Energy Management System Market
Energy Management System Market Forecasts to 2028 – Global Analysis By Deployment (On-Premises, Cloud Based), Component (Hardware, Software, Services), Application (Energy Monitoring, Energy Generation) and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $92.71 BN |
|
Projected Year Value (2028) |
US $288.10 BN |
|
CAGR (2022 - 2028) |
20.8% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Energy Management System Market is accounted for $92.71 billion in 2022 and is expected to reach $288.10 billion by 2028 growing at a CAGR of 20.8% during the forecast period. Energy management systems (EMS) are one of the emerging technologies that enable an organization to collect real-time information on the energy use through monitoring, assessing, and visualizing energy consumption. It is gaining popularity since they help gain competitive advantage, increase productivity, and reduce energy cost. In addition, the government policies toward energy conservation and the limited availability of fossils is drawing attention of the market players.
The industrial sector is the most valuable within the global energy management systems market. In 2020, this sector had a market value of an estimated 4.43 billion U.S. dollars. It is estimated that home energy management IoT will have an economic value of between 80 and 150 billion U.S. dollars by 2025, and is expected to grow to between 130 and 230 billion U.S. dollars by 2030.
Market Dynamics:
Driver:
Existence of various industry guidelines
All the resource-intensive industries utilize significant amount of raw materials, water and energy resources, thus leading to a large amount of solid waste, effluents, and emissions. These industries are often subject to numerous global and local regulations, along with several plant level geography compliance. In order to comply with these stringent regulations, enterprises are adopting energy management solutions and are employing various methodologies, such as product lifecycle assessments, carbon & energy footprint analysis, and devising processes to ensure a sustainable and eco-friendly supply chain, to cater to these requirements. With environmental and energy sustainability becoming a global concern, there is an upsurge in the number of investors, customers, and suppliers who consider energy management system as a key factor in taking decisions about their relationship with manufacturers.
Restraint:
Large initial investments
Energy management systems have a high initial cost of deployment. There is the lack of financial resources as well. These may have a negative impact on the energy management system market during the forecast period.
Opportunity:
Ongoing technological advancements
Continuing technological advancements and favorable incentive programs aimed at driving energy efficiency is set to complement the market outlook. Moreover, growing adoption of smart energy units impelled by availability of economic system pricing will strengthen the product deployment.
Threat:
Structuring of initial data gathered
The initial step towards energy management is the data gathering. This gathered data needs to be structured so as to obtain useful conclusion from it. But the structuring of large amount of data is a great challenge to professionals and hence it is a major threat for the growth of the market.
Covid-19 Impact
COVID-19 has negatively impacted the market growth in the year 2020. Industrial and commercial building energy demand has declined significantly in many countries, accompanied by an increase in residential energy demand. Restricting social distancing has resulted in a sharp drop in the utilization of commercial buildings. However, in 2021, the stabilization of the global economy and the clearance of the roadblocks in industrial manufacturing has resulted in tremendous growth in the EMS market.
The building energy management system (BMS) segment is expected to be the largest during the forecast period
Rising preference toward implementation of energy efficient systems primarily across commercial establishments is forecast to augment the segment growth. Furthermore, increasing focus pertaining to monitoring & analyzing real time energy consumption, load fluctuations and equipment performance is enhancing the system deployment. Ability of these units to significantly reduce the operating costs and ongoing refurbishment activities for building smart establishments is estimated to enhance the market statistics.
The services segment is expected to have the highest CAGR during the forecast period
The increasing adoption of energy management solutions across different market verticals has also fueled the market penetration in the recent years. Rising consciousness towards energy efficiency among residential users is expected to witness attractive growth rate and subsequently provide profitable expansion opportunities for the market players in EMS based services. In addition, the increasing demand of energy efficient solutions in end-user such as enterprise, office spaces, and commercial sites to minimize their daily operational costs through effective energy consumption is also projected to propel the market growth of the building EMS services in the forecast period.
