In its report released earlier this month, Edition Truth was painted quite the rosy picture of the future of energy management systems. “The global energy management system market is likely to exhibit steady growth in the coming years thanks to the rising awareness in the industrial sector about its contribution to global pollution levels” was the ultimate takeaway in its findings.
As cited in a previous article, Transparency Market Research estimates that the market has the potential to reach a value of upwards to $36 billion by the year 2024. Developed regions such as Europe and North America will continue to lead the way as recent government regulations, policies, and other incentives have led to an increase in EMS implementation over recent years. Recent political events within the United States may add some level of confusion as to exactly what role it plans to play as far as the future of renewables, but all signs coming out of Europe show an united region that has put forward a set of energy consumption and renewables goals which need to be achieved within a stipulated time
It should also be noted that emerging regions such as China, India, Brazil, an South Africa are expected to see a significant increase as well. These regions are continuing to further explore and adopt EMS that can be easily integrated with their establishment of new energy sources and power generation points to improve the overall production and consumption of energy. Considering the value that heavy energy consuming industries such as iron and steel play within these regions, the onus to reduce operational expenses and be as energy efficient as possible is vital.
No one reason is the sole driving factor of why the future of energy management systems looks this promising, but the combination of government, human awareness, environmental impact, and significant financial opportunities, appear to be quite the intoxicating cocktail.