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Energy Management System Market Report

RA00134

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

RA00134

Pages: 250

Feb 2020

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Impact of covid-19 on Energy Management System Market

Global Industry Insights of Energy Management System, 2026:

Energy management system marketaccounted for $31,966.1 Million in 2018 and is predicted to grow by generating a revenue of $83,784.3  Million by 2026 with a CAGR of 12.8% over the forecast period.North America accounted for $8,630.8 million in 2018 and is predicted to grow with a CAGR of 13.0% during the forecast period. Rise in the awareness about energy management system is predicted to be the major driving factor for the growth of this market.

Energy management systemis a computer aided application used to optimize the electricity utility grid operator to control, monitor and optimize the performance of production. Energy management is one of the best solutions for immediate and direct reduction of energy consumption. The objective of the energy management system is resource conservation and cost saving.

Driving Factors: Increasing awareness about energy management system is predicted to be the major driving factor for the growth of the market

The market has witnessed a considerable growth due to the rise in the awareness and the benefit of implementing energy management systems. Reliable information for controlling and optimizing available resources provides relevant data for taking corrective action and monitor work 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.

Market Restraint: Installation cost of energy management system is very high which is considered to be a major restraint for the market

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

Industrial type segment is predicted to have the highest market share during the forecast period. Industrial typeaccounted for $15,343.7 million in 2018 and is predicted to grow with a CAGR of 12.2% over the forecast period. In industrial sector there should be close monitoring of work performed by the worker on a daily basis. Energy management systems not only decrease the company’s overall operating expense but also help the business to reduce the energy cost. This is predicted to drive theIndustrial energy management segment during the forecast period.

Commercial end use segment is predicted to have the highest market share during the forecast period. Commercial end use segmentaccounted for $23,143.5 million in 2018 and is predicted to grow with a CAGR of 12.5% during the forecast period.Commercial sector uses energy management system to identify trouble with security, monitoring work and maintaining the needs of the organization, control HVACR and lighting schedule and many more.

Manufacturingend use vertical is predicted to have the highest market share during the forecast period. Manufacturingend use vertical accounted for $9,430.0 million in 2018 and is predicted to grow with a CAGR of 12.6% during the forecast period. Energy Management System in manufacturing sector systematically captures the energy fluctuation and serves as a monitoring system to strategically improve the energy efficiency. It helps the user by providing a visualization of the energy consumed throughout the organization, which includes building and manufacturing operation in detail. Due to these reasons manufacturing market vertical is predicted to boost the Energy Management System market in the forecast period.

North America region market is predicted to have the highest growth rate during the forecast period. North America accounted for $8,630.8 million in 2018 and is predicted to grow with a CAGR of 13.0% during the forecast period.The growing economy and massive investment by major tech companies are expected to drive the Energy Management System market across the region in the forecast period. Asia-Pacific accounted for $10,357.0 million in 2018 and is predicted to grow with a CAGR of 12.6% in the forecast period. Asia-Pacific region market is predicted to grow due to the stringent government regulation towards improving manufacturing capabilities through smart solutions, growing urbanization and increase in the industrial segment.

Key Participants in the 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 Power, Toshiba Corporation, and IBM among others.

Porter’s Five Forces Analysis for Energy Management System Market:

  • Bargaining Power of Suppliers: The switching cost from one supplier to another is projected to be high.The bargaining power of suppliers is very High.

  • Bargaining Power of Consumers: In this market, the concentration of buyers is High. The bargaining power of consumers is Low.

  • The threat of New Entrants: Huge initial investments are essential to start a new Energy Management System. The threat of new entrants is High.

  • The threat of Substitutes: This market has a numerous alternatives of products; moreover, technology also offers high switching costs for clients. The threat of substitutes is High.

  • Competitive Rivalry in the Market: The Energy Management Systemhas lesser number of companies. Many major players are following several strategies, and product differentiation among them. The competitive rivalry in the industry is Low

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 Type

  • Home Energy Management
  • Building Energy Management
  • Industrial Energy Management

  Segmentation by End Use

  • Residential
  • Commercial

  Segmentation by End Use Vertical

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

  Key Countries Covered

U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, China, Japan, India, Australia, South Korea, Rest of Asia-Pacific, Latin America, Middle East Africa, Rest of LAMEA

  Key Companies Profiled

  • C3 Energy
  • Emerson Process Management
  • Honeywell International Inc.
  • Schneider Electric S.E
  • DEXMA,
  • General Electric Company
  • Tata Power
  • 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.

