Energy Management Systems Market by Component, Type (Home Energy Management Systems, Building Energy Management Systems, Industrial Energy Management Systems), Deployment, End-User Industry and Region - Global Forecast to 2027
[249 Pages Report] The global energy management systems market in terms of revenue was estimated to be worth $38.6 billion in 2022 and is poised to reach $75.0 billion by 2027, growing at a CAGR of 14.2% from 2022 to 2027. The growing use of renewable energy sources like wind and solar power is increasing the demand for Energy Management Systems to manage and optimise their use. Growth in the EMS market is being driven by the development of new and advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI), and cloud computing. These technologies contribute to better energy management by enabling real-time monitoring, data analysis, and predictive maintenance.
The data communication on a real-time basis allows the utilities to have advantages such as real-time pricing, outage detection, identification of power theft, avoiding meter data tampering, and providing better service. Several sensor and actuator-based appliances are commissioned in smart buildings to remotely manage the connection of electrical load based on the consumer choice or utility decisions envisaging the necessity of the smart meter. The increased installation of smart grids and smart meters can drive the market for energy management systems globally. The laws and regulations for spreading awareness regarding energy conservation have been endorsed by regional governments worldwide. These regulations and policies function as a driving force for the energy management system market.
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Energy Management Systems Market Dynamics
Drivers: Government policies to increase energy efficiency and tackle climate change
Several laws and regulations aimed at reducing energy consumption and spreading awareness regarding energy conservation have been enacted by regional governments worldwide. These regulations and policies function as a driving force for the EMS market in application areas such as the industrial, commercial, and residential sectors. Governments across several countries are working toward decarbonization which involves different processes. Due to the high rise in carbon emission rates, many countries have established or have already installed standards and norms about energy consumption and reducing the carbon footprint. The development of ISO 50001 provides a standardized, international approach to best practices that can be applied in all countries and across all sectors. It provides a framework to help build energy management capacity within enterprises, industries, and the economy. Other policies are also operating at the country level to reduce energy consumption and, hence, reduce carbon emissions from electricity consumption. Several companies now use environmental sustainability to differentiate themselves from other players. This provides a competitive advantage and helps them create a positive brand image. EMS solutions will help organizations in their energy conservation initiatives. Therefore, such government policies and a shift toward tackling climate change would be a driving factor for the energy management systems.
Restraints: High installation costs
Deploying a completely automated and high-tech EMS system in buildings or industries requires substantial initial investments. Every industry wants a cost cut in its consumption. So, they require energy management systems to monitor the energy consumption of different machines and plants. Although the deployment of energy-efficient solutions and measures leads to substantial cost and energy savings in the long term, it requires sizable initial investments. There could be situations in which industries, companies, and manufacturing units do not have the funds required to undertake the investments in EMS. Such an investment is not feasible for small or medium-scale industries. Usually, the hardware components of energy management systems cost much more than the software and service components.
Opportunities: Growth of urbanization and digitalization
The anticipated urbanization of the world poses significant environmental, economic, and social sustainability challenges. Consequently, urban processes and practices are becoming highly responsive to a data-driven urban scenario that is the key mode of production for smart cities. Such form is increasingly being directed toward tackling sustainability challenges in the light of the escalating urbanization trend. Significant energy savings can be done by installing energy management systems to help monitor energy consumption. It would also help predict the type of energy-efficient technique that can be applied in that situation. This implies that the city governments in the technologically advanced nations will face significant challenges due to the issues engendered by urban growth. The increasing urbanization eventually affects the growth of digitalization among countries. This is expected to be an opportunity for the growth of the energy management systems market.
Challenges: Lack of awareness in small and medium-sized businesses
The major challenge related to energy efficiency is the lack of awareness among the small and medium-sized businesses operating worldwide. They are hesitant to invest in energy-efficient technologies and are unaware of the policies and benefits they can pursue with the help of energy management systems. The major players are aiming to focus on sustainability and energy efficiency to tackle climate change. However, since most small and medium-sized enterprises are still unaware of the benefits of energy-efficient technologies, they lose out on the cost savings that can be done with the help of energy management systems. Nevertheless, governments are implementing various policies and programs to increase awareness among people regarding energy management.
Market Map
The hardware segment by component is expected to occupy the largest market share from 2022 to 2027
Based on the component, hardware is estimated to be the largest market from 2020 to 2027. A large variety of energy monitoring hardware devices are available with communication, sensing technology, and machine learning algorithm applications. The hardware components of energy management systems include in-house displays, meters, thermostats, load control switches, sensors, and smart plugs. Some of the ancillary devices are also a part of the hardware component of EMS. The hardware is an important component upon which the software component is dependent. Also, the hardware costs much higher than the software and services, due to which it occupies a larger share in the market. In conclusion, an increase in the development of digital technologies, especially in residential sectors of North America, is further fueling the demand for energy management systems.
Home energy management systems by type is projected to emerge as the fastest-growing segment for energy management systems market
Based on the type, home energy management systems is projected to hold the highest CAGR during the forecast period. Under a robust smart grid concept, a modern home equipped with HEMS contributes significantly toward efficiency improvement, economizing energy usage, reliability, as well as conserving energy for distributed systems. Water heaters, refrigerators, and clothes dryers are major energy consumers and are responsible for about 18% of all homes’ energy use. Many of the technologies designed to improve whole-building energy performance can also be used to increase the efficiency of these appliances. Regions such as North America and Europe are already well versed with the concept of home energy management systems, whereas the developing countries, especially the Asia Pacific, are aiming to achieve 100% electrification and, as a result, are working extensively toward the adoption of these technologies.
The manufacturing industry, by end-user industry, is expected to occupy the largest market share from 2022 to 2027
By end-user industry, the manufacturing industry accounted for the largest market share during the forecast period from 2022 to 2027. The benefits of energy management are not only limited to economic savings but also include significant emissions reduction. Manufacturers need to ensure they are minimizing energy usage while maximizing its utility. Manufacturing companies can resolve these challenges and make more informed decisions by knowing how much energy each piece of machinery uses and what power level will lead to optimal functioning. Therefore, energy management systems are essential for successful digitalization and the development of smart factories based on real-time data from sensors and IoT devices.
