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Dublin, July 17, 2015 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/4hqss5/global_energy) has announced the addition of the "Global Energy Management Systems Market 2015-2019" report to their offering.
The global energy management system market to grow at a CAGR of 16.5% over the period 2014-2019.
The report, Global Energy Management System Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Technological advances are improving product quality and leading to more user-friendly designs. These designs do not require any programming experience and require less labor and time to operate, which reduces maintenance and service costs. For instance, Philips' Envision project involves the development of user-friendly Envision software, supported by an Envision app that provides solutions tailored to each customer's requirements. This trend will have a positive influence on overall market growth in the future.
According to the report, demand for electricity has increased steadily worldwide, and global demand for energy is likely to increase by 2030. It has become imperative to reduce energy consumption to counter the rapid depletion of energy sources worldwide. Manufacturing and process industries account for the majority of energy consumption, which is nearly one-third of the total energy consumption globally. Lighting controls and HVAC systems help reduce energy consumption in industries by automating the on-and-off processes of general equipment. They also help monitor and control energy usage from a remote location. Industrial EMS plays a major role in reducing energy consumption in industries.
Further, the report states that heavy initial investments and longer duration to obtain an ROI is a concern for the implementation of this technology.
The global energy management system market can be segmented into five divisions by application:
Other Prominent Vendors
Key Topics Covered:
For more information visit http://www.researchandmarkets.com/research/4hqss5/global_energy
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