Energy management systems (EMS) comprise both hardware and software control systems that are developed to manage and monitor energy usage and consumption in buildings. They aim to make the very best use of the total energy consumption process in buildings, lessen utility costs, and enhance utilization of electrical system. Energy management systems comprise sensors and various other automation systems to analyze and gather vital data on processes related to security systems, lighting, fire, and power. In the last few years, implementations of these advanced systems have gained popularity amongst the facility managers. It allowed them make effective strategic management decisions to better the bottom-line of organizations. The need for intelligent energy management practices is steering the adoption of energy management systems, thereby boosting global energy management systems market.
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The following factors are expected to accelerate the growth of global energy management systems market worldwide:
• In the last few years, we have seen increased integration of internet of things technology with energy management systems to make building smarter. Internet of things technology provides facility managers with real-time analytics and data and assists them in taking up predictive and preventive maintenance measures. The integration of internet of things technology with energy management systems is gaining popularity in both developed and developing countries. Increased adoption of IoT is likely to lead to growth of global energy management systems market.
• One of the best ways to adopt Internet of things technology in energy management systems is to start with integrating all lighting systems. The combination will offer utility companies improved visibility and better control of operations of the energy transmission networks. Internet of things technology is likely to stay a key trend in the building asset monitoring technologies in the forthcoming years. In all likelihood, internet of things is likely to keep on improving the capabilities of energy management systems and contribute towards growth of global energy management systems market.
• The increasing adoption of energy management systems is dependent and mainly encouraged by rigorous government regulations. These regulations encourage conservation of energy together with market awareness of the end-users about the importance of energy conservation.
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Some of the key vendors in the global energy management systems market are Eaton Corporation Plc, General Electric Company, CA Technologies, Schneider Electric SA, C3 Energy, and Cisco Systems.