BANGALORE, India, Nov. 10, 2020 /PRNewswire/ -- A new Energy Management System Market Research Report published on Valuates Reports in Energy & Utilities Category. The report contains segmentation Based on Device (In-House Display, Load Control Switches, Smart Plugs, and Smart Thermostats), Based on Software (Enterprise Carbon and Energy Management, Residential Energy Management System, and Utility Energy Management System), Based on Solution (Carbon Management System, Demand Response Management, and Utility Billing and Customer Information System), Based on Application (Building Energy Management System and Home Energy Management System). It also covers Global Opportunity Analysis and Industry Forecast to 2025.
The Global Energy Management System Market size is expected to grow from USD 51,852.87 Million in 2019 to USD 95,766.99 Million by the end of 2025 at a CAGR of 10.76%.
Major factors driving the growth of Energy Management System Market size are increasing adoption of smart grids, stringent government regulations to conserve energy, technological developments that help collect and monitor data usage, and the increasing renewable energy usage.
The report explores the recent significant developments by the leading vendors and innovation profiles in the Global Energy Management System Market. It also provides an exhaustive assessment of Energy Management System Market size shares, strategies, products, and manufacturing capabilities of the leading players.
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TRENDS INFLUENCING THE ENERGY MANAGEMENT SYSTEM MARKET SIZE
The increasing upgradation of power grids to smart grids is expected to drive the Energy Management System Market size. With simple integration and reliable service for customers, smart grid systems offer greater utility to save electricity. Smart power meter data allows customers the ability to automate billing data collections and identify system failures. In smart grids, intelligent systems can determine when to use energy based on consumer pre-set preferences. This helps to reduce peak loads that affect electricity generation costs.
Strict government policy towards energy efficiency is expected to increase the growth of the energy management system market size. Energy conservation initiatives are used in most of the developed and emerging economies. Different government regulations have been introduced in recent years to adopt cost-effective, safe sources of energy as an alternative to conventional sources of energy.
The growth of the Energy Management System Market size is driven by the ever-growing number of reliable information technology platforms. Technology platforms help manage and leverage the resources available to provide personalized data for corrective actions and better monitoring of energy-efficient solutions.
Furthermore, the growing usage of renewable energy sources, such as the use of solar panel systems in residential and commercial areas, is expected to increase the Energy Management System Market size.
The rapid growth of the well-organized retail and healthcare industries has, in turn, increased the growth of the energy management system market size. In addition, because of the rapid commercialization of innovative products such as the multi-network integration of SCADA and so on, investments in these sectors are expected to increase.
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ENERGY MANAGEMENT SYSTEM MARKET SHARE ANALYSIS
Based on Device, the in-house display system segment held the largest Energy Management System Market share in 2017. In-house displays provide a visual indication of the amount of energy used in a house at any given time, along with the cost.
Based on the region, North America is expected to hold the largest Energy Management System Market share. This dominance of North America is attributed to the well-established infrastructure network and widespread adoption of EMS across verticals such as manufacturing, retail, electricity, and other industries.
During the forecast period, Asia Pacific is expected to witness the highest growth during the forecast period. The rapid industrialization, rebates, and tax incentives from different governments across the region, especially in China and India, are expected to be the major drivers for the growth of the Energy management market size in the Asia-pacific region.
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- CA Technologies
- CISCO SYSTEMS INC
- Eaton Corporation plc
- Emerson Electric Company
- General Electric Company
- Honeywell International Inc
- International Business Machine Corporation
- Key Target Audience
- Schneider Electric SE
- Siemens AG
ENERGY MANAGEMENT SYSTEM MARKET SEGMENTATION & COVERAGE
This research report categorizes the Energy Management System to forecast the revenues and analyze the trends in each of the following sub-markets:
Based on Device, the Energy Management System Market studied across
- In-House Display
- Load Control Switches,
- Smart Plugs, and
- Smart Thermostats.
Based on Software, the Energy Management System Market studied across
- Enterprise Carbon and Energy Management,
- Residential Energy Management System, and
- Utility Energy Management System.
Based on Solution, the Energy Management System Market studied across
- Carbon Management System,
- Demand Response Management, and
- Utility Billing and
- Customer Information System.
Based on Application, the Energy Management System Market studied across the
- Building Energy Management System
- Home Energy Management System.
Based on Geography, the Energy Management System Market studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas region surveyed across Argentina, Brazil, Canada, Mexico, and the United States. The Asia-Pacific region surveyed across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, South Korea, and Thailand. The Europe, Middle East & Africa region surveyed across France, Germany, Italy, Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, United Arab Emirates, and the United Kingdom.
