Power Management System (PMS) Market is expected to reach USD 7.45 Billion by 2026 from USD 3.81 Billion in 2016 at a CAGR of 6.95% (Detailed analysis of the market CAGR is provided in the report). PMS minimizes production interruption by providing a continuous power supply and increases the reliability of the electric power system. PMS supports automatic synchronization mechanisms that allow the field to reconnect back to the utility under outages and power deficit. The software segment is expected to form one of the major contributors for the Power Management System Market due to increasing demand for the latest software versions and upcoming technologies in power management systems. Based on the 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 a 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. The marine segment is expected to form one of the major contributors for market among end-users. Asia Pacific (APAC) has formed one of the largest markets for the power management system. High growth in the 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. Key Highlights: • Power Management System Market analysis and forecast, in terms of value. • Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Power Management System Market. • Power Management System Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided. • Power Management System Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of the study. • Power Management System Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation. • Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled. • Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Power Management System Market are also profiled. Research Methodology Bloomberg, Factiva, and Hoovers are some of the sites that are being referred to gain insights into the Power Management System Market. Experts from top manufacturing companies along with other stakeholders have been considered. This is done to validate and collect critical information for evaluating trends related to this market during the forecast period. Top-down and bottom-up approaches have been used to estimate the global and regional size of this market. Data triangulation techniques along with other comparative analysis are also used to calculate the exact size of the Power Management System market globally.
Some of the key players operating in the Power Management System Market include
• ABB (Switzerland) • Siemens (Germany) • Eaton (Ireland) • GE (US) • Wärtsilä (Finland) • ETAP (US) • Rockwell Automation (Japan) Key Target Audience: • Government and research organizations • Power system hardware providers • Power management system companies • Investment banks • Manufacturing companies • Oil & gas companies Years considered to estimate the market size of the Power Management System Market have been mentioned below: • Base year-2016 • Estimated year-2017 • Forecast year- 2017 to 2026
The scope of the Power Management System Market Report:
The Research report segments the Power Management System Market based on type, module, end-user, and geography. Power Management System Market, By Type: • Hardware • Software • Services Power Management System 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 Power Management System Market, By End-User: • Oil & Gas • Marine • Chemicals and Pharmaceuticals • Paper and Pulp • Metals and Mining • Utilities • Data Centers • Others
Power Management System Market, By Geography:
• North America • Europe • Asia Pacific • Middle East & Africa • Latin America
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