Global Energy Management Systems Market - 2019-2026
The global Energy Management Systems Market expected to reach $XX billion by 2026, at a CAGR of over 10% during the forecast period. Factors such as increased investments for smart cities globally and modernization of aging infrastructure will further result in for double digit growth in global market over the forecast period
The Energy Management Systems Market line or anchor rode is the means of connecting the anchor on the seafloor to a large ship or a floating structure at the surface. The mooring line is also called mooring wire, anchor rode, mooring chain, mooring rope, mooring hawser or mooring warp. The continuous exploration of the offshore sector due to the increasing demand for energy and the growth of deeper and more complex subsea installations will further fuel growth in the market.
The report covers all the major trends and drivers playing a vital role in the growth of the global Energy Management Systems Market. The global Energy Management Systems Market has been segmented based on region, services, and application.
The global Energy Management Systems Market growth is primarily driven by growing need for rapid advancements in technology for efficient energy procurement and energy usage. Therefore, helping in gaining competitive advantage and increasing productivity at a reduced energy cost. Moreover, strict government mandates and regulations with the objective to reduce carbon footprint along with increasing demand for electricity will stimulate the product installation.
In addition, one of the key drivers of increasing global electricity demand is urbanization. Tremendous growth in urbanization, especially in developing countries like India, China, and Brazil where new buildings in urban areas will increase electricity consumption, especially through demand for air conditioning and ventilation in such hot and tropical environments. According to National Bureau of statistics China in 2018, the commercial building space sold in the region is increased from 157 million sq. meters in 2016 to 169.407 million sq. meters in 2017 and the residential buildings increased form 137.58 million sq. meters in 2016 to 144.788 million square meters in 2017, and these expected consistently during the forecast period.
With rising urbanization and industrialization in developing, end-user will require Energy management systems. EMS helps building owners to monitor and control various systems in the building such as heating, cooling, elevator, lighting, among others efficiently. Therefore, reducing energy consumption and saving money for the end-users. Growing awareness about benefits of EMS among end-users coupled with rapid urbanization will further boost the market over the forecast period.
Market Segment Analysis
Based on services, the global Energy Management Systems Market can be classified into Monitoring & Control, Implementation & Integration, Maintenance, and Consulting & Training. In 2018, Monitoring & Control segment accounted for the majority share in the market and was expected to retain its dominant position over the forecast period. However, consulting and training segment is expected to post highest CAGR during the forecast period. Moreover, the enhancing the long-term benefits of energy efficiencies especially in emerging economies such as southeast Asian and African regions is anticipated to drive the market growth of consulting & training related services.
Based on application, the global Energy Management Systems Market can be classified into Building EMS, Home EMS, and Industrial EMS. In 2018, Building EMS accounted for the major share in the market. EMS helps office spaces and other commercial buildings for reduction of their operating costs. In addition, growing focus toward monitoring and controlling load fluctuation, and equipment performance coupled with rapid urbanization is expected to drive the segment growth over the forecast period.
By geography, the global Energy Management Systems Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
In 2018, North America accounted for the majority share in the market. The government has been actively involved with the energy efficiency and management standards for the residential sector, while the public and investor-owned utilities are also considering reducing the energy cost and consumption as a major priority factor in their management strategies. In addition, rapid infrastructural development in the region will play a pivotal role in the growth of the global EMS market. For instance, In Mexico, government plans to open SEZ across the country to promote economic growth in the region which will further increase the demand for EMS. Government expects to attract investments from various sectors, including processing, agribusiness, oil and gas, manufacturing, technological innovation and development and logistics during the forecast period. Accordingly, the government has identified 95 potential projects with investments worth more than US$5 billion that could be developed in these SEZs by 2020.
APAC is expected to post higher CAGR over the forecast period. The growth in the industry is mainly due to rapid industrialization, highly flourishing residential and commercial building sectors and growing middle class population and spending power coupled with rising awareness for EMS, that leads to the increasing demand for EMS in the region. Besides, India and China are the two most populated countries of the world and has been witnessing rapid urbanization. Construction in these countries is at all time high because of the majority of the population moving to urban areas. This shift will require more residential and commercial building construction, therefore, fueling growth in the EMS market in the region.
Global Energy Management Systems Market is moderately fragmented with the presence of global and regional players in the market. The market players in the Energy Management Systems Market are focusing on expanding through strategic interventions, such as acquisitions, and collaborations in the Energy Management Systems Market.
Some major players in the market are ABB Group, Cisco Systems, Inc., General Electric Company, Honeywell International, IBM Corporation, Schneider Electric SE, Siemens AG, CA Technologies, Eaton Corporation, Emerson Electric Company, and among others.
In 2018, GE Power Grid Solutions, along with Tata Power Delhi Distribution (Tata Power-DDL), announced it has launched Advanced Distribution Management System (ADMS) to modernize and enhance the area’s grid.
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**The global Energy Management Systems Market report would provide access to an approx., 92 market data table,76 figures, and 188 pages.
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