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Industry Trends
Energy Management System (EMS) Market size exceeded USD 28 billion in 2019 and is anticipated to grow at over 9% CAGR through 2026. Rising utilization of smart building & home energy systems coupled with presence of highly competitive market scenario resulting in economical product pricing are boosting the industry growth.
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Introduction of stringent government policies focused at reducing the overall carbon footprint with growing demand for conservation of energy is projected to stimulate the system implementation. 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.
The unfortunate outbreak of the Novel Coronavirus (COVID-19) had ceased majority of the industry operations across all affected economies due to implementation of nation-wide lockdowns and curfews. The market experienced downfall in the pandemic time.
| Report Coverage | Details |
|---|---|
| Base Year: | 2019 |
| Market Size in 2019: | 28.1 Billion (USD) |
| Forecast Period: | 2020 to 2026 |
| Forecast Period 2020 to 2026 CAGR: | 9.8% |
| 2026 Value Projection: | 45.7 Billion (USD) |
| Historical Data for: | 2015 to 2019 |
| No. of Pages: | 308 |
| Tables, Charts & Figures: | 414 |
| Segments covered: | Service, Component, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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However, the advent of industrial revolution 4.0 and technical product upgradations and booming IT sector has led to rapid rise in automation across industrial and commercial applications. Additionally, surging necessity to counterbalance the peak demand predominantly across residential sector is likely to positively influence the market demand.
Increasing adoption of building energy codes
Building energy management system market surpassed USD 9 billion in 2019. 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.
Home EMS is poised to achieve substantial demand through 2026 owing to escalating electricity consumption along with their ability to facilitate stable power supply. For instance, as per IEA in 2019, if current energy policy scenario continues, the global energy consumption is set to increase by 1.3% every year to 2040.
Upgradations of home electricity units and growing investments toward wireless technology facilitating end user to remotely control their power consumption will complement the market landscape. Moreover, easy setup, interoperability and user-friendly interface are some of the salient features encouraging the system adoption.
Sensor components to witness prominent growth
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Sensors component segment is expected to observe substantial growth through 2026 in consequence of their ability to make better informed decisions coupled with timely detection of problems relating to power quality. IoT enabled devices combined with big data and machine learning data collection and processing methods have favored the recognition of smart homes across down-stream power grid. Furthermore, replacement of outdated technologies and expensive devices to hi-tech units is slated to spur the market expansion.
Energy management system market from hardware segment generated around USD 2 billion revenue in 2019. Escalating demand for building automation fueled by occupant comfort, diminishing operating costs, efficient operations and elongated life span of utilities will strengthen the product deployment. These systems accumulate data locally and then pass the appropriate information to the dashboard thereby allowing the end user to analyze the live data. However, the ability to respond to the supplier's signals with a demand response is positively impacting the industry statistics.
Surging needs to monitor electrical units across power & energy applications
Power & Energy application is predicted to see increased adoption propelled by rising urgency to monitor the electrical units. The ability to register higher gains owing to growing demand to monitor and optimize electrical equipment is poised to foster the market revenue.
Regional Insights
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The U.S. energy management system market size is forecast to observe exponential demand through 2026 due to favorable government policies toward digitization of electricity transmission and distribution infrastructure. Introduction of energy codes, Minimum Energy Performance Standards (MEPS) and execution of government’s aim to achieve energy intensity targets will further support the market growth.
Germany, UK and France accounted for around 40% of the European market share in 2019. France is likely to expand significantly through 2026 led by increasing adoption of energy efficiency standards and escalating utilization of renewable energy sources. For instance, in September 2020, France issued over USD 8 billion (EUR 7 billion) for promoting energy efficiency in establishments comprising educational institutes, private buildings, police stations and town halls.
Competitive Market Share
The EMS industry is observing active participation from global firms along with rising incursion of regional players. Product differentiation, robust marketing strategies, brand recognition and economies of scale are few tactical practices that leading companies are adopting in order to reinforce their market share while mitigating the business risks.
Eminent energy management system market players include Schneider Electric, Emerson, Telkonet, Dexma Sensors, Gridpoint, ABB, Rockwell Automation, Optimum Energy, General Electric, Mitsubishi Heavy Industries, Skyfoundry, Honeywell International, eSight Energy, Toshiba, Powerhouse Dynamics, Eaton, Siemens, IBM and Johnsons Controls amongst others.
This market research report on energy management system (EMS) includes in-depth coverage of the industry with estimates & forecast in terms of USD from 2015 to 2026, for the following segments:
Market, By Service
- IEMS
- BEMS
- HEMS
Market, By Component
- Metering & Field Equipment
- Hardware
- Software
- Networking Device
- Control Systems
- Sensors
- Others
Market, By End Use
- Power and Energy
- IT
- Manufacturing
- Enterprise
- Healthcare
- Others
The above information has been provided for the following regions and country:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- Finland
- Russia
- Netherlands
- Poland
- Turkey
- Asia Pacific
- China
- Japan
- South Korea
- India
- Indonesia
- Singapore
- Malaysia
- Philippines
- Thailand
- Australia
- Vietnam
- Middle East & Africa
- Saudi Arabia
- Qatar
- UAE
- South Africa
- Iran
- Latin America
- Brazil
- Argentina
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