Region with largest share:
North America is projected to hold the largest market share owing to the introduction of energy codes, Minimum Energy Performance Standards (MEPS) and execution of government’s aim to achieve energy intensity targets. In the coming years, the office and commercial buildings segment is expected to witness huge growth in the Energy Management System market due to increasing worldwide demand for energy optimization and carbon management. The customer value proposition includes energy cost savings, wide range of products and services, superior customer service, and global deployment.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR due to the government’s initiative towards improving the manufacturing capabilities through application of smart solutions, rapid urbanization and fast growing industrial segment.
Key players in the market
Some of the key players profiled in the Energy Management System Market include ABB Group, Schneider Electric SE, Siemens AG, Honeywell International Inc., Toshiba Corp., General Electric, Daikin Industries Ltd, Johnson Controls, Inc, International Business Machines Corporation, Emerson Process Management, Elster Group GmbH, Jones Lang LaSalle, GridPoint, Inc, C3 Energy, and Daintree Networks.
Key developments:
In August 2021: Daikin has partnered with Japanese utility company Kansai Electric Power Co to test an energy management system utilising an air conditioning control system and solar power generation.
In June 2021: Honeywell announced its Battery Energy Storage System (BESS) Platform, which integrates Honeywell asset monitoring, distributed energy resource management, supervisory control and analytics functionality to enable organizations to accurately forecast and optimize their overall energy use.
Devices Covered:
• Load Control (LC) Switches
• In-House Display (IHD)
• Smart Thermostats
• Smart Plugs
Types Covered:
• Factory Energy Manament System
• AC Control Energy Management System (EMS)
• Power Control Energy Management System
• Cluster Energy Management System
• Retail Energy Management System
• Building Energy Management System (BMS)
• Ventilation Control Energy Management System
• Heat Control Energy Management System
Solutions Covered:
• Demand Response (DR) Management
• Carbon Energy Management
• Utility Billing and Customer Information System (CIS)
Deployments Covered:
• On-Premises
• Cloud Based
Components Covered:
• Hardware
• Software
• Services
Applications Covered:
• Energy Monitoring
• Energy Generation
• Energy Transmission
End Users Covered:
• Residential
• Healthcare & Pharmaceutical
• Building Automation
• Energy, Power & Utilities
• Automotive
• Manufacturing
• Telecom & Information Technology (IT)
• Oil & Gas
• Office and Commercial Buildings
• Municipal, University, Schools and Hospital (MUSH)
• Enterprise
• Public Places
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Energy Management System Market, By Device
