According to a new report by Allied Market Research – Energy Management Systems Market (components, type, vertical, end-user and geography): Size, share, global trends, company profiles, demand, insights, analysis, research, report, opportunities, segmentation and forecast, 2013-2020 – the global energy management system (EMS) market is expected to reach $44.4 billion by 2020, registering a aompund annual growth rate (CAGR) of 13.75 % for 2014-2020.
The building energy management system (BEMS) is expected to grow swiftly and would drive the market significantly by 2020
In certain economies like Europe, government provides support and subsidies to encourage the adoption of home energy management systems (HEMS), hence its demand is expected grow, thereby contributing to the total market size.
Among all types of EMS, including HEMS, BEMS, and industrial energy management systems (IEMS), the adoption of BEMS is expected to increase rapidly due to its varied application in verticals namely, healthcare, telecom and IT, educational institutions and universities and commercial building like shopping malls and offices.
Presently, IEMS is the largest revenue generating segment of the EMS market and would continue to be the same by 2020, given its high product, installation and maintenance cost.
The incorporation of big data and analytics has opened the scope of technological advancements in the better management and allocation of energy, transforming the market, and is expected to be a crucial component of EMS in the coming years.
Key points
Key findings of the study: The global market for EMS would grow due to increased adoption across key sectors such as power and energy, manufacturing, telecomms and IT, healthcare and commercial enterprises during 2014-2020
IEMS would grow at the fastest CAGR during 2014-2020, contributing over half the total market revenue by 2020
The need for energy efficiency and government regulations would continue to drive the global EMS market over the analysis period
Rapid growth is expected in the BEMS market, as the implementation of smart technologies and new business models by the existing as well as emerging participants, is prevalent
Asia-Pacific is forecast to be one of the most lucrative markets, in terms of growth, given the economy is evolving rapidly
The market growth is attributed to innovation in energy management and monitoring, along with rising demand from manufacturing sector, power and energy and enterprises.
To gain a higher market share, in addition to production launches, the companies are adopting acquisition and partnership as key strategies.
Companies such as Schneider, GridPoint and Elster have collaborated with different industry experts to get access to the market as well as each other's technologies. Prominent companies profiled in the report include Schneider Electric, Siemens AG, Honeywell International, Elster Energy, Johnson controls, Gridpoint, C3 Energy and GE.
https://www.alliedmarketresearch.com/energy-management-systems-market
