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Asia-Pacific Energy Management System Market Giants Spending is going to Boom | Azbil Corporation, Daikin Industries, Schneider Electricals
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Governmental organizations are boosting their maintenance budgets for system infrastructure while simultaneously funding initiatives for project development, modernization, and enhancement. As a result of the investments' success, ICT vendors now annually set aside funding for the growth of the online market. Global ICT exports are anticipated to increase 3.9% on average year from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. Global supply has increased by 9.5% yearly since 2009. In terms of global ICT exports in 2021, Ireland came in first place with US$ 169. 32 billion. The rankings placed China at number 4, the United States at number 2, and India at number 3. Since 2009, Brunei has increased by 228.2% year over year, while Sierra Leone has decreased by 61.7% year over year.
By 2026, European ICT Revenue is likely to increase by 1.5% annually, from US$ 1,802,413 Million in 2021 to US$ 1,933,429 Million. The European market has increased by 3.1% annually since 2016. In terms of ICT Revenue in Europe in 2021, Germany came in first place with US$ 339,074 million. Positions 2, 3, and 4 in this ranking were held by the United Kingdom, France, and Ireland, respectively. Since 2016, Malta has increased by 16.5% year over year, while Italy has decreased by 0.2%.
The Energy Management System (EMS) systematically captures the energy consumption data and serves as a monitoring system to strategically improve the energy efficiency across industries, personal spaces and buildings. EMS has witnessed a considerable growth primarily due to increasing energy requirements, supportive government initiatives and stringent environmental regulations. However, low awareness about energy management systems in Asia Pacific & longer payback period pose as a major challenge to this market.
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In the Asia-Pacific region, Korea has a major share compared to the other developing countries owing growing industrialization and increasing energy requirements in the country. This is followed by Japan, where an increased adoption of BEMS & HEMS is observed. Presently, IEMS accounts for the highest revenue generating segment in the APAC EMS market followed by BEMS and HEMS. EMS is adopted in various sectors such as Telecom & IT, Healthcare, manufacturing sector, power & energy among others to optimize utilization of energy and enhance their productivity. Power & energy sector majorly contributes to the Energy Management system Asia Pacific market. It generated about 40% of the market revenue in 2014 and is expected to dominate the market followed by the manufacturing sector.
The energy management systems market is segmented on the basis of component, type, vertical, end user and country. The component segment comprises of software, sensors, controllers and others. Based on type, energy management systems are classified as Building Energy Management Systems (BEMS), Industrial Energy Management Systems (IEMS) and Home Energy Management Systems (HEMS). The market is further bifurcated in terms of end user as commercial & residential. Based on vertical, the market is segmented into telecom & IT, retail & offices, healthcare, power & energy, manufacturing and others. Based on geography, the EMS market covers China, Japan, India, Korea, Singapore, Thailand, Australia.
KEY BENEFITS:
The report provides an in depth analysis of the energy management system Asia-Pacific market with current and future trends to elucidate the imminent investment pockets
This report highlights the key drivers, opportunities and restraints in the market and provides an impact analysis of key factors for the forecast period
Current and future trends are outlined to determine the overall attractiveness and single out profitable trends to gain a stronger foothold in the market
Market estimation for type, solutions, applications, industries and country segment is derived from the current market scenario and expected market trends
The Porters five forces analysis highlights the potency of buyers and the suppliers participating in this market. This would further lend a competitive edge to the stakeholders and help in better decision making
KEY PLAYERS
Azbil Corporation
Daikin Industries
Schneider Electricals
Siemens AG
Johnsons Control Inc.
Honeywell International Inc.
General Electric Company
C3 Energy
APAC ENERGY MANAGEMENT SYSTEM MARKET KEY SEGMENTATION
The market is segmented on the basis of component, type, end user, vertical and country.
Asia-Pacific Energy Management System Market - By Component
Software
Sensors
Controllers
Others
Asia-Pacific Energy Management System Market - By Type
BEMS
IEMS
HEMS
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Asia-Pacific Energy Management System Market - By End User
Commercial
Residential
Asia-Pacific Energy Management System Market - By Vertical
Telecom & IT
Healthcare
Power & Energy
Manufacturing
Retail & Offices
Others
Asia-Pacific Energy Management System Market - By Country
China
Japan
India
Korea
Singapore
Australia
Thailand
Rest of Asia
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