Global Energy Management System Market is estimated to reach $134 billion by 2024; growing at a CAGR of 17.9% from 2016 to 2024. Energy management system is a system used to regulate, monitor, and improve the performance of the transmission system and generation. This is computer supported system, which Improve complete transmission grid and meet strict security necessities, which is also known as EMS/SCADA or SCADA/EMS. Benefits of using EMS are increased energy-efficiency, reduction in carbon foot print and price, among others. Rising commercialization of innovative products and technological developments such as integration of SCADA, rising need in industrial sectors, such as in power and manufacturing, for monitoring and valuation of consumption pattern, is anticipated to drive the market over the forecasted period.
Global Energy Management System Market Size and Forecast 2015–2024
Growing responsiveness regarding carbon footprint management, increasing energy usage and price instability, obligatory rules and guidelines, and rising inclination towards effective energy management are the factors driving the growth of the energy management system market. Though, inadequate financial resources, and huge initial cost may hinder the growth of the market. Moreover, increasing number of smart cities ventures in emerging countries, and renewal of old infrastructure might provide with several growth opportunities in the forecasted year.
The global energy management system market is segmented into type, vertical, end user, components, and geography. The energy management system market is segmented by type as industrial energy management system (IEMS), building energy management system (BEMS), and home energy management system (HEMS). Moreover, market is segmented by vertical as power and energy, manufacturing, retail and offices, telecom and IT, healthcare, and other verticals. Further, end user includes commercial and residential. The market is segmented by components into sensors, controllers, software, and other components.
Global Energy Management System Market by Type 2016 Vs 2024
Based on geography, global energy management system market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated into U.S., Canada, and Mexico whereas Europe segment consist of UK, Russia, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Global Energy Management System Market Regional Revenue 2016 Vs 2024
The key market players include Cisco Systems, Inc., Honeywell International, Inc., Asea Brown Boveri (ABB) Ltd., General Electric Company, Schneider Electric SE, Siemens AG, International Business Machine Corporation, Eaton Corporation PLC, CA Technologies, and Emerson Electric Company, among others.
The key takeaways from the report
- The report will provide detailed analysis of Energy Management System Market with respect to major segments such as type, vertical, end user, and components
- The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Energy Management System Market has been included in the report
- Profile of the key players in the Energy Management System Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Energy Management System Market
- Industrial Energy Management System (IEMS)
- Building Energy Management System (BEMS)
- Home Energy Management System (HEMS)
- Power and Energy
- Retail and offices
- Telecom and IT
- Other Verticals
End User Segments
- Other Components
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle East
Global Energy Management System Market Primary Interviews by Geography