A. The global energy management system market size was over $31,966.1 million in 2018, and is predicted to grow with a CAGR of 12.8% over the forecast period

A. IBM and Emerson Process Management 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. North America regionfor energy management system market is projected to grow at 12.6% CAGR during the forecast period

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

A. IBM is the company investing more on R&D activities for developing new products and technologies

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model

1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.Type trends
2.3.End-Use trends
2.4.End use vertical trends

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Strategic overview

4.Energy Management System Market, by Type

4.1.Home Energy Management

4.1.1.Market size and forecast, by region, 2019-2026
4.1.2.Comparative market share analysis, 2019-2026

4.2.Building Energy Management 

4.2.1.Market size and forecast, by region, 2019-2026
4.2.2.Comparative market share analysis, 2019-2026

4.3.IndustrialEnergy Management 

4.3.1.Market size and forecast, by region, 2019-2026
4.3.2.Comparative market share analysis, 2019-2026

5.Energy Management System Market, by End use

5.1.Residential 

5.1.1.Market size and forecast, by region, 2019-2026
5.1.2.Comparative market share analysis, 2019-2026

5.2.Commercial 

5.2.1.Market size and forecast, by region, 2019-2026
5.2.2.Comparative market share analysis, 2019-2026

6.Energy Management System Market, by End use Vertical

6.1.Energy  & Power

6.1.1.Market size and forecast, by region, 2019-2026
6.1.2.Comparative market share analysis, 2019-2026

6.2.Telecom & IT

6.2.1.Market size and forecast, by region, 2019-2026
6.2.2.Comparative market share analysis, 2019-2026

6.3.Manufacturing 6.3.1.Market size and forecast, by region, 2019-2026

6.3.2.Comparative market share analysis, 2019-2026

6.4.Healthcare

6.4.1.Market size and forecast, by region, 2019-2026
6.4.2.Comparative market share analysis, 2019-2026

6.5.Others

6.5.1.Market size and forecast, by region, 2019-2026
6.5.2.Comparative market share analysis, 2019-2026

7.Energy Management System Market, by Region

7.1.North Region

7.1.1.Market size and forecast, by End use, 2019-2026
7.1.2.Market size and forecast, by Type, 2019-2026
7.1.3.Market size and forecast, by End use Vertical, 2019-2026
7.1.4.Market size and forecast, by country, 2019-2026
7.1.5.Comparative market share analysis, 2019-2026
7.1.6.U.S

7.1.6.1.Market size and forecast, by End use, 2019-2026
7.1.6.2.Market size and forecast, by Type, 2019-2026
7.1.6.3.Market size and forecast, by End use Vertical, 2019-2026

7.1.7.Canada

7.1.7.1.Market size and forecast, by End use, 2019-2026
7.1.7.2.Market size and forecast, by Type, 2019-2026
7.1.7.3.Market size and forecast, by End use Vertical, 2019-2026

7.1.8.Mexico

1.1.1.Market size and forecast, by End use, 2019-2026
1.1.2.Market size and forecast, by Type, 2019-2026
1.1.3.Market size and forecast, by End use Vertical, 2019-2026

8.2.Europe

8.2.1.Market size and forecast, by End use, 2019-2026
8.2.2.Market size and forecast, by Type, 2019-2026
8.2.3.Market size and forecast, by End use Vertical, 2019-2026
8.2.4.Market size and forecast, by country, 2019-2026
8.2.5.Comparative market share analysis, 2019-2026
8.2.6.UK

8.2.6.1.Market size and forecast, by End use, 2019-2026
8.2.6.2.Market size and forecast, by Type, 2019-2026
8.2.6.3.Market size and forecast, by End use Vertical, 2019-2026
8.2.6.4.Comparative market share analysis, 2019-2026

8.2.7.Germany

8.2.7.1.Market size and forecast, by End use, 2019-2026
8.2.7.2.Market size and forecast, by Type, 2019-2026
8.2.7.3.Market size and forecast, by End use Vertical, 2019-2026
8.2.7.4.Comparative market share analysis, 2019-2026

8.2.8.France

8.2.8.1.Market size and forecast, by End use, 2019-2026
8.2.8.2.Market size and forecast, by Type, 2019-2026
8.2.8.3.Market size and forecast, by End use Vertical, 2019-2026
8.2.8.4.Comparative market share analysis, 2019-2026

8.2.9.Italy

8.2.9.1.Market size and forecast, by End use, 2019-2026
8.2.9.2.Market size and forecast, by Type, 2019-2026
8.2.9.3.Market size and forecast, by End use Vertical, 2019-2026
8.2.9.4.Comparative market share analysis, 2019-2026

