Increasing electricity bills necessitating the need for optimum electricity management is identified as the major factor driving the energy management systems (EMS) market. This has further augmented the need for real-time monitoring and measurement of energy consumption patterns, especially in industries including manufacturing, power utilities, oil and gas, and mining among others. In addition, government regulations promoting green energy and use of energy efficient solutions is expected to fuel market momentum in the coming years. These factors are expected to contribute towards a compounded annual growth rate (CAGR) of 14.2% during the forecast period 2015 – 2023. The energy management systems (EMS) market is expected to reach US$ 57.8 Bn by 2023.
1.1 Market Scope and Segmentation
This report analyzes the global energy management systems (EMS) market in terms of product type, component, end-use, and geographical distribution. On the basis of type, the market is segmented into industrial energy management systems (IEMS), building energy management systems (BEMS), and home energy management systems (HEMS) market. Similarly, on the basis of end-use, the energy management systems market is further classified into industrial, commercial, and residential. Based on components, the market for energy management systems is classified into hardware, software, and other components (communication networks, etc.). The geographical distribution of the global energy management systems (EMS) market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, Middle East and Africa and Rest of the World.
1.2 Report Description
Purpose of the Report
The purpose of this strategic research study titled “Global Energy Management Systems (EMS) Market - Growth, Share, Opportunities, and Competitive Analysis, 2015 – 2023” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the global energy management systems (EMS) industry.
Target Audience
USP and Key Offerings
The report titled “Global Energy Management Systems (EMS) Market- Growth, Share, Opportunities, and Competitive Analysis, 2015 – 2023” offers strategic insights into the global energy management systems (EMS) market along with the market size and estimates for the duration 2013 to 2023. The said research study covers in-depth analysis of multiple market segments based on product type, technology, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading home energy management system (EMS) manufacturers, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and key developments. Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global energy management systems (EMS) market, offering market size and estimates for the period from 2015 to 2023, keeping in mind the above mentioned factors.
In the base year of 2014, the industrial energy management systems (IEMS) segment was the largest revenue contributing segment to the global energy management systems market. It accounted for around two-third of the global market revenue in the same year. The trend is expected to prolong during the forecast period 2015 – 2023, with the industrial energy management systems segment retaining its dominant position. The demand for industrial energy management systems is majorly driven by worldwide regulations promoting energy management installations for minimizing emissions and optimizing fuel consumption in varied industries. Although the industrial energy management systems segment is expected to remain the dominant segment, both building energy management and home energy management solutions are expected to exhibit robust growth over the forecast period 2015 – 2023. The home energy management systems (HEMS) segment is anticipated to witness steep growth on account of the growing desire among consumers to analyze and control their household energy consumption. In addition, demand for building energy management solutions (BEMS) is expected to be driven by the escalating demand from commercial shopping complexes, hospitals, and IT parks among others.
In the base year of 2014, the hardware component comprising in-house displays, smart thermostats, smart plugs, load control switches, and lighting control systems among others was the largest revenue contributing segment in the energy management systems (EMS) market. The segment accounted for over 70% of the global energy management systems market revenue. Although the hardware segment is expected to remain the dominant segment over the forecast period, the software segment is poised to become one of the most attractive business segments in the energy management systems market. Leading players in the energy management systems market such as Building IQ, Ecova, and C3 Energy have developed vertical-specific energy management software platforms that would help respective end-user to perform analytics and settle on optimized solutions. Furthermore, successful integration of data analytics and big data in current energy management system prototypes has been one of the key accomplishments in the energy management systems market in recent years.
In the base year of 2014, North America comprising the U.S. and Canada was the largest energy systems (EMS) market in terms of both revenue and volume. The region acquired over 35 percent of the global market revenue share in 2014. The U.S. was the largest and most lucrative energy management systems market in North America as well as worldwide. This dominance can be majorly attributed to the relatively high market penetration of wireless technologies in different industry verticals including power and energy, telecom and IT, and retail among others. The region is also characterized by the presence of large numbers of energy management solution suppliers and service providers. Over the forecast period, Asia Pacific is expected to witness maximum growth, majorly on account of the rapid industrialization and growing desire among consumers to manage electricity consumption.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Energy Management Systems (EMS) market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Type
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Component
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End-use
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
