Dublin, Sept. 20, 2021 (GLOBE NEWSWIRE) -- The "Europe Advanced Energy Management System Market, By Component (Hardware, Software and Service), By End User Vertical (Power and Energy (P&E), Oil & Gas, Telecom & IT and Others), By Solution, By Country, By Company, Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
Europe advanced energy management system market is projected to grow at double digit CAGR during the forecast period owing to increasing electricity consumption and growing demand for energy efficiency in end use industries.
Furthermore, need for energy management during high electricity demand and shift from conventional fossil fuels to alternate sources is expected to drive the demand for advanced energy management systems in Europe.
Advanced energy management system is a technology, involving conversion of electricity to energy and vice versa based on the demand for electricity. The technology is gaining prominence as it offers cost effective and reliable power for end user industries such as power & energy, IT & telecom and manufacturing, among others.
Additionally, growing need for reducing GHG emissions and reliance on fossil fuels is expected to positively impact the growth of the market in the coming years. Even Paris Agreement or COP 21 was also signed in 2016 for reducing the GHG emission and combat climate change by 2100.
Europe advanced energy management system market is segmented based on component, end user vertical, solution, country, and company. In terms of software which is a sub-segment of component, utility energy management system accounted for the lion's share in 2020 owing to government initiatives for the introduction of smart grid and declining prices of IoT components.
Leading players in the region are IBM, Rockwell Automation, Schneider Electric, Honeywell, General Electric, Cisco, Eaton Corporation, SAP, Elster Group, Siemens, CA Technologies and Tendril.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Europe Advanced Energy Management System Market, By Component:
Utility Energy Management System
Industrial Energy Management System
Enterprise Carbon and Energy Management
Residential Energy Management System
Monitoring & Control
Implementation & Integration
Consulting & Training
Europe Advanced Energy Management System Market, By End User Vertical:
Power and Energy (P&E)
Oil & Gas
Telecom and IT
Office and Commercial Building
Europe Advanced Energy Management System Market, By Solution:
Demand Response Management
Utility Billing and Customer Information System
Europe Advanced Energy Management System Market, By Country:
For more information about this report visit https://www.researchandmarkets.com/r/d4eqp1
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