Market Leaders - Energy Management Systems Market
The global energy management systems market is expected to reach USD 75.0 billion by 2027 from an estimated USD 38.6 billion in 2022, at a CAGR of 14.2% from 2022 to 2027. Energy management systems (EMS) are automation systems that collect energy measurement data from the field and make it available to users through graphics, online monitoring tools, and energy quality analyzers, thus enabling the management of energy resources. 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 or transmission systems. Also, it can be used in small-scale systems such as by electricity grid operators to control and optimize the energy usage of devices such as HVAC, fans, pumps, lighting, etc., that are commonly found in larger buildings such as schools, hospitals, and factories. The building owners are looking to adopt an energy management system that will enable property owners to track, monitor, and manage their building’s energy usage.
There are several types of energy management systems such as home energy management systems, building energy management systems, and industrial energy management systems. A few major companies have a wide regional presence and dominate the energy management systems market. The leading players in the energy management systems market include ABB (Switzerland), General Electric (US), Siemens (Germany), Schneider Electric (France), Emerson Electric Co. (US).
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Product launches are among the key growth strategies adopted by leading companies such as General Electric (US), Siemens (Germany), ABB (Switzerland), Schneider Electric (France), and Emerson Electric Co. (US) to boost their position in the energy management systems market. Companies operating in this market also focus on partnerships, sales contracts, agreements, acquisitions, contracts, expansions, and investments to increase their market shares and expand their geographic presence.
ABB is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. It caters its products and services to various industries such as automotive, building & infrastructure, industrial automation, railways, and oil & gas. The company operates through four business segments, namely, Electrification, Motion, Process Automation, and Robotics & Discrete Automation. ABB joined three initiatives led by the international non-profit Climate Group to reduce its own emissions. ABB offers products, solutions, and services related to energy management under the Electrification segment. It offers miniature breakers, distribution enclosures, wiring accessories, and building automation under Smart Buildings. It also offers medium-voltage electrical components and digital devices, medium- and low-voltage switchgear, energy systems, digital systems, and service under Distribution Solutions. Under the Electrification Products division, it competes with various players, including Eaton, Schneider Electric, Siemens, and Cisco Systems. ABB has been operating its business globally, in approximately 100 countries with a major focus on Europe, Asia, and the Middle East & Africa. It offers a wide range of high, medium, and low voltage systems, control systems, network management, and UPS and power conditioning, which have enhanced its competitive position in the market.
Schneider Electric is a pioneer in the digital transformation of energy management and automation. It provides integrated efficiency and networking software solutions. It caters its products and services portfolio to various industries such as automotive, banking & finance, cloud and service providers, data centers and network solutions, electricity companies, healthcare, and machine automation. The company operates its business through two business segments, namely, Energy Management and Industrial Automation. Under its Energy Management business segment, the company provides low voltage, medium voltage, and secure power solutions and provides industrial automation solutions through its Industrial Automation business segment. Schneider Electric offers products, solutions, and devices to four main end markets: buildings, data centers, infrastructure, and industry. Within its Energy Management business segment, residential buildings remained one of the company’s strongest growth areas across most major economies, supported by the impact of hybrid working supplementing the underlying urbanization and renovation trends. Schneider Electric focused on product launches and expansions for the energy management systems market. The company launched several products in this market. Many of the product launches like the EcoStruxure Platforms and BlokSeT LV switchboard, PrismaSeT Active switchboards, next-generation TransferPacT Automatic Transfer Switching Equipment (ATSE), and TeSys Giga series as part of EcoStruxure platform which incorporated next-generation technologies.
Related Reports:
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
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