BANGALORE, India, Nov. 10, 2020
BANGALORE, India, Nov. 10, 2020 /PRNewswire/ -- A new Energy Management System Market Research Report published on Valuates Reports in Energy & Utilities Category. The report contains segmentation Based on Device (In-House Display, Load Control Switches, Smart Plugs, and Smart Thermostats), Based on Software (Enterprise Carbon and Energy Management, Residential Energy Management System, and Utility Energy Management System), Based on Solution (Carbon Management System, Demand Response Management, and Utility Billing and Customer Information System), Based on Application (Building Energy Management System and Home Energy Management System). It also covers Global Opportunity Analysis and Industry Forecast to 2025.
The Global Energy Management System Market size is expected to grow from USD 51,852.87 Million in 2019 to USD 95,766.99 Million by the end of 2025 at a CAGR of 10.76%.
Major factors driving the growth of Energy Management System Market size are increasing adoption of smart grids, stringent government regulations to conserve energy, technological developments that help collect and monitor data usage, and the increasing renewable energy usage.
The report explores the recent significant developments by the leading vendors and innovation profiles in the Global Energy Management System Market. It also provides an exhaustive assessment of Energy Management System Market size shares, strategies, products, and manufacturing capabilities of the leading players.
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TRENDS INFLUENCING THE ENERGY MANAGEMENT SYSTEM MARKET SIZE
The increasing upgradation of power grids to smart grids is expected to drive the Energy Management System Market size. With simple integration and reliable service for customers, smart grid systems offer greater utility to save electricity. Smart power meter data allows customers the ability to automate billing data collections and identify system failures. In smart grids, intelligent systems can determine when to use energy based on consumer pre-set preferences. This helps to reduce peak loads that affect electricity generation costs.
Strict government policy towards energy efficiency is expected to increase the growth of the energy management system market size. Energy conservation initiatives are used in most of the developed and emerging economies. Different government regulations have been introduced in recent years to adopt cost-effective, safe sources of energy as an alternative to conventional sources of energy.
The growth of the Energy Management System Market size is driven by the ever-growing number of reliable information technology platforms. Technology platforms help manage and leverage the resources available to provide personalized data for corrective actions and better monitoring of energy-efficient solutions.
Furthermore, the growing usage of renewable energy sources, such as the use of solar panel systems in residential and commercial areas, is expected to increase the Energy Management System Market size.
The rapid growth of the well-organized retail and healthcare industries has, in turn, increased the growth of the energy management system market size. In addition, because of the rapid commercialization of innovative products such as the multi-network integration of SCADA and so on, investments in these sectors are expected to increase.
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ENERGY MANAGEMENT SYSTEM MARKET SHARE ANALYSIS
Based on Device, the in-house display system segment held the largest Energy Management System Market share in 2017. In-house displays provide a visual indication of the amount of energy used in a house at any given time, along with the cost.
Based on the region, North America is expected to hold the largest Energy Management System Market share. This dominance of North America is attributed to the well-established infrastructure network and widespread adoption of EMS across verticals such as manufacturing, retail, electricity, and other industries.
During the forecast period, Asia Pacific is expected to witness the highest growth during the forecast period. The rapid industrialization, rebates, and tax incentives from different governments across the region, especially in China and India, are expected to be the major drivers for the growth of the Energy management market size in the Asia-pacific region.
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ENERGY MANAGEMENT SYSTEM MARKET SEGMENTATION & COVERAGE
This research report categorizes the Energy Management System to forecast the revenues and analyze the trends in each of the following sub-markets:
Based on Device, the Energy Management System Market studied across
Based on Software, the Energy Management System Market studied across
Based on Solution, the Energy Management System Market studied across
Based on Application, the Energy Management System Market studied across the
Based on Geography, the Energy Management System Market studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas region surveyed across Argentina, Brazil, Canada, Mexico, and the United States. The Asia-Pacific region surveyed across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, South Korea, and Thailand. The Europe, Middle East & Africa region surveyed across France, Germany, Italy, Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, United Arab Emirates, and the United Kingdom.
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