Power Management System How do they work?

The growing demand for energy efficiency, increasing adoption of IoT and cloud-based platforms, and rising installation of renewables in the industry are major driving factors for the power management system market growth. Further, the increasing industrial sector in economies such as India, China, Mexico, Argentina, Brazil, and the growth in the oil & gas sector in North America region is expected to influence the demand for power monitoring and control modules, which stimulate the growth of the power management system market.

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The power management system minimizes production interruption by providing a continuous power supply and increasing its reliability. Increasing infrastructural development, growing adoption of monitoring and control units in power management, retrofitting & refurbishment of the prevailing electric network are the major factors that boost the power management system market growth. Moreover, inclination towards the installation of smart control and grid infrastructure, strict government norms, and rapid shifting towards the adoption of safe & secure electrical network, fuels the power management system market growth.

Some of the key players influencing the market are

ABB, Eaton Corporation plc, Emerson Electric Co., Fuji Electric Co., Ltd., General Electric Company, Mitsubishi Electric Corporation, Operation Technology, Inc. (ETAP), Rockwell Automation, Inc., Schneider Electric, Siemens AG