North America is expected to dominate the market during the forecast period.
The North America region is expected to be the largest region in the energy management systems market during the forecast period. The growing focus to modernize the grid, increase the adoption of smart meters, and the deployment of home energy management systems to monitor and manage the electricity consumption is expected to drive the demand for energy management systems in the region. Government policies in the region are also directed towards achieving higher efficiencies to reduce the consumption of energy. Moreover, the industrial sector has traditionally been strong in North America. Hence, improving industrial energy efficiency through the implementation of energy management systems becomes relatively important, subsequently driving the growth of the regional market.
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Key Players
Siemens (Germany), ABB (Switzerland), Schneider Electric (France), Hitachi (Japan), General Electric (US), Emerson Electric Co. (US), Mitsubishi Electric Corporation (Japan), Eaton (Ireland), Honeywell International, Inc. (US), IBM (US), and Cisco Systems, Inc. (US).
Energy Management Systems Market Report Scope
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Report Coverage |
Details |
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Market size: |
USD 38.6 billion in 2022 to USD 75.0 billion by 2027 |
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Growth Rate: |
14.2% |
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Largest Market: |
North America |
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Market Dynamics: |
Drivers, Restraints, Opportunities & Challenges |
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Forecast Period: |
2022-2027 |
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Forecast Units: |
Value (USD Billion) |
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Report Coverage: |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
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Segments Covered: |
Type, Component, Deployment, End-User, and Region |
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Geographies Covered: |
North America, Europe, Asia Pacific, Latin America, and Middle East and Africa |
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Report Highlights:
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Updated financial information / product portfolio of players |
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Key Market Opportunities: |
Growth of urbanization and digitalization |
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Key Market Drivers: |
Government policies to increase energy efficiency and tackle climate change |
This research report categorizes the market based on component, type, deployment, end user industry, and region.
Based on component, the energy management systems market has been segmented as follows:
- Software
- Hardware
- Services
Based on type, the market has been segmented as follows:
- Home Energy Management Systems
- Building Energy Management Systems
- Industrial Energy Management Systems
Based on deployment, the market has been segmented as follows:
- On-Premise
- Cloud Based
Based on end user industry, the market has been segmented as follows:
- Power & Energy
- Telecom & IT
- Manufacturing
- Residential & Commercial
- Food & Beverages
- Others
Based on the region, the market has been segmented as follows:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Recent Developments
- In April 2022, Samsung Electronics announced a partnership with ABB to integrate Samsung SmartThings into more homes and buildings.
- In October 2021, SPIE, the independent European leader in multi-technical services in the areas of energy and communications, and Siemens Energy signed a partnership to support the energy company along its path toward a climate-neutral future with efficient, sustainable, and digital solutions.
- In August 2021, Emerson acquired Open Systems International, Inc. (OSI Inc.) for USD 1.6 billion in an all-cash transaction. OSI Inc. is a leading operations technology software provider that broadens and complements Emerson’s robust software portfolio and improves energy efficiency and reliability.
- In June 2021, ETAP, an electrical power system analysis and operation software, announced joining forces with Schneider Electric to deliver end-to-end lifecycle digitalization, enhanced efficiency, sustainability, and resiliency to a broader audience and customer base
Frequently Asked Questions (FAQ):
What is the Growth of Energy Management System Market?
Energy Management System Industry expected to grow at a CAGR of 14.2% during forecast period 2024 to 2027
What is the major drivers for energy management systems market?
The energy management systems help organizations in their energy conservation initiatives. Therefore, such government policies and a shift toward tackling climate change would be a driving factor for the energy management systems. IoT and big data technologies are seen as key drivers behind the emergence of smart cities. The continuously increasing number of networked devices deployed across urban environments will result in explosive growth in the amount of data generated, increasing the demand for energy management systems. There are also several types of loans with low-interest rates for the purchase of energy-efficient equipment and loan guarantee schemes, driving the market of energy management systems.
Which is the largest-growing region during the forecasted period in energy management systems market?
North America is expected to account for the largest market size during the forecast period. North America accounted for a 33.5% share of the energy management systems market in 2021.The countries covered in the region are US, Canada, and Mexico.
Which is the fastest-growing segment, by deployment, during the forecasted period in energy management systems market?
The cloud based segment is expected to grow at the fastest CAGR during the forecasted period. The cloud-based systems allow for easier portfolio management as it is possible to view all managed sites at once. As the managers are able to access information remotely, this also reduces on-site maintenance to only when necessary, saving time and cost in manual maintenance. The benefits of a cloud-based EMS over on-premise are accessibility, flexibility, and convenience. Therefore, cloud-based energy management systems is expected to be the fastest growing segment in the market. .
