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Energy Management System Market, by Offerings

RA00134

Energy Management System Market, by Offerings (System And Service), Component (Sensor, Controller, Software And Others), type (Home Energy Management, Building Energy Management and Industrial Energy Management), End-Use (Residential, Commercial), Vertical (Power & Energy, Telecom & IT, Manufacturing, Enterprises, Healthcare and Others), Regional Outlook (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis And Industry Forecast, 2019–2026

RA00134

Pages: NA

Feb 2020

Global Energy Management System Market Overview 2026:

Energy management systems are the systems of computerized tools which are used by the electric utility grids operators to control, monitor and enhance the performance of production. Energy management systems is a solution that puts users or customers to control and monitor their energy consumption through the energy flow with the help of the respective software. In order to take corrective and preventive steps, energy management system helps to track the different departments that are utilizing high energy. The energy management system is also capable of gathering, processing and analyzing data gathered by various remote monitoring tools to handle the electrical cost associated with electrical system.

Rising awareness is predicted to drive the remote Energy management systems

The market has witnessed a considerable growth due to the rise in the awareness and the benefits by implementing energy management systems. Reliable information for controlling and optimizing available resources provides relevant data for taking corrective action and better monitoring with the help of energy efficient solutions is considered to drive the market. In addition, the rapid growth of well-organized healthcare and retail sector has led to the increase in the demand for the use of energy management systems which is predicted to boost the energy management market in the forecast period.

Installation costing is very high which is considered to be a major restraint for the market

The high cost during the installation and variation of prices of the renewable management system is considered to be the biggest restraint of the market. In addition, due to the variation in the price, companies are shifting their focus towards the commercial energy for completing the operation work with the help of this energy in the industrial procedure. Moreover, lack of availability of stakeholders and limited expertise is predicted to hamper to the growth of the market.

Energy Management System Market, by Offering:

Service segment is considered to be the most profitable segment in the forecast period

Energy management system as a service segment is predicted to grow immensely in the forecast period. The rising use of the energy management as a service helps in increase in mentoring and maintenance of the services provided to the vendor and helps in speeding the implementation and allows the company to focus more on critical business activities

Energy Management System Market, by Component:

Software component is predicted to be most profitable till in the forecast period

Software component is predicted to have the maximum share in the Energy management system in the forecast period. The software component is becoming one of the most important areas for the growth of any organization today. There are numerous types of software to address the issue, which help in the reducing the expenditure and consumption of the companies’ overhead costs. The software component is widely used in HVAC and light controlling systems, utility track billing, real time metering, IT equipment management, Energy audit and carbon and sustainable reporting. The above reasons are predicted to boost the overall market in the forecast period.

Energy Management System Market, by Services:

Monitoring and Controlling services will possess high investment opportunities in the coming future

Monitoring and controlling services in energy management system market are predicted to grow significantly in the forecast period. The main reason for the growth in the monitoring and controlling is that the cost involved after the installation of the system is very less; monitoring and controlling improve the staff wellbeing with respect to their work & facility performance and helps in cost saving. These factors are predicted to give boost the sale of the energy management system market in the estimated period.
 
Energy Management System Market, by Type:

Industrial type is predicted to be most profitable in the forecast period

Industrial type is predicted to have the highest growth rate in the energy management system market during the forecast period. In industrial sector there should be close monitoring of work performed by the worker on a daily basis. For instance, most of the worker in the industrial sector are on daily basis or are in the contractual basis. It is a difficult task to keep a complete track on the task performed by each and every one. Energy management system not only decreases the company’s overall operating expense but also helps the business to reduce the energy cost. These advantages in using energy management system are predicted to drive the market in the forecast period.

Energy Management System Market, by End Use:

Commercial segment is predicted to be most lucrative in the forecast period

Commercial segment in the end use is predicted to have maximum share in the energy management system in the forecast period. Commercial sector uses energy management system to identify trouble with security, monitor and maintain the need of the organization, control HVACR and lighting schedule and many more. With the information regarding theses building process, energy management system allows the management operator to make quick decision with the information they receive with considerable benefits; this is predicted to boost the commercial segment in the energy management system market.

Energy Management System Market, by Vertical:

Manufacturing vertical will possess high investment opportunities in the coming future

Manufacturing vertical of the energy management system market is predicted to have the maximum growth rate in the forecast period. In manufacturing it helps Energy Management System to systematically capture the energy fluctuation and serve as the monitoring system to strategically improve the energy efficiency. It helps the user by providing a visualization of the energy consumed throughout the organization, which include building and manufacturing operation in details. Due to these reasons manufacturing market vertical is predicted to boost the Energy Management System market in the forecast period.

Energy Management System Market, by Region:

North America region will have enormous opportunities for the market investors to grow over the coming years

North America is predicted to have the largest share in the Energy Management System in the forecast period. The growing economy and massive investment by the major tech companies are expected to drive the Energy Management System market across the region in the forecast period. In addition, the presence of large number of companies and manufacturing units in the region is predicted to give boost to the region in energy management system market during the forecast period.

Key Participants in Energy Management System Market:

The major key players in the energy management system market are C3 Energy, Emerson Process Management, Honeywell International Inc., Schneider Electric S.E, DEXMA, General Electric Company, Tata Consultancy Services Limited, Toshiba Corporation, and IBM among others.
 

Aspect

Particulars

  Historical Market Estimations

  2018-2019

  Base Year for Market Estimation

  2018

  Forecast timeline for Market Projection

  2019-2026

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by System

  • System
  • Service

  Segmentation by Component

  • Sensor
  • Controller
  • Software
  • Others

  Segmentation by Service

  • Monitoring & Controlling
  • Implementation & integration
  • Maintenance
  • Consulting & Training

  Segmentation by Type

  • Home energy management System
  • Building Energy Management System
  •  Industrial Management System

Segmentation by End Use

  • Residential
  • Commercial

  Segmentation by Market Vertical

  • Power & Energy
  • Telecom & IT
  • Manufacturing, Enterprises
  • Healthcare
  • Others

  Key Countries Covered

U.S., Canada, Germany, France, UK, Italy, Japan, China, India, South Korea, Australia, Middle west, Africa

  Key Companies Profiled

  • C3 Energy
  • Emerson Process Management
  • Honeywell International Inc.
  • Schneider Electric S.E
  • DEXMA
  • General Electric Company
  • Tata Consultancy Services Limited
  • Toshiba Corporation
  • IBM

 

 


FREQUENTLY ASKED QUESTIONS?
 

A. Emerson Process Management and General Electric Company are some of the key players in the global energy management system market.

A. North America possesses great investment opportunities for the investors to witness the most promising growth in the coming years.

A. Product development is the key strategies opted by the operating companies in this energy management system market.

A. Tata Consultancy Services Limited is the company investing more on R&D activities for developing new products and technologies.

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