The global energy management systems (EMS) market is expected to reach USD 58.59 billion by 2022, according to a new report by Grand View Research, Inc. Growing concern towards energy prices coupled with increasing green building construction particularly in economies China, India, Japan, UAE and Germany is anticipated to drive global EMS market growth over next seven years.
High growth markets of Asia Pacific and Europe have been focusing on optimization of energy systems and efficient urbanization plans. Growing concern towards industrial and commercial waste has urged governments to adopt strategies for efficient construction of urban and industrial establishments.
Technology used in EMS is still expensive as there is high cost of R&D involved. The capital spending is highly correlated with the financial health of the company. In addition, the return on investment is gradual, and may take a period of nearly 3-4 years. High investment and longer payback period proves to be a major challenge for the market.
Source: Globe News Wire
With a total estimated cost of around Rs 7,909, the 'Khalapur Smart City' is a major project designed as an...