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 28)
1.1 OBJECTIVES OF THE STUDY
1.2 DEFINITION
1.3 INCLUSIONS AND EXCLUSIONS
1.3.1 ENERGY MANAGEMENT SYSTEMS MARKET, BY COMPONENT
1.3.2 MARKET, BY TYPE
1.3.3 MARKET, BY DEPLOYMENT
1.3.4 MARKET, BY END-USER INDUSTRY
1.3.5 MARKET, BY REGION
1.4 MARKET SCOPE
1.4.1 MARKET SEGMENTATION
1.4.2 REGIONAL SCOPE
1.5 YEARS CONSIDERED FOR THE STUDY
1.6 CURRENCY
1.7 LIMITATIONS
1.8 STAKEHOLDERS
1.9 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 35)
2.1 RESEARCH DATA
FIGURE 1 ENERGY MANAGEMENT SYSTEM MARKET: RESEARCH DESIGN
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 2 DATA TRIANGULATION METHODOLOGY
2.2.1 SECONDARY DATA
2.2.1.1 Key data from secondary sources
2.2.2 PRIMARY DATA
2.2.2.1 Breakdown of primaries
FIGURE 3 KEY DATA FROM PRIMARY SOURCES
FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
FIGURE 5 MAIN METRICS CONSIDERED WHILE ANALYZING AND ASSESSING DEMAND FOR ENERGY MANAGEMENT SYSTEMS
2.3 MARKET SIZE ESTIMATION
2.3.1 BOTTOM-UP APPROACH
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.3.2 TOP-DOWN APPROACH
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.3.3 DEMAND-SIDE ANALYSIS
2.3.3.1 Regional analysis
2.3.3.2 Country analysis
2.3.3.3 Demand-side assumptions
2.3.3.4 Demand-side calculations
2.3.4 SUPPLY-SIDE ANALYSIS
FIGURE 8 KEY STEPS CONSIDERED FOR ASSESSING SUPPLY-SIDE OF ENERGY MANAGEMENT SYSTEMS
FIGURE 9 MARKET: SUPPLY-SIDE ANALYSIS
2.3.4.1 Supply-side calculations
2.3.4.2 Supply-side assumptions
2.3.5 FORECAST
3 EXECUTIVE SUMMARY (Page No. - 45)
TABLE 1 ENERGY MANAGEMENT SYSTEM MARKET SHARE, BY SEGMENT
FIGURE 10 GLOBAL MARKET, BY COMPONENT, 2022 TO 2027
FIGURE 11 GLOBAL MARKET, BY TYPE, 2022 TO 2027
FIGURE 12 GLOBAL MARKET, BY DEPLOYMENT, 2022 TO 2027
FIGURE 13 GLOBAL MARKET, BY END-USER INDUSTRY, 2022 TO 2027
FIGURE 14 GLOBAL EMS MARKET, BY REGION, 2022 TO 2027
4 PREMIUM INSIGHTS (Page No. - 50)
4.1 ATTRACTIVE OPPORTUNITIES IN ENERGY MANAGEMENT SYSTEMS MARKET
FIGURE 15 ESCALATING ENERGY CONSUMPTION AND PRICE VOLATILITY EXPECTED TO DRIVE ENERGY MANAGEMENT SYSTEM MARKET FROM 2022 TO 2027
4.2 MARKET IN NORTH AMERICA, BY COMPONENT AND COUNTRY
FIGURE 16 US HELD LARGEST SHARE OF MARKET IN NORTH AMERICA IN 2021
4.3 MARKET, BY COMPONENT
FIGURE 17 HARDWARE SEGMENT TO HOLD MAJOR MARKET SHARE
4.4 MARKET, BY TYPE
FIGURE 18 INDUSTRIAL ENERGY MANAGEMENT SYSTEMS TO DOMINATE ENERGY MANAGEMENT SYSTEM MARKET
4.5 MARKET, BY DEPLOYMENT
FIGURE 19 ON-PREMISE TO HOLD LARGEST SHARE OF GLOBAL ENERGY MANAGEMENT SYSTEM MARKET
4.6 MARKET, BY END-USER INDUSTRY
FIGURE 20 POWER & ENERGY TO ACCOUNT FOR LARGEST MARKET SHARE
4.7 MARKET, BY REGION
FIGURE 21 ASIA PACIFIC TO RECORD HIGHEST CAGR IN ENERGY MANAGEMENT SYSTEM MARKET DURING FORECAST PERIOD
5 MARKET OVERVIEW (Page No. - 54)
5.1 INTRODUCTION
5.2 COVID-19 HEALTH ASSESSMENT
FIGURE 22 GLOBAL PROPAGATION OF COVID-19
FIGURE 23 PROPAGATION OF COVID-19 CASES IN SELECTED COUNTRIES
5.3 MARKET DYNAMICS
FIGURE 24 ENERGY MANAGEMENT SYSTEMS MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.3.1 DRIVERS
5.3.1.1 Escalating energy consumption and price volatility
FIGURE 25 TOTAL ELECTRICITY CONSUMPTION (EJ), 2010–2019
TABLE 2 ELECTRICITY PRICES IN SELECTED OECD COUNTRIES, 2021 (USD/UNIT)
5.3.1.2 Installation of smart grids and smart meters
FIGURE 26 INVESTMENT SPENDING IN ELECTRICITY NETWORKS BY REGION, 2016–2021
5.3.1.3 Government policies to increase energy efficiency and tackle climate change
FIGURE 27 GLOBAL ENERGY-RELATED CO2 EMISSIONS, 2010–2021
5.3.2 RESTRAINTS
5.3.2.1 High installation costs
5.3.2.2 Extended payback period
5.3.3 OPPORTUNITIES
5.3.3.1 Growth of urbanization and digitalization
FIGURE 28 GROWTH IN URBAN POPULATION WORLDWIDE, 2010–2020
5.3.3.2 Subsidies on carbon and electricity tax policies
FIGURE 29 CO2 EMISSIONS FROM ELECTRICITY GENERATION, 1990–2019
5.3.4 CHALLENGES
5.3.4.1 Lack of awareness in small and medium-sized businesses
5.3.4.2 Hardware maintenance costs
5.4 COVID-19 IMPACT
5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
5.5.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR ENERGY MANAGEMENT SYSTEM PROVIDERS
FIGURE 30 REVENUE SHIFT FOR ENERGY MANAGEMENT SYSTEM PROVIDERS
5.6 MARKET MAP
FIGURE 31 ENERGY MANAGEMENT SYSTEM MARKET: MARKET MAP
TABLE 3 EMS MARKET: ROLE IN ECOSYSTEM
5.7 VALUE CHAIN ANALYSIS
