Government Initiatives Encouraging Energy Consumption Efficiently
The Global Energy Management Systems industry is anticipated to grow at a CAGR of 15 % during the forecasted period 2017-2022, says RNCOS in its latest report.
The Global Energy Management System industry has witnessed significant growth in recent years due to strict government regulations for a carbon constrained environment and awareness among consumers regarding the benefits of energy savings. The world aiming at becoming an energy efficient environment has led to the introduction of Energy Management System. The growing awareness for climate protection, rising energy prices and the idea of saving costs by saving energy resulted in an impressive growth of 15% over the forecasted period 2017-2022 in the energy management systems market.
According to our latest research report, “Global Energy Management System Outlook 2022”, the growing consciousness for high electricity bills and increasing concentration of greenhouse gases in the atmosphere, has led to the emergence of various companies in the energy management segment, thereby leading to stiff competition and innovative solutions to curb energy consumption. Moreover, embedding the energy management devices with the recent technologies and huge private and public sector investment will lead to a progressive future of the industry.
With the increasing population, disposable income and constantly upgrading living standards, the demand for energy is also increasing at an alarming rate. As countries develop, the energy consumption increases, thereby leading to high electricity bills, increase in greenhouse gas emissions and power outages. Therefore, government is imposing strict regulations and reforms to reduce the energy consumption by efficiently managing the energy usage, thereby leading to a sustainable environment.
Recently, Australia’s largest public museum, Museums Victoria, announced joining green revolution by an innovative energy management partnership with Siemens and the Victorian Government. Further, GCC countries are also focusing on efficient energy utilization aiming at growth of green buildings in the region. Such developments have continued to drive the industry in past and an upward trend in energy management is anticipated to be followed in the future.
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