Energy Management System (EMS) Market Size By Component (Metering And Field Equipment, Hardware, Software, Networking Device, Control Systems, Sensors), By Service (IEMS, BEMS, HEMS), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, China, Japan, South Korea, India, Indonesia, Saudi Arabia, Qatar, UAE, South Africa, Brazil, Argentina), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024
Published Date: January 2017 | 110 Pages | Report ID: GMI1115 Report Format: PDF
(EMS) Energy Management System Market size was valued at over USD 12 billion in 2015 and is forecast to grow at over 13% from 2016 to 2024.
Europe Energy Management System Market size, by component, 2013 - 2024 (USD Billion)
Government measures to encourage energy conservation with rising awareness towards climatic changes will drive the global energy management system market size. In 2015, the Government of the U.S. introduced the Resident Energy Efficiency Valuation Act (REEVA), with an aim to reduce the energy wastage and help the residential sector to achieve the optimize efficiency. Strict regulation to reduce greenhouse gas emissions is anticipated to drive the energy management system market size by 2024. Europe has introduced Directive 2003/87/EC, with an aim to reduce greenhouse gas emission by 20% by 2020.
Rapid industrialization with growing construction spending among emerging economies is anticipated to drive the energy management system market share during the forecast period. In 2015, China announced USD 260 billion investment towards infrastructural development which may positively affect the industry growth.
Industrial energy management system market size was valued over USD 9 billion in 2015 and is predicted to witness a substantial growth by 2024. It can be used to analyze and monitor real time consumption, load fluctuation and equipment performance. These systems help to attain efficiency, sustainability, cost savings, and emission targets while sustaining the optimal production processes.
Building energy management system market share accounted over 19% of the total revenue in 2015. This system helps to control, manage and monitor overall power consumption of integrated devices used in the buildings. Growing concerns towards carbon footprints with rising demand for smart buildings will positive influence the business growth. Home energy management system market share is set to grow over 16% from 2016 to 2024. Government initiatives to encourage the adoption of star rating products at subsidized price will boost the business growth.
Energy management system market size from metering and field equipment was valued over USD 2 billion in 2015 and is expected to witness a substantial growth during the forecast period. It improves overall network efficiency by balancing the total supply with consumption. Smart meters not only calculate total electricity consumption but also analyze the consumption pattern and associated costs. Control energy management system market size will exceed USD 3 billion by 2024. These systems help to maintain a suitable building environment in a cost-effective manner with four variables which include humidity, temperature, pressure and ventilation. Sensors accounted for over 10% of the global energy management share in 2015 and is expected to witness a substantial gain during the forecast period.
U.S. energy management system market share is expected to witness substantial gains over 11% subject to government measures towards energy conservation. Rising fuel prices with growing awareness among consumers to reduce the emissions will further boost the business.
For Europe EMS market size, UK contributed over 20% of regional revenue share in 2015. Aging infrastructure, a legacy of fossil fuel and rising fuel poverty are some of the factors which may positively encourage the industry growth. Germany was valued at over USD 1 billion in 2015 and is predicted to witness a considerable growth subject to government initiatives towards energy efficiency.
Japan energy management system market share attributed to over 20% of regional revenue share in 2015. Government measures to reduce their dependency on imported fuel coupled with growing concern towards greenhouse gas emissions will complement the industry growth.
China EMS market is anticipated to exceed USD 2 billion by 2024. Rapid industrialization with growing demand for reliable electricity in the region will positively affect the business growth. Brazil energy management system market size was over USD 300 million in 2015.Rising social responsibility towards climate change coupled with growing investment in smart technologies to reduce the energy loss is likely to favor industry growth.
Competitive Market Share
Some of the key industry participants include GENERAL ELECTRIC, Schneider Electric, Honeywell International, Eaton Corporation, Siemens AG, ABB, Cisco Systems, IBM, Emerson Electric Corporation, CA Technology, Johnson Controls.
Increasing demand for reliable electricity coupled with fuel price fluctuation will positively influence the energy management system market size during the forecast period. However, high initial investment may act as a restraint doe market participants.
EMS is used to control, monitor and optimize the performance of generation, transmission and distribution system by operators of electric utilities. These are primarily used in in large facilities, buildings, industries, and commercial application to reduce the overall fuel consumption by monitoring, controlling, and calculating the use of HVAC, lighting, thermostats, machinery and other equipment. It provides supervisory control, analytics and data acquisition including, tagging, alarm/events, data historians, control sequences, data links, and load shed applications which are further used to monitor and operate the available network.
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