An energy management system refers to the system of computer-assisted software that is used by electric utility grid operators for monitoring, supervising and optimizing the performance of generation or transmission system. Energy management systems are the developing technologies that allow an organization to gather real-time information regarding energy through monitoring, evaluating and visualizing energy consumption. This also helps in making data driven decisions and to improve enterprise-level financial and operational decisions. Industries across the globe are making strong efforts to reduce carbon footprint and are investing heavily to enhance energy management services.
Some of the key drivers for upsurge in energy management system technology include compulsory policies and regulations by government, energy incentive programs, adoption of smart grid technology, rising concerns towards the level of carbon emissions, rising need for centralized grid distribution management & control and digitalization of energy infrastructure. The energy management system is witnessing high adoption due to its ability to enhance productivity and decrease energy cost. Also, it is anticipated that the end-users will heavily invest in energy management systems in coming years thus, driving the market growth. In addition, companies are majorly focusing on renewable sources of energy thus, bolstering the market for energy management systems, globally.
For any manufacturing plant, cost of energy and cost of raw materials is considered as two largest as well as variable expenses hence, energy consumption by these industries is the key expense that has the need to be managed on priority. Thus, the need for company to use energy management systems for scheduling a process with the use of advanced equipment and system help in reducing the amount of money spent on energy. However, lack of standardization, inadequate skilled & specialized workforce, high initial investment and long duration for return on investment are the factors hampering the market growth.
The global energy management systems market is bifurcated by software, application, device, solution, vertical and geography. The software segment includes utility energy management system (EMS), enterprise carbon & energy management system (ECEM), industrial energy management system (IEMS), residential energy management system and others. The application segment is classified into building energy management and home energy management system. On the basis of device, the market is analysed into smart thermostats, in-house display, load control switches and smart plugs. By solution, the market is bifurcated into carbon management system, utility billing & customer information system and demand response management. By vertical, the market is segmented into power & energy, manufacturing, telecom & IT, office & commercial buildings and municipal, school, university and hospital system. Geographically, the market is bifurcated as Asia-Pacific, North America, Europe, Middle East & Africa and Latin America.
North America is analyzed to lead the market for energy management systems owing to the active involvement of government regarding management standards and energy efficiency for residential sector as well as public sector. The energy management systems are witnessing high adoption due to its ability to enhance productivity and decrease energy cost. However, Asia-Pacific is analyzed to witness continuous growth due to development of industries and increasing concern towards energy-efficiency.
Energy Management Systems (EMS) Market
2015 – 2025
2015 – 2016
2018 – 2025
Software, Application, Device, Solution, Vertical, Geography
North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)
Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,
Player Profiling, Value Chain Analysis
ABB Ltd., General Electric Company, International Business Machine Corporation, Siemens AG, CA Technologies, Cisco Systems, Inc., Honeywell International, Inc., Emerson Process Management, Schneider Electric SE and Eaton Corporation PLC are some of the chief industry players operating in the energy management systems market.
Market By Software
· Utility energy management system (EMS)
· Enterprise carbon & energy management system (ECEM)
· Industrial energy management system (IEMS)
· Residential energy management system
Market By Application
· Building energy management
· Home energy management system
Market By Device
· Smart thermostats
· In-house display
· Load control switches
· Smart plugs
Market By Solution
· Carbon management system
· Utility billing & customer information system
· Demand response management
Market By Vertical
· Power & energy
· Telecom & IT
· Office & commercial buildings and municipal
· School, university and hospital system
Market By Geography
· North America
o Rest of Europe
o Rest of Asia-Pacific
· Latin America
o Rest of Latin America
· Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o Rest of MEA