Energy management system is a combination of
computer-aided tools, which consists of software and hardware control systems
designed to monitor or manage energy consumption and usage in buildings. Its
main aim to optimize the whole energy consumption process in buildings, reduce
utility costs and improve the utilization of electrical system and. It includes
power, security systems and fire.
According to study, “Global
Energy management system Market Size study, by device (Smart thermostats,
In-house display , load control switches and smart plugs) Software (Industrial
energy management system, Utility Energy management system , Residential energy
management system , Enterprise carbon and energy management and others)
Application (Building Energy Management system and home energy management
system) Vertical (Telecom and IT, Power & Energy, Manufacturing, Office and
commercial building and Municipal, University, school and hospital system)
Solution (demand response management , carbon management system and utility
billing and customer information system) and Regional Forecasts 2018-2025” the
key companies operating in the global energy management system market are
Siemens AG, General Electric Company, International Business Machine
Corporation, Emerson Electric Company, Tendrill Networks Inc., Asea Brown
Boveri (ABB) Ltd., Cisco Systems, Inc., Schneider Electric SE, CA Technologies,
Honeywell International, Inc., Eaton Corporation PLC,
Based on components, energy management system
market is segmented into display devices, software, controllers, sensors,
batteries and others. Based on devices, market is segmented into in-house
display, smart thermostats, smart plugs and load control switches. Based on
product type, market is segmented into Building Energy Management Systems
(BEMS), Industrial Energy Management Systems (IEMS), Home Energy Management
Systems (HEMS) and others. Based on solution, market is segmented into demand
response management, carbon energy management and utility billing &
customer information system. Based on services, market is segmented into
consulting & training, monitoring & control, maintenance and
implementation & integration. Based on end-use industry, market is
segmented into healthcare industry, office & commercial building, telecom
& IT industry, enterprise industry, manufacturing industry, power &
energy industry and others.
The energy management system market is driven
by rise in demand for energy efficiency, followed by growth in adoption of
Internet of Things (IoT), rise in policy as well as regulatory mandate &
incentive program and cloud-based platforms, rapid developments in the wireless
sensor network platform & cloud computing, increase in price volatility and
growth in installation of renewable in industry. However, high cost of initial
investment & longer payback period and risk to data security may impact the
market. Moreover, growth in oil & gas sector, rise in offshore support
vessels and increase in distributed power generation are key opportunities for
market.
Based on geography, the North-American region
dominates the energy management system market owing to high adoption of energy
management system in various verticals including retail & manufacturing in
the region. Whereas, Asian-Pacific region is estimated to exhibit highest
growth rate due to rapid urbanization and favorable government initiatives in
terms of tax incentives & rebates to promote the deployment of energy
management system over the forecast period. In upcoming years, it is predicted
that future of the market will be bright as a result of rise in modernization
of aging infrastructure along with smart cities projects during the forecast
period. It is expected that the market will be reached at US $152.8 billion by
2025.
For more information, click on the
link below:
Contact Us:
Ken Research
Ankur Gupta, Head Marketing &
Communications
+91
9015378249