According to a research report "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 2028" published by MarketsandMarkets, the Energy Management Systems market size is estimated to be USD 40.7 billion by 2023 and is projected to reach USD 75.6 billion by 2028, at a CAGR of 13.2%. EMS determines the most cost-effective configuration for power production, transmission, and distribution throughout the network, considering the required criteria for system stability, safety, and reliability. EMS has a cloud of network computation functions, such as static state estimation (SSE), optimal power flow, and contingency analysis. In EMS, the estimates of the operating states of the system are updated in the time scale of a second or more through SSE. SSE is used to schedule and dispatch load generation but is unsuitable for real-time monitoring and controlling time-critical dynamics in the system because of slow update rates. The supervisory control and data acquisition (SCADA) system performs data acquisition, updates the system status through alarm processing along with the user interface, and executes control actions.
Browse 219 market data Tables and 60 Figures spread through 270 Pages and in-depth TOC on "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 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/energy-management-systems-ems-market-1189.html
Services segment is expected to result in the segment occupying the second fastest market share of the Energy Management Systems market
Energy management services are the core of energy management systems. The services show the path for homeowners to lower their energy bills with smarter, more efficient use of load sharing for demand-based billing. This service assists solar clients in accurately determining their return on investment, tracking their savings, and enhancing the end result of their installations. Service companies work with utility companies to explore the role of demand management technology for future applications within the solar, battery storage, and electric vehicle industries. They have the tools to provide regional demand control. These companies are generally known as Energy Services Companies (ESCOs). This model is very much prevalent in Europe and North America. For instance, in November 2021, Nokia launched two new Software-as-a-Service (SaaS) offerings, which help communication service providers (CSPs) and enterprises strengthen their energy efficiency efforts and optimize the management of home devices. This initiative taken by Nokia provided its customers with faster time-to-value in operating their telecom networks and delivering new services.
BEMS type is estimated to be the second–fastest growing market
Based on the type segment of BEMS is estimated to be the second fastest growing market from 2023 to 2028. A building energy management system (BEMS) is a computer-based system that monitors and regulates the electrical and mechanical equipment in a building, such as lighting, power systems, heating, and ventilation. The BEMS is connected to the building's service plant and then to a central computer, allowing for management of temperature, lighting, humidity, and other parameters. Cables connect the building's vancus network of hubs to a central supervisory computer, from which building operators can operate the building. Building energy management software provides control features, monitoring, and alerts to building operators, allowing them to improve building efficiency. The growth of technology has made building energy management systems critical for managing energy demand, particularly on major construction sites.
On-premise is estimated to be the largest and second–fastest growing market
Based on the on-premise segment of energy management systems, the indoor type is estimated to be the largest and second–fastest growing segment in the global energy management systems market. Electricity consumption will be high as different servers consume energy at different rates. Many existing on-premise deployments were installed at a time when the cloud-based concept was not much prevalent. Therefore, on-premise servers eventually need to be maintained and replaced. Due to the high initial costs of these systems, it is impossible for the companies/organizations to directly shift to cloud-based options. This will drive the market for on-premise deployment of energy management systems. The retrofitting of the existing on-premise servers already installed with high CAPEX is the driving factor for this market.
Power & Energy industry is estimated to be the second-fastest growing market
Based on the end-user industry segment of energy management systems, the power & energy type is estimated to be the second–fastest growing segment. Every step toward improving efficiency and minimizing energy waste is crucial, and irrespective of the type of facility, power becomes an important tool. Certain examples include the petroleum industry, gas industry (natural gas and coal gas), electrical power industry, and the nuclear/coal industry. These industries are the main sources of energy supply and must simultaneously deliver cost-effective and reliable energy while addressing environmental issues. Unplanned outages, equipment glitches, and poor power quality can increase costs daily. Proper power and energy management systems in place can help in reducing costs, improve operational efficiency, and meet sustainability goals. Power management systems are integrated with power meters, power management software, and power quality mitigation equipment. Power management is primarily about the enhancement of electrical reliability or availability.
Middle East & Africa likely to emerge as the second-fastest growing Energy Management Systems market
Middle East & Africa accounted for a 10.8% share with a market size worth USD 40.7 billion in 2023. The energy management systems market in the Middle East & Africa has been segmented into Saudi Arabia, UAE, South Africa, and Rest of Middle East & Africa. The scope of Rest of Middle East & Africa includes Qatar, Nigeria, and Kenya.
The region is the fourth-largest and second-fastest growing market for energy management systems globally, occupying a share of 10.8% in 2022, and is expected to grow at a CAGR of 13.8% during the forecast period due to an increase in energy-saving efforts, increased power consumption from the manufacturing, commercial, and residential sectors. The Middle East & Africa region is currently undergoing rapid growth, resulting in a significant increase in power demand. To meet this demand, there is a need to both add capacity and optimize the utilization of existing capacity in order to fulfill economic and social requirements. For example, in August 2021, the UAE's Ministry of Energy and Infrastructure launched the National Water and Energy Demand Management Programme. This initiative focuses on improving energy efficiency in the country's most energy-intensive sectors, namely transport, industry, and construction, with a target of achieving a 40% improvement by 2050.
The overall key players are ABB (Switzerland), Siemens (Germany), Schneider Electric (France), General Electric (US), Emerson (US), Cisco Systems, Inc. (US), Honeywell International Inc. (US), Eaton (Ireland), Mitsubishi Electric Corporation (Japan), IBM (US), Hitachi (Japan), Rockwell Automation, Inc. (US), Yokogawa Electric Corporation (Japan), C3 AI (US), Delta Electronics, Inc. (US), Enel X (Italy), Neptune India (India), Weidmuller (Germany), Energy Management Systems, Inc. (US), Distech Controls (Canada).
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441