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America Energy Management System Market Size Projected to Grow Exponentially by 2026

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According to the Graphical Research new growth forecast report titled “America Energy Management System Market Size By Service (IEMS, BEMS, HEMS), By Component (Metering and Field Equipment, Hardware, Software, Networking Device, Control Systems, Sensors), By End-User (Power and Energy, IT, Manufacturing, Enterprise, Healthcare) Industry Analysis Report, Country Outlook (U.S., Canada, Brazil, Argentina), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026”, Size Projected to Grow Exponentially by 2026.

America Energy Management System Market share will experience a significant growth owing to rising industry preference toward electricity conservation and sustainable development. Flourishing population count followed by heightened electricity consumption has forced the governments to focus on energy conservation thereby encouraging the product demand. Introduction of stricter emission reduction norms coupled with availability of incentives on successful installation of electricity-efficient system is anticipated to drive the business growth.

Home Energy Management System (HEMS) market is projected to grow on account of increasing number of single families driven by high migration rate and surging electricity demand. Rising funding pertaining to wireless technology thereby facilitating end user to remotely monitor their power consumption will strengthen the business landscape. Further, growing necessity to implement newer policies aimed at limiting electricity usage along with the unit’s ability to offer steady power supply is anticipated to drive the system deployment.

Increasing demand for automation of building establishments owing to occupant comfort, efficient operations and declining O&M costs is set to positively impact the adoption of hardware components. These units gather information locally and pass the suitable data to the dashboard thus providing the end user to evaluate live data. Furthermore, the ability to act as an interface between the supplier and end user thereby facilitating supplier’s signal with a demand response will enhance the industry trends.

IT application is set to grow within the forecasted timeframe on account of prevailing industrial revolution 4.0 which provides intelligent networking of machines and processes by utilizing Information and Communication Technology (ICT). The introduction of newer technologies has made collection and analysis of raw data possible thereby enabling faster, efficient and flexible processes. Further, availability of economical product pricing driven by highly competitive scenario across the EMS market will stimulate the product installation.

In Latin America, Brazil market is anticipated to experience substantial gains through 2026 in consequence of growing consumer awareness toward electricity conservation. Increasing investments focused at driving digitalization and promoting R&D activities across the nation’s power sector is set to enhance the industry outlook. Further, easy and fast setup, user- friendly interface and interoperability are few prominent parameters driving the market growth.

Eminent industry players functioning across America energy management system market are focused at forming strategic alliance comprising joint venture and M&A in order to benefit from economies of scale with an overarching aim of sustaining their market share. Key manufacturers include Siemens, ABB, Schneider Electric, Emerson Electric, Honeywell, Telkonet, Rockwell Automation, GridPoint, Optimum Energy and Eaton amongst others.