FIGURE 32 MARKET: VALUE CHAIN ANALYSIS
5.7.1 RAW MATERIAL PROVIDERS/SUPPLIERS
5.7.2 COMPONENT MANUFACTURERS
5.7.3 ENERGY MANAGEMENT SYSTEM INTEGRATORS/ASSEMBLERS
5.7.4 BUYERS/END-USER INDUSTRIES
5.7.5 POST-SALES SERVICES
5.8 TECHNOLOGY ANALYSIS
5.8.1 IOT-CONNECTED ENERGY MANAGEMENT SYSTEMS
5.9 KEY CONFERENCES & EVENTS, 2022–2024
TABLE 4 MARKET: DETAILED LIST OF CONFERENCES & EVENTS
5.10 TARIFFS, CODES, & REGULATIONS
5.10.1 TARIFFS RELATED TO ENERGY MANAGEMENT SYSTEMS
TABLE 5 IMPORT TARIFFS FOR HS 903210 THERMOSTATS IN 2019
TABLE 6 IMPORT TARIFFS FOR HS 9028 UTILITY METERS IN 2019
5.11 TRADE ANALYSIS
5.11.1 TRADE ANALYSIS FOR THERMOSTATS
5.11.2 EXPORT SCENARIO FOR THERMOSTATS
TABLE 7 EXPORTED SCENARIO FOR HS CODE: 903210, BY COUNTRY, 2019–2021 (USD)
5.11.3 IMPORT SCENARIO FOR THERMOSTATS
TABLE 8 IMPORT SCENARIO FOR HS CODE: 903210, BY COUNTRY, 2019–2021 (USD)
5.11.4 TRADE ANALYSIS FOR UTILITY METERS
5.11.5 EXPORT SCENARIO
TABLE 9 EXPORT SCENARIO FOR HS CODE: 902830, BY COUNTRY, 2019–2021 (USD)
TABLE 10 EXPORT SCENARIO FOR HS CODE: 902890, BY COUNTRY, 2019–2021 (USD)
5.11.6 IMPORT SCENARIO
TABLE 11 IMPORT SCENARIO FOR HS CODE: 902830, BY COUNTRY, 2019–2021 (USD)
TABLE 12 IMPORT SCENARIO FOR HS CODE: 902890, BY COUNTRY, 2019–2021 (USD)
5.11.7 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 13 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 14 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 15 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 16 REST OF THE WORLD (ROW): LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.11.8 CODES AND REGULATIONS RELATED TO ENERGY MANAGEMENT SYSTEMS
TABLE 17 ENERGY MANAGEMENT SYSTEMS: CODES AND REGULATIONS
5.12 INNOVATIONS AND PATENT REGISTRATIONS
TABLE 18 ENERGY MANAGEMENT SYSTEMS: INNOVATIONS AND PATENT REGISTRATIONS, JANUARY 2020–DECEMBER 2021
5.13 PORTER’S FIVE FORCES ANALYSIS
FIGURE 33 PORTER’S FIVE FORCES ANALYSIS FOR MARKET
TABLE 19 MARKET: PORTER’S FIVE FORCES ANALYSIS
5.13.1 THREAT OF SUBSTITUTES
5.13.2 BARGAINING POWER OF SUPPLIERS
5.13.3 BARGAINING POWER OF BUYERS
5.13.4 THREAT OF NEW ENTRANTS
5.13.5 INTENSITY OF COMPETITIVE RIVALRY
5.14 KEY STAKEHOLDERS & BUYING CRITERIA
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 34 INFLUENCE OF KEY STAKEHOLDERS IN BUYING PROCESS FOR TOP 3 END USERS
TABLE 20 INFLUENCE OF KEY STAKEHOLDERS IN BUYING PROCESS FOR TOP 3 END USERS
5.15 BUYING CRITERIA
FIGURE 35 INFLUENCE OF KEY STAKEHOLDERS IN BUYING PROCESS FOR TOP 3 END USERS
TABLE 21 KEY BUYING CRITERIA FOR TOP 3 END USERS
5.16 CASE STUDY ANALYSIS
5.16.1 NEW ZEALAND’S LEADING PROPERTY COMPANY TO REACH GREEN STAR GOALS AND SUSTAINABILITY TARGETS
5.16.1.1 Problem Statement: December 2020
5.16.1.2 Solution
5.16.2 NEW FACILITY TO SHOWCASE ENERCON’S TECHNOLOGY CAPABILITIES TO GET MONITORED VIA BUILDING MANAGEMENT SYSTEM
5.16.2.1 Problem Statement: October 2020
5.16.2.2 Solution
5.16.3 LUNDIN NORWAY EDVARD GRIEG PLATFORM AND HONEYWELL DEVELOPED DIGITAL TWINS AS BASIS FOR ENERGY MANAGEMENT
5.16.3.1 Problem Statement: October 2020
5.16.3.2 Solution
6 ENERGY MANAGEMENT SYSTEMS MARKET, BY COMPONENT (Page No. - 98)
6.1 INTRODUCTION
FIGURE 36 MARKET, BY COMPONENT, 2021 (%)
TABLE 22 MARKET, BY COMPONENT, 2020–2027 (USD BILLION)
6.2 SOFTWARE
6.2.1 AUTOMATED CONTROL FEATURES TO DRIVE DEMAND FOR SOFTWARE SEGMENT
TABLE 23 SOFTWARE: MARKET, BY REGION, 2020–2027 (USD BILLION)
6.3 HARDWARE
6.3.1 ADOPTION OF DIGITAL TECHNOLOGIES TO DRIVE GROWTH OF HARDWARE SEGMENT
TABLE 24 HARDWARE: MARKET, BY REGION, 2020–2027 (USD BILLION)
6.4 SERVICES
6.4.1 ADVANTAGE OF REDUCTION IN ELECTRICITY BILLS TO BOOST DEMAND FOR SERVICES SECTOR
TABLE 25 SERVICES: MARKET, BY REGION, 2020–2027 (USD BILLION)
7 ENERGY MANAGEMENT SYSTEMS MARKET, BY TYPE (Page No. - 104)
7.1 INTRODUCTION
FIGURE 37 MARKET, BY TYPE, 2021
TABLE 26 MARKET, BY TYPE, 2020–2027 (USD BILLION)
7.2 HOME ENERGY MANAGEMENT SYSTEMS
7.2.1 GROWING DEPLOYMENT OF SMART GRIDS TO DRIVE MARKET FOR HOME ENERGY MANAGEMENT SYSTEMS
TABLE 27 HOME ENERGY MANAGEMENT SYSTEMS, BY REGION, 2020–2027 (USD BILLION)
7.3 BUILDING ENERGY MANAGEMENT SYSTEMS
7.3.1 INCREASING USE OF IT EQUIPMENT TO DRIVE BUILDING ENERGY MANAGEMENT SYSTEM MARKET
TABLE 28 BUILDING EMS MARKET, BY REGION, 2020–2027 (USD BILLION)
7.4 INDUSTRIAL ENERGY MANAGEMENT SYSTEMS
