The energy management system is an emerging technology that helps organizations gather real-time information on energy utilization through visualizing, accessing, and monitoring energy consumption. Energy management systems are gaining immense popularity as they offer companies a competitive advantage, reduce energy costs, and enhance productivity.
Rising awareness along with the growing benefits of energy management system solutions across residential, commercial, and industrial properties is one of the primary factors fuelling the growth of the global energy management system (EMS) market. Also, the companies with high power requirements are adopting such solutions to save on power and cost. The growing utilization of renewable energy sources like solar panels will vigorously accentuate the demand for energy management system solutions globally. Moreover, the growing number of reliable information technology platforms for optimizing and controlling the available resources to offer relevant data that can be customized for corrective action and better monitoring of energy-efficient solutions is further likely to escalate the growth of the market in the forthcoming years. Manufacturers are increasingly investing in boosting research and development activities to innovate products like multi-network integration of SCADA to offer enhanced products to the commercial sector. The ongoing technological advancements in energy management system solutions like small-signal analysis are also boosting the adoption of energy-efficient systems as they help in reducing carbon footprints. All these factors will collectively accentuate the growth of the market globally.
The global energy management system (EMS) market can be segmented into end-users, verticals, solutions, components, products, and regions.
By end-users, the market can be segmented into commercial and residential.
By verticals, the market can be segmented into healthcare, retail offices, manufacturing, IT & telecom, power & energy, and others.
By solution, the market can be segmented into utility & customer information systems, demand response management, carbon energy management, and others.
By components, the market can be segmented into display devices, batteries, software controllers, sensors, and others.
By products, the market can be segmented into the home, building, and industrial energy management system.
North America accounts for the largest share in the global energy management system (EMS) market due to the presence of a well-established infrastructure network of energy management systems in the region. The growing adoption of such solutions due to the surging awareness among people regarding its benefits will further promulgate the growth of the regional market.
Some of the significant players in the global energy management system (EMS) market are Ecobee, Nest Labs, Honeywell, Atmel, Netatmo, Energate, Comverge, Elster, Eaton, EcoFactor, Honeywell, Tendril, CA Technologies, Itron, IBM, General Electric, and Siemens. To cite, Schneider Electric has launched EcoStruxure. It is an interoperable architecture and IoT-enabled platform to control and manage energy in buildings.