8.2.10.Rest of Europe

8.2.10.1.Market size and forecast, by End use, 2019-2026
8.2.10.2.Market size and forecast, by Type, 2019-2026
8.2.10.3.Market size and forecast, by End use Vertical, 2019-2026
8.2.10.4.Comparative market share analysis, 2019-2026

8.3.Asia-Pacific

8.3.1.Market size and forecast, by End use, 2019-2026
8.3.2.Market size and forecast, by Type, 2019-2026
8.3.3.Market size and forecast, by End use Vertical, 2019-2026
8.3.4.Market size and forecast, by country, 2019-2026
8.3.5.Comparative market share analysis, 2019-2026
8.3.6.China

7.1.8.1.Market size and forecast, by End use, 2019-2026
7.1.8.2.Market size and forecast, by Type, 2019-2026
7.1.8.3.Market size and forecast, by End use Vertical, 2019-2026
7.1.8.4.Comparative market share analysis, 2019-2026

7.1.9.India

7.1.9.1.Market size and forecast, by End use, 2019-2026
7.1.9.2.Market size and forecast, by Type, 2019-2026
7.1.9.3.Market size and forecast, by End use Vertical, 2019-2026
7.1.9.4.Comparative market share analysis, 2019-2026

7.1.10.Japan

7.1.10.1.Market size and forecast, by End use, 2019-2026
7.1.10.2.Market size and forecast, by Type, 2019-2026
7.1.10.3.Market size and forecast, by End use Vertical, 2019-2026
7.1.10.4.Comparative market share analysis, 2019-2026

7.1.11.South Korea

7.1.11.1.Market size and forecast, by End use, 2019-2026
7.1.11.2.Market size and forecast, by Type, 2019-2026
7.1.11.3.Market size and forecast, by End use Vertical, 2019-2026
7.1.11.4.Comparative market share analysis, 2019-2026

7.1.12.Australia

7.1.12.1.Market size and forecast, by End use, 2019-2026
7.1.12.2.Market size and forecast, by Type, 2019-2026
7.1.12.3.Market size and forecast, by End use Vertical, 2019-2026
7.1.12.4.Comparative market share analysis, 2019-2026

7.1.13.Rest of Asia Pacific

7.1.13.1.Market size and forecast, by End use, 2019-2026
7.1.13.2.Market size and forecast, by Type, 2019-2026
7.1.13.3.Market size and forecast, by End use Vertical, 2019-2026
7.1.13.4.Comparative market share analysis, 2019-2026

8.4.LAMEA

8.4.1.Market size and forecast, by End use, 2019-2026
8.4.2.Market size and forecast, by Type, 2019-2026
8.4.3.Market size and forecast, by End use Vertical, 2019-2026
8.4.4.Market size and forecast, by country, 2019-2026
8.4.5.Comparative market share analysis, 2019-2026
8.4.6.Latin America

8.4.6.1.Market size and forecast, by End use, 2019-2026
8.4.6.2.Market size and forecast, by Type, 2019-2026
8.4.6.3.Market size and forecast, by End use Vertical, 2019-2026
8.4.6.4.Comparative market share analysis, 2019-2026

8.4.7.Middle East

8.4.7.1.Market size and forecast, by End use, 2019-2026
8.4.7.2.Market size and forecast, by Type, 2019-2026
8.4.7.3.Market size and forecast, by End use Vertical, 2019-2026
8.4.7.4.Comparative market share analysis, 2019-2026

8.4.8.Africa

8.4.8.1.Market size and forecast, by End use, 2019-2026
8.4.8.2.Market size and forecast, by Type, 2019-2026
8.4.8.3.Market size and forecast, by End use Vertical, 2019-2026
8.4.8.4.Comparative market share analysis, 2019-2026

9.Company profiles

9.1.C3 Energy

9.1.1.Business overview
9.1.2.Financial performance
9.1.3.Product portfolio
9.1.4.Recent strategic moves & developments
9.1.5.SWOT analysis

9.2.Emerson Process Management

9.2.1.Business overview
9.2.2.Financial performance
9.2.3.Product portfolio
9.2.4.Recent strategic moves & developments
9.2.5.SWOT analysis

9.3.Honeywell International Inc.,

9.3.1.Business overview
9.3.2.Financial performance
9.3.3.Product portfolio
9.3.4.Recent strategic moves & developments
9.3.5.SWOT analysis

9.4.Schneider Electric S.E.