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SIMILAR REPORTS :
- India Energy Management Systems Market Research Report: The India Energy Management Systems Market size is expected to reach USD 2,145 Million by 2023, from USD 635 Million in 2016, growing at a CAGR of 19.1% during the forecast period. The government of India's initiative to develop the country as the next manufacturing hub to exploit its large workforce to use resources efficiently is expected to provide market players with significant opportunities for efficient energy distribution, usage, and transmission consulting opportunities. Furthermore, the India Energy Management Systems Market size is expected to grow in the coming years due to the advancement of public services and infrastructure through the use of smart technologies in smart city projects.
- Energy Management Software Market: This market size is projected to reach USD 62660 Million by 2026, from USD 34230 Million in 2020, at a CAGR of 10.6% during 2021-2026. This Report contains segmentation by Type (Software, Cloud Based, On Premise), by Application (Automotive, Building Automation, Oil & Gas Manufacturing, Pharmaceutical, Utilities & Energy, Others) and Regional Opportunity Analysis and Industry Forecast 2026.
- Building Energy Management System (BEMS) Market: The global Building Energy Management System (BEMS) market size is projected to reach USD 8279.8 Million by 2026, from USD 4341.6 Million in 2020, at a CAGR of 11.4% during 2021-2026. List of top companies in the Building Energy Management System (BEMS) Market in 2019 based on revenue share:
- Johnson Controls (14.28%)
- Schneider Electric (11.60%)
- Honeywell (8.19%)
- Siemens (6.12%)
- Emerson Electric Electric (5.79%)
- General Electric (5.24%)
- Eaton (4.91%)
- Azbil (4.05%)
- GridPoint (3.00%)
- Tongfang Technovator (2.37%)
- Cylon Controls (0.38%)
- Power Management System Market Research Report: The global Power Management System market size is projected to reach USD 4721.6 Million by 2026, from USD 3752.9 Million in 2020, at a CAGR of 3.9% during 2021-2026. The major factor driving the growth of Power Management System market size is a growing demand in the manufacturing sector for energy efficiency, increasing the installation of renewables in the industry, and increasing adoption of IoT and cloud-based platforms.
- Home Energy Management System (HEMS) market size is projected to reach USD 3155 Million by 2026, from USD 1468 Million in 2020, at a CAGR of 13.6% during 2021-2026. The Report contains segmentation by Type (ZigBee, Wi-Fi, Z-Wave, HomePlug, Wireless M-Bus, by Application ( Gaming, IPTV, Internet Content )
- Industrial Energy Management System (IEMS) market size is projected to reach USD 31956 Million by 2027, from USD 26359 Million in 2019, at a CAGR of 4.51% during 2020-2027. The Report contains segmentation by Type ( Hardware, Services, Technology ), by Application ( Automotive, Construction, Electronics, Food & Beverages, Mining, Oil & Gas, Petrochemicals, Utilities) and Regional Opportunity Analysis and Industry Forecast 2026.
- Advanced Distributed Management System (ADMS) Market Size, Share, Trends, Growth, Industry Analysis, Forecast 2020 to 2026. The Report contains segmentation by Type ( Single Database Type, Multi Database Type), by Application ( Network Connectivity Analysis (NCA), Switching Schedule & Safety Management, State Estimation (SE), Load Flow Applications (LFA) Volt-VAR Control (VVC), Load Shedding Application (LSA), Fault Management & System Restoration (FMSR), Load Balancing via Feeder Reconfiguration, (LBFR) Distribution Load Forecasting (DLF) ) and Regional Opportunity Analysis and Industry Forecast
- Sustainability & Energy Management Software Market size is expected to grow from USD 934.42 Million in 2019 to USD 1,914.89 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 12.70%. The report contains segmentation Based on Function (Carbon Reporting & Management, Compliance Management, Energy Optimization, Facility & Asset Management, Sustainability Reporting and Management, and Utility Data Management), Based on Deployment ( On-Cloud and On-Premise), Based on End-User ( Automotive, Building Automation, Manufacturing, Oil & Gas, Pharmaceutical, and Utilities & Energy) and Regional Opportunity Analysis and Industry Forecast 2025
- Carbon Footprint Management market size is projected to reach USD 13010 Million by 2026, from USD 9108 Million in 2020, at a CAGR of 6.1% during 2021-2026. The report contains segmentation by Type ( Software, Service), by Application ( IT and Telecom, Manufacturing, Commercial Buildings, Transportation, Utilities) and Regional Opportunity Analysis and Industry Forecast 2026.
- Smart Thermostats Market Research Report: In 2019, the global Smart Thermostats market size was USD 11330 Million, and it is expected to reach USD 29540 Million by the end of 2026, with a CAGR of 14.5% during 2021-2026. Major factors driving the growth of smart thermostats market size are the increasing urbanization, population growth and the need for connected devices in smart homes. Furthermore, government funding for energy-saving technologies is fueling the Smart Thermostats Market size. Based on region, in 2018, North America held the largest smart thermostat market share of about 71.71%, followed by Europe with 19.47% market share. Asia Pacific region is expected to witness the highest growth during the forecast period with a sales share of about 14.49%.
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