The energy management systems (EMS) market is poised for around USD 58.6 billion by 2022. It had a turnaround of USD 20.5 million in 2014. The need for efficient & reliable Information Technology (IT) platforms for monitoring & controlling available energy sources will drive market demand. Innovative products combined with technological advancements should invite investments in the market.
EMS is an IT tool across various platforms for energy efficiency through process optimization. Energy efficiency can lead several industries to adopt this tool in the years ahead. Energy management systems would also gain prominence across the manufacturing and power & energy industries for energy assessment and real-time monitoring.
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Environmental concerns and attempts to reduce carbon emissions have expanded the energy management systems (EMS) market in the last ten years. Rising energy costs force corporations to adopt EMS & SCADA (supervisory control and data acquisition) systems to boost their profit margins. High investment costs with minimal returns are a hurdle for the market.
But research & developments for the commercialization of products are expected to open new market avenues. Industrial Energy Management Systems (IEMS), Building Energy Management Systems (BEMS), and Home Energy Management Systems (HEMS) are products constituting the market.
IEMS was the largest product, earning 60% of the total revenues in 2014. HEMS could experience the highest growth in the future. This will be attributed to multiple smart home & green building projects in Germany, and the U.S. & U.K.
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Sensors, controllers, and software are components in the energy management systems (EMS) market. Software should be the fastest growing component, at about 16.3% CAGR during 2015 to 2022 (forecast period). Power & energy, telecom & IT, manufacturing, healthcare, and retail & offices are the applications. Power & energy was the major revenue generator, at around USD 22.6 million in 2014.
Geographically, North America dominated the market, capturing 40% of the overall shares in 2014. ‘Energy Star’ & other governmental initiatives allow business companies to optimize their energy performance by implementing EMS. Asia Pacific is projected to experience the highest growth in the seven years ahead.
This region may exceed USD 13 billion by 2022. The same can be credited to improving energy infrastructure and rapid industrialization in India, Indonesia, and China. Reputed participants in the worldwide energy management systems (EMS) market comprise Honeywell, C3 Energy, Siemens Energy, Elster Group GmbH, and Schneider Electric.
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