Tallahassee Journal

Energy Management Systems Market to hit $38bn by 2024

Energy Management Systems Market to hit $38bn by 2024

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.
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

The growing concerns about greenhouse gas emissions along with rapid industrialization will propel energy management system (EMS) market trends over the period of 2016 to 2024. As per the report by Global Market Insights, Inc., “Global Energy management system (EMS) industry will witness an annual growth rate of more than 13% over the coming seven years.” The depleting non-renewable energy sources has threatened the environment sustainability. Governments across various countries are taking vigorous steps towards the use of renewable energy sources and are emphasizing on energy conservation, which will in turn boost the demand for energy management system.

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Energy management system component comprises software, hardware, control system, metering & field equipment, sensors, networking device. Sensors accounted for more than 10% of the overall energy management system market share in 2015 and is anticipated to grow noticeably over the coming years. In 2015, metering & field equipment EMS exceeded a revenue of USD 2 billion. Following usage and application of metering & field equipment will generate heavy revenue over the coming timeframe,

  • To measure total electricity consumption along with consumption pattern and operating cost
  • It balances the total supply with consumption, thereby improving total network efficiency

Furthermore, control EMS industry will surpass a revenue of USD 3 billion by 2024, mainly driven by its capability to maintain essential environment factors such as pressure, temperature, ventilation, and humidity in a cost- effective manner.

                Europe Energy Management System Market size, by component, 2013 – 2024 (USD Billion)

Buildings, industries, and homes are the some of the major service segments of the energy management system market trends. Building energy management system (BEMS) market collected more than 19% of the total industry share in 2015. Some of the factors will impact positively on BEMS industry growth as mentioned below,

  • Increasing demand for smart buildings, owing to the rising awareness about carbon footprints
  • Extensive use of this system in the buildings to control, monitor, and manage energy consumption

Industrial energy management system (IEMS) market surpassed a revenue of USD 9 billion in 2015 and will grow notably over the coming years, owing to its mounting usage to monitor & analyze load fluctuation, real time consumption, and equipment performance.

Home EMS industry size will exhibit an annual growth of more than 16% over the period of 2016 to 2024. The growth can be attributed to government support in terms of financial subsidize to purchase trademark products.

Based on the regional landscape, Japan EMS market share contributed towards 20% of the global revenue in 2015 and is predicted to grow considerably over the coming timeline, due to the rising awareness about GHG emissions coupled with shifting dependency on imported fuel.

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U.S. energy management system industry will exhibit a substantial growth rate of over 11% over the coming seven years, owing to government initiations towards energy conservation across this region. China EMS industry is expected to grow noticeably, surpassing a revenue of USD 2 billion by 2024. The attributing factor towards the regional market growth is surging demand for reliable electricity and escalating industrialization.

As per the study, Europe energy management system market share will surge significantly, mainly contributed by Germany, UK, and Italy. The government initiatives regarding energy efficiency will boost Germany EMS market size over the coming years. UK accounted for more than 20% of the overall regional share in 2015 and will observe substantial growth, driven by the fuel scarcity.

Brazil EMS market worth over USD 300 million in 2015 and is expected to register eye-catching growth, which can be attributed to the growing adoption of smart technologies to conserve energy.

Qatar accounted for over 5% of the total regional revenue of the Middle East energy management system industry in 2015. The growing population and rapid industrialization will affect considerably on the regional growth.

The mounting demand for reliable electricity will generate heavy opportunities for market players over the coming years. Few notable industry participants include General Electric Corp., Honeywell International Inc., Schneider Electric, Eaton Corporation, ABB, Emerson Electric, Siemens AG, and Johnson Controls.

Browse key industry insights spread across 110 pages with 169 market data tables & 10 figures & charts from this 2017 report Energy Management System (EMS) Market in detail along with the table of contents at:

https://www.gminsights.com/industry-analysis/energy-management-system-EMS-market

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

  • IEMS
  • BEMS
  • HEMS

Global Energy Management System Market, By Component

  • Metering and field equipment
  • Hardware
  • Software
  • Networking device
  • Control systems
  • Sensors
  • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
  • Middle East & Africa
    • Saudi Arabia
    • Qatar
    • UAE
    • South Africa
  • South and Central America
    • Brazil
    • Argentina

 

Browse Related Reports:

  • Building Energy Management Systems (BEMS) Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2023

       https://www.gminsights.com/industry-analysis/building-energy-management-systems-bems-market

 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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