Energy Management System Market to Reach $113,476.9 Million by 2023 - Emerson, IBM, Eaton, GE Middle East & North Africa

Energy management system market is expected to reach $113,476.9 million by 2023. Stringent government policies and regulations, favorable government support in the form of incentives, volatility of electricity prices, and rising adoption of EMS in building automation are the major factors driving market growth.

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Based on offering, the service category is expected to continue holding the larger share in the energy management system market in the coming years, owing to the growing need for the proper implementation and integration of the equipment associated with EMS in commercial and residential buildings, globally. Increasing demand of building owners to exercise total control over the EMS and monitor the energy demand of their premises and rising awareness regarding energy management are the key factors driving the growth of the service category in the market.

Based on component, software contributed the largest revenue, of around 24%, to the energy management system market in 2017. End users are increasingly purchasing software to reduce energy costs. Besides, market players are offering various kinds of software to track and reduce energy use in an efficient manner. Companies such as IBM Corporation and Siemens AG offer software tools for utility, industrial, and carbon energy management; this helps the system to provide real-time information and control to the user.

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Energy Management System market competitiveness

Schneider Electric SE, Siemens AG, Honeywell International Inc., and Johnson Controls International PLC led the energy management system market in 2017. Among these players, Schneider Electric SE held the largest market share. With the acquisition of Areva T&D (Areva’s medium voltage distribution division) in June 2010, Schneider Electric SE became the global leader in medium-voltage and grid automation, which, in turn, consolidated its position in the energy management system market.

Companies in the energy management system market are adopting various growth strategies, including product launches, acquisitions, and collaborations, to expand their market share and consumer base. Some of the other key players operating in the global energy management system market are Emerson Electric Co., IBM Corporation, Eaton Corporation PLC, Cisco Systems Inc., ABB Ltd., and General Electric Company.

Global Energy Management System Market Segmentation
Market Segmentation by Offering
• System
• Service
o Monitoring and control
o Implementation and integration
o Maintenance
o Consulting and training
o Installation
Market Segmentation by Component
• Control Systems
• Communication Systems
• Software
o Utility EMS
o Industrial EMS
o Residential EMS
o Enterprise carbon and energy management
o Others (energy modeling; ICT power management; and energy trading and risk management)
• Other Hardware
• Field Equipment
• Sensors
Market Segmentation by Device
• In-House Display
• Smart Thermostats
• Smart Plugs
• Load Control Switches
Market Segmentation by Solution
• Carbon Energy Management
• Demand Response Management
• Utility Billing and Customer Information System
Market Segmentation by Vertical
• Power and Energy
• Telecom and IT
• Manufacturing
• Office and Commercial Buildings
• Education
• Retail
• Healthcare
• Residential
• Others (Hospitality; Banking, Financial Services, and Insurance [BFSI]; and Government)
Market Segmentation by Application
• Industrial Energy Management (IEM)
• Building Energy Management (BEM)
• Home Energy Management (HEM)
Market Segmentation by Geography
• North America Energy Management System Market
o By offering
o By component
o By device
o By solution
o By vertical
o By application
o By country – U.S. and Canada
• Europe Energy Management System Market
o By offering
o By component
o By device
o By solution
o By vertical
o By application
o By country – Germany, France, U.K., Italy, Spain, and Rest of Europe
• Asia-Pacific (APAC) Energy Management System Market
o By offering
o By component
o By device
o By solution
o By vertical
o By application
o By country – Japan, China, India, South Korea, Australia, and Rest of APAC
• Latin America (LATAM) Energy Management System Market
o By offering
o By component
o By device
o By solution
o By vertical
o By application
o By country – Brazil, Mexico, Argentina, and Rest of LATAM
• Middle East and Africa (MEA) Energy Management System Market
o By offering
o By component
o By device
o By solution
o By vertical
o By application
o By country – South Africa, U.A.E., Saudi Arabia, and Rest of MEA

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This release was published on openPR.