About Energy Management Systems
The global Energy Management market is estimated for the growing demand in the future period because of rising applications including lighting controls, HVAC controllers, programmable thermostats, and self-monitoring systems. An energy management system is a technology platform containing both hardware and software which enables end-users to track energy utilization and output and manually control and also automate energy use across commercial and industrial sectors. This is very helpful for the management of the power utilization that automatically decreases the utility bill. This system provides relevant information that makes energy performance visible to various levels of any company.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market is fragmented by key major players and those are highly focusing on the production of the new technologies, which helps in improvement of efficiency and product life. With the increasing number of opportunities is captured by market-leading players through tracking the ongoing process development and financial flexibility to invest in business strategies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Energy Management Systems market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ABB (Switzerland), C3 Energy (United States), CA Technologies (United States), Cisco Systems (United States), Eaton Corporation (Ireland), Honeywell (Elster Group) (United States), Emerson Electric Company (United States), Tendril Networks, Inc. (FirstFuel Software) (United States), General Electric Company (United States) and Gridpoint (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are EcoFactor (United States), Energate (Canada) and Schneider Electric (France).
Segmentation Overview
AMA Research has segmented the market of Global Energy Management Systems market by , Application (Home Energy Management System and Building Energy Management System) and Region.
On the basis of geography, the market of Energy Management Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industry Verticals, the sub-segment i.e. Power and Energy (P&E) will boost the Energy Management Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Software, the sub-segment i.e. Utility Energy Management System will boost the Energy Management Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Devices, the sub-segment i.e. In-House Display will boost the Energy Management Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technology Advancement in Energy Management Systems
Market Growth Drivers:
Enhancement in Energy Consumption and Price Instability, High Growth in Government Regulations and Policies, Rising Awareness Related to Carbon Footprint Management, Increasing Inclination Towards Efficient Energy Management and Rising Concern Towards Corporate Responsibility and Brand Image
Challenges:
Complexity in Structuring of Initial Data Gathered
Restraints:
Required Huge Initial Cost of Deployment
Opportunities:
Transformation of Aging Infrastructure, Increasing Number of Government Funding for the Smart Cities Projects in Emerging Economies, Incorporation of Energy Management Systems with Smart Devices and Rising Opportunities in The Home Energy Management Segment
Market Leaders and their expansionary development strategies
In Mar 2020, ABB revealed the evolution towards e-mobility by launching its Terra AC wallbox. This is designed to handle the growing demand connected charging homes and businesses. This system also supports the enhancing generation of renewable energy to manage the consumption of their power.
In Nov 2019, Johnson Controls announced the acquisitions of the EasyIO Building and Energy Management System product line. Through this initiative, the company is focusing on enhancing its operations in Asia, Australia, Europe, and North America. This agreement provides value-added building automation systems to the company portfolio.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analyst and Strategic Business Planners, Energy Management Systems Providers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.