The global energy management system market size is expected to reach USD
117.83 billion by 2025, according to a new study conducted by Grand View
Research, Inc., expanding at a CAGR of 17.1% during the forecast period.
Technologically-updated business expansion initiatives such as smart cities are
expected to fuel the energy management system (EMS) market growth. Selecting
the right vendor is crucial for implementing and monitoring EMS solutions.
Installing individual energy meters in problem areas and creating an interactive
communication program among end users are likely to further lead to enhanced
monitoring of the transmitted data.
Typically, an EMS includes devices,
sensors, and meters that measure and monitor energy consumption and other
factors related to them. These devices then transmit data over wireless network
to a centrally-located server where an interactive application helps users in
analyzing and optimizing information. Numerous EMS vendors provide hardware,
software, and consulting support to keep the program running. Moreover, if the
energy meters have the ability to operate on an open protocol, such as MODBUS,
customers may not be dependent on any particular hardware or software vendor.
With an expected increase in the costs of
energy, gas, electricity, and oil, companies have become more conscious about
maintaining, utilizing, and conserving energy resources efficiently. The price
decrease in primary and secondary renewable energy sources will play an
important role in reducing manufacturing costs.
Most enterprises have realized the need to
implement EMS solutions to effectively monitor their systems. Transport and
industrial sectors witness increased energy consumption, which poses numerous
environmental concerns.Thus, the need for an intelligent management system to
streamline operations becomes inevitable.
In the recent times, most top players have
been making large investments in research & development programs to enhance
their products. Improved features such as product maintenance services and analyzing
software analytics by expert consultants are a few key factors expected to
drive the growth of energy management system industry.
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https://www.grandviewresearch.com/industry-analysis/energy-management-systems-market
https://www.grandviewresearch.com/industry-analysis/energy-management-systems-market
Further key findings from the report suggest:
· The software segment is anticipated to grow
at the highest CAGR of 18.0% from 2019 to 2025 owing to the rising demand for
EMS to record and monitor energy utilized across various segments.
· The HEMS segment in energy management
system market is anticipated to grow at the highest CAGR of 19.4% from 2019 to
2025. This growth can be attributed to increasing adoption of HEMS for
curtailing carbon emissions.
· The demand response management segment is
expected to witness the fastest growth over the forecast period. This growth is
attributed to the increasing adoption of demand response management solutions
for scheduling, monitoring, and controlling Distributed Energy Resources
(DERs).
· Increasing demand for EMS in power
generation and transmission operations is expected to fuel the power &
energy segment growth over the forecast period.
· EMS are widely used in commercial buildings
as it collects energy usage data and monitors equipment for maintenance needs.
· The Asia Pacific region is expected to
witness the fastest growth over the forecast period and reach USD 29.13 billion
by 2025, owing to high number of effective energy management solutions in
countries such as India and China.
· Key industry participants include C3
Energy, General Electric Company, Emerson Process Management, Daikin
Industries, Daintree Networks, Jones Sang LaSalle, Gridpoint Inc., Schneider
Electric, Siemens AG, Honeywell International Inc., Elster Group GmbH, ABB,
IBM, Toshiba Corporation, and Johnson’s Control International.
Grand View Research has segmented the
energy management system market on the basis of product, component, solution,
vertical, end use, and region:
Energy Management Systems (EMS) Product
Outlook (Revenue, USD Billion; 2014 - 2025)
·
Industrial Energy Management Systems (IEMS)
·
Building Energy Management Systems (BEMS)
·
Home Energy Management Systems (HEMS)
Energy Management Systems (EMS) Component
Outlook (Revenue, USD Billion; 2014 - 2025)
·
Sensors
·
Controllers
·
Batteries
·
Software
·
Display Devices
·
Others
Energy Management Systems (EMS) Solution
Outlook (Revenue, USD Billion; 2014 - 2025)
·
Carbon Energy Management
·
Demand Response Management
·
Utility Billing and Customer Information
System
Energy Management Systems (EMS) Vertical
Outlook (Revenue, USD Billion; 2014 - 2025)
·
Power & Energy
·
Telecom & IT
·
Manufacturing
·
Retail & Offices
·
Healthcare
·
Others
Energy Management Systems (EMS) End Use
Outlook (Revenue, USD Billion; 2014 - 2025)
·
Residential
·
Commercial
Energy Management Systems (EMS) Regional
Outlook (Revenue, USD Billion, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
U.K.
·
Asia Pacific
o
China
o
India
o
Japan
o
Indonesia
o
Singapore
o
Thailand
o
South Korea
o
Malaysia
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa (MEA)
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
