Energy management systems (EMS) market estimated to grow at a CAGR exceeding 14.0% from 2015 to 2022
The global energy management systems (EMS) industry was valued at USD 20.49 billion in 2014. Technological advancements coupled with rising commercialization of innovative products are expected to fuel the market growth. Increasing requirements for reliable and consistent information technology (IT) platforms to monitor, control and optimize available energy sources are projected to boost the market growth. The market is anticipated to reach USD 58.59 billion by 2022. Energy management systems are IT-analytical tools used in different integrated platforms and carry out process optimization of individual components to achieve higher efficiency. Industrial energy management systems (IEMS) captured over 60% of the overall revenue, dominating the market in 2014. Infrastructure development across the globe has accounted for the rising demand from the power & electricity industry. This factor, in turn, has increased the popularity of IEMS which enables fuel consumption optimization and operating cost reduction. IEMS is anticipated to grow at an estimated CAGR of over 13% from 2015 to 2022. View summary of this report @ http://www.grandviewresearch.com/industryanalysis/energy-management-systems-market