About Predictive Emission Monitoring System (PEMS)
A Predictive Emission Monitoring System (PEMS) is a software-based system that uses advanced mathematical models to estimate emissions from industrial processes, power plants, and other sources. These models use real-time data from process parameters, such as temperature, pressure, and flow, to estimate emissions of pollutants like NOx, SO2, CO, and CO2. The PEMS market is poised for significant growth in the coming years, driven by increasing environmental regulations, a growing focus on sustainability, technological advancements, and rising concerns about public health.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing on production technologies, efficiency enhancement, and product life. This market has various growth opportunities that leading players capture via tracking the ongoing process enhancement and huge investment in market growth strategies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Predictive Emission Monitoring System (PEMS) market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ABB Ltd. (Switzerland), AMETEK, Inc. (United States), Emerson Electric Co. (United States), Siemens (Germany), Thermo Fisher Scientific Inc. (United States), Hitachi, Ltd. (Japan), Yokogawa Electric Corporation (Japan), Enel X North America, Inc. (Italy), Engie (France) and Schneider Electric (France) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are General Electric (United States), MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan), Honeywell International Inc. (United States), Parker Hannifin (United States) and Eaton (Ireland).
Segmentation Overview
AMA Research has segmented the market of Global Predictive Emission Monitoring System (PEMS) market by , Application (Power Plants & Combustion, Oil & Gas, Chemicals, Pharmaceuticals, Waste Incineration and Others) and Region.
On the basis of geography, the market of Predictive Emission Monitoring System (PEMS) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
If we see Market by , the sub-segment i.e. will boost the Predictive Emission Monitoring System (PEMS) market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
Advancements in Sensor Technology
Market Growth Drivers:
Increasing Stringency of Environmental Regulations and Growing Awareness of the Benefits of PEMS
Challenges:
Data Security Concerns
Restraints:
High Initial Investment Cost
Opportunities:
Rising Demand for Real-Time Data and Rise of the Industrial Internet of Things
Market Leaders and their expansionary development strategies
On January 12, 2021, ABB and Hitachi announced a strategic partnership to develop and deliver industrial IoT solutions that will help customers improve operational efficiency, reduce costs, and increase safety. This could potentially include PEMS solutions in the future.
On February 14, 2023, Schneider Electric launched EcoStruxure Predictive Maintenance Advisor, a new software solution that uses artificial intelligence to help customers predict and prevent equipment failures. This software could be used to monitor emissions and predict problems with emissions control systems.
Key Target Audience
Government Bodies, Research Center, Service Provider, Software Developer and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.