7.4.1 VARIOUS GOVERNMENT POLICIES & REGULATIONS TO DRIVE GROWTH OF INDUSTRIAL ENERGY MANAGEMENT SYSTEMS
TABLE 29 INDUSTRIAL ENERGY MANAGEMENT SYSTEMS, BY REGION, 2020–2027 (USD BILLION)
8 ENERGY MANAGEMENT SYSTEMS MARKET, BY DEPLOYMENT (Page No. - 110)
8.1 INTRODUCTION
FIGURE 38 MARKET, BY DEPLOYMENT, 2021 (%)
TABLE 30 MARKET, BY DEPLOYMENT, 2020–2027 (USD BILLION)
8.2 ON-PREMISE
8.2.1 REPLACEMENT OF EXISTING ON-PREMISE DEPLOYMENTS TO DRIVE MARKET GROWTH
TABLE 31 ON-PREMISE: ENERGY MANAGEMENT SYSTEMS, BY REGION, 2020–2027 (USD BILLION)
8.3 CLOUD-BASED
8.3.1 EASE OF ACCESSIBILITY TO BOOST GROWTH OF CLOUD-BASED ENERGY MANAGEMENT SYSTEMS
TABLE 32 CLOUD-BASED: MARKET, BY REGION, 2020–2027 (USD BILLION)
9 ENERGY MANAGEMENT SYSTEMS MARKET, BY END-USER INDUSTRY (Page No. - 115)
9.1 INTRODUCTION
FIGURE 39 MARKET, BY END-USER INDUSTRY, 2021
TABLE 33 MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
9.2 POWER & ENERGY
9.2.1 DECARBONIZATION GOALS ARE LIKELY TO BOOST DEMAND FOR ENERGY MANAGEMENT SYSTEMS
TABLE 34 POWER & ENERGY: ENERGY MANAGEMENT SYSTEM MARKET, BY REGION, 2020–2027 (USD BILLION)
9.3 TELECOM & IT
9.3.1 INVESTMENTS IN HYPERSCALE DATA CENTERS TO BOOST ENERGY MANAGEMENT SYSTEMS MARKET
TABLE 35 TELECOM & IT: MARKET, BY REGION, 2020–2027 (USD BILLION)
9.4 MANUFACTURING
9.4.1 GOVERNMENT POLICIES TO DRIVE DEMAND FOR ENERGY MANAGEMENT SYSTEMS
TABLE 36 MANUFACTURING: MARKET, BY REGION, 2020–2027 (USD BILLION)
9.5 RESIDENTIAL & COMMERCIAL
9.5.1 FINANCIAL ASSISTANCE TO INCREASE ENERGY SAVINGS LIKELY TO DRIVE MARKET
TABLE 37 RESIDENTIAL & COMMERCIAL: MARKET, BY REGION, 2020–2027 (USD BILLION)
9.6 FOOD & BEVERAGES
9.6.1 INCREASE IN ENERGY-EFFICIENT PRODUCTION TO FUEL DEMAND FOR ENERGY MANAGEMENT SYSTEMS
TABLE 38 FOOD & BEVERAGES: MARKET, BY REGION, 2020–2027 (USD BILLION)
9.7 OTHERS
9.7.1 REDUCTION OF EMISSIONS IN REFINERIES TO DRIVE ENERGY MANAGEMENT SYSTEM MARKET
TABLE 39 OTHERS: MARKET, BY REGION, 2020–2027 (USD BILLION)
10 ENERGY MANAGEMENT SYSTEMS MARKET, BY REGION (Page No. - 124)
10.1 INTRODUCTION
FIGURE 40 MARKET, BY REGION, 2021 (%)
FIGURE 41 MARKET IN ASIA PACIFIC EXPECTED TO GROW AT THE HIGHEST CAGR FROM 2022 TO 2027
TABLE 40 MARKET, BY REGION, 2020–2027 (USD BILLION)
10.2 NORTH AMERICA
FIGURE 42 NORTH AMERICA: ENERGY MANAGEMENT SYSTEMS MARKET SNAPSHOT
10.2.1 BY COMPONENT
TABLE 41 NORTH AMERICA: MARKET, BY COMPONENT, 2020–2027 (USD BILLION)
10.2.2 BY TYPE
TABLE 42 NORTH AMERICA: MARKET, BY TYPE, 2020–2027 (USD BILLION)
10.2.3 BY DEPLOYMENT
TABLE 43 NORTH AMERICA: MARKET, BY DEPLOYMENT, 2020–2027 (USD BILLION)
10.2.4 BY END-USER INDUSTRY
TABLE 44 NORTH AMERICA: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.2.5 BY COUNTRY
TABLE 45 NORTH AMERICA: MARKET, BY COUNTRY, 2020–2027 (USD BILLION)
10.2.5.1 US
10.2.5.1.1 Adoption of technologies to enhance smart buildings drives demand for energy management systems
TABLE 46 US: EMS MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.2.5.2 Canada
10.2.5.2.1 Increased investments in smart meters are expected to boost demand for energy management systems
TABLE 47 CANADA: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.2.5.3 Mexico
10.2.5.3.1 Industrial sector likely to fuel growth of energy management system market
TABLE 48 MEXICO: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.3 EUROPE
FIGURE 43 EUROPE: ENERGY MANAGEMENT SYSTEMS MARKET SNAPSHOT
10.3.1 BY COMPONENT
TABLE 49 EUROPE: MARKET, BY COMPONENT, 2020–2027 (USD BILLION)
10.3.2 BY TYPE
TABLE 50 EUROPE: MARKET, BY TYPE, 2020–2027 (USD BILLION)
10.3.3 BY DEPLOYMENT
TABLE 51 EUROPE: MARKET, BY DEPLOYMENT, 2020–2027 (USD BILLION)
10.3.4 BY END-USER INDUSTRY
TABLE 52 EUROPE: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.3.5 BY COUNTRY
TABLE 53 EUROPE: EMS MARKET, BY COUNTRY, 2020–2027 (USD BILLION)
10.3.5.1 Germany
10.3.5.1.1 Tax benefits to drive market growth for energy management systems
TABLE 54 GERMANY: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.3.5.2 UK
10.3.5.2.1 Smart heating with integration of solar panels to drive market growth in UK
TABLE 55 UK: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.3.5.3 France
10.3.5.3.1 Focus on smart meter installation to drive market growth
TABLE 56 FRANCE: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.3.5.4 Italy
10.3.5.4.1 Investments in projects related to energy management to drive market
