DUBLIN--(BUSINESS WIRE)--The "Energy Management Systems Market - Growth, Trends, Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The global energy management system market was valued at USD 8.48 billion in 2019, and it is forecasted to reach a value of USD 17.38 billion by 2025, reflecting a CAGR of 16.2% during the period 2020 - 2025.
The increasing focus towards issues, such as managing energy consumption, optimizing the use for renewable energy sources, reducing carbon footprint and greenhouse gas emissions, is creating demands for EMS. Further, cloud services effectively minimize operational costs of software development and maintenance and also direct the monetary costs, cost of time, and spent resources on maintaining the in-house IT professionals and infrastructure on gathering, storing, and analyzing energy data. Cloud services are an ongoing trend for market growth.
The increasing usage of smart grids and smart meters drives the market. With the increasing energy demand and aging electricity infrastructure, governments across the world are increasingly moving towards modernization of energy grids by adopting smart grid solutions. Various governments undertaking modernization drive to upgrade their power grid is driving the demand for energy efficiency solutions in the space. For instance, the Missouri Public Service Commission has made a utility investment of USD 6.3 billion for grid modernization, which is being taken up by Ameren, and the company has finished about 900 projects as of February 2020.
Companies Mentioned
- IBM Corporation
- Rockwell Automation Inc.
- General Electric Co.
- Schneider Electric SE
- Cisco Systems Inc.
- Tendril Networks Inc.
- Eaton Corporation
- EnerNOC Inc.
- Elster Group GMBH
- SAP SE
- Siemens AG
- Honeywell International Inc.
Key Market Trends
HEMS (Home EMS) to Hold the Significant Growth
- With the rapid improvements in technologies like network communication, smart grid, bidirectional communication medium's, information infrastructures, energy conservation methodologies and various techniques, Home area networks (HANs) have encountered a revolutionary change about multiple areas of power consumption domains like energy conservation at consumption premises, electricity usage patterns, etc.
- Due to the increasing concern about the efficient use of energy, there is an expanding focus on installing energy-saving devices in households across the world. Energy management systems are cost-effective, primarily all residential buildings, regardless of national energy prices, usage, and climatic factors, are increasingly being adopted in homes.
Europe Accounts for Significant Share
- Europe accounts to hold a significant share in the market. A country such as the United Kingdom remains one of the forerunners in terms of adoption, aided by favorable energy policies and regulations targeted at reducing the country's carbon footprint through smart meter rollouts, energy-efficient buildings, and Systems among others.
- The country has a clear rollout strategy, led by the Department of Energy and Industrial policy. According to the National Audit Office (NAO), the UK is set to complete the installation process of smart meters by 2020. Over 12.5 million smart meters have been installed in the UK by the end of 2018. Additionally, due to a high population density and high connectivity, the country has a favorable cost-benefit analysis, further adding to the growth.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.3 Industry Value Chain Analysis
4.4 Introduction to Market Drivers and Restraints
4.5 Market Drivers
4.5.1 Increasing Usage of Smart Grids and Smart Meters
4.5.2 Rising Investments in Energy Efficiency
4.6 Market Restraints
4.6.1 High Initial Installation Costs Coupled with Maintenance Costs
4.7 Assessment of Impact of Covid-19 on the Industry
5 MARKET SEGMENTATION
5.1 Type of EMS
5.1.1 BEMS
5.1.2 IEMS
5.1.3 HEMS
5.2 End User
5.2.1 Manufacturing
5.2.2 Power and Energy
5.2.3 IT and Telecommunication
5.2.4 Healthcare
5.2.5 Other End Users
5.3 Application
5.3.1 Energy Generation
5.3.2 Energy Transmission
5.3.3 Energy Monitoring
5.4 Component
5.4.1 Hardware
5.4.2 Software
5.4.3 Services
5.5 Geography
5.5.1 North America
5.5.2 Europe
5.5.3 Asia-Pacific
5.5.4 Latin America
5.5.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/gzmth4
