26th December 2019 – Global Energy
Management Systems (EMS) Market is anticipated to reach USD 72.73
billion by 2024. Energy Management Systems (EMS) involves embedded technology.
The factors that propel the growth of the market include rising consciousness
in industrial segments for the effective utilization of energy consumption,
strict guidelines and policies on the part of government with regards to energy
management, and shortage of energy.
On the other hand, there are factors
that may hamper the growth of the market including absence of funds for new
initiatives. Energy Management Systems (EMS) industry is anticipated to grow at
a significant CAGR of 14.7% in the upcoming period as the scope, product types,
and its applications are increasing across the globe.
Energy Management Systems (EMS) Market
may be explored by software, device, application, solution, vertical, and
geography. The market may be explored by software as Enterprise Carbon and
Energy Management, Utility EMS, Residential EMS, Industrial EMS, and Others ICT
Power Management, Energy Trading & Risk Management, and Energy Modeling).
The “Utility EMS” segment led the Energy Management Systems (EMS) industry in
2017 and is anticipated to maintain its dominance by 2024.
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The key applications that could be
explored in the Energy Management Systems (EMS) Market include Building Energy
Management, and Home Energy Management. The industry could be explored based on
device as Smart Thermostats, In-House Display, Load Control Switches, and Smart
Plugs.
Energy Management Systems (EMS) industry
may be analyzed by solution as Utility Billing and Customer Information System,
Demand Response Management, Carbon Energy Management. The market may be
analyzed by vertical as Telecom and IT, Power and Energy, Manufacturing,
Municipal, University, Schools and Hospital, and Office and Commercial
Buildings
North America accounted for the major
share of the Energy Management Systems (EMS) Market Size in 2017 and will
continue to lead in the forecast period. The factors that could be attributed
to the growth include rising number of green infrastructures, smart buildings,
rising energy demands, and acceptance of EMS across numerous verticals, such as
energy & power, manufacturing, and construction, mainly in the Canada and
United States. North America is a giant manufacturing center, and the usage of
energy rises, particularly in verticals like paper, chemical, automotive, and
steel manufacturing.
Some of the key players that fuel the
growth of the Energy Management Systems (EMS) industry comprise Honeywell,
Schneider Electric SE, Siemens AG, C3 Energy, Johnson Controls, Inc, Elster
Group GmbH, Grid Point, Inc., General Electric, International Business Machines
Corporation, ABB Group, Toshiba Corp, Daintree Networks, Emerson Process
Management, Daikin Industries Ltd, and Jones Lang LaSalle. The leading
companies are taking up partnerships, mergers and acquisitions, and joint
ventures in order to boost the inorganic growth of the industry.
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