The new report by Expert Market Research titled, ‘Global Energy Management Systems Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global energy management systems market, assessing the market based on its segments like type, component, solution, services, industry, and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
- Forecast CAGR (2021-2026): 14%
- Forecast Market Size (2026): USD 94 billion
The market for energy management systems has seen substantial growth due to factors such as rising Fluctuations in commercial energy prices, which increase the need for energy efficient systems in daily industrial operations,. Also, increased knowledge across different industries offers an enormous market opportunity for key players in the energy management systems market. Due to the increasing inclination to achieve energy efficiency, industrial energy management systems are projected to contribute the maximum share of revenue within the forecast period. In the coming years, various market verticals are implementing energy management systems, so the EMS industry is expected to see rapid growth in the forecast era. It is expected that the developing economies in Southeast Asia and the African region will give the EMS market players attractive business opportunities. This is expected to boost the growth of the industry in the coming years. It is expected that increasing technical developments in different industries will support the growth of energy management systems in the sector.
Industry Definition and Major Segments
An energy management system refers to a computer-aided system of software used by power grid operators to track, control, and maximize the efficiency of the generation or transmission system.
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Based on the type, the industry is divided into:
Based on the component, the industry is divided into:
Based on the solution, the industry is divided into:
- Demand Response Management
- Carbon Energy Management
- Utility Billing and Customer Information System
Based on the services, the industry is divided into:
- Monitoring and Control
- Implementation and Integration
- Consulting and Training
Based on the industry, the industry is divided into:
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On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
The growing use of smart grids and smart meters is driving the development of the market. Governments across the globe are concentrating on the modernization of energy grids by introducing smart grid technologies with the rise in energy demand and aging electricity infrastructure. A modernization drive is being pursued by various governments to upgrade their power systems. This facilitates the market for solutions for energy conservation and, ultimately, the development of systems for energy management. In addition, growing implementation of smart grids, strict government regulations to save electricity, technical advances that help capture and track the use of data provide demand drivers for the expansion of industry size. Over the forecast period, these are expected to also fuel market growth.
Key Market Players
The major players in the market are Mitsubishi Electric Corporation, Delta Electronics, Inc., General Electric Company, Schneider Electric SE, ABB Ltd., Honeywell International Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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