Dublin, June 16, 2022 (GLOBE NEWSWIRE) -- The "Industrial Energy Management Systems (IEMS) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Industrial Energy Management Systems (IEMS) Market to Reach US$34.7 Billion by the Year 2027
The global market for Industrial Energy Management Systems (IEMS) estimated at US$21.3 Billion in the year 2020, is projected to reach a revised size of US$34.7 Billion by 2027, growing at a CAGR of 7.2% over the analysis period 2020-2027.
Hardware, one of the segments analyzed in the report, is projected to grow at a 6.8% CAGR to reach US$17.3 Billion by the end of the analysis period.
After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 7.5% CAGR for the next 7-year period. This segment currently accounts for a 33.5% share of the global Industrial Energy Management Systems (IEMS) market.
The U.S. Accounts for Over 29.1% of Global Market Size in 2020, While China is Forecast to Grow at a 8.5% CAGR for the Period of 2020-2027
The Industrial Energy Management Systems (IEMS) market in the U.S. is estimated at US$6.2 Billion in the year 2020. The country currently accounts for a 29.1% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$2.7 Billion in the year 2027 trailing a CAGR of 8.5% through 2027
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.3% and 6.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 6.9% CAGR while Rest of European market (as defined in the study) will reach US$2.7 Billion by the year 2027.
Services Segment Corners a 15.3% Share in 2020
In the global Services segment, USA, Canada, Japan, China and Europe will drive the 7.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.5 Billion in the year 2020 will reach a projected size of US$4.2 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$3.6 Billion by the year 2027, while Latin America will expand at a 8.7% CAGR through the analysis period.
MARKET TRENDS & DRIVERS
- COVID-19 Creates Short-Term Double Trouble for Environmental Technologies
- A Crashing Economy Creates Financial Chaos that Challenges Continued Investments in Energy Efficiency Technologies
- Widening Government Fiscal Deficits & Growing Business Losses Throws IEMS On the Chopping Block
- Virus Induced Recession Impacts Businesses Across Sectors & Complicates Environmental Compliance by Creating Operational & Financial Challenges
- Liquidity Crisis Triggered by the Virus Led Recession Erodes Investments in Climate Change Strategies: Global Investments in Clean Energy & Efficiency Technologies
- Staying On Course With Environmental Goals in the Time of COVID-19 Remains a Challenge: Job Losses in Clean Energy Sector in the United States
- Innovation in Clean Technologies Heavily Correlates With Oil Prices Explaining Why R&D Declines When Oil Prices Drop
- In a Biggest Setback Ever for the Environment, Misguided Government COVID-19 Response of Bailing Out Polluting Industries & Rolling Back Emission Standards Threatens to Worsen Climate Change Risks
- Different Forms of Support Offered by Major Economies to Polluting Sectors
- COVID-19 Induced Reduction in Emissions as a Result of Lockdowns & Lower Industrial Output Is Just a Temporary Distraction, Masking the Brewing of a More Polluted Future
- Lower CO2 Emissions in 2020 is No Reason to Cheer
- Slumping GDP & Manufacturing PMI Sends Industrial Output Crashing & Emissions Plummeting
- Falling Demand for Electronics Ravages the Electronics End-Use Industry
- Supply Chain Disruptions Impact a Large Number of Electronic Manufacturers
- Rapidly Eroding Consumer Confidence Thwarts Hopes for a Quick Recovery
- Shrinking Disposable Incomes Impact Consumer Demand for Electronics & Prospects for IEMS in this Sector
- Plummeting Automobile Sales & Production Plant Closures Overshadows IEMS in Auto Plants
- Caught in the COVID-19 Storm Troubled & Distressed Oil & Gas Companies Slash CAPEX, Disrupting Opportunities for IEMS
- CAPEX Cuts in the O&G Industry Puts Investments on IEMS Into the Back Burner
- A Slumping Manufacturing Industry Creates a Bleak Outlook for IEMS
- Manufacturing Industry Bites the Dust Severing Business as Usual Opportunities for IEMS in this Sector
- Despite Moves to Reopen the Economy, Battered Business Confidence Plummets to New Depths: Business Confidence Index (BCI) Points
- Inevitable Rise in Energy Demand Post COVID-19 to Bring Energy Efficiency Back Into the Spotlight
- Primary Energy Demand Slumps in the Year 2020 as COVID-19 Wreaks Havoc On Business-As-Usual Business Environment
- Unforgivable Levels of Energy Wastes Brings Power Monitoring Into the Spotlight as the First Step Towards Achieving Energy Efficiency
- The World is Wasting More Energy than It Uses Even as Global Leaders Strategize to Reduce Carbon Emissions & Climate Change
- Tighter & Stricter Regulations Post COVID-19 Will Be Essential to Curb Carbon Emissions, Providing Regulatory Driven Stability to IEMS Deployments
- Energy Intensive Industries Are Important Consumer Clusters for IEMS
- The Journey Towards a Sustainable Future Begins With Automation in Energy Intensive Industries
- COVID-19 Creates a Tipping Point for Automation Technologies
- The COVID-19 Pandemic Is Reinforcing the Trend Towards Automation
- COVID-19 Drives Businesses to Identify Processes That Can Benefit from Automation Which Until Now Were Undiscovered
- Automation in the Absence of IEMS. Can It Guarantee Energy Efficiency?
- SCADA: A Key IEMS Technology Poised for Robust Long-Term Growth
- The Time is Ripe for Leveraging IoT for Smart Energy Management
- Ability of IoT Powered Energy Management Systems to Predict Consumption & Spending Spurs Interest in the Technology
- Despite Technology Innovations & Falling Costs of Renewables, Energy Prices Continues to Rise, Strengthening the Business Case for IEMS
- Rising Electricity Prices Amid a Tough Economic & Business Climate Step Up the Pressure to Achieve Energy Savings Via Efficiency Improvements
- Post COVID-19 Emphasis on Building Smart Cities, Will Widen the Role of Energy Management Systems in Smart Grids
- COVID-19 Highlights the Value of Smart Cities During Times of Crisis
- Utilities to Increasingly Deploy Smart Electricity Meters
- Here's How Role of IEMS Becomes Gets Bigger
- Intelligent Data Feedback Offered by Smart Meters to Remote Centers to Benefit Deployment of More Proactive Energy Management Systems
- COVID-19 Induced Digital Transformation to Drive the Popularity of Cloud-Based Energy Management Systems (IEMaaS)
- At a Time When Automation & Remote Enablement Are Becoming Vital Platforms for Supporting a Digital Workforce, Cloud Based Energy Management is Growing Strong
- Standardized & Certified IEMS Key to Realizing Multifarious Energy-related & Non-energy Benefits
FOCUS ON SELECT PLAYERS (Total 73 Featured)
- ABB Ltd.
- AECOM
- ARCHIBUS, Inc.
- Autodesk, Inc.
- C3 Energy
- Cascade Energy Inc.
- Cypress Envirosystems
- Eaton Corporation Plc
- Emerson Electric Company
- Enel X S.r.l
- ENERGYai
- General Electric Company
- GridPoint, Inc.
- Honeywell International Inc.
- IBM Corporation
- Lightapp Technologies
- Mitsubishi Electric Corporation
- Opto22
- Rockwell Automation, Inc.
- SAP SE
- Schneider Electric SE
- Setpoint Systems Corporation
- Siemens AG
- Trane Inc.
For more information about this report visit https://www.researchandmarkets.com/r/rw44xv
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