Energy Management Market to Reach $72.73 Billion by 2024
Cloud computing and big data are now changing the world of technology
SAN FRANCISCO — The global energy management system (EMS) market is forecast to reach $72.73 billion by 2024, according to a new report published by Grand View Research Inc.
Industries have primarily been using conventional energy monitoring systems, says the report. However, cloud computing and big data are now changing the world of technology with their economic applications and better results. These technologies provide real-time data analytics that are expected to positively influence the growth of the energy management market. Technological advancement regarding the integration of cloud-based software platforms with building energy management system (BEMS) modules has enabled companies to control and monitor energy utilization in a sustainable manner.