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Energy Management System Market Size & Share To Rise At 17.1% CAGR, To Reach USD 117.83 Billion By 2025 | Grand View Research, Inc.

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Energy Management System Market Size & Share To Rise At 17.1% CAGR, To Reach USD 117.83 Billion By 2025 | Grand View Research, Inc.

March 08
06:55 2021
Energy Management System Market Size & Share To Rise At 17.1% CAGR, To Reach USD 117.83 Billion By 2025 | Grand View Research, Inc.

“Grand View Research, Inc. – Market Research And Consulting.”
The EMS industry is expected to show promising growth over the coming years across a number of industries, as per a report by Grand View Research. The increasing use of renewable energy sources such as solar panel systems in residential and commercial areas is expected to increase the demand for EMS solutions.

The global energy management system market size is projected to reach USD 117.83 billion by 2025, progressing at a substantial CAGR of 17.1% over the forecast period, according to a study conducted by Grand View Research, Inc. Energy management system (EMS) implies the use of computer-aided tools by electric utility grid operators for the purpose of controlling, monitoring, and optimization of the generation or transmission system performance. The global drive for developing smart cities, particularly in the emerging economies, is expected to hold the key for energy management system market growth. The installation of individual energy meters in problem areas and creation of an interactive communication program among end users are likely to further lead to enhanced monitoring of the transmitted data.

Generally, an EMS includes devices, sensors, and meters that measure and monitor energy consumption and other factors related to them. These devices then transmit data over wireless networks to a centrally-located server where an interactive application helps users in analyzing the information, based on which the grid performance can be optimized. Numerous EMS vendors provide hardware, software, and consulting support to keep the program running. Furthermore, energy meters having the ability to operate on an open protocol, such as MODBUS, can enable customers to not be dependent on any particular hardware or software vendor. With the continued push for the adoption of renewable energy sources globally, their price decrease will play an important role in reducing manufacturing costs.

The energy management systems market can be broadly segmented on the basis of product (Industrial Energy Management Systems (IEMS), Building Energy Management Systems (BEMS), and Home Energy Management Systems (HEMS)); component (sensors, controllers, batteries, software, and display devices, among others); solution (carbon energy management, demand response management, and utility billing and customer information system); and end-use (residential or commercial). The major industry verticals implementing EMS in their setup include energy and power, IT and telecom, office and retail, healthcare, and manufacturing, among others. Companies such as Honeywell Inc, Schneider Electric, and Siemens AG have held substantial shares in the global market, with other notable competitors being C3 Energy, General Electric, Emerson Process Management, Daikin, ABB, Toshiba, and Johnson Controls

Energy Management System Market Report Highlights

• A white paper titled ‘The new era of energy management’ released by ABB outlined the importance of smart energy management systems for organizations; it stated that smart EMS aids in up to 45% reduction in energy consumption, up to 20% savings on energy bill, and up to 20% reduction in maintenance costs

• With advancements in latest technologies in EMS, such as small signal analysis, there has been an increase in the adoption of energy-efficient systems and a corresponding decrease in carbon footprint

• The software segment is anticipated to grow at the highest CAGR of 18.0% through 2025 in the EMS market, aided by companies such as Ecova and BuildingIQ developing sector-specific software platforms to help organizations run algorithms for optimized solutions

• The HEMS product segment in energy management system market is anticipated to grow at the highest CAGR of 19.4% through 2025, owing to increasing adoption of HEMS for curtailing carbon emissions

• The demand response management segment is expected to witness the fastest growth over the forecast period in the EMS industry, which can be attributed to the increasing adoption of DRMS for scheduling, monitoring, and controlling Distributed Energy Resources

 • Increasing demand for EMS in power generation and transmission operations is expected to fuel the power & energy segment growth over the forecast period; the office and retail segment is expected to show highest demand for EMS solutions through 2025

• EMS are widely used in commercial buildings as it collects energy usage data and monitors equipment for maintenance needs, thus ultimately aiding in reducing overall operating costs

• The Asia Pacific region is expected to witness the fastest growth through 2025 and the regional EMS market size is valued at USD 29.13 billion, owing to high number of effective energy management solutions in economies such as India and China

• The Middle East and Africa region has also witnessed great strides in the EMS industry, with critical economies such as Saudi Arabia and South Africa framing importance regulations in recent years to drive energy-efficient practices among regional industries

• Improved features such as product maintenance services and analyzing software analytics by expert consultants are a few key factors expected to drive the growth of energy management system industry

• In February 2021, Schneider Electric showcased its Wiser Energy Monitor, Square D Energy Center, and new connected wiring device ranges at the International Builders’ Show, which are targeted towards developing safe and sustainable homes through enhanced energy control

• In January 2021, ABB completed the delivery of medium- and low-voltage digital solutions for the expansion of the Shanghai Bailonggang Wastewater Treatment Plant, which is the largest sewage treatment plant in Asia

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Energy Management System Market Segmentation

Grand View Research has segmented the energy management system market on the basis of product, component, solution, vertical, end use, and region:

Energy Management Systems Product Outlook (Revenue, USD Billion; 2014 – 2025)
    • Industrial Energy Management Systems (IEMS)
    • Building Energy Management Systems (BEMS)
    • Home Energy Management Systems (HEMS)

Energy Management Systems Component Outlook (Revenue, USD Billion; 2014 – 2025)

    • Sensors
    • Controllers
    • Batteries
    • Software
    • Display Devices
    • Others

Energy Management Systems Solution Outlook (Revenue, USD Billion; 2014 – 2025)
    • Carbon Energy Management
    • Demand Response Management
    • Utility Billing and Customer Information System

Energy Management Systems Vertical Outlook (Revenue, USD Billion; 2014 – 2025)
    • Power & Energy
    • Telecom & IT
    • Manufacturing
    • Retail & Offices
    • Healthcare
    • Others

Energy Management Systems End Use Outlook (Revenue, USD Billion; 2014 – 2025)
    • Residential
    • Commercial

Energy Management Systems Regional Outlook (Revenue, USD Billion, 2014 – 2025)
    • North America
        • The U.S.
        • Canada
        • Germany
        • The U.K.
    • Asia Pacific
        • China
        • India
        • Japan
        • Indonesia
        • Singapore
        • Thailand
        • South Korea
        • Malaysia
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa

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Browse More Related Report:

Energy ESO Market: The global energy ESO market size was valued at USD 194.10 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 18.8% from 2020 to 2027.

Home Energy Management Systems Market: The need to achieve energy efficiency is the primary factor that is expected to drive the home energy management systems market growth over the next few years.

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

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