TABLE 57 ITALY: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.3.5.5 Rest of Europe
TABLE 58 REST OF EUROPE: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.4 ASIA PACIFIC
10.4.1 BY COMPONENT
TABLE 59 ASIA PACIFIC: ENERGY MANAGEMENT SYSTEMS MARKET, BY COMPONENT, 2020–2027 (USD BILLION)
10.4.2 BY TYPE
TABLE 60 ASIA PACIFIC: MARKET, BY TYPE, 2020–2027 (USD BILLION)
10.4.3 BY DEPLOYMENT
TABLE 61 ASIA PACIFIC: MARKET, BY DEPLOYMENT, 2020–2027 (USD BILLION)
10.4.4 BY END-USER INDUSTRY
TABLE 62 ASIA PACIFIC: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.4.5 BY COUNTRY
TABLE 63 ASIA PACIFIC: MARKET, BY COUNTRY, 2020–2027 (USD BILLION)
10.4.5.1 China
10.4.5.1.1 Carbon neutrality targets to drive energy management system market
TABLE 64 CHINA: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.4.5.2 India
10.4.5.2.1 Growing population is expected to drive ems market
TABLE 65 INDIA: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.4.5.3 Japan
10.4.5.3.1 Implementation of new international standards expected to fuel market growth
TABLE 66 JAPAN: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.4.5.4 Rest of Asia Pacific
TABLE 67 REST OF ASIA PACIFIC: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.5 MIDDLE EAST & AFRICA
10.5.1 BY COMPONENT
TABLE 68 MIDDLE EAST & AFRICA: ENERGY MANAGEMENT SYSTEMS MARKET, BY COMPONENT, 2020–2027 (USD BILLION)
10.5.2 BY TYPE
TABLE 69 MIDDLE EAST & AFRICA: MARKET, BY TYPE, 2020–2027 (USD BILLION)
10.5.3 BY DEPLOYMENT
TABLE 70 MIDDLE EAST & AFRICA: MARKET, BY DEPLOYMENT, 2020–2027 (USD BILLION)
10.5.4 BY END-USER INDUSTRY
TABLE 71 MIDDLE EAST & AFRICA: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.5.5 BY COUNTRY
TABLE 72 MIDDLE EAST & AFRICA: EMS MARKET, BY COUNTRY, 2020–2027 (USD BILLION)
10.5.5.1 Saudi Arabia
10.5.5.1.1 Integration of solar power generation in the energy mix to drive demand for energy management systems
TABLE 73 SAUDI ARABIA: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.5.5.2 UAE
10.5.5.2.1 Rapid economic development and growing infrastructure to drive market growth
TABLE 74 UAE: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.5.5.3 South Africa
10.5.5.3.1 Focus on increasing energy efficiency to drive market
TABLE 75 SOUTH AFRICA: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.5.5.4 Rest of Middle East & Africa
TABLE 76 REST OF MIDDLE EAST & AFRICA: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.6 SOUTH AMERICA
10.6.1 BY COMPONENT
TABLE 77 SOUTH AMERICA: ENERGY MANAGEMENT SYSTEMS MARKET, BY COMPONENT, 2020–2027 (USD BILLION)
10.6.2 BY TYPE
TABLE 78 SOUTH AMERICA: MARKET, BY TYPE, 2020–2027 (USD BILLION)
10.6.3 BY DEPLOYMENT
TABLE 79 SOUTH AMERICA: MARKET, BY DEPLOYMENT, 2020–2027 (USD BILLION)
10.6.4 BY END-USER INDUSTRY
TABLE 80 SOUTH AMERICA: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.6.5 BY COUNTRY
TABLE 81 SOUTH AMERICA: EMS MARKET, BY COUNTRY, 2020–2027 (USD BILLION)
10.6.5.1 Brazil
10.6.5.1.1 Economic growth and focus on energy conservation to drive demand for energy management systems
TABLE 82 BRAZIL: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.6.5.2 Argentina
10.6.5.2.1 Rising energy demand from industries to drive energy management system market
TABLE 83 ARGENTINA: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
10.6.5.3 Rest of South America
TABLE 84 REST OF SOUTH AMERICA: MARKET, BY END-USER INDUSTRY, 2020–2027 (USD BILLION)
11 COMPETITIVE LANDSCAPE (Page No. - 159)
11.1 OVERVIEW
11.2 KEY PLAYERS’ STRATEGIES
TABLE 85 OVERVIEW OF KEY STRATEGIES DEPLOYED BY TOP PLAYERS, AUGUST 2018– APRIL 2022
11.3 MARKET SHARE ANALYSIS OF TOP FIVE PLAYERS
TABLE 86 EMS MARKET: DEGREE OF COMPETITION
FIGURE 44 MARKET SHARE ANALYSIS, 2021
11.4 REVENUE ANALYSIS OF TOP FIVE MARKET PLAYERS
FIGURE 45 TOP PLAYERS IN MARKET, 2017–2021
11.5 COMPANY EVALUATION QUADRANT
11.5.1 STAR
11.5.2 PERVASIVE
11.5.3 EMERGING LEADER
11.5.4 PARTICIPANT
FIGURE 46 MARKET: COMPETITIVE LEADERSHIP MAPPING, 2021
11.6 START-UP/SME EVALUATION QUADRANT, 2021
11.6.1 PROGRESSIVE COMPANY
11.6.2 RESPONSIVE COMPANY
11.6.3 DYNAMIC COMPANY
11.6.4 STARTING BLOCK
FIGURE 47 MARKET: START-UP/SME EVALUATION QUADRANT, 2021
11.7 COMPETITIVE BENCHMARKING
TABLE 87 ENERGY MANAGEMENT SYSTEM MARKET: DETAILED LIST OF KEY START-UPS/SMES
TABLE 88 MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS (START-UPS/SMES)
