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Global Energy Management Systems (EMS) Market to Develop Rapidly by 2021
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The adoption of energy management systems depend mainly upon rigorous government regulations regarding conservation and energy efficiency coupled with market awareness of end-users regarding the importance of energy conservation and improving profits. However, there are multiple factors hindering the growth of the market such as during economic slowdowns energy management automatically takes the back seat and because of financial limitations application of EMS gets converted into a secondary goal. The organization focuses more on production than on energy efficiency in the business setups. Creating awareness among end users about energy management can be challenging as end users and the enterprises are more concern about initial cost than on long term benefits.
The market can be segmented by software types into industrial EMS, utility EMS, residential EMS, enterprise energy and carbon management, and others. The market is by devices into load control (LC) switches, in-home displays (IHDs), smart plugs and smart thermostats. Furthermore by applications the market is segmented into home energy management systems (HEMS) and building energy management systems (BEMS); utility billing, Customer Information System (CIS) and solutions: demand response (DR).
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In addition the market is segmented by business vertical on the basis of implementation into energy and power, commercial and office buildings; Municipal, University, School and Hospital Systems (MUSH); IT and telecom and manufacturing.
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