An energy management system is usually a collection of computer-aided tools used by operators of electric facilities to monitor, control, and optimize the performance of the generation and/or transmission system. Different computer aided tools are implemented from short time control modules to scheduling or commitment of power production units on a day/week basis. EMS has the objective of maximizing system performances by monitoring and controlling functions, which require a centralized system of data collection and a decision-making procedure.
Energy management systems have gained popularity since they help gain competitive advantage, increase productivity, and reduce energy cost. In addition, the government policies toward energy conservation & the limited availability of fossils have drawn attention of the corporate. Every industry small or big runs with the help of energy, so it is essential to deploy energy management system. Although technology has advanced at a brisk pace, the end-use clients may not be adopting the same as quickly. Most of the potential buyers of energy management systems are at a stage where they are aware about the benefits of implementing such system, however preferably utilizing traditional technology and applications. Financial barriers, limited expertise, and fragmented stakeholders are some of the key challenges for the energy management system market.
The global energy management system market is segmented on the basis of component, end user, type, application, and region. The component segment is bifurcated into solution and service. By end user, the market is segmented into energy and utilities, IT and telecom, manufacturing, retail, healthcare, and others. Furthermore, on the basis of type, the market is categorized into home energy management systems, building energy management systems, and industrial energy management systems. By application, the market is broadly classified into residential and commercial. In addition, to gain further diverse insight, the market is analyzed across major regions, namely, North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in the energy management system market are C3, Inc., Delta electronics, Inc., Dexma, General Electric company, Gridpoint, Honeywell international Inc., Johnson controls international plc, Schneider Electric S.E, Siemens and Yokogawa electric corporation.
Energy management systems have gained popularity since they help gain competitive advantage, increase productivity, and reduce energy cost. In addition, the government policies toward energy conservation & the limited availability of fossils have drawn attention of the corporate. Every industry small or big runs with the help of energy, so it is essential to deploy energy management system. Although technology has advanced at a brisk pace, the end-use clients may not be adopting the same as quickly. Most of the potential buyers of energy management systems are at a stage where they are aware about the benefits of implementing such system, however preferably utilizing traditional technology and applications. Financial barriers, limited expertise, and fragmented stakeholders are some of the key challenges for the energy management system market.
The global energy management system market is segmented on the basis of component, end user, type, application, and region. The component segment is bifurcated into solution and service. By end user, the market is segmented into energy and utilities, IT and telecom, manufacturing, retail, healthcare, and others. Furthermore, on the basis of type, the market is categorized into home energy management systems, building energy management systems, and industrial energy management systems. By application, the market is broadly classified into residential and commercial. In addition, to gain further diverse insight, the market is analyzed across major regions, namely, North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in the energy management system market are C3, Inc., Delta electronics, Inc., Dexma, General Electric company, Gridpoint, Honeywell international Inc., Johnson controls international plc, Schneider Electric S.E, Siemens and Yokogawa electric corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the energy management systems market forecast, current trends, estimations, and dynamics of the energy management systems market analysis from 2020 to 2030 to identify the prevailing energy management systems market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the energy management systems market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global energy management systems market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Component
- Solution
- Service
By End User
- Energy and Utilities
- IT and Telecom
- Manufacturing
- Retail
- Healthcare
- Others
By Type
- Home Energy Management Systems
- Building Energy Management Systems
- Industrial Energy Management Systems
By Application
- Residential
- Commercial
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Siemens AG
- yokogawa electric corporation
- C3 energy
- Delta electronics
- Dexma
- General electric company
- Gridpoint Systems
- Honeywell International Inc.
- Johnson controls international plc
- Schneider Electric
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ENERGY MANAGEMENT SYSTEMS MARKET, BY COMPONENT
CHAPTER 5: ENERGY MANAGEMENT SYSTEMS MARKET, BY END USER
CHAPTER 6: ENERGY MANAGEMENT SYSTEMS MARKET, BY TYPE
CHAPTER 7: ENERGY MANAGEMENT SYSTEMS MARKET, BY APPLICATION
CHAPTER 8: ENERGY MANAGEMENT SYSTEMS MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Energy Management Systems Market,' the energy management systems market size was valued at $36.2 billion in 2020, and is estimated to reach $161.9 billion by 2030, growing at a CAGR of 16.2% from 2021 to 2030.Energy management system has enabled organizations gather data by monitoring, analyzing, and visualizing energy use. In addition, energy efficiency, energy price volatility & policy, and regulatory obligations are the primary drivers of the energy management system industry. However, financial difficulties, a long payback time, and hidden costs are some of the drawbacks associated with its commercial appeal. Furthermore, the key factors that drive the growth of the energy management system market include rise in inclination toward energy efficiencies and energy price volatility. Moreover, factors such as policy as well as regulatory mandate and incentive program positively impact the growth of the market. However, high cost of initial investment, longer payback period, and hidden costs are expected to hamper the market growth. On the contrary, emerging economies are expected to offer remunerative opportunities for expansion of the market during the forecast period.
In terms of application, the commercial segment holds the largest energy management systems market share, owing to rising energy costs and government policies that incentivizes businesses to lower their carbon footprint. However, the residential segment is expected to grow at the highest rate during the forecast period owing to growing awareness regarding the benefits of efficient energy management solutions in everyday use.
Region wise, the energy management system market was dominated by Asia-Pacific in 2020 and is anticipated to grow at a significant rate during the forecast period due to the growing demand for efficient energy management system applications in commercial and residential buildings in the region, which is anticipated to result in significant demand for energy efficiency solutions.
With the outbreak of COVID-19, the demand for energy management systems increased in residential areas due to the announcement of quarantines and work from home policy, while the industrial energy demand slumped significantly during the first quarter of 2020. Moreover, according to the CEO of Wind Europe, due to the COVID-19 pandemic, the company is expected to witness delays in new wind farm projects, which can cause developers to miss the deployment deadlines in countries, auction systems and as a result, face financial penalties. Furthermore, in order to tackle climate change and increase energy efficiency, the European Union set itself a target to ensure that 80% of EU consumers use smart meters by the end of 2020. Therefore, growth in concern regarding energy deficiency and stability has impacted the market growth during the lockdown
Key findings of the Study
- By component, the solution segment accounted for the largest energy management systems market share in 2020.
- By region, Asia-Pacific generated highest revenue in 2020.
- By type, the industrial energy management systems segment generated the highest revenue in 2020.
Companies Mentioned
- Siemens AG
- yokogawa electric corporation
- C3 energy
- Delta electronics
- Dexma
- General electric company
- Gridpoint Systems
- Honeywell International Inc.
- Johnson controls international plc
- Schneider Electric
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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