Research Nester released a report titled “Energy Management Software Market: Global Demand Analysis & Opportunity Outlook 2029″ which delivers a detailed overview of the global energy management software market in terms of market segmentation by software, solution, and end-use application.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with a detailed discussion on current and future market trends that are associated with the growth of the market.
The energy management software market is anticipated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029, on account of the growing adoption of IoT and cloud-based system and rising investment in renewable industry.
The market is segmented by end-use applications into power & utilities, public sectors, office & commercial building, industrial manufacturing, automotive, oil & gas, and others. Among these segments, the power & utilities segment is anticipated to hold the largest share by the end of 2021 in the energy management software market as a result of the largest market share owing to a large number of applications in the power industry.
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On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which the energy management software market in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period. Currently, the market in North America holds the largest share. This can be attributed to adoption of software and systems that reduce energy consumption, improve the utilization of the system, increase reliability, increase electrical system performance, and optimize energy usage to reduce cost.
Rising Demand for Energy Efficiency to Drive Market Growth
Increasing global demand for energy, due to growing population and economic growth is estimated to boost the market growth. Energy management software system can reduce energy consumption, improve the utilization of the system, predict electrical system performance, increase reliability, and optimize energy usage to reduce cost. This is further anticipated to boost the market growth.
This report also provides the existing competitive scenario of some of the key players of the global energy management software market which includes company profiling of General Electric (NYSE: GE), Honeywell International Inc. (NYSE: HON), IBM (NYSE: IBM), Cisco Systems, Inc. (NASDAQ: CSCO), SAP SE (ETR: SAP), Schneider Electric (EPA: SU), ICONICS (KLSE: ICONIC) and CA Technologies. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global energy management software market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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