11.8 MARKET: COMPANY FOOTPRINT
TABLE 89 COMPANY FOOTPRINT: BY COMPONENT
TABLE 90 COMPANY FOOTPRINT: BY TYPE
TABLE 91 COMPANY FOOTPRINT: BY END-USER INDUSTRY
TABLE 92 COMPANY FOOTPRINT: REGION
TABLE 93 COMPANY PRODUCT FOOTPRINT
11.9 COMPETITIVE SCENARIO
TABLE 94 MARKET: PRODUCT LAUNCHES, APRIL 2019 – MARCH 2022
TABLE 95 MARKET: DEALS, MARCH 2019–44682 175
TABLE 96 MARKET: OTHERS, APRIL 2020–44621 178
12 COMPANY PROFILES (Page No. - 179)
(Business overview, Products/solutions/services offered, Recent Developments, MNM view)*
12.1 KEY PLAYERS
12.1.1 ABB
TABLE 97 ABB: BUSINESS OVERVIEW
FIGURE 48 ABB: COMPANY SNAPSHOT (2021)
TABLE 98 ABB: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 99 ABB: PRODUCT LAUNCHES
TABLE 100 ABB: DEALS
TABLE 101 ABB: OTHERS
12.1.2 SCHNEIDER ELECTRIC
TABLE 102 SCHNEIDER ELECTRIC: BUSINESS OVERVIEW
FIGURE 49 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT (2021)
TABLE 103 SCHNEIDER ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 104 SCHNEIDER ELECTRIC: PRODUCT LAUNCHES
TABLE 105 SCHNEIDER ELECTRIC: DEALS
12.1.3 SIEMENS
TABLE 106 SIEMENS: BUSINESS OVERVIEW
FIGURE 50 SIEMENS: COMPANY SNAPSHOT (2021)
TABLE 107 SIEMENS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 108 SIEMENS: PRODUCT LAUNCHES
TABLE 109 SIEMENS: DEALS
12.1.4 GENERAL ELECTRIC
TABLE 110 GENERAL ELECTRIC: BUSINESS OVERVIEW
FIGURE 51 GENERAL ELECTRIC: COMPANY SNAPSHOT (2021)
TABLE 111 GENERAL ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 112 GENERAL ELECTRIC: DEALS
TABLE 113 GENERAL ELECTRIC: OTHERS
12.1.5 EMERSON ELECTRIC CO.
TABLE 114 EMERSON ELECTRIC CO.: BUSINESS OVERVIEW
FIGURE 52 EMERSON ELECTRIC CO.: COMPANY SNAPSHOT (2021)
TABLE 115 EMERSON ELECTRIC CO.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 116 EMERSON ELECTRIC CO.: PRODUCT LAUNCHES
TABLE 117 EMERSON ELECTRIC CO.: DEALS
12.1.6 CISCO SYSTEMS, INC.
TABLE 118 CISCO SYSTEMS, INC.: BUSINESS OVERVIEW
FIGURE 53 CISCO SYSTEMS, INC.: COMPANY SNAPSHOT (2021)
TABLE 119 CISCO SYSTEMS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 120 CISCO SYSTEMS, INC.: DEALS
12.1.7 HONEYWELL INTERNATIONAL INC.
TABLE 121 HONEYWELL INTERNATIONAL INC.: BUSINESS OVERVIEW
FIGURE 54 HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT (2021)
TABLE 122 HONEYWELL INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 123 HONEYWELL INTERNATIONAL INC.: PRODUCT LAUNCHES
TABLE 124 HONEYWELL INTERNATIONAL INC.: DEALS
TABLE 125 HONEYWELL INTERNATIONAL INC.: OTHERS
12.1.8 EATON
TABLE 126 EATON: BUSINESS OVERVIEW
FIGURE 55 EATON: COMPANY SNAPSHOT (2021)
TABLE 127 EATON: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 128 EATON: PRODUCT LAUNCHES
TABLE 129 EATON: DEALS
12.1.9 MITSUBISHI ELECTRIC CORPORATION
TABLE 130 MITSUBISHI ELECTRIC CORPORATION: BUSINESS OVERVIEW
FIGURE 56 MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT (2021)
TABLE 131 MITSUBISHI ELECTRIC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 132 MITSUBISHI ELECTRIC CORPORATION: PRODUCT LAUNCHES
TABLE 133 MITSUBISHI ELECTRIC CORPORATION: DEALS
TABLE 134 MITSUBISHI ELECTRIC CORPORATION: OTHERS
12.1.10 IBM
TABLE 135 IBM: BUSINESS OVERVIEW
FIGURE 57 IBM: COMPANY SNAPSHOT (2021)
TABLE 136 IBM: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 137 IBM: PRODUCT LAUNCHES
TABLE 138 IBM: DEALS
12.1.11 HITACHI
TABLE 139 HITACHI: BUSINESS OVERVIEW
FIGURE 58 HITACHI: COMPANY SNAPSHOT (2020)
TABLE 140 HITACHI: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 141 HITACHI: DEALS
12.1.12 ROCKWELL AUTOMATION, INC.
TABLE 142 ROCKWELL AUTOMATION, INC.: BUSINESS OVERVIEW
FIGURE 59 ROCKWELL AUTOMATION, INC.: COMPANY SNAPSHOT (2021)
TABLE 143 ROCKWELL AUTOMATION, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 144 ROCKWELL AUTOMATION, INC.: DEALS
12.1.13 YOKOGAWA ELECTRIC CORPORATION
TABLE 145 YOKOGAWA ELECTRIC CORPORATION: BUSINESS OVERVIEW
FIGURE 60 YOKOGAWA ELECTRIC CORPORATION: COMPANY SNAPSHOT (2020)
TABLE 146 YOKOGAWA ELECTRIC CORPORATION: PRODUCTS OFFERED
TABLE 147 YOKOGAWA ELECTRIC CORPORATION: PRODUCT LAUNCHES
TABLE 148 YOKOGAWA ELECTRIC CORPORATION: DEALS
TABLE 149 YOKOGAWA ELECTRIC CORPORATION: OTHERS
12.1.14 C3 AI
TABLE 150 C3 AI.: BUSINESS OVERVIEW
FIGURE 61 C3 AI: COMPANY SNAPSHOT (2020)
TABLE 151 C3 AI: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 152 C3 AI: PRODUCT LAUNCHES
