Energy Management Systems Market to Grow at 20 Percent CAGR to 2020
Latest technology developments are allowing greater insight into energy procurement and energy usage
DUBLIN — The global energy management system market is forecast to grow at a compound annual growth rate (CAGR) of around 20 percent from 2015 to 2020 due to highly volatile electricity prices, government regulations, and growing awareness among consumers, according to a new report from Research and Markets.
The latest technology developments are allowing greater insight into energy procurement and energy usage. With the rising power consumption demand along with a growing demand and supply gap, energy management systems are gaining popularity by identifying energy-saving opportunities. These systems realize long-term benefits by continually managing energy performance. With the continuous increase in power costs, there is a rise in demand for a more efficient electricity distribution and management platform.