Energy Management System Market size worth over $38bn by 2024
Published Date: January 23, 2017 Author: Global Market Insights, Inc.
Energy Management System Market size is set to exceed USD 38 billion by 2024, according to new research report by Global Market Insights, Inc.
Introduction of strict building codes and standards by regional government to encourage energy conservation will positively influence the energy management system market size from 2016 to 2024. In the U.S., standard 90.1 has been adopted to provides minimum requirements for energy efficient commercial building construction and design. Canada has adopted ISO 50001 to provide structured framework to organization towards energy efficiency. It also helps to reduce energy cost and other adverse environmental impacts.
Geopolitical measures to reduce the reduce emissions, with growing demand for clean and reliable power will propel energy management system market share. EU has introduced Energy Performance of Buildings (EPBD 2002/91/EC) directive with the prime objective to promote cost effective improvement to enhance the overall building efficiency. Regional government is also planning to convert the existing and new buildings into zero energy from 2020. These measures to curb the carbon footprints is predicted to drive the energy management system market.
Germany energy management system market share contributed over 25% of regional revenue share in 2015. The government has introduced various programs including National Action Plan on Energy Efficiency, to encourage investment in energy efficient products & building and innovative industrial processes. The authorities have also provided SMEs subsidy of up to 30% for improving manufacturing process efficiency by upgrading equipment and technologies. The country has target to reduce 20% of its energy consumption by 2020.
Browse key industry insights spread across 110 pages with 169 market data tables & 10 figures & charts from the report, “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” in detail along with the table of contents:
Energy management system market share from control systems contributed 5% of global revenue share in 2015. Implementation can lower energy consumption by up to 15%, by providing you with the tools to make your lighting systems, HVAC, and plant equipment electricity use more efficient.
Global BEMS industry revenue share was more than 25% for 2015. Building codes and standards for residential and commercial structures will stimulate business. U.S. energy management system market size for 2015 was valued over 4 billion. Rising adoption of internet of things, smart meters to optimize, control and monitor the energy consumption will positively impact the business landscape.
The Italian government has introduced the Energy Efficiency Certificate trading scheme that targets energy service company entities and Conto Termico, which primarily focusses on building sector. Revised government schemes to raise the bar of energy efficiency saving is expected to stimulate the energy management system market share. In 2016, energy saving goal increased over 40% (USD 9.61 million).
For Middle East energy management system market size, Qatar accounted for over 5% of regional revenue share in 2015. Rapid industrialization coupled with growing population are some of factor responsible for business growth from 2016 to 2024.
Some of the key players in the energy management system market include Schneider Electric, Eaton Corporation, ABB, IBM, CA Technology, GENERAL ELECTRIC, Honeywell International, Siemens AG, Cisco Systems, Johnson Controls, and Emerson Electric Corporation.
Energy management system market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2013 to 2024, for the following segments:
Global Energy Management System Market, By Service
Global Energy Management System Market, By Component
- Metering and field equipment
- Networking device
- Control systems
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Middle East & Africa
- Saudi Arabia
- South Africa
- South and Central America