12.1.15 DELTA ELECTRONICS, INC.
TABLE 153 DELTA ELECTRONICS, INC.: BUSINESS OVERVIEW
FIGURE 62 DELTA ELECTRONICS, INC.: COMPANY SNAPSHOT (2021)
TABLE 154 DELTA ELECTRONICS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 155 DELTA ELECTRONICS, INC.: PRODUCT LAUNCHES
TABLE 156 DELTA ELECTRONICS, INC.: DEALS
12.2 OTHER PLAYERS
12.2.1 ENEL X
12.2.2 NEPTUNE INDIA
12.2.3 WEIDMULLER
12.2.4 ENERGY MANAGEMENT SYSTEMS, INC.
12.2.5 DISTECH CONTROLS
*Details on Business overview, Products/solutions/services offered, Recent Developments, MNM view might not be captured in case of unlisted companies
13 APPENDIX (Page No. - 242)
13.1 INSIGHTS FROM INDUSTRY EXPERTS
13.2 DISCUSSION GUIDE
13.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.4 AVAILABLE CUSTOMIZATIONS
13.5 RELATED REPORTS
13.6 AUTHOR DETAILS
This study involved major activities in estimating the current size of the energy management systems market. Comprehensive secondary research was done to collect information on the market, peer market, and parent market. The next step involved was validation of these findings, assumptions, and market sizing with industry experts across the value chain through primary research. The total market size was estimated through country-wise analysis. Then, the market breakdown and data triangulation were performed to estimate the market size of the segments and sub-segments.
Secondary Research
The secondary research involved the use of extensive secondary sources, directories, and databases, such as Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the global energy management system market. The other secondary sources comprised press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturers, associations, trade directories, and databases.
Primary Research
The energy management system market comprises several stakeholders, such as component manufacturers, product manufacturers/assemblers, service providers, distributors/end-users in the supply chain. The demand-side of this market is characterized by end user industry. Moreover, the demand is also fueled by the growing demand of transmission and distribution utilities. The supply side is characterized by rising demand for contracts from the industrial sector, and mergers & acquisitions among big players. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is given below:
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The bottom-up approach has been used to estimate and validate the size of the energy management systems market.
- In this approach, the energy management systems production statistics for each product type have been considered at a country and regional level.
- Extensive secondary and primary research has been carried out to understand the global market scenario for various types of energy management systemss.
- Several primary interviews have been conducted with key opinion leaders related to energy management systems system development, including key OEMs and Tier I suppliers.
- Qualitative aspects such as market drivers, restraints, opportunities, and challenges have been taken into consideration while calculating and forecasting the market size.
Global Energy management systems Market Size: Bottom-Up Approach
To know about the assumptions considered for the study, Request for Free Sample Report
Data Triangulation
The overall market size is estimated using the market size estimation processes as explained above, followed by splitting of the market into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the energy management system market ecosystem.
Report Objectives
- To define, describe, segment, and forecast the energy management system market based on component, device, application, solution, end-user industry, and region
- To forecast the market size for five key regions: North America, South America, Europe, Asia Pacific, and the Middle East & Africa, along with their key countries
- To provide detailed information about the key factors such as drivers, restraints, opportunities, and challenges influencing the growth of the market
- To strategically analyze the subsegments with respect to individual growth trends, prospects, and contributions of each segment to the overall market size
- To analyze market opportunities for stakeholders and details of the competitive landscape for market leaders
- To strategically profile the key players and comprehensively analyze their market shares and core competencies
- To track and analyse competitive developments such as new product launches, mergers, acquisitions, expansions, and supply contracts in the energy management system market
- This report covers the energy management system market size in terms of value.
Available Customization
With the given market data, MarketsandMarkets offers customizations based on the company’s specific needs. The following customization options are available for the report:
Product Analysis
- Product Matrix, which provides a detailed comparison of the product portfolio of each company
Company Information
- Detailed analyses and profiling of additional market players (up to 5)
Generating Response ...
Growth opportunities and latent adjacency in Energy Management Systems Market
How emerging markets offering revenue expansion opportunities in Energy Management Systems Market?
Which end user industry is expected to hold major share of the global Energy Management Systems Market for 2022 to 2027?
During the global Energy Management System (EMS) Market study, we did a separate exercise of deriving revenues for each major vendors for the specific segment and for the specific geographies, for example, IBM’s revenue for big data analytics, energy & utility industry, and UK/Europe/EMEA region. This exercise was done for all public companies and few private companies (which helped us with the specific information). This helped us to derive a portion of the overall market and the overall market was derived based on other data points collected using secondary and primary research.
MnM analyzed analytics vendors’ offerings for Energy Management System (EMS) industry verticals in the energy and utility space. MnM have collected various data points related to the company information from company websites, annual reports, investor presentations, press releases, and news publications. We also have an access to various paid databases including Factiva, OneSource, Hoovers, and Bloomberg, from where we have also collected few relevant data points for each analytics vendor. This helps us understand the revenue breakdown by business segments and geographies.We have collected various data points for the entire industry ecosystem and analyzed various parameters including economic condition, regulations, industry use cases, etc. to understand the adoption trend for this market. Apart from some industry related articles, we have also referred to some government publications and industry journals for collecting data points. After collecting data points for both sides, the industry trend was estimated based on various parameters including IT spending (for some cases, Big Data spending) government regulations, M&A initiatives, recent developments pertaining to the market, R&D expenses, start-up ecosystem/funding, and technology maturity. After analyzing each of these factors, we have applied our statistical market engineering model on these factors to estimate the market size and forecast them. We have also verified our assumptions and estimated through primary research.