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Energy Management System Market
A comprehensive overview of the global energy management system market is recently added by UnivDatos Market Insights to its humongous database.
NOIDA, UTTAR PRADESH, INDIA, September 27, 2022 / / -- A comprehensive overview of the global is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on energy management system market globally. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the global market at regional and country levels.
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Market Overview
The global Energy Management System Market is expected to witness a CAGR of around 18% during the forecast period (2021–2027). Rising investments in power transmission and distribution networks coupled with the growing augmentation and modernization of transmission and distribution networks across the globe are expected to drive the market. As per the United Nations Industrial Development Organization (UNIDO), an energy management system (EMS) is a framework for energy consumers, including industrial, commercial, and public sector organizations, to manage their energy use. It assists businesses in identifying opportunities to adopt and improve energy-saving technologies, including those that do not necessitate a large capital investment. In most cases, successful EMS implementation requires specialized knowledge and staff training. Thus, with the rising energy consumption coupled with the integration of mandatory environmental regulations and policies in the current energy management ecosystem, the global EMS market is expected to witness exponential growth during the forecast period.
COVID-19 Impact
Industry growth witnessed some stress and negative impact due to COVID-19. The sudden outbreak of COVID-19 has sent shockwaves across industries manufacturing, power generation, renewables, nuclear, and oil and gas. The outbreak and the resulting economic slowdown have had an intermediate impact on energy management system industry. Although the COVID-19 pandemic has forced to stop all the fieldwork of several major projects, the market is nonetheless expected to remain robust with the cumulative number of EMS integration.
Global energy management system report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Type, the market is primarily bifurcated into:
•BEMS
•IEMS
•HEMS
Based on type, the market is classified into building energy management system (BEMS), industrial energy management systems (IEMS), and home energy management system (HEMS). Amongst them, IEMS is expected to witness significant growth during the forecast period. This is mainly due to the adoption and integration of energy-efficient systems and technologies by industries across the world coupled with the introduction of new EMS by major stakeholders in the market. For instance, GE IEMS – a digital control system by General Electric offers monitoring of energy consumption, analysis of operational data, automated alerts and alarming, and system events meeting application and operational requirements.
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By End-Users, the market is primarily bifurcated into:
•Manufacturing
•Power and Energy
•IT and Telecommunication
•Healthcare
•Others
Based on end-users, the market is classified into manufacturing, power and energy, it and telecommunication, healthcare, and others. Amongst them, the power and energy category accounted for a significant market share in 2020. This is mainly due to the rising investment by government and private entities for the up-gradation of power and energy infrastructure, globally. Key stakeholders in the industry have spotted smart grid technology as a strategic energy infrastructural investment as long-term economic success and help in achieving the carbon emission targets. For instance, the Ministry of Natural Resources Canada has launched, the Renewables and Electrification Pathways (SREPs) program, a four-year US$ 795 million (CA$ 960 million) investment plan to support the rollout of smart grid technologies.
By Application, the market is primarily bifurcated into:
•Energy Generation
•Energy Transmission
•Energy Monitoring
Based on application, the market is categorized into energy generation, energy transmission, and energy monitoring. During the forecast period, the energy monitoring category is expected to witness significant growth in the market. Energy monitoring is the act of collecting real-time or interval energy data so that building resource consumption can be managed efficiently. The market is also witnessing the development of connected, intelligent devices, such as smart meters, smart sensors, and smart thermostats, further supporting the category's growth.
Global Energy Management System Market Geographical Segmentation Includes:
•North America
United States
Canada
Rest of North America
•Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe
•Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
•Rest of World
For a better understanding of the market adoption of the Energy Management System industry, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America); Europe (Germany, U.K., France, Italy, Spain, and the Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific); and the Rest of World. In 2020, North America, accounted for a significant share in the market owing to high investment and active deployment of the advanced technologies in the region's power grid sector. For instance, according to the IEA, in 2019, the United States surpassed China to lead in grid investment for the first time in ten years.
𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡-
The major players targeting the market includes:
•IBM Corporation
•Rockwell Automation Inc.
•General Electric Co.
•Schneider Electric SE
•Cisco Systems Inc.
•Tendril Networks Inc.
•Eaton Corporation
•EnerNOC Inc.
•Elster Group GMBH
•SAP SE
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analysts' sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the global energy management system industry. The major players have been analyzed by using research methodologies for getting insight views on market competition.
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Key questions resolved through this analytical market research report include:
•What are the latest trends, new patterns, and technological advancements in the global energy management system industry?
•Which factors are influencing the global energy management system industry over the forecast period?
•What are the global challenges, threats, and risks in the energy management system market?
•Which factors are propelling and restraining the energy management system industry?
•What are the demanding global regions of the energy management system market?
•What will be the market size in the upcoming years?
•What are the crucial market acquisition strategies and policies applied by the companies?
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Ankita Gupta
UnivDatos Market Insights (UMI)
+91 97176 88269
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