Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Industrial Energy Management Systems (IEMS) market. Market segmentation includes by Component (Hardware, Software, Services); Application (Automotive, Food & Beverage, Electronics, Mining,
Oil & Gas, Petrochemicals & Chemicals, Other Applications)
Current myopic strategy response to stimulate the economy by rolling back environmental priorities and standards is additionally positioning the world for a more serious climate catastrophe. Polluters are now "bolder than ever". The pandemic and resulting economic devastation is giving industries such as fossil fuels, plastics, airlines, and automobiles a free hand as they scramble for advantage. In a worrisome trend, governments, particularly like the U.S. are giving in to companies' lobbying for cash, regulatory rollbacks, tax changes that benefit the industry and other special emission concessions. As manufacturing factories are pushed to make up for lost time and business losses, governments are suddenly issuing a lot more permits for new plant construction which carry serious long-term implications for the environment. Majority of polluting industries are exploiting the opportunity to sideline regulations intended to protect the environment and public health. Climate mitigation endeavors are slated to be dented by lopsided COVID-19 response plans announced by various countries to fuel economy coupled with rollback of stringent pollution-related norms. The situation is further exacerbated by biased focus of governments on reviving the economy, even on the expense of climate mitigation efforts. Several countries are bailing out polluting industries and relaxing regulations pertaining to pollution control and monitoring. Leading economies including the US and Europe are aggressively supporting industries, including polluting units, and accelerating permits for coal-fired power generation. In addition, various governments are offering stimulus packages and suspending taxes and fees for polluting industries to drive economic activity. While these strategies are intended to augment economic growth and create new job opportunities, they also give sustainability a major setback.
Now is the time to foresee and prevent environmental degradation. Although the present economic scenario does not warrant additional investments in energy infrastructure owing to the low demand, governments and businesses should take advantage of the attractive pricing at the moment to initiate infrastructure buildup for alternative energy as part of long-term strategy to decrease dependence on fossil fuels. For instance, to achieve net zero emissions, renewable energy would have to account for about three-fourths of energy supply, and investments in alternative energy would aid countries and companies to achieve this goal at a faster rate. Governments can also aid in improving sustainability by promoting innovation and disruptive technologies that can aid sustainability measures. Governments should try to link economic support with sustainability measures and should find ways to blunt the effect of any politically adverse reactions through proper implementation and communication. The pandemic provides the perfect opportunity for increased shift towards alternative energy. Even though fossil fuel-based energy has become cheap owing to economic slowdown, alternative energy is the future for a sustainable planet. With a green recovery from COVID-19 being the only meaningful recovery, investments in Industrial Energy Management Systems (IEMS) is poised for a quick rebound from the current slump.
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 30573. Among this pool, 2446 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 612 unique participations, a total of 276 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
Segments Covered in the Report -
Component (Hardware, Software, Services)
Application (Automotive, Food & Beverage, Electronics, Mining, Oil & Gas, Petrochemicals & Chemicals, Other Applications)
Geographies Analyzed in the Report -
Rest of Europe
Rest of Asia-Pacific
Rest of Latin America
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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
Director, Corporate Communications
Global Industry Analysts, Inc.