Energy Management System Market Size worth $43bn by 2024

Energy Management System market size is set to reach USD 43 billion by 2024, as reported in the latest study by Global Market Insights, Inc.
 

Growing focus toward conservation of energy, rising demand for electricity accompanied by strict regulations and mandates to reduce the GHG emissions will drive the energy management system market growth. Rapid industrialization coupled with greater investments on the construction activities is set to foster the business landscape. For instance, China, in 2017, spent around 30% of the total country investment toward overall infrastructural development.

 

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Shifting focus toward the changing climatic conditions encouraging the adoption of sustainable systems is set to positively impact the market share. The energy insufficiency along with supply and demand mismatch will boost the requirement for energy efficiency devices. For instance, the World Economic Forum in 2017, stated that majorly 68% of the energy being produced in the U.S. was wasted on account of various inefficiencies.
 

Energy Management System Market

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Rising concerns pertaining to reducing the carbon footprint combined with stringency in government regulations will stimulate the market landscape. For instance, in 2018, 179 countries backed the Paris Climate agreement aiming to limit the global carbon dioxide emissions. In addition, major economies including the U.S. and UK have sanctioned budgets to comply with emissions regulations that will positively affect the product installation.
 

BEMS market is anticipated to grow owing to increasing demand in residential, commercial and industrial sectors. Rapid industrialization combined with rising infrastructure development including smart buildings is anticipated to encourage the business growth. An upsurge in the investments for smart building measures including system integration and building controls at a faster pace compared to the traditional energy efficiency patterns.
 

Browse key industry insights spread across 299 pages with 367 market data tables & 42 figures & charts from the report, “Energy Management System Market Size By Service (IEMS, BEMS, HEMS), By Component (Metering and Field, Hardware, Software, Networking Device, Control Systems, Sensors), By End-User (Power and Energy, IT, Manufacturing, Enterprise, Healthcare) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Netherlands, Poland, Turkey, China, Japan, South Korea, India, Indonesia, Singapore, Malaysia, Philippines, Thailand, Vietnam, Saudi Arabia, Qatar, UAE, South Africa, Iran, Brazil, Argentina), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/energy-management-system-EMS-market
 

Healthcare application segment by 2024, is projected to exceed USD 3 billion on account of development of strategic cost reduction programs aiming at reduced energy costs along with greater awareness toward sustainable environment. Increasing cost pressure pertaining to competitive environment and industry restructuring will positively impact the product installation.
 

Australia is one of the major solar energy consumers across Asia Pacific. The solar industry is anticipated to witness a rapid growth owing to growing demand for roof installation of solar panels. According to the Clean Energy Council, 6.2% of Australia’s electricity in 2018 was generated by renewable sources and solar power contributed a significant percentage to this. In addition, technological advancements coupled with favourable government initiatives into energy procurement and usage thereby fueling the energy management system market adoption.
 

Key industry players for the market include Schneider Electric, General Electric, Eaton Corporation, Honeywell International, ABB, Siemens AG, IBM, Cisco Systems, CA Technology Emerson Electric Corporation and Johnson Controls among others.
 

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The energy management system industry research report includes in-depth coverage of the industry with estimates & forecast in terms of USD from 2016 to 2024, for the following segments:

By Service

  • IEMS
  • BEMS
  • HEMS

By Component

  • Metering & field equipment
  • Hardware
  • Software
  • Networking Device
  • Control Systems
  • Sensors
  • Others

By Application

  • Power & Energy
  • IT
  • Manufacturing
  • Enterprise
  • Healthcare
  • Others

The above information has been provided for the following countries:

  • U.S. 
  • Canada 
  • Germany 
  • UK 
  • France 
  • Italy
  • Spain
  • China 
  • Japan 
  • South Korea
  • India 
  • Indonesia
  • Saudi Arabia 
  • Qatar
  • UAE 
  • South Africa 
  • Brazil 
  • Argentina

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