Global energy management systems market to reach USD 70.93 billion in 2022, growing at a CAGR of 12.4% during 2017 and 2022.
The study covers forecast and analysis for the energy management system market on a global and regional level. The study provides historic data of 2015 along with a forecast from 2016 to 2022 based on revenue (USD billion). The study includes drivers and restraints for the market with the impact they have on the demand over the forecast period. In addition, the report comprises the study of market opportunities available in the energy management system market worldwide.
In order to give the users of this report a complete view of the energy management system market, we have incorporated a comprehensive competitive scenario, buying criteria and product portfolio of key players. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model has also been included. The study also includes a market attractiveness analysis based on their market size, growth rate, and general attractiveness.
The report provides a significant view on the energy management system market by segmenting the market based on software and region. Based on various software the market is divided into utility EMS software, industrial EMS software, enterprise energy management software, residential software and others. All the segments have been analyzed based on present and future trends and the market is estimated from 2016 to 2022.
The report covers detailed competitive outlook including company profiles of the key participants operating in the global market. The key players of energy management system market include Cisco Systems, Inc., ABB Ltd, Emerson Process Management, General Electric Company, Honeywell International, Inc., International Business Machine Corporation, Schneider Electric SE, Siemens AG, CA Technologies and Eaton Corporation PLC among others.
The report segments global energy management systems market as follows:
Global Energy Management Systems Market: Software Segment Analysis
Global Energy Management Systems Market: Regional Segment Analysis
This report is based on in-depth qualitative and quantitative analyses of the global Energy Management Systems market. Zion Research has collected and analyzed key data belong to the global Energy Management Systems market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Energy Management Systems across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Energy Management Systems industry. Primary research makes up the major source of data collection and validation.
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Energy Management Systems market.
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
Energy management system (EMS) is a system of computer-aided tools used by operators of electric utility grids to monitor, control, and optimize the performance of the generation and transmission asset in real time.Energy management system plays the key role in helping the businesses, industries, and individuals to become more energy efficient. In addition, this system will help them to lower the electricity expenses considerably. Factors like the rising in energy crisis and growth in industries in emerging economies help to impel demand of energy management system.
The key factors which are mainly driving the energy management system market is escalating energy consumption and price volatility. Furthermore, increasing awareness in industrial sectors for the efficient utilization of energy consumption is also fueling the growth of this market. In addition, stringent government policies and guidelines or government intervention over misuse of energy consumption spurs the growth of this market. However, lack of financial resources for new entrant enterprises serve as a major restraining factor which hampers the growth of energy management system market. A long period of return on investment for energy-intensive industries is the poising challenge to the growth of energy management system market.Nonetheless, upcoming smart city project in developing countries and technological advancement such as integration of energy management system with smart devices are offering new avenues to this market.
Energy management system is segmented on the basis of utility EMS software, industrial EMS software, enterprise energy management software, residential EMS and others. Utility EMS software is projected to dominate energy management system market over the forecast period. Due to the high penetration of cloud services, declining cost of IoT components, regional government initiatives for smart grid roll-out are driving the demand for utility EMS software on the global scale. However, adopting the utility EMS software is still a challenge in some regions due to poor infrastructure and cyber attacks. Lack of technological awareness regarding privacy & security has raised a number of concerns for the retailers which is hindering the adoption of energy management system solution in the utility industry.
North America held the largest share in energy management system and expected to dominate this market over the forecast period. The government of North America has been actively involved with the energy efficiency management standards for the residential sector.This has pushed the residential energy management market toward the energy management system. Asia Pacific is anticipated to show the fastest growth for energy management system due to the larger population and booming industrial sector, especially in China.
Key market player of the energy management system market is ABB Ltd, Cisco Systems, Inc., General Electric Company, Honeywell International, Inc., International Business Machine Corporation, Schneider Electric SE, Siemens AG, Emerson Process Management, CA Technologies, and Eaton Corporation PLC among others.