9.4.1.Business overview
9.4.2.Financial performance
9.4.3.Product portfolio
9.4.4.Recent strategic moves & developments
9.4.5.SWOT analysis

9.5.DEXMA.

9.5.1.Business overview
9.5.2.Financial performance
9.5.3.Product portfolio
9.5.4.Recent strategic moves & developments
9.5.5.SWOT analysis

9.6.General Electric Company

9.6.1.Business overview
9.6.2.Financial performance
9.6.3.Product portfolio
9.6.4.Recent strategic moves & developments
9.6.5.SWOT analysis

9.7.Tata Power

9.7.1.Business overview
9.7.2.Financial performance
9.7.3.Product portfolio
9.7.4.Recent strategic moves & developments
9.7.5.SWOT analysis

9.8.Toshiba Corporation

9.8.1.Business overview
9.8.2.Financial performance
9.8.3.Product portfolio
9.8.4.Recent strategic moves & developments
9.8.5.SWOT analysis

9.9.IBM.

9.9.1.Business overview
9.9.2.Financial performance
9.9.3.Product portfolio
9.9.4.Recent strategic moves & developments
9.9.5.SWOT analysis

 

Small and big industries are considered to be one of the major consumers of electrical energy. Increasing demand for the electrical energy is the call of the hour. However, the market of energy management system are witnessing two main obstacles. They are the insufficiency of energy and the rising cost of electricity. 

This is what made itcrucial for the industries to optimize the usage of energy and keep the cost minimal. Using lesser amount of energy for the same level of activity is another need of the hour for the industries. Energy management is an effective solution for controlling and monitoring the pattern of energy utilization in such companies. This system also helps to take anticipatory and defensive measures.

The energy management system collects, stores and analyzes the data collected from the different remote monitoring devices in order to manage the cost connected with the electrical systems of an institute.

Rising awareness regarding the energy management system is going to be the major driving factor for the market of energy management system in the upcoming years. 

Beneficial factors driving the growth of the market

  • The EMS (Energy Management System) has amazing benefits in cost reduction and energy preservation of any organization. These are the factors enhancing the demand of the product in the global market:

  • Data Collection: An energy database can be created with the help of an EMS. After the energy utility bills are installed into the system manually, the energy database pays the bills online according to a set timeframe. This system ensures a perfect and flawless database of energy consumption and error-free billing system.

  • Energy Information Reporting: In the large scale organizations, EMS can be installed to get theprecisedata regarding the overall energy consumption and expenditure. 

  • Operational Reliability:By installing the energy management system, specific applications such as data centers, HVAC, and manufacturing lines can be monitored and controlled in faster and error-free way and thus reducing the expenditure. EMS offers benefits of operational reliability and increased energy management.

  • Distribution of Energy:With the help of EMS, the sub-meters can be directed to distribute and allocate certain loads of energy to defined areas of the facility in real time. This proves to be helpful for the operators to make the proper load changes on the basis of real time data.

Recent Advancements and News 

According to a recent report , the key players of the global energy management system market include Honeywell International Inc., IBM, Tata Consultancy Services Limited, Toshiba Corporation,C3 Energy, Schneider Electric S.E,General Electric Company,DEXMA, Emerson Process Management and many others.

These market players are adopting several stratagems including new technology, new product launches, current technology upgradation, and merger and acquisition to reach the topmost market position. Here’s a few vignettes:

In May 28, 2019, Schneider Electric announced an investment in AutoGrid, the leading company in flexibility management software for the energy industry. The investment makes Schneider Electric, the leader in the digital transformation of energy management and automation, a major shareholder in AutoGrid. This investment also initiated a co-innovation partnership which is focused primarily on innovating new AI and machine learning solutions for the commercial, utilities, and industrial companies.

Sunpreme Inc. is a solar photovoltaic company based out of US that originates and commercializes advanced photovoltaic solutions. In 2018, the company announced the initiation of a strategic collaboration with Honeywell Process Solutions (HPS), which is a division of Honeywell Inc. The coalition will incorporateSunpreme products with HPS smart connectivity offerings for C&I installations.

According to a recent press release, ABB has introduced a new energy and asset management portfolio--'Give your buildings a new dimension'-- as a part of its initiative for greater energy efficiency through digitization.

The new portfolio assimilates two prevailing energy monitoring solutions-- the CMS-700 circuit-monitoring system, and the EQmatic energy analyzer. It integrates the functionality of both systems with the company's cloud-based ABB AbilityTM Electrical Distribution Control System.

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