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ENERGY & POWER

Energy Management System (EMS) Market Segmentation by Type (System, and Service); by End-Users (Oil & Gas, Manufacturing, Building Automation, Energy & Utility, Automotive, Pharmaceutical, and Others); by Software (Building-, Industrial-, and Home-EMS); and by Devices (In-House Display Device, Load Control Switches, Smart Thermostats, and Smart Plugs) - Global Demand Analysis and Opportunity Outlook 2029

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Extensive insights into the Growth of Energy Management System Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Global Energy Management System (EMS) Market Highlights over 2020-2029

The global energy management system (EMS) market is anticipated to grow at a robust CAGR over the forecast period i.e., 2021-2029 owing to the increasing awareness for energy conservation and rising adoption of renewable energy infrastructure. Moreover, rising environmental concerns coupled with the shift from conventional energy sources such as coal, oil and gas among others, towards renewable sources is anticipated to boost the growth of the market. According to the data by the World Bank, renewable energy accounted for 18.054% of the total global energy consumption in 2015. Renewable energy such as solar energy, nuclear energy, wind energy, biogas and geothermal energy is being widely adopted which is expected to generate opportunities for the global energy management system market by the end of 2029. Additionally, energy management systems can save energy considerably in a cost-effective manner, which is estimated to act as a major growth factor for the market.

Global-Energy-Management-System-Market

On the basis of end-users, the market is segmented into oil & gas, manufacturing, building automation, energy & utilities, automotive, pharmaceutical and others. Amongst these segments, the oil & gas segment is estimated to hold a significant market share by the end of 2029, on the back of the stringent government regulations that promotes the adoption of advanced energy management solutions. Moreover, the whole process of oil extraction, refining, liquefaction and transportation consumes large amount of energy, and a considerable share of energy is wasted. As a result, there is a growing need for the application of EMS in the oil and gas industry to elevate energy conservation, which is estimated to boost the growth of the segment throughout the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT

Global Energy Management System Market Regional Synopsis

Regionally, the global energy management system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa.

North America market is anticipated to hold the largest share in the market by the end of 2029 owing to drastically changing energy regulations and increasing investment in sustainable energy in the U.S. For instance, public benefit funds (PBF) for renewable energy are set up and used by the states in USA to invest in clean energy supply for the public. Furthermore, the growing acceptance and utilization of renewable energy among the countries in the North America region, is further estimated to support the market growth. According to the data by OECD, 8% of the total primary energy consumed in USA is derived from renewable energy sources, as of 2019. Moreover, various industry giants are increasingly investing in advanced energy management system to reduce energy wastage, which is foreseen to boost the market growth in the region.

The market in Asia Pacific is estimated to experience the highest CAGR during the forecast period on the back of evolving sustainable energy infrastructure in the region. The growing industrialization in developing countries is projected to increase the demand for smart grids and smart meters to optimize energy utilization, which in turn would drive the market growth in the region. Growing initiatives to promote the use of renewable energy such as subsidies for solar farms in the developing economies is projected to promote market expansion in the Asia Pacific region.

The market in Europe is also expected to experience significant growth by the end of 2029, on account of escalating adoption of smart grids in the region and environmental concerns among the people.

Energy-Management-System-Market

The global energy management system market is further classified on the basis of regions as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global energy management system market includes the following segments:

By Type

  • System
  • Service

By Software

  • Industrial Energy Management System (IEMS)
  • Home Energy Management System (HEMS)
  • Building Energy Management System (BEMS)

By End-Users

  • Manufacturing
  • Oil & Gas
  • Building Automation
  • Energy & Utilities
  • Pharmaceuticals
  • Automotive
  • Others

By Devices

  • In-House Display Device
  • Load Control Switches
  • Smart Thermostats
  • Smart Plugs

Growth Drivers

  • Initiatives to Reduce Energy Wastage and Optimize Energy Utilization
  • Global Shift Towards Renewable Sources and Rising Environmental Concerns
  • Increased Adoption of Smart Grids and Meters

Challenges

  • Slow Government Procedures and Paperwork for Switching to Smart Grid
  • Lack of Awareness Regarding Adoption of Renewable Energy Infrastructure in Developing Countries  

Key Players Dominating the Market

  • Schneider Electric
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Siemens AG
  • C3.ai, Inc.
  • GridPoint, Inc.
  • The General Electric Company
  • Yokogawa Electric Corporation
  • DEXMA Sensors, SL
  • Johnson Controls International plc
  • Honeywell International Inc.
  • Energate, Inc. (Tantalus Systems Corp.)

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