Energy Management Systems Market to Reach $58.59 Billion by 2022
Technological advancements coupled with rising commercialization of innovative products expected to fuel growth
SAN FRANCISCO — The global energy management systems (EMS) market was valued at $20.49 billion in 2014, and is forecast to grow at a compound annual growth rate (CAGR) exceeding 14 percent from 2015 to 2022, reaching $58.59 billion by 2022, according to a report from Grand View Research.
Technological advancements coupled with rising commercialization of innovative products are expected to fuel market growth. Increasing requirements for reliable and consistent information technology (IT) platforms to monitor, control, and optimize available energy sources are projected to boost growth.