The Asia Pacific energy management systems market size is projected to expand at a significant CAGR during the forecast period, 2021-2028. The growth of the market is attributed to increase in energy demand.
Energy management systems (EMS) are emerging technologies that collect the data from the real-time information on the energy use through pictures, online monitoring tools, energy quality assurance, and visualizing energy consumption. The main objective of EMS is to achieve and maintain optimum energy procurement and utilization.
Asia Pacific Energy Management Systems Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for energy conservation and environmental safety is anticipated to drive the market growth during the forecast period.
- Rising evolution of smart grid is projected to boost the market growth in the coming years.
- Growing favorable government policies and incentive programs is expected to spur the market growth during the forecast period.
- Increasing adoption of smart buildings is anticipated to drive the market growth during the forecast period.
- Rising scope for energy management in HVAC systems is projected to boost the market growth in the coming years.
- High cost of deployment is estimated to restrict the market growth.
- Privacy and security risks is projected to hinder the market growth.
- Rising demand for electric vehicle (EV) charging infrastructure is anticipated to create significant opportunities for the market players.
Scope of Asia Pacific Energy Management Systems Market Report
The report on the Asia Pacific energy management systems market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Energy Management Systems Market - Asia Pacific Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Type of EMS (Building EMS, Industrial EMS, and Home EMS), End-users (Manufacturing, Power and Energy, IT and Telecommunication, Healthcare, and Others), and Components (Hardware, Software, and Services)
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Geography
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China, India, Japan, Australia and Rest of Asia Pacific
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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IBM Corporation; Honeywell International Inc.; Schneider Electric SE; Rockwell Automation Inc.; General Electric Company
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Asia-Pacific Energy Management Systems Market Segment Insights
Industrial EMS segment to hold a significant market share
Based on types of EMS, the market is divided into building EMS, industrial EMS, and home EMS. The building EMS segment is anticipated to hold a key share of the market in the coming years due to lower costs in operating and maintaining critical assets. However, the industrial EMS segment is anticipated to expand at a rapid pace during the forecast period owing to high quality manufacturing processes and methods.
Fresh forage segment is anticipated to hold a large market share
On the basis of end-users, the market is segregated into manufacturing, power and energy, IT and telecommunication, healthcare, and others. The power and energy segment is anticipated to hold a key share of the market in the coming years, as it provides enhanced control over the power systems and facilities by providing vital data on your power-distribution assets and network. On the other hand, the IT and telecommunication segment is expected to grow at a robust rate due to increasing energy requirements for data servers.
Software segment to hold a significant market share
In terms of components, the market is divided into hardware, software, and services. The hardware segment is anticipated to hold a key share of the market in the coming years. However, the software segment is anticipated to expand at a rapid pace during the forecast period.
India is estimated to account a major market share
On the basis of geography, the Asia-Pacific market is classified as India, China, Japan, Australia, and Rest of Asia Pacific. China is expected to constitute a significant share of the market during the projected period due to rising energy prices and the requirement to control and reduce carbon emissions whilst magnifying their efficiency. However, the market in India is anticipated to expand at a rapid pace during the forecast period owing to growing industrial & manufacturing sector.
Segments
Segments Covered in the Report
The Asia-Pacific energy management systems market has been segmented on the basis
Type of EMS
- Building EMS
- Industrial EMS
- Home EMS
End-users
- Manufacturing
- Power and Energy
- IT and Telecommunication
- Healthcare
- Others
Components
- Hardware
- Software
- Services
Geography
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
Key Players
- IBM Corporation
- Honeywell International Inc.
- Schneider Electric SE
- Rockwell Automation Inc.
- General Electric Company
Competitive Landscape
Key players competing in the Asia Pacific energy management systems market includes IBM Corporation; Honeywell International Inc.; Schneider Electric SE; Rockwell Automation Inc.; General Electric Company.
Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.