Energy Management System Market Business Analysis, Growth and Forecast Report

1
2022
Energy Management System Market Opportunities,
and Trends in Coming Years
2
The implementation of strict government policies
regarding energy efficiency is one of the biggest
factors responsible for the growing demand for
energy management systems across the globe.
Several building standards and codes in most of
the developing and developed countries include
energy efficiency measures. During the last few
years, several regulations have been enacted by
the governments of various countries for
encouraging the adoption of cost-effective safe
energy sources as alternatives to the
conventionally used energy sources. For example,
companies are required to adhere to the ISO 50001
standard, which provides organizations with an
energy efficiency framework for conserving energy
resources. Additionally, several financial
incentives, such as grants and tax reduction, are
provided for encouraging the usage of energy
management systems. The usage of automated
control and monitoring of the energy systems
incorporated in buildings helps reduce the
emission of CO2 and the overall energy
consumption by the establishment.
3
Besides the aforementioned factors, the
escalating volatility in the prices of electrical
energy is also fueling the surging requirement
for energy management systems across the world.
The lack of proper power supply, rapid economic
development, and the presence of extreme weather
conditions push up the power prices. For example,
during the next 25 years, the total energy
consumption is predicted to soar by nearly 55
than the one reported in 2016. This will be
because of the increasing industrialization and
urbanization in various countries around the
world. Currently, many commercial consumers are
adopting the energy management system solutions,
on account of the ballooning energy costs. These
solutions help companies optimize the performance
of the building by attaining complete control
over the energy consumption and the cost of
energy consumption by the building. Due to these
factors, the popularity of these technologies is
rising rapidly all over the globe. This is
propelling the expansion of the global energy
management system market. The market is also
predicted to advance at a CAGR of 19.3 between
2018 and 2023. Between system and service, the
demand for energy management system services
would rise rapidly across the globe in the coming
years.
4
This would be because of the rising requirement
for integration, implementation, and consulting,
and monitoring of the systems used for energy
management in residential and commercial
buildings around the world. Geographically, the
energy management system market is predicted to
boom in Europe and North America in the
forthcoming years. This will be due to the rapid
technological advancements and the presence of a
well-established infrastructure network in the
regional countries. Hence, it can be said with
conviction that the sales of energy management
systems would skyrocket all over the world in the
upcoming years, primarily because of the rising
requirement for energy conservation and energy
efficiency in commercial and residential
buildings.
5

• GLOBAL ENERGY MANAGEMENT SYSTEM MARKET
• By Component Control Systems, Communication
  Networks, Software, Hardware, Field Equipment,
  Sensors, and Others
• By Application Industrial Energy Management
  System (IEMS), Building Energy Management System
  (BEMS), and Home Energy Management System (HEMS)
• By End-Use Commercial, and Residential
• By Industry - Power Energy, Manufacturing,
  Retail, IT Telecom, Healthcare, and Others
• By Region North America, Europe, Latin America,
  Asia-Pacific, and Middle East and Africa (MEA)
• GLOBAL ENERGY MANAGEMENT SYSTEM MARKET, BY
  GEOGRAPHYNorth America Energy Management System
  Market
• By Component
• By Application
• By End-User
• By Industry

6
Europe Energy Management System Market By
Component By Application By End-User By
Industry Asia-Pacific Energy Management System
Market By Component By Application By
End-User By Industry
7
Latin America Energy Management System Market By
Component By Application By End-User By
Industry Middle East and Africa (MEA) Energy
Management System Market By Component By
Application By End-User By Industry
8
Disclaimer PS Intelligence always keeps its
customers interests at the core while carrying
out research activities. PS Intelligence ensures
the reliability and accuracy of information and
data provided in its market research
publications. However, the information in
publications is subject to fluctuations, as it is
based on primary interviews of officials from
various companies or organizations. PS
Intelligence is not responsible for any incorrect
data provided by the key industry players of the
concerned domain. the information or analysis in
PS Intelligence publications represents opinions
based on research and should not be interpreted
as statements of fact. Information in this report
was believed to be correct at the time of
publication, but cannot be guaranteed. PS
Intelligence does not endorse any product,
service, or vendor depicted in its research
publications. All intellectual properties,
including trademarks and copyrights, belong to
their respective owners and may be protected by
copyright. Under no circumstance can these be
reproduced in any form without prior written
agreement of their owners. An order for market
research report is intended for internal use of
the company only and not for disclosure to third
parties or any other publication in general. No
service, report, or part thereof provided by PS
Intelligence can be reproduced, republished,
resold, revealed, distributed, circulated, or
sublicensed in any medium or form now realized or
