HNY Research projects that the Power Management System market size will grow from USD 3.77 Billion in 2017 to USD 5.63 Billion by 2023, at an estimated CAGR of 6.92%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.
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The power management system market has been segmented based on type into hardware, software, and services. The software segment is expected to be the largest due to the upgradation of existing software to the latest versions and upcoming technologies. The power management system market has been segmented based on module into power monitoring and control, load shedding and management, energy cost accounting, switching and safety management, power simulators, generator controls, data historian, and others. The others segment includes fuel consumption monitoring, alarms and annunciators, and consoles. The power monitoring and control module segment is estimated to hold the largest share of the market during the forecast period. 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.
By Market Players:
ABB , GE , Siemens , Eaton , Etap , Schneider Electric , Emerson , Mitsubishi Electric , Rockwell Automation , Honeywell , Fuji Electric , L&T , Yokogawa , Wartsila , Cpower , Brush,
Hardware , Software , Services, ,
Power Monitoring & Control , Load Shedding & Management , Energy Cost Accounting , Switching & Safety Management , Power Simulator
Oil & Gas , Marine , Chemicals & Pharmaceuticals , Paper & Pulp , Metal & Mining
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