The new report by Expert Market Research titled, ‘Global Energy Management Systems Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global energy management systems market, assessing the market based on its segments like types, components, solutions, services, industries, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Forecast CAGR (2022-2027): 14%
The rapid advancements in technology and favourable government policies are driving the market growth of the energy management systems. The market is further bolstered by the growing focus on issues such as maximising the use of renewable energy sources, managing energy usage, and lowering carbon footprint and greenhouse gas emissions, all of which are driving up the demand for energy management systems. The market is also expanding due to the rising demand for energy management systems from various end-use industries. Moreover, numerous governments are modernising their power networks, which is projected to raise demand for energy management systems in the forecast period.
Industry Definition and Major Segments
An energy management system refers to a set-up of computer-aided tools that are used by operators of electric utility grids to monitor, control, and optimise the performance of the generation or transmission system. They also optimise the energy use of electronic devices, such as fans, HVAC, and pumps, among others, and are used in commercial and industrial activities.
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By type, the market is divided into:
- Home EMS
- Building EMS
- Industrial EMS
On the basis of component, the market is divided into:
- Display Devices
The major solutions of energy management systems are:
- Demand Response Management
- Carbon Energy Management
- Utility Billing and Customer Information System
By services, the market is divided into:
- Monitoring and Control
- Implementation and Integration
- Consulting and Training
The market, on the basis of industry, is categorised into:
- Power and Energy
- Telecom and IT
The regional markets for the product include:
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
The increasing use of smart grids, stringent government rules to preserve energy, and technical advancements that help gather and monitor data usage are propelling the market growth. The industry is growing due to the increased usage of smart grids and smart metres in both developed and developing countries. With rising energy consumption and ageing power infrastructure, governments around the world are focusing on energy grid modernisation through smart grid technologies. In addition, several countries are embarking on a modernisation campaign to update their electrical grids. As a result, demand for energy efficiency solutions is increasing, and the market for energy management systems is expanding.
Key Market Players
The major players in the market are Mitsubishi Electric Corporation, Delta Electronics, Inc., General Electric Company, Schneider Electric SE, ABB Ltd., and Honeywell International Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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