Asia-Pacific Energy Management System Market is Expected to reach USD 11.8 Billion, by 2020
The growing emphasis on energy management, optimizing renewable energy sources lowering carbon footprint & greenhouse gas emissions are driving demand for EMS.
PORTLAND, OR, UNITED STATE, November 4, 2022 /EINPresswire.com/ — Allied Market Research published a new report, titled, “Asia-Pacific Energy Management System Market is Expected to reach USD 11.8 Billion, by 2020.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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Growing industrialization and advancements in technologies majorly supplement the growth of energy management systems market in the Asia Pacific region. Korea was the highest revenue generating country in 2014, followed by Japan and China. Energy management system for residential end users would exhibit a high growth rate during the forecast period owing to increase in the per capita disposable income, growing awareness, and stringent environmental regulation policies.
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The Asia Pacific Energy management systems market is segmented into component, type, end user, vertical and country.In the component segment, software accounts for the highest revenue contributing about 36% of the market revenue in 2014. The software segment would dominate the market in the forecast period 2015-2020, owing to its high price and rapid technological changes. However, the controller segment would exhibit a higher CAGR of 23% in the forecast period 2015-2020.
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Power & energy sector accounted for the largest share, contributing about 40% of the overall EMS Asia Pacific market in 2014. However, retail & office sector is expected to witness the highest CAGR 23.3% during the forecast period 2015-2020.The prominent companies profiled in the report include, Azbil Corp., Schneider Electric, Siemens AG, Honeywell International, Inc., Johnson controls, Inc., among others.
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Key Findings of Asia-Pacific Energy Management System Market:
• Korea contributes the largest share in the market owing to the stringent environmental regulation policies, favorable government initiatives and growing industrial & manufacturing sector.
• IEMS accounts for the highest revenue, contributing about 71% of the market revenue in 2014 and would continue to dominate the market.
• Increased adoption in power & energy, manufacturing and telecom & IT sector is likely to supplement the swift growth of Asia Pacific EMS market.
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