5.1 Introduction
5.2 Load Control (LC) Switches
5.3 In-House Display (IHD)
5.4 Smart Thermostats
5.5 Smart Plugs
6 Global Energy Management System Market, By Type
6.1 Introduction
6.2 Factory Energy Manament System
6.3 AC Control Energy Management System (EMS)
6.4 Power Control Energy Management System
6.5 Cluster Energy Management System
6.6 Retail Energy Management System
6.7 Building Energy Management System (BMS)
6.8 Ventilation Control Energy Management System
6.9 Heat Control Energy Management System
7 Global Energy Management System Market, By Solution
7.1 Introduction
7.2 Demand Response (DR) Management
7.3 Carbon Energy Management
7.4 Utility Billing and Customer Information System (CIS)
8 Global Energy Management System Market, By Deployment
8.1 Introduction
8.2 On-Premises
8.3 Cloud Based
9 Global Energy Management System Market, By Component
9.1 Introduction
9.2 Hardware
9.2.1 Control System
9.2.2 Communication Networks
9.2.3 Sensor
9.2.4 Display Device
9.2.5 Batteries
9.2.6 Networking Device
9.2.7 Field Equipment
9.2.8 Controller
9.2.9 Metering
9.3 Software
9.3.1 Utility Energy Management System (EMS)
9.3.2 Residential/Home Energy Management System (EMS)
9.3.3 Enterprise Energy Carbon and Energy Management
9.3.4 Industrial Energy Management System (EMS)
9.3.5 Other Softwares
9.3.5.1 Energy Trading & Risk Management
9.3.5.2 Energy Modeling
9.3.5.3 Information and Communication Technology (ICT) Power Management
9.4 Services
9.4.1 Consulting & Training
9.4.2 Program Services
9.4.3 Implementation & Integration
9.4.4 Monitoring & Control
9.4.5 Installation
9.4.6 Technical Services
9.4.7 Analysis Services
9.4.8 Maintenance
10 Global Energy Management System Market, By Application
10.1 Introduction
10.2 Energy Monitoring
10.3 Energy Generation
10.4 Energy Transmission
11 Global Energy Management System Market, By End User
11.1 Introduction
11.2 Residential
11.3 Healthcare & Pharmaceutical
11.4 Building Automation
11.5 Energy, Power & Utilities
11.6 Automotive
11.7 Manufacturing
11.8 Telecom & Information Technology (IT)
11.9 Oil & Gas
11.10 Office and Commercial Buildings
11.11 Municipal, University, Schools and Hospital (MUSH)
11.12 Enterprise
11.13 Public Places
11.14 Other End Users
11.14.1 Government
11.14.2 Food & Beverages
11.14.3 Retail
11.14.4 Education
12 Global Energy Management System Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa
13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies
14 Company Profiling
14.1 ABB Group
14.2 Schneider Electric SE
14.3 Siemens AG
14.4 Honeywell International Inc.
14.5 Toshiba Corp.
14.6 General Electric
14.7 Daikin Industries Ltd
14.8 Johnson Controls, Inc
14.9 International Business Machines Corporation
14.10 Emerson Process Management
14.11 Elster Group GmbH
14.12 Jones Lang LaSalle
14.13 GridPoint, Inc
14.14 C3 Energy
14.15 Daintree Networks
List of Tables
1 Global Energy Management System Market Outlook, By Region (2020-2028) ($MN)
2 Global Energy Management System Market Outlook, By Device (2020-2028) ($MN)
3 Global Energy Management System Market Outlook, By Load Control (LC) Switches (2020-2028) ($MN)
4 Global Energy Management System Market Outlook, By In-House Display (IHD) (2020-2028) ($MN)
5 Global Energy Management System Market Outlook, By Smart Thermostats (2020-2028) ($MN)
6 Global Energy Management System Market Outlook, By Smart Plugs (2020-2028) ($MN)
7 Global Energy Management System Market Outlook, By Type (2020-2028) ($MN)
8 Global Energy Management System Market Outlook, By Factory Energy Manament System (2020-2028) ($MN)
9 Global Energy Management System Market Outlook, By AC Control Energy Management System (EMS) (2020-2028) ($MN)
10 Global Energy Management System Market Outlook, By Power Control Energy Management System (2020-2028) ($MN)
11 Global Energy Management System Market Outlook, By Cluster Energy Management System (2020-2028) ($MN)
12 Global Energy Management System Market Outlook, By Retail Energy Management System (2020-2028) ($MN)
13 Global Energy Management System Market Outlook, By Building Energy Management System (BMS) (2020-2028) ($MN)
14 Global Energy Management System Market Outlook, By Ventilation Control Energy Management System (2020-2028) ($MN)
15 Global Energy Management System Market Outlook, By Heat Control Energy Management System (2020-2028) ($MN)
16 Global Energy Management System Market Outlook, By Solution (2020-2028) ($MN)
17 Global Energy Management System Market Outlook, By Demand Response (DR) Management (2020-2028) ($MN)
18 Global Energy Management System Market Outlook, By Carbon Energy Management (2020-2028) ($MN)
19 Global Energy Management System Market Outlook, By Utility Billing and Customer Information System (CIS) (2020-2028) ($MN)
