Global Energy Management Systems Market is segmented By Services (Monitoring and Control, Implementation and Integration, Maintenance, Consulting, and Training), By Application (Building EMS, Home EMS, Industrial EMS), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024 - 2031
Energy Management Systems Market Overview
Global Energy Management Systems market is estimated to grow at a CAGR of 13.58% during the forecast period 2024-2031.
Factors such as increased investments in smart cities globally and the modernization of aging infrastructure will further result in double-digit growth in the global market over the forecast period.
The report covers all the major trends and drivers playing a vital role in the growth of the global Energy Management Systems Market. The global Energy Management Systems Market has been segmented based on region, services, and application.
Energy Management Systems Market Summary
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Metrics |
Details |
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Market CAGR |
13.58% |
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Segments Covered |
By Services, By Application, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Energy Management Systems Market Growth Trends
The global Energy Management Systems Market growth is primarily driven by the growing need for rapid advancements in technology for efficient energy procurement and energy usage. Therefore, helping in gaining a competitive advantage and increasing productivity at a reduced energy cost. Moreover, strict government mandates and regulations to reduce carbon footprint along with increasing demand for electricity will stimulate product installation.
In addition, one of the key drivers of increasing global electricity demand is urbanization. The tremendous growth in urbanization, especially in developing countries like India, China, and Brazil where new buildings in urban areas will increase electricity consumption, especially through demand for air conditioning and ventilation in such hot and tropical environments. According to the National Bureau of Statistics China in 2018, the commercial building space sold in the region increased from 157 million sq. meters in 2016 to 169.407 million sq. meters in 2017 and the residential buildings increased from 137.58 million sq. meters in 2016 to 144.788 million square meters in 2017, and these expected consistently during the forecast period.
With rising urbanization and industrialization in developing, end-user will require Energy management systems. EMS helps to build owners monitor and control various systems in the building such as heating, cooling, elevator, and lighting, among others efficiently. Therefore, reducing energy consumption and saving money for the end-users. Growing awareness about the benefits of EMS among end-users coupled with rapid urbanization will further boost the market over the forecast period.
Energy Management Systems Market Segmentation Analysis
Based on services, the global Energy Management Systems Market can be classified into Monitoring & Control, Implementation & Integration, Maintenance, and Consulting & Training. In 2018, the Monitoring & Control segment accounted for the majority share of the market and was expected to retain its dominant position over the forecast period. However, the consulting and training segment is expected to post the highest CAGR during the forecast period. Moreover, enhancing the long-term benefits of energy efficiencies, especially in emerging economies such as Southeast Asian and African regions are anticipated to drive the market growth of consulting & training-related services.
Based on application, the global Energy Management Systems Market can be classified into Building EMS, Home EMS, and Industrial EMS. In 2018, Building EMS accounted for the major share of the market. EMS helps office spaces and other commercial buildings for the reduction of their operating costs. In addition, a growing focus on monitoring and controlling load fluctuation, and equipment performance coupled with rapid urbanization is expected to drive the segment growth over the forecast period.
Global Energy Management Systems Market Geographical Share
By geography, the global Energy Management Systems Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
In 2018, North America accounted for the majority share of the market. 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 energy costs and consumption as a major priority factor in their management strategies. In addition, rapid infrastructural development in the region will play a pivotal role in the growth of the global EMS market. For instance, In Mexico, the government plans to open SEZs across the country to promote economic growth in the region which will further increase the demand for EMS. The government expects to attract investments from various sectors, including processing, agribusiness, oil and gas, manufacturing, technological innovation and development, and logistics during the forecast period. Accordingly, the government has identified 95 potential projects with investments worth more than US$5 billion that could be developed in these SEZs by 2020.
APAC is expected to post a higher CAGR over the forecast period. The growth in the industry is mainly due to rapid industrialization, highly flourishing residential and commercial building sectors, and growing middle-class population and spending power coupled with rising awareness for EMS, which leads to the increasing demand for EMS in the region. Besides, India and China are the two most populated countries in the world and have been witnessing rapid urbanization. Construction in these countries is at an all-time high because the majority of the population moving to urban areas. This shift will require more residential and commercial building construction, therefore, fueling growth in the EMS market in the region.
Energy Management Systems Market Companies
Global Energy Management Systems Market is moderately fragmented with the presence of global and regional players in the market. The market players in the Energy Management Systems Market are focusing on expanding through strategic interventions, such as acquisitions, and collaborations in the Energy Management Systems Market.
Some major players in the market are ABB Group, Cisco Systems, Inc., General Electric Company, Honeywell International, IBM Corporation, Schneider Electric SE, Siemens AG, CA Technologies, Eaton Corporation, Emerson Electric Company, and others.
In 2018, GE Power Grid Solutions, along with Tata Power Delhi Distribution (Tata Power-DDL), announced it has launched an Advanced Distribution Management System (ADMS) to modernize and enhance the area’s grid.
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Target Audience
- Equipment Suppliers/ Buyers
- Service Providers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
- Manufacturers and Industry Association
