Energy Management System (Ems) Market Booming Worldwide With Leading Key Players -Asea Brown Boveri (ABB), Cisco Systems, Inc., General Electric Company, Honeywell International, International Business Machine Corporation, Schneider Electric SE, Siemens A

An energy management system is a system of computer-aided tools utilized to control, monitor, and optimize the performance of the transmission or generation system. In layman's term, it is a database of information related to usage of financial data, energy resources, and other essential factors that aid organizations in controlling, monitoring, and analyzing operations. EMS is used by large enterprises to monitor and track energy usage in their facilities. EMS software helps to assess and build operator's energy consumption targets, analyze consumption trends, and identify and validate opportunities for energy efficient programs, in order to minimize operational and energy costs. Currently, enterprises are required to monitor and analyze their performance in a number of ways.

The global energy management system (EMS) market was valued at US$ 9,224.6 Mn in 2019 and is expected grow at a CAGR of 14.8% during the forecast period (2019-2027).

Market Dynamics- Drivers

Growing demand for energy management systems in commercial sectors is expected to drive growth of the global energy management system (EMS) market during the forecast period
Currently, a number of organizations are facing challenges regarding reducing energy consumption. Increasing pressure to adopt sustainable energy solutions is expected to boost the adoption of energy management solutions in industrial and commercial sectors. Furthermore, energy management solutions help enterprises in minimizing operational costs and greenhouse gas emission, which in turn, is expected to support organizations to invest in energy management solutions, thereby driving growth of the market. For instance, Microsoft Corporation, France has invested in Schneider Electric's energy management solution, in order to expand its operational capabilities and reduce carbon footprint. Furthermore, Adoption of energy management solutions has facilitated reduction of power consumption by 30%.

Constant increase in regulatory obligations and industry guidelines is expected to propel the global energy management system (EMS) market over the forecast period
All resource-intensive industries use vast amounts of raw materials, energy, resources, and water, which eventually leads to significant generation of solid waste, emissions, and effluents. Hence, these industries are often subjected to stringent global and domestic regulations with various plant-level geography compliances. In order to comply with the strict regulatory policies, enterprises are incorporating sustainability management solutions or adopting EMS solutions to ensure reduction in carbon footprint and control on waste generation. For instance, in 2012, Europe Energy Efficiency Directive established a set of rules to reduce energy wastage and to reach a 20% energy efficiency target by 2020. The objective of the directive is to encourage efficient energy consumption at all stages of energy chain and adapt energy sustainability.

Some of the Major Key players profiled in the study are Asea Brown Boveri (ABB), Cisco Systems, Inc., General Electric Company, Honeywell International, International Business Machine Corporation, Schneider Electric SE, Siemens AG, Emerson Electric Company, CA Technologies, Eaton Corporation

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Market Opportunities

Emergence & growing adoption of cloud computing is expected to present lucrative business opportunities
Cloud computing has been vastly adopted in numerous industries though its potential remains untapped in the energy management solutions. Cloud-based technology presents various benefits of updating software in real-time thereby enabling users to utilize the data more efficiently. In EMS, organizations are increasingly adopting cloud-based software to gain significant benefits such as robustness, scalability, low cost, user-friendly access, and granular level analysis of energy consumption. These solutions can assist companies to generate more efficient reports, improve their performance, and achieve better return on investment. Hence, growing adoption of cloud-based EMS is expected to present excellent growth opportunity for market players.

Delivering end-to-end customer experience to pose significant business opportunity
Energy management solutions provider can capitalize on untapped potential by offering end-to-end customer experience. SMEs are increasingly demanding software solutions that are convenient, simple, and offer value for money. By delivering, choices in buying options, EMS vendors can gain competitive edge in the market. Offering an end-to-end customer experience in line with industry standards and showing progressive elaboration with the service with respect to technology, processes, and service levels can help vendors to expand SME consumer base.

Market Trends

Growing adoption of Internet of Things (IoT) is major trend in the market
Various organizations are adopting IoT solutions, in order to enhance existing EMS facilities. Currently, building lighting systems can be integrated with IoT with the installation of simple controls and attain greater benefits such as understanding exact consumption of energy with real-time data thereby assisting in energy management and monitoring.

Proliferation of smart meters to understand exact consumption of energy is another major trend
Many countries are increasingly adopting smart meters, in order to facilitate clear reading of energy consumption. For instance, according to the U.K. Government, in September 2016, 4.9 Mn smart and advanced meters were operating in businesses and homes across Great Britain, and the country. In November 2016, BEIS Published an updated Cost-Benefit Analysis of the rollout - smart meters are set to deliver significant net present value benefits to consumers, projected at US$ 6.1 Bn over the lifetime of the program.

The oil and gas vertical is accounted for 27.8% in 2019 and is expected to grow at a CAGR of 15.3% during the forecast period.