20 Global Energy Management System Market Outlook, By Deployment (2020-2028) ($MN)
21 Global Energy Management System Market Outlook, By On-Premises (2020-2028) ($MN)
22 Global Energy Management System Market Outlook, By Cloud Based (2020-2028) ($MN)
23 Global Energy Management System Market Outlook, By Component (2020-2028) ($MN)
24 Global Energy Management System Market Outlook, By Hardware (2020-2028) ($MN)
25 Global Energy Management System Market Outlook, By Control System (2020-2028) ($MN)
26 Global Energy Management System Market Outlook, By Communication Networks (2020-2028) ($MN)
27 Global Energy Management System Market Outlook, By Sensor (2020-2028) ($MN)
28 Global Energy Management System Market Outlook, By Display Device (2020-2028) ($MN)
29 Global Energy Management System Market Outlook, By Batteries (2020-2028) ($MN)
30 Global Energy Management System Market Outlook, By Networking Device (2020-2028) ($MN)
31 Global Energy Management System Market Outlook, By Field Equipment (2020-2028) ($MN)
32 Global Energy Management System Market Outlook, By Controller (2020-2028) ($MN)
33 Global Energy Management System Market Outlook, By Metering (2020-2028) ($MN)
34 Global Energy Management System Market Outlook, By Software (2020-2028) ($MN)
35 Global Energy Management System Market Outlook, By Utility Energy Management System (EMS) (2020-2028) ($MN)
36 Global Energy Management System Market Outlook, By Residential/Home Energy Management System (EMS) (2020-2028) ($MN)
37 Global Energy Management System Market Outlook, By Enterprise Energy Carbon and Energy Management (2020-2028) ($MN)
38 Global Energy Management System Market Outlook, By Industrial Energy Management System (EMS) (2020-2028) ($MN)
39 Global Energy Management System Market Outlook, By Other Softwares (2020-2028) ($MN)
40 Global Energy Management System Market Outlook, By Services (2020-2028) ($MN)
41 Global Energy Management System Market Outlook, By Consulting & Training (2020-2028) ($MN)
42 Global Energy Management System Market Outlook, By Program Services (2020-2028) ($MN)
43 Global Energy Management System Market Outlook, By Implementation & Integration (2020-2028) ($MN)
44 Global Energy Management System Market Outlook, By Monitoring & Control (2020-2028) ($MN)
45 Global Energy Management System Market Outlook, By Installation (2020-2028) ($MN)
46 Global Energy Management System Market Outlook, By Technical Services (2020-2028) ($MN)
47 Global Energy Management System Market Outlook, By Analysis Services (2020-2028) ($MN)
48 Global Energy Management System Market Outlook, By Maintenance (2020-2028) ($MN)
49 Global Energy Management System Market Outlook, By Application (2020-2028) ($MN)
50 Global Energy Management System Market Outlook, By Energy Monitoring (2020-2028) ($MN)
51 Global Energy Management System Market Outlook, By Energy Generation (2020-2028) ($MN)
52 Global Energy Management System Market Outlook, By Energy Transmission (2020-2028) ($MN)
53 Global Energy Management System Market Outlook, By End User (2020-2028) ($MN)
54 Global Energy Management System Market Outlook, By Residential (2020-2028) ($MN)
55 Global Energy Management System Market Outlook, By Healthcare & Pharmaceutical (2020-2028) ($MN)
56 Global Energy Management System Market Outlook, By Building Automation (2020-2028) ($MN)
57 Global Energy Management System Market Outlook, By Energy, Power & Utilities (2020-2028) ($MN)
58 Global Energy Management System Market Outlook, By Automotive (2020-2028) ($MN)
59 Global Energy Management System Market Outlook, By Manufacturing (2020-2028) ($MN)
60 Global Energy Management System Market Outlook, By Telecom & Information Technology (IT) (2020-2028) ($MN)
61 Global Energy Management System Market Outlook, By Oil & Gas (2020-2028) ($MN)
62 Global Energy Management System Market Outlook, By Office and Commercial Buildings (2020-2028) ($MN)
63 Global Energy Management System Market Outlook, By Municipal, University, Schools and Hospital (MUSH) (2020-2028) ($MN)
64 Global Energy Management System Market Outlook, By Enterprise (2020-2028) ($MN)
65 Global Energy Management System Market Outlook, By Public Places (2020-2028) ($MN)
66 Global Energy Management System Market Outlook, By Other End Users (2020-2028) ($MN)
67 Global Energy Management System Market Outlook, By Government (2020-2028) ($MN)
68 Global Energy Management System Market Outlook, By Food & Beverages (2020-2028) ($MN)
69 Global Energy Management System Market Outlook, By Retail (2020-2028) ($MN)
70 Global Energy Management System Market Outlook, By Education (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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