Power Management System Market to Post 6.88% CAGR to 2022, Expects M&M in Its New Report Available at MarketPublishers.com26 Jan 2018 • by Natalie Aster
LONDON – In 2017, the world’s power management system market reached USD 3.77 billion in value terms. Through to 2022, this market will likely exhibit tremendous growth at a 6.88% CAGR to amount to the value of USD 5.26 billion. The major drivers of the hasty market growth comprise the rising need for energy conservation in the manufacturing sector, North America’s shale oil and gas boom, and surging uptake of IoT and cloud-based platforms. However, the risk to data protection is a key factor hindering the market’s growth.
The software segment is anticipated to take the lead in the market for power management systems in the offing. The renewal of current software as well as a hike in the usage of IoT and cloud platforms are the main factors giving a boost to the segment.
APAC is set to dominant the power management system market in the coming years. The governments’ initiatives for manufacturing industries will likely drive investments and enhance the demand for power, hence stimulating the requirement for power management systems in the region. India, China, and South Korea are projected to grow rapidly to 2022.
ABB, Siemens AG, Eaton, GE, and ETAP, amid others, are the top players in the marketplace.
New cutting-edge report “Power Management System Market - Global Forecast to 2022” drawn up by M&M offers an up-close, comprehensive look at the market on a global level.
The study defines and describes the market and presents a granular quantitative and qualitative analysis of the market. It provides extensive market segmentation based on module, type, end-user sector, and region-wise; providing market size estimates and forecasts for the whole market and each of the segment. The report gives an all-round understanding of the pulse of the marketplace and provides shrewd insights into market drivers, hindrances, challenges, and opportunities. The publication examines the competitive scenario and offers a ranking of the market players and the market structure for 2016. The report includes granular profiles of the prominent players, covering their services, recent developments, and key market strategies.
Many other new research reports by this publisher are at hand in M&M online catalogue.