Global Power Management System (PMS) Market – Industry Analysis and Forecast (2017-2026) _ by Type (Hardware, Software and Services), by Module (Power Monitoring & control, Load Shedding & management, Power Simulator and Others), by End-User, and Geography
PMS minimizes production interruption by providing a continuous power supply and increases reliability of electric power system. PMS supports automatic synchronization mechanisms that allow the field to reconnect back to the utility under outages and power deficit.
Power Management System (PMS) Market valued USD 3.81 Billion in 2016 and expected to reach USD 7.45 Billion by 2026, at a CAGR of 6.95%.
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Report includes assessment of Global Power Management System (PMS) Market definition along with the identification of key players and analysis of their strategies, complete quantitative analysis of the industry from 2017 to 2026 to enable the stakeholders to capitalize on the prevailing market opportunities, market analysis and comprehensive segmentation with respect to the product, application, technology and geography to assist in strategic business planning.
The software segment is expected to form one of the major contributors for the Global Power Management System (PMS) Market due to increasing demand for the latest software versions and upcoming technologies in power management systems. Based on module, the market has been segmented into power monitoring and control, load shedding and management, switching and safety management, power simulators, energy cost accounting, generator controls, data historian and others.
Power monitoring and control segment is expected to hold one of the largest market shares for power management system.
The growth in the manufacturing sector in economies such as China and India and the growth in the oil & gas sector in North America are expected to boost the demand for power monitoring and control modules during the forecast period.
Asia Pacific (APAC) has formed one of the largest markets for power management system.
High growth in APAC region can be attributed to increase in the shipbuilding industries and growth in the manufacturing sector across countries like China and India. Increasing demand for energy efficient systems is also one of the factors to drive overall market growth.
Scope of the Report:
The Research report segments the power management system market based on type, module, end-user and geography.
Global Power Management System (PMS) Market, By Type:
• Hardware
• Software
• Services
Global Power Management System (PMS) Market, By Module:
• Power Monitoring and Control
• Load Shedding and Management
• Energy Cost Accounting
• Switching and Safety Management
• Power Simulator
• Generator Controls
• Data Historian
• Others
Global Power Management System (PMS) Market, By End-User:
• Oil & Gas
• Marine
• Chemicals and Pharmaceuticals
• Paper and Pulp
• Metals and Mining
• Utilities
• Data Centers
• Others
Global Power Management System (PMS) Market, By Geography:
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
Some of the key players operating in the Global Power Management System (PMS) Market include,
• ABB (Switzerland)
• Siemens (Germany)
• Eaton (Ireland)
• GE (US)
• Wärtsilä (Finland)
• ETAP (US)
• Rockwell Automation (Japan)