Global Energy Management System Market: Key Highlights
Global Energy Management System Market: Key Market Dynamics
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Global Energy Management System Market: Regional Overview
The Energy Management System market in the North American region is projected to witness high demand owing to the well established infrastructure network and adoption of energy management systems in various industrial sectors. According to USAFacts, in 2019 the federal government of United States spent USD 29 billion on infrastructure and transferred additional USD 67 billion for infrastructure development spending to states. However, increasing infrastructure activities in the regions is expected to boost the product market growth.
Europe is expected to witness steady growth in energy management system during the forecasted period due to expected to witness decent growth owing to favorable government projects such as Neighborhood Oriented Brokerage and Electricity and monitoring systems. Additionally, high demand to curtail power losses in countries such as France, Germany, and the U.K. is further expected to propel the market growth in the region.
Global Energy Management System Market: Key Players Overview
ABB is one of the leading global engineering company and has operates through business like Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation. The company holds approximately 33,500 patent applications and registrations. In November 6, ABB partnered with Verdigris Technologies and has developed artificial intelligence (AI) to help commercial and industrial buildings revolutionize their energy management and tackle rising electricity tariffs. The company has added two new AI applications namely Energy Forecasting and Intelligent Alerts.
Honeywell International Inc. is a US-based company engaged in the invention and commercialization of technologies for overcoming the challenges across energy, safety, security, productivity, and global urbanization. It operates through major business segments, i.e., aerospace, Honeywell building technologies, performance materials and technologies, and safety and productivity solutions.
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