Global Power Management System (PMS) Market Expected to Reach XX Million by 2025
According to a new report published by Reports Monitor titled, “Power Management System market by type, by module, and by end user: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the power management system market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. Asia-Pacific dominates the power management system market, in terms of value, and is expected to maintain this trend throughout the forecast period.
Energy is very vital for every sector, as a result of which energy management becomes top priority which can be managed with the help of power management system.
This system helps to prevents blackout and disturbance of the operation by automatically start and stop power supply as the load varies.
Factors such as controls energy costs, enhances safety and mitigates both environmental and health impacts simultaneously are some of the important advantages of power management system.
Growing installation of renewable energy source, increasing adaptation of cloud based platforms, rising demand of energy efficiency in manufacturing sector are fuels the power management system market.
Rising adaptation of Iot and cloud based solution and increasing demand of energy efficiency in manufacturing sector result in large number of installation.
• Power monitoring hold highest share in the market as it helps in controlling vital parameters such as energy demand, voltage, frequency and current controls.
• Marine segment is anticipated to contribute higher share in the market as it helps in optimizing load distribution and switching operations.
• Hardware power management system accounted for higher market share.
• Asia-Pacific is dominates the market owing growing manufacturing sector along with mining industry.
The major companies profiled in the report include: ABB, E.ON UK plc., Eaton, Emerson, Fuji Electric, GE, Honeywell, L&T, Mitsubishi Electric, Siemens and Schneider Electric.
Power monitoring segment is accounted for major market share due to advance feature such as controlling and measuring voltage, frequency, energy demand and data analysis. In the segmentation by end user marine dominates the markets. Asia-Pacific is dominating region for power management system market owing growing manufacturing sector and other industries followed by North America region.
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