy Management Systems (IoE) is a technological innovation in the energy industry that integrates IoT (Internet of Things). The Energy Management Systems (IoE) refers to all objects associated with the provision and use of electricity, right from power grid to individual electronic devices. The major goal is to create hardware, software, and middleware to enable seamless, secure connectivity and interoperability between the internet and energy grids.

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Revenue growth of the global Energy Management Systems (IoE) market is significantly driven by rising concerns regarding evaluation of optimal overall health of assets, ranging from turbines to transmission lines, by sensors employed to calculate temperature, tear, vibration, wear, and other data. Changes in sensor data can communicate information from distant equipment to detect an oncoming failure, thereby preventing damage and downtime and giving the system far greater flexibility. To avoid instability, the grid can use Energy Management Systems (IoE) to ensure that connected power generation stations have met all connection standards, from frequency to voltage regulation, and also has the ability to provide real-time data needed to properly manage congestion on transmission and distribution networks. Energy Management Systems (IoE) enables a smart grid system to gain full control over energy flow and thus significantly reduces energy consumption, which is expected to further boost revenue growth of the global market.

Top 10 Companies Operating in the Global Energy Management Systems Market:

Schneider Electric
Cisco Systems
IBM Corporation
HCL Technologies
Telit Communications PLC
Thales Group
Honeywell International
Rockwell Automation
Intel Corporation
Huawei Technologies
Microsoft Corporation
Ingersoll Rand Plc
NYDRO
Energeia
General Electric Company
Siemens AG
ABB Ltd