The global energy management systems (EMS) industry was valued at USD 20.49 billion in 2014. Technological advancements coupled with rising commercialization of innovative products are expected to fuel the market growth. Increasing requirements for reliable and consistent information technology (IT) platforms to monitor, control and optimize available energy sources are projected to boost the market growth. The market is anticipated to reach USD 58.59 billion by 2022. Energy management systems are IT-analytical tools used in different integrated platforms and carry out process optimization of individual components to achieve higher efficiency.
Industrial energy management systems (IEMS) captured over 60% of the overall revenue, dominating the market in 2014. Infrastructure development across the globe has accounted for the rising demand from the power & electricity industry. This factor, in turn, has increased the popularity of IEMS which enables fuel consumption optimization and operating cost reduction. IEMS is anticipated to grow at an estimated CAGR of over 13% from 2015 to 2022.
Browse full research report on Global Energy Management Systems (EMS) Market: http://www.grandviewresearch.com/industry-analysis/energy-management-systems-market
BEMS captured over 30% of the global demand in 2014 and is predicted to grow at an estimated CAGR of over 15% from 2015 to 2022 owing to the rising popularity of these systems in IT establishments, hospitals, telecom, business parks and shopping complexes. HEMS is expected to witness significant gains over the next six years owing to the rising spending for construction of green buildings and smart homes to curtail carbon emissions.
Sensors were widely used accounting for over 35% of the EMS component segment. Sensors help in real-time tracking of energy requirement, thereby, improving the efficiency of the energy systems. The industry is likely to grow at a CAGR of 12.5% from 2015 to 2022.
Energy management software accounted for 27.1% of the overall revenue in 2014 and is expected to register growth at a CAGR of 15.6% from 2015 to 2022. They offer solutions to minimize costs and predicting energy requirements.
Power & energy sector dominated the application vertical contributing to over 40% of the market share in 2014. The trend is expected to generate a revenue of over USD 22.50 million by 2022 owing to its increased consumption from various industries including chemicals, oil & gas, power generation, distribution & transmission.
EMS implementation in the healthcare application segment is expected to grow at a CAGR of 15.5% over the forecast period. Growing geriatric population and rising health concerns are some of the factors contributing to the segment growth.
Increasing industrial development and the establishment of factories, business parks, warehouses and shopping malls are contributing to the swift growth of retail & offices application segment, growing at an estimated CAGR of 15% over the forecast period.
Commercial sector was the largest end-use segment accounting for over 95% of the overall revenue in 2014. This trend is anticipated to continue over the forecast period. Increased use in commercial buildings including office spaces, shopping malls, business or IT parks requiring high electricity and power supplies is expected to contribute to growth. However, this segment is supposed to lose its share to the residential sector over the forecast period owing to rising optimized energy requirements in smart homes, societies and residential buildings.
North America accounted for over 40% of the global revenue in 2014, dominating the EMS regional market, owing to the favorable government initiatives by the U.S. EPA, enabling organizations to align and assess the energy performance of their facilities and operations. Government efforts in Europe and the need to reduce power losses in the region have attributed to the EMS market growth, thus generating revenue of USD 6.09 billion in 2014.
Asia-Pacific is the fastest growing regional segment and is expected to witness growth at a CAGR of over 16% over the forecast period. This increase can be attributed to rapid industrialization and favorable initiatives started by governments of the emerging economies of the region.
Key players dominating the market are Honeywell, Elster Energy, Schneider Electric, GridPoint, Inc., General Electric, Johnson Controls and C3 Energy.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the energy management system market on the basis of product, component, vertical, end-use and region:
Global Energy Management Systems (EMS) Product Outlook (Revenue, USD Million, 2012 – 2022)
- Industrial Energy Management System (IEMS)
- Building Energy Management System (BEMS)
- Home Energy Management System (HEMS)
Global Energy Management Systems (EMS) Component Outlook (Revenue, USD Million, 2012 – 2022)
Global Energy Management Systems (EMS) Vertical Outlook (Revenue, USD Million, 2012 – 2022)
- Power & Energy
- Telecom & IT
- Retail & offices
Global Energy Management Systems (EMS) End-Use Outlook (Revenue, USD Million, 2012 – 2022)
Global Energy Management Systems (EMS) Regional Outlook (Revenue, USD Million, 2012 – 2022)
- North America
- Asia Pacific
- Rest of the World (RoW)
Access press release of this research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-energy-management-systems-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Corporate Sales Specialist, USA
Grand View Research, Inc