Summary

Global Industrial Energy Management Software Market is expected to grow at a significant rate of around 14% during the forecast period. The Industrial Energy Management Software (IEMS) market refers to the software solutions designed to help businesses manage their energy consumption, optimize their energy usage, and reduce their energy costs. IEMS software provides a platform for businesses to monitor and analyze their energy consumption, identify inefficiencies, and implement energy-saving measures. In recent times, the industrial energy management software market has witnessed significant demand driven by increasing demand for energy-efficient solutions, rising energy costs, and government regulations aimed at reducing carbon emissions. In addition, the rise of smart manufacturing and the Internet of Things (IoT) has also contributed to the growth of the market, as companies seek to leverage real-time data to optimize their energy usage.

Cisco Systems, Inc., General Electric, Siemens, Eaton, Schindler, Emerson Electric Co., Honeywell International Inc., Rockwell Automation, Rockwell Automation, and ABB are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst hardware, industrial hardware category to witness significant market growth during the forecast period”
Based on the hardware, the market is bifurcated into communication network hardware and industrial hardware. The industrial hardware segment is expected to witness a significant CAGR during the forecast period. Industrial hardware refers to the physical equipment and devices used in industrial settings for various purposes such as manufacturing, processing, and automation. This includes a wide range of machinery, tools, and instruments designed for specific tasks. Additionally, the increasing industrialization around the world will propel the demand for testing and measuring, material handling, and others for optimum efficiency and are expected to support the market growth for the industrial hardware segment.

“Amongst end-users, the oil & gas to hold a significant CAGR in the market in 2021”
Based on end-users, the market is segmented into automotive, food & beverage, petrochemical, electronics, oil & gas, metal and mining, and others. The oil & gas segment is expected to register a significant CAGR during the forecast period owing to the increasing demand for fossil fuels around the world. The increasing demand for fossil fuels requires industries to optimize their energy use and operational activities along with environmental sustainability. Also, industrial energy management software is used for predictive maintenance, and energy efficiency analysis as well as for real-time performance monitoring and is expected to support the demand for industrial energy management software.

“North America to hold a significant share in the market.”
In 2021, North America held a significant share of the global industrial energy management software market. This is mainly due to a large number of industrial facilities in the country and the increasing demand for energy-efficient solutions. Also, the increasing demand for cloud-based energy systems that helps industries in a comprehensive view of their energy usage, allowing them to identify opportunities for energy savings and improve their overall energy efficiency. These systems typically provide detailed analytics and reporting, allowing users to track energy usage over time and identify trends and anomalies. As industrial energy management software helps companies monitor and optimize their energy usage, reduce costs, and improve their overall energy efficiency along with the integration with other systems, such as building management systems, to provide a comprehensive view of energy usage and performance and is expected to support market growth in the region.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global industrial energy management software market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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