Key Developments

Key companies in the market are focused on joint ventures, in order to enhance their market presence. For instance, in February 2017, Siemens AG entered into a joint venture named egrid to commercially implement the results from IREN2 and IRENE and, two joint smart grid research projects in Wildpoldsried.
Major market players are involved in forming strategic alliances with other companies, in order to gain competitive edge in the market. For instance, in February 2017, Honeywell International, Inc. entered into a strategic alliance with Denmark's largest retailer, Coop Denmark. The project aims to reduce energy consumption by 20% by 2020 and achieve mandated carbon reduction goals. The company's energy solutions help Coop Denmark to lower energy consumption, minimize operational costs, and track returns on energy-saving measures, which is in line with Denmark's goal to be the world's first carbon-neutral capital by 2025.

Region Segmentation
North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Other)
Asia Pacific (China, Japan, India, Korea, Southeast Asia)
Europe (Germany, UK, France, Spain, Italy)
Middle East and Africa (Middle East, Africa)

Energy Management System (Ems) Segmentation by Type:

In-House Display, Smart Thermostats, Smart Plugs, Load Control Switches.

Energy Management System (Ems) Segmentation by Application:

Home Energy Management, Building Energy Management

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The hardware segment by component is expected to occupy the largest market share from 2022 to 2027
Based on the component, hardware is estimated to be the largest market from 2020 to 2027. A large variety of energy monitoring hardware devices are available with communication, sensing technology, and machine learning algorithm applications. The hardware components of energy management systems include in-house displays, meters, thermostats, load control switches, sensors, and smart plugs. Some of the ancillary devices are also a part of the hardware component of EMS. The hardware is an important component upon which the software component is dependent. Also, the hardware costs much higher than the software and services, due to which it occupies a larger share in the market. In conclusion, an increase in the development of digital technologies, especially in residential sectors of North America, is further fueling the demand for energy management systems.

Home energy management systems by type is projected to emerge as the fastest-growing segment for energy management systems market
Based on the type, home energy management systems is projected to hold the highest CAGR during the forecast period. Under a robust smart grid concept, a modern home equipped with HEMS contributes significantly toward efficiency improvement, economizing energy usage, reliability, as well as conserving energy for distributed systems. Water heaters, refrigerators, and clothes dryers are major energy consumers and are responsible for about 18% of all homes' energy use. Many of the technologies designed to improve whole-building energy performance can also be used to increase the efficiency of these appliances. Regions such as North America and Europe are already well versed with the concept of home energy management systems, whereas the developing countries, especially the Asia Pacific, are aiming to achieve 100% electrification and, as a result, are working extensively toward the adoption of these technologies.

The manufacturing industry, by end-user industry, is expected to occupy the largest market share from 2022 to 2027
By end-user industry, the manufacturing industry accounted for the largest market share during the forecast period from 2022 to 2027. The benefits of energy management are not only limited to economic savings but also include significant emissions reduction. Manufacturers need to ensure they are minimizing energy usage while maximizing its utility. Manufacturing companies can resolve these challenges and make more informed decisions by knowing how much energy each piece of machinery uses and what power level will lead to optimal functioning. Therefore, energy management systems are essential for successful digitalization and the development of smart factories based on real-time data from sensors and IoT devices.

North America is expected to dominate the market during the forecast period.
The North America region is expected to be the largest region in the energy management systems market during the forecast period. The growing focus to modernize the grid, increase the adoption of smart meters, and the deployment of home energy management systems to monitor and manage the electricity consumption is expected to drive the demand for energy management systems in the region. Government policies in the region are also directed towards achieving higher efficiencies to reduce the consumption of energy. Moreover, the industrial sector has traditionally been strong in North America. Hence, improving industrial energy efficiency through the implementation of energy management systems becomes relatively important, subsequently driving the growth of the regional market.

Recent Developments
In April 2022, Samsung Electronics announced a partnership with ABB to integrate Samsung SmartThings into more homes and buildings.
In October 2021, SPIE, the independent European leader in multi-technical services in the areas of energy and communications, and Siemens Energy signed a partnership to support the energy company along its path toward a climate-neutral future with efficient, sustainable, and digital solutions.
In August 2021, Emerson acquired Open Systems International, Inc. (OSI Inc.) for USD 1.6 billion in an all-cash transaction. OSI Inc. is a leading operations technology software provider that broadens and complements Emerson's robust software portfolio and improves energy efficiency and reliability.
In June 2021, ETAP, an electrical power system analysis and operation software, announced joining forces with Schneider Electric to deliver end-to-end lifecycle digitalization, enhanced efficiency, sustainability, and resiliency to a broader audience and customer base

What is the goal of the report?

The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes. During the forecast period, the report analyzes the growth rate, market size, and market valuation. The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets. The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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