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
Introduction: Marine mining is otherwise called remote ocean mining is alluded to as mineral recovery process that happens on the marine floor. Marine mining is a moderately new mineral recovery process that occurs in the sea. In addition, sea mining destinations are ordinarily around extensive regions of polymetallic knobs or dynamic and wiped out aqueous vents at 1,400 to 3,700 m
Introduction: Solid state transformer (SST), on the other hand, known as "smart transformer," is an amalgamation of powerful semiconductor segments, control hardware, and customary high-recurrence transformers. The savvy transformers are utilized to give extra adaptability to control power conveyance systems, along these lines encouraging the smooth change of AC to DC and DC to AC,
Introduction Hydro turbine is the electro-mechanical device used to generate electricity in hydropower generation projects. Hydro turbines transfer power to a rotating electricity generation shaft from moving water. The turbines rotate or turn as a reaction to the water in their blades. In the area of hydro power (the water power generation process), hydro turbines are essential. T
Introduction The worldwide energy storage systems market’s size is anticipated reach 211,823 MW by 2026 and the market is expected to display a CAGR of 2.2% during the estimated years. The market is driven by surge in the demand for the smart home across the world. Market Dynamics
Introduction The global instrument transformer Market is projected worth US$ 7,830.6 million by 2026 and the market is projected to showcase 7.9% CAGR during the forecast period. The instrument transformer market is driven by an increase in adoption of smart monitoring devices to offer energy efficient energy solutions.
Introduction The global unconventional gas market’s value is expected to touch USD 258 billion by 2026 and the market is likely to grow with a CAGR of 9.2 % during the forthcoming years. Market Dynamics The government of the U.S. has been advancing demands in investigat