According to research report "Energy Management System Market by Software (Utility, Industrial, Residential, ECEM), Device (In-House Display, Smart Thermostat, Smart Plug, and Load Control Switches), Application, Solution, Vertical - Global Forecast to 2021", The EMS market size is expected to grow from USD 32.41 Billion in 2016 to USD 76.75 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 18.8% during 2016–2021.
Browse and in-depth TOC on "Energy Management System (EMS) Market - Global Forecast to 2021"
70 - Tables
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154 - Pages
The major drivers for the upsurge in demand for EMS technology are mandatory regulations and policies, energy incentive programs, increasing concern for reducing carbon footprints, smart grid technology adoption, digitization of energy infrastructure, and need for centralized gird distribution management and control.
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Utility EMS software estimated to dominate the EMS software market share during the forecast period”
The utility segment is estimated to have the largest market share among EMS software. The emergence of cloud platform, declining cost of IoT components, regional government initiatives for smart grid roll-out, necessity of operational efficiency for utilities are driving the demand for utility EMS software across the globe. However, adopting the utility software is still a challenge in some regions due to poor infrastructure and cyber threats. Lack of technological awareness and apprehensions regarding privacy & security have raised a number of concerns for the retailers, thereby hindering the adoption of smart solution in the utility industry.
Increasing consumer’s interest in efficient energy management and increasing need to improvise the utility sector are driving the growth of home energy management system application
According to MarketsandMarkets analysis, although today the Home Energy Management System (HEMS) market shows slow Year-Over-Year (Y-o-Y)growth potential, the market will most likely achieve a winning imperative towards the end of the forecast period as new and more efficient technological solutions will be introduced in the market. Moreover, the winning imperatives will be more beneficial for vendors that offer open architecture and user-friendly products. The increasing energy demand, price volatility, government mandates, and increased spending over EMS are considered as the influential growth drivers for the HEMS market.
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North America is the leading region in terms of market share in the EMS market space
North America is expected to hold the largest market share and dominate the smart grid market from 2016 to 2021. The government has been actively involved with the energy efficiency and management standards for the residential sector, while the public and investor-owned utilities are also considering reducing the energy cost and consumption as a major priority factor in their management strategies. This has pushed the residential energy management market toward the growth phase.
The leading players in this market are ABB Group, Cisco Systems, Inc., General Electric Company, Honeywell International, IBM Corporation, Schneider Electric SE, Siemens AG, CA Technologies, Eaton Corporation, and Emerson Electric Company.
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Energy Management System Market Size What is Energy Management?“Energy management" is concerned with several meanings, but it is mainly concerned with saving energy in businesses, public-sector or government organizations, as well as homes.
Generally, this involves some of the following steps:FREE PDF@ https://www.marketresearchfuture.com/sample_request/2808Metering the consumption of energy and collecting the data.Finding opportunities to save energy and estimating how much energy could be savedTaking action concerning the opportunities to save energy that is related to tackling the routine waste and replacing or upgrading the inefficient equipment.Able to track the progress by analyzing meter data to witness the energy-saving efforts has worked.
Building energy management systems, therefore, has become an essential tool to help manage and control the energy needs of a building.Buildings consume a strange amount of energy primarily because of the emergence of a 24/7 society.
In the current environment, most buildings and machines run on a 24/7 cycle where power consumption is continuous.
Whether it is lighting in the heating, homes, offices, operating data centers with many servers, there are continually consuming energy in all facets of life.Based on a report released by the Market Research Future from Environmental Protection Agency, commercial buildings consume 20% of the total energy that is generated in the US.
When business and residential are combined together, they employ around 70% of the total energy produced in the US.
Moreover, this market report also covers regional and country market in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the industrial energy management system market include Cisco Systems, Inc., Emerson Electric Company General Electric Company, Schneider Electric Se, Siemens Ag, ASEA Brown Boveri (ABB) Ltd., Eaton Corporation Plc, Enernoc, Inc., Honeywell International, Inc., Rockwell Automation.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers& acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Industrial Energy Management System Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/industrial-energy-monitoring-software-market/download-sampleMarket DynamicsThe global market for industrial energy management is foreseen to flourish in the future.
The enhanced inclinations of industries and governments towards attaining energy efficiency is a significant parameter driving the market.
However, high initial investments and delayed payback structure may inhibit the growth of Industrial Energy Management System market.The increased demands for energy-efficient solutions in end-use sectorsand residential purposes are also anticipated to surge the overall Industrial Energy Management System market growth.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis.
