Covid-19 Outbreak: Industrial Energy Management Systems Market 2020 – Competitive Landscape And Growth Opportunity, Industry Status And Forecast To 2026

Industrial sector across the globe have increased at a significant rate in the couple of years. Growing investments in this sector and inclusion of advanced technologies in it have drastically developed it. Consumption of energy in various industries has also grown due to the increasing manufacturing activities taking place in different industries.

Application of industrial energy management systems is widely seen in aluminum, steel, oil refineries, automotive, paper, chemical, and similar other industries. Moreover, strict regulatory policies for players operating in these industries related to energy management and environmental has further boosted the demand in the industrial energy management systems market.

As the demand for energy increased in industries, various innovative technologies increased assisted in the easy management and control the usage of energy. Use of different technologies is seen in the industrial energy management systems market across the globe. Few of them are peak load control systems (PLCS), meter data management (MDM), programmable logic controls (PLC), energy analytics, energy management information systems, supervisory control and data acquisition (SCADA), and others.

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Employment of these technologies helps the manufacturers to critically track the fluctuation of energy consumption. It also helps in strategically devising the consumption of energy. Apart from the consumption of energy while manufacturing, consumption of energy in building operations is also covered in industrial energy management system. As technological development has become an integral part these days, more and more manufacturers are ready to adopt energy management solutions in their day-to-day working.

Furthermore, rising consciousness related energy consumption, efficiency, and control of demand the resultant reduction in the costs of operation fueled the demand in this market. In fact, industries that are energy intensive are likely to make high profits by integrating industrial energy consumption systems, as it will help in higher profit generation by eventual reduction in cost in energy. Considering all these factors, the global industrial energy management systems market is expected to grow considerably in the near future.

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Global Industrial Energy Management Systems Market: Overview

The global industrial energy management system market is prophesized to gain rapid momentum in the coming years because of the growing need for energy utilization in industrial management systems. Energy management in industries means planning and managing operations of energy consumption and production units. The main objectives of energy management for industries is cost savings, climate protection, and resource conservation. This is all done while the user is having a permanent access to the energy he needs. Industrial management is closely connected to production management as well as energy management along with prior emphasis on environment protection and conservation.

There are different variations to the global industrial energy management systems market with respect to offering, component, services, type, end-user, and market verticals. On the basis of offering, the market is classified into services, and system. Based on component, the market is divided into software, controller, and sensor. On the basis of services, the segments are consulting and training, maintenance, implementation and integration, and monitoring and control. With respect to type, the market for industrial energy management systems is categorized into industrial energy management systems, building energy management system, and home energy management system. With respect to market vertical, the market is segmented into healthcare, enterprise, manufacturing, telecom and IT, and power and energy. Classification of end user includes commercial and residential group.

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The report presented above is a complete evaluation of the global industrial energy management systems market with major focus on market dynamics. It also includes market drivers, restraints, and trends and opportunities. The above presented report also offers geographical and other segmentation of the market.

Global Industrial Energy Management Systems Market: Trends and Opportunities

The global industrial energy management system market is expected to grow substantially and a number of factors are held responsible for this rapid growth. An important factor propelling the market is the accelerating inclinations towards attaining energy efficiency. Moreover, the rise in adoption of energy management solutions to the industrial development all around different verticals of the market is also adding fuel to the growth of the overall market. Thus, the market is expected to continue gaining more revenue in the future years.

However, the high rate of initial investment cost along with longer time taken for playback may hamper market growth. This may be a loss for both the regional as well as SME manufacturers.

Nevertheless, factors like increase in awareness regarding energy efficiency among all users for residential purposes is also expected to boost the overall market growth. This is further expected to substantially provide an expansion for market players in home based services and solutions, thus, drawing more profit. Furthermore, rise in demand of energy efficient solutions in end use categories like commercial sites, office spaces, and enterprises will also boost market growth. This is being done in order to minimize the operational costs with the help of effective energy consumption in industries by building EMS solutions in future years.

Global Industrial Energy Management Systems Market: Regional Analysis

The global industrial energy management system market is geographically segmented into the regions of Asia Pacific, North America, Middle East and Africa, Europe, and Rest of the World. Europe and North America, together accounted for a prominent market share in the past years. On the other side, the developing economies of Asia Pacific and Latin America is seen as a lucrative opportunity of growth in the years to come owing to rapid urbanization.

Global Industrial Energy Management Systems Market: Companies Mentioned

Important players of the industrial energy management system market are Honeywell International Inc., Delta Electronics, Inc., Yokogawa Electric Corporation, and Delta Electronics, Inc.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

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  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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