The global power management system market is projected to reach USD 7.5 billion by 2028 from an estimated USD 5.8 billion in 2023, at a CAGR of 5.4% during the forecast period. Factors such as Increasing demand for energy efficiency, rising installation of renewables in industries are driving the market.
The power management system market is served by a mix of large international players with global operational presence and local players with a strong domestic supply network.
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ABB (Switzerland), Siemens (Germany), Schneider Electric (US), General Electric (US), Emerson Electric (US) are the market leaders in the global power management system market. These companies use strategies such as acquisitions, sales contracts, product launches, partnerships to increase their market share.
Schneider Electric (France) is a global leader in energy management and automation solutions. Founded in 1836, the company has grown into a multinational corporation with its headquarters in Rueil-Malmaison, France. Schneider Electric operates in multiple segments, including Energy Management, Industrial Automation, and Electrical Distribution.
General Electric (GE) (US) is a renowned American multinational conglomerate corporation with a long and storied history. Founded in 1892, GE has been a pioneer in various industries, including power generation, aviation, healthcare, renewable energy, and digital solutions. Over the years, the company has grown into a diversified global enterprise with its headquarters in Boston, Massachusetts, USA.
ABB (Switzerland) is a leading Swiss-Swedish multinational corporation specializing in power and automation technologies. Founded in 1988 through the merger of two pioneering companies, ASEA and BBC, ABB has grown into a global powerhouse with its headquarters in Zurich, Switzerland. The company operates in various industries, including power grids, electrification, industrial automation, robotics, and motion.
Power Management System Market by Type (Hardware, Software, Services), Module (Power Monitoring, Load Shedding, Power Simulator, Generator Controls), End-User (Oil & Gas, Marine, Metals & Mining, Data Centers) and Region - Global Forecast to 2028
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