Market Research Future published a research report on “Energy Management System Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
Energy management system is the system that monitors and conserves energy in a building or an organization. This system meters the energy consumption and collects the data required for conserving energy. This system tracks the progress by analyzing the meter data and monitoring the results obtained. This system takes actions to target the factors causing energy conservation such as tackling the routine waste and replacing it with equipment.
The energy management system market is expected to grow at USD ~89 Billion by 2023, at ~18% of CAGR between 2017 and 2023.
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The driving factors for energy management system market include rising awareness among people to improve environment quality, increasing demand for green environment all around the world, awareness among factory owners to implement energy management systems for their production units in order to have healthy environment have led to growth of energy management systems in the market. The advantage of using this system is that it reduces costs due to which most of the organization can save up to half percent of fuel by managing the energy use. The only drawback is that some of the organization do not see energy management as an opportunity to improve performance and reduce costs.
The energy management system market is segmented on the basis of software, solution and vertical. The software segment consists of utility EMS, industrial EMS, residential EMS and enterprise carbon & energy management. The solution segment consists of carbon energy management, demand response management, utility billing and customer information system. By software segment, utility EMS monitors and controls all the transmission, generation and distribution assets. It reduces overall system costs and provides maintenance support tools. These systems help in managing large state- wide and region-wide power grid transmission networks.
- Honeywell International Inc. (U.S.),
- Cisco Systems Inc. (U.S.),
- International Business Machines Corporation (U.S.),
- Siemens AG Ltd. (Germany),
- Eaton Corporation PLC (Ireland),
- CA Technologies (U.S.),
- Emerson Electric Company (U.S.),
- Daikin Industries Ltd. (Japan),
- Carma Industries Inc. (Canada),
- Enernoc Inc. (U.S.), among others.
Study Objectives of Energy Management System Market:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the energy management system
- To provide insights about factors affecting the market growth.
- To analyze the energy management system market based porter’s five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
- To provide country level analysis of the market with respect to the current market size and future prospective.
- To provide country level analysis of the market for segment on the basis of software, solution and vertical.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the energy management system
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Energy management system market is segmented on the basis of software, solutions and vertical.
Energy management system market by Software:
- Utility EMS
- Industrial EMS
- Residential EMS
- Enterprise Carbon And Energy Management
Energy management system market by Solution:
- Carbon energy management
- Demand response management
- Utility billing and customer information system
Energy management system market by Verticals:
- IT & Telecommunication
- Energy & Power
- Office and Commercial Buildings
The regional analysis of energy management system market is being studied for region such as Asia Pacific, North America, Europe and Rest of the World. North America is estimated to acquire largest market share in this market because of increasing demand for adoption of building energy management systems (BEMS) which has led to healthy environment across the building. Europe is expected to be second largest region because of government initiatives for implementation of energy saving plans and promotion of renewable energy resources.
We are thankful for the support and assistance from Energy Management System Market Research Report- Forecast 2023chain related technical experts and marketing experts during Research Team survey and interviews.
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