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Energy Management System Market 2020 - Analysis Growth Opportunities, Trends, Forecast to 2024

Author : Ronak Bora | Published Date : 2020-09-11 

Growing electricity demand will further complement the energy management system market. Indonesian energy demand is anticipated to grow on account of increasing social and economic development and rising population. With an aim to meet the increasing electricity demand, the country targets to raise power capacity to 137 GW by 2025 compared with 55.5 GW by 2015.

Qatar contributed over 5% of Middle East & Africa energy management system market share in 2015. Growing population coupled with rapid industrialization are the factors responsible for industry growth from 2016 to 2024.

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Germany was valued over 25% of Europe energy management system market share in 2015. The German government has unveiled several programs including National Action Plan on Energy Efficiency, to promote investment in energy efficient building & products and innovative industrial operations. The authorities have also offered SMEs subsidy of at least 30% to improve the efficiency of manufacturing process by upgrading technologies and equipment. The country targets to cut its energy consumption to 20% by 2020.

Global Energy management system market will witness an annual growth rate of more than 13% over the coming seven years. The depleting non-renewable energy sources has threatened the environment sustainability. Governments across various countries are taking vigorous steps towards the use of renewable energy sources and are emphasizing on energy conservation, which will in turn boost the demand for energy management system.

Energy management system component comprises software, hardware, control system, metering & field equipment, sensors, networking device. Sensors accounted for more than 10% of the overall energy management system market share in 2015 and is anticipated to grow noticeably over the coming years. In 2015, metering & field equipment EMS exceeded a revenue of USD 2 billion. Following usage and application of metering & field equipment will generate heavy revenue over the coming timeframe,

  • To measure total electricity consumption along with consumption pattern and operating cost
  • It balances the total supply with consumption, thereby improving total network efficiency

Furthermore, control EMS industry will surpass a revenue of USD 3 billion by 2024, mainly driven by its capability to maintain essential environment factors such as pressure, temperature, ventilation, and humidity in a cost- effective manner.

Buildings, industries, and homes are the some of the major service segments of the energy management system market trends. Building energy management system (BEMS) market collected more than 19% of the total industry share in 2015. Some of the factors will impact positively on BEMS industry growth as mentioned below,

  • Increasing demand for smart buildings, owing to the rising awareness about carbon footprints
  • Extensive use of this system in the buildings to control, monitor, and manage energy consumption

Industrial energy management system (IEMS) market surpassed a revenue of USD 9 billion in 2015 and will grow notably over the coming years, owing to its mounting usage to monitor & analyze load fluctuation, real time consumption, and equipment performance.

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Global BEMS energy management system market share contributed over 19% in 2015. Building standards and codes for commercial and residential structures will propel the business growth. The U.S. market accounted for over 4 billion in 2015. Increasing adoption of smart meters to optimize, monitor and control the energy consumption will stimulate the business growth. The regional government initiatives for smart grid roll-out, emergence of cloud platform, requirement of operational efficiency for utilities and reducing cost of IoT components will positively impact the demand of the system across the globe.

Major participants in energy management system market are Schneider Electric, ABB, IBM, CA Technology, Honeywell, GENERAL ELECTRIC, Siemens AG, Eaton, Cisco Systems, Johnson Controls, and Emerson Electric.

Table of Contents (ToC) of the report:

Chapter 5    Energy Management System Market, By Component

5.1    Energy management system industry share by component, 2017 & 2024

5.2    Metering & field equipment

5.2.1    Global market from metering & field equipment, 2013 – 2024

5.2.2    Global market from metering & field equipment, by region, 2013 - 2024

5.3    Hardware

5.3.1    Global market from hardware, 2013 – 2024

5.3.2    Global market from hardware, by region, 2013 - 2024

5.4    Software

5.4.1    Global market from software, 2013 – 2024

5.5    Networking device

5.5.1    Global market from networking device, 2013 – 2024

5.6    Control systems

5.6.1    Global market from control systems, 2013 – 2024

5.7    Sensors

5.7.1    Global market from sensors, 2013 – 2024

5.8    Others

5.8.1    Global market from others, 2013 – 2024

Chapter 6    Energy Management System Market, By End-Use

6.1    Energy management system industry share by end-use, 2017 & 2024

6.2    Power and energy

6.2.1    Global market from power and energy, 2013 – 2024

6.2.2    Global market from power and energy, by region, 2013 - 2024

6.3    IT

6.3.1    Global market from IT, 2013 – 2024

6.3.2    Global market from IT, by region, 2013 - 2024

6.4    Manufacturing

6.4.1    Global market from manufacturing, 2013 – 2024

6.5    Enterprise

6.5.1    Global market from enterprise, 2013 – 2024

6.6    Healthcare

6.6.1    Global market from healthcare, 2013 – 2024

6.7    Others

6.7.1    Global market from others, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/energy-management-system-EMS-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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