The global energy management systems market size was valued at USD 52.6 billion in 2020 and is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the benefits and rising awareness for implementing energy management system.
Energy management systems (EMS) are automated systems that harvest energy measured data from the field and make it available to end-users with the help of online monitoring tools, graphics, and energy quality analyzers, which are facilitating energy resource management. The COVID-19 pandemic outbreak has brought a negative impact on the market. During pandemic, industries, such as coal, petroleum, and natural gas were not operational, which deflated the energy demand globally. The market is expected to recover by the end of 2021 as organizations are resuming their operations from industries and office.
Market Trends, Drivers, Restraints, and Opportunities
- Favorable government policy for sustainable energy usage is one of the key factors driving the market growth.
- Rising adoption of smart grids and smart meters is expected to boost the market growth in the coming years.
- Lack of awareness for EMS across the globe present a major restraining factor. This is anticipated to hamper the market expansion during the projected timeline.
- High implementation and usage cost is likely to hinder the market growth during the forecast period.
- Increasing use of renewable sources of energy, such as using solar panel systems in commercial and residential areas is projected to create a significant growth opportunity for the market in the near future.
Scope of the Report
The report on the global 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.
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Attributes
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Details
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Report Title
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Energy Management Systems Market - Global 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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Verticals (Healthcare, Retail & Offices, Power & Energy, IT & Telecom, Manufacturing, and Others), Components (Controllers, Sensors, Batteries, Software, Display Devices, and Others), Products (Building Energy Management Systems, Industrial Energy Management Systems, and Home Energy Management Systems), Solutions (Demand Response Management, Carbon Energy Management, and Utility Billing & Customer Information System), and End-users (Commercial and Residential)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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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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Daikin Industries; Johnson’s Control International; Toshiba Corp.; ABB Ltd.; IBM; Honeywell Inc.; Schneider Electric; Siemens AG; C3 Energy; General Electric Company; Emerson Process Management; Daintree Networks; Jones Sang LaSalle; Gridpoint Inc.; and Elster Group GmbH
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Market Segment Insights
Power & energy segment is expected to grow at a rapid pace
Based on verticals, the global energy management systems market is divided into healthcare, retail & offices, power & energy, IT & telecom, manufacturing, and others. The power & energy segment is expected to grow at a rapid pace during the forecast period owing to increasing requirements for the monitoring of energy consumption in various sub sectors, such as chemical, oil & gas, power generation, and petrochemical complexes. However, the retail & offices segment is anticipated to hold a key share of the market in the coming years due to energy-efficiency management initiatives adopted by several enterprises.
Increasing demand for sensors to drive the segment
On the basis of components, the market is segregated into controllers, sensors, batteries, software, display devices, and others. The sensors segment is projected to expand at a considerable CAGR during the forecast period attributed to increasing demand and adoption for technological advancements in sensors. On the other hand, the software segment is anticipated to account for a major market share during the forecast period due to integration of data analytics software in existing modules.
Industrial Energy Management Systems segment is anticipated to hold significant market share
In terms of products, the global energy management systems market is segmented into building energy management systems, industrial energy management systems, and home energy management systems. The industrial energy management systems segment is anticipated to hold significant market share in the coming years attributed to assessment in real-time power consumption pattern to achieve reduction in cost. However, the building energy management systems segment is expected to register a considerable CAGR during the forecast period due to increasing installation of the systems in IT establishments, hospitals, shopping malls, business parks, and other commercial places.
Automated energy data recording to drive carbon energy management segment
On the basis of solutions, the market is distributed into demand response management, carbon energy management, and utility billing & customer information system. The carbon energy management segment is expected to hold account for major market share during the projected timeline owing to services it offers, such as establish energy consumption baselines, monitor key sustainability metrics, robust data management, and automate energy data recording.
Residential segment to constitute robust market share
Based on end-users, the global energy management systems market is bifurcated into commercial and residential. The commercial segment is expected to constitute robust market share during the forecast period attributed to major deployment of EMS in the sector. On the other hand, the residential segment is expected to grow at a significant rate due to increasing power generation costs and growing need for managing and conserving energy efficiently in smart homes, societies, and residential buildings.
North America is anticipated to constitute a key market share
In terms of regions, the global energy management systems market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to established network & infrastructure and vast adoption of EMS in several verticals, such as power, manufacturing, retail, and other industries in the region. However, the Asia Pacific market is anticipated to expand at a rapid pace during the forecast period attributed to rapid industrialization, rebates, and tax incentives from various governments across the region.
Segments
The global energy management systems market has been segmented on the basis of
Verticals
- Healthcare
- Retail & Offices
- Power & Energy
- IT & Telecom
- Manufacturing
- Others
Components
- Controllers
- Sensors
- Batteries
- Software
- Display Devices
- Others
Products
- Building Energy Management Systems
- Industrial Energy Management Systems
- Home Energy Management Systems
Solutions
- Demand Response Management
- Carbon Energy Management
- Utility Billing & Customer Information System
End-users
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Daikin Industries
- Johnson’s Control International
- Toshiba Corp.
- ABB Ltd.
- IBM
- Honeywell Inc.
- Schneider Electric
- Siemens AG
- C3 Energy
- General Electric Company
- Emerson Process Management
- Daintree Networks
- Jones Sang LaSalle
- Gridpoint Inc.
- Elster Group GmbH
Competitive Landscape
Key players competing in the global energy management systems market are Daikin Industries; Johnson’s Control International; Toshiba Corp.; ABB Ltd.; IBM; Honeywell Inc.; Schneider Electric; Siemens AG; C3 Energy; General Electric Company; Emerson Process Management; Daintree Networks; Jones Sang LaSalle; Gridpoint Inc.; and Elster Group GmbH. As part of their efforts to grow their client base and acquire a competitive advantage over competitors, manufacturers operating in the market are adopting various strategic initiatives such as partnerships, collaborations, mergers & acquisitions, and new product development.
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