London, United Kingdom, September 02, 2016 --(PR.com
)-- Governments’ initiatives for energy infrastructure digitation, rising demand for home and building energy management solutions, enhancing concerns for carbon footprints reduction together with mandatory regulations for energy management, among other factors, are predicted to drive the worldwide energy management system (EMS) market in the next five years. The value of the world’s EMS market is estimated at around USD 32.41 billion in the current year. It is anticipated to enjoy remarkable growth at an 18.8% CAGR from 2016 to 2021, and by 2021 will likely reach USD 76.75 billion.
Presently, the key end-use applications for EMS include telecom, power, IT and energy industries as well as commercial and office buildings and various manufacturing sectors. Manufacturing sectors form the top revenue generating vertical for the world EMS market. Meantime, the commercial and office building sector is predicted to register the highest growth rates through 2021 owing to tax benefits for energy efficiency in this sector, advantages of building automation technology and rising awareness for carbon emissions management.
This year, North America accounts for the biggest share of the overall EMS market. Furthermore, this region is expected to maintain the dominant position in the EMS marketplace through 2021 due to growing spending on energy efficiency programs in the region, favourable regulations and ongoing technological advancements. The APAC EMS market is predicted to witness the most rapidly growth in the next 5 years, driven by rapid smart grid deployments together with rising regional government spending for energy infrastructure digitisation in Japan, China, Australia, New Zealand, India, Singapore and South Korea.
More trustworthy information on the worldwide EMS market can be found at https://marketpublishers.com/report/industry/energy/energy-management-system-ems-market-by-software-utility-industrial.html