Energy Management System Market is expected to grow at USD 89 Billion by 2023

Market Scenario:

Energy management system is the system that monitors and conserves energy in a building or an organization. This system meters the energy consumption and collects the data required for conserving energy. This system tracks the progress by analyzing the meter data and monitoring the results obtained. This system takes actions to target the factors causing energy conservation such as tackling the routine waste and replacing it with equipment.

The driving factors for energy management system market include rising awareness among people to improve environment quality, increasing demand for green environment all around the world, awareness among factory owners to implement energy management systems for their production units in order to have healthy environment have led to growth of energy management systems in the market. The advantage of using this system is that it reduces costs due to which most of the organization can save up to half percent of fuel by managing the energy use. The only drawback is that some of the organization do not see energy management as an opportunity to improve performance and reduce costs.

The energy management system market is segmented on the basis of software, solution and vertical. The software segment consists of utility EMS, industrial EMS, residential EMS and enterprise carbon & energy management. The solution segment consists of carbon energy management, demand response management, utility billing and customer information system. By software segment, utility EMS monitors and controls all the transmission, generation and distribution assets. It reduces overall system costs and provides maintenance support tools. These systems help in managing large state- wide and region-wide power grid transmission networks.

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Key Players:
• Honeywell International Inc. (U.S.),
• Cisco Systems Inc. (U.S.),
• International Business Machines Corporation (U.S.),
• Siemens AG Ltd. (Germany),
• Eaton Corporation PLC (Ireland),
• CA Technologies (U.S.),
• Emerson Electric Company (U.S.),
• Daikin Industries Ltd. (Japan),
• Carma Industries Inc. (Canada),
• Enernoc Inc. (U.S.),

Regional Analysis:
The regional analysis of energy management system market is being studied for region such as Asia Pacific, North America, Europe and Rest of the World. North America is estimated to acquire largest market share in this market because of increasing demand for adoption of building energy management systems (BEMS) which has led to healthy environment across the building. Europe is expected to be second largest region because of government initiatives for implementation of energy saving plans and promotion of renewable energy resources.

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Segments:
Energy management system market is segmented on the basis of software, solutions and vertical.
Energy management system market by Software:
• Utility EMS
• Industrial EMS
• Residential EMS
• Enterprise Carbon And Energy Management
Energy management system market by Solution:
• Carbon energy management
• Demand response management
• Utility billing and customer information system
Energy management system market by Verticals:
• IT & Telecommunication
• Energy & Power
• Healthcare
• Manufacturing
• Office and Commercial Buildings
• Others

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