DALLAS — The global industrial energy management system (IEMS) market is forecast to grow from $12.6 billion in 2014 to $24.4 billion by 2019, at a compound annual growth rate (CAGR) of 14.2 percent from 2014 to 2019, according to a new market research report published by MarketsandMarkets.
MarketsandMarkets has broadly segmented the IEMS market by technology solutions such as supervisory control and data acquisition (SCADA), programmable logic controls (PLC), distributed control system (DCS), energy platform, energy analytics, meter data management (MDM), energy management information system (EMIS), peak load control system (PLCS), and demand response management solution (DRMS). The IEMS market is also segmented on the basis of industry as well as by global region: North America; Europe; Asia Pacific; Middle East and Africa; and Latin America.
North America is expected to have the highest market share in terms of revenue for the global IEMS market. Asia Pacific is expected to show the highest CAGR for the forecast period due to technological advancement and the leading manufacturing players concentrating on the region for expansion. The Middle East and Africa region and the Latin America region are entering a growth phase and thus could be the best for investment for the next five years.
The report also highlights the competitive landscape of the IEMS market, providing a comparative analysis of the technological and marketing strategies that the key players are adopting in order to gain an edge over their competitors. According to the report, the key strategies followed by most companies in the IEMS market are innovative technologies, customized solutions, and acquiring relatively small expert players.
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Publication date: 2/9/2015