Worldwide Latest Market Research Report on “Global Energy Management Systems Market – Segmented by Type of Energy (HEMS, BEMS), Components (Hardware, Software, Services), Industry Vertical and Geography – Growth, Trends and Forecasts (2018 – 2023) 2019-2023”
The Global Energy Management Systems market with CAGR of 19.01% 2019-2023. The report begins from overview of Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Energy Management Systems by product, region, and application, in addition, this report introduces market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.
Competitor Analysis: by product types, market share, applications, sales, and revenue.
- IBM Corporation
- Rockwell Automation Inc.
- Siemens AG
- Schneider Electric Co.
- Cisco Systems
- Eaton Corporation
- Honeywell International Inc.
- CA Technologies
- SAP and General Electric Co. Other players include Tendril
- Utilities Direct
- EnergyCAP
- EnerNOC Inc.
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Overview of Energy Management Systems Market:
The global energy management systems market was valued at USD 37.26 billion in 2017 and is projected to reach a value of USD 105.86 billion by 2023, at a CAGR of 19.01% over the forecast period, 2018-2023. The scope of the report is limited to solutions offered by major players, including providers of hardware, software, and services. While the regions considered in the scope of the report include North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The study also emphasizes on the measures adopted by the industries in the market toward energy management.
Owing to the increasing use of smart grid services, growing competition among industrial enterprises, and supporting government policies and incentives associated with energy efficiency, the market is expected to witness considerable growth in the future. Currently, the world faces the problem of energy security and inefficient access to electricity because of which various initiatives are being taken to effectively manage the energy sources. Due to the increasing environmental concerns regarding extinction of conventional energy sources, it is necessary to shift toward the use of renewable energy sources. These concerns call for efficient energy management, which has prompted many countries to generate electricity through renewable sources. China emerged as the leader in the installed renewable energy capacity industry in 2016, with a combined capacity of 545.21 gigawatt. However, lack of skilled personnel challenges the market from growing exponentially.
Increasing Usage of Smart Grids Will Drive the Market Growth
In an increasingly complex world, fazed by a robust energy demand and aging electricity infrastructure, the implementation of a smart grid is crucial in making worldwide energy supply more reliable, energy-efficient, and sustainable as it monitors, measures, and manages the transport of electricity. Further, smart grids are an essential element for expanding the use of some technologies, such as electric vehicles and renewable energy sources, such as wind energy, geothermal power, and solar heat and power. Moreover, the combination of power grids with 5G technology will offer growth opportunities to the market. The companies are examining use cases of the emerging 5G technology in the power grid, as part of the 5Grid project in Berlin, for studying the impact of 5G on the energy sector. The smart grid projects are increasingly being funded by the governments, to develop a sustainable solution for the growing energy demands across the globe. For instance, in the United States, companies, like Honeywell, General Electric, Trilliant Networks, and Itron, have received funding between USD 60 and 300 million. Thus, the smart grid expenditure in the country has consistently increased over the past four years, a trend which is expected to continue over the forecast period.
Manufacturing Industry Will Account for a Significant Share
The manufacturing centers have equipment installed that run continuously, critical to the plant operations. The industries are making efforts to optimize their carbon footprint by using energy management systems. The companies are under pressure to implement energy management systems because of the strict regulations regarding the control of environmental emissions. The customers in the market are also growing sensitive to the products they use, and changing preferences toward eco-friendly products, which is also expected to encourage the growth of the energy management systems in the industry. Energy management systems are present in the market for specific needs of the manufacturing industry that will help them either use less energy or not emit harmful gases into the environment. With the electricity prices increasing worldwide, the companies have started implementing these systems to gain a better control over energy use and spend.
North America is Expected to Lead the Market with the Largest Share
North American market will be driven by the increasing number of smart buildings, green infrastructure, rising energy demands, and adoption of EMS across various verticals, such as manufacturing, energy & power, and construction, primarily in the United States and Canada. North America is a huge manufacturing hub, and the usage of energy increases, especially in sectors, like steel manufacturing, paper, automotive, and chemical. Moreover, an increase in the usage of EMS is expected because of the increasing regulations and policies enforced by the U.S. DOE and related agencies in North America. Because of stringent norms by DOE in the U.S., more companies are expected to start using EMS to reduce emissions. With the electricity rates increasing in the region, the companies will start using these systems to produce their electricity to power their manufacturing centers.
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Reasons to Purchase this Report
The Global demand for Energy Management Systems Market is forecast to report strong development driven by consumption in major evolving markets. More growth opportunities to come up between 2019 and 2025 compared to a few years ago, signifying the rapid pace of change.
Global Energy Management Systems Market highlights the following key factors:
- A complete informative analysis of Energy Management Systems industry, which includes a valuation of the parental market.
- Emerging trends by sections and regional markets.
- Major developments in market dynamics & market overview.
- Energy Management Systems Market shares and methods of key players in the Energy Management Systems market.
- Current and predictable size of Energy Management Systems market from the outlook of both value and volume.
- Reporting and estimation of recent industry developments.
- References to companies for establishment their position in the Energy Management Systems market.
Energy Management Systems Market report passes on a fundamental overview of the Market including its definition, applications, and advancement. Furthermore, the Industry report investigates the ecumenical Major Energy Management Systems Market players in detail. Energy Management Systems Market report gives key bits of Cautiousness and subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry.
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Key Features of the Energy Management Systems Market Report:
- Energy Management Systems Market insights and finger analysis will help take knowledgeable decision in the changing competitive dynamics.
- To build up a far-reaching, verifiable, every year refreshed and financially perceptive data dependent on execution, capacities, objectives, and systems of the world is driving organizations.
- To help current providers reasonably evaluate their money related, advertising and innovative capacities opposite driving contenders.
- To supplement associations internal competing data gathering endeavors by giving vital investigation, information understanding, and knowledge.
- Five-year forecast measure would give a clear understanding of future growth.
- Investigation of upcoming and past market information will help in organizing an outline of current business strategies.
- Comprehensive information of market players will help understand consumer demands and market scope.
- Development opportunities and forecast buyer requests will evoke the collection of revenue.
- A comprehensive analysis of the changing competitive dynamics will keep you ahead of the competitors.
- The fresh proficient elements such as industry production study, revise product-launching events, growth and risk factors will help in the forecast feasibility analysis.
- To distinguish the slightest focused market specialties with huge development potential.
The growth of this market worldwide is subjected to various factors; including consumer world-class Energy Management Systems Market of many Energy Management Systems Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.
In conclusion, Energy Management Systems Market report presents the descriptive analysis of the parent market based on elite players, present, past and futuristic data that will serve as a profitable guide for all the Energy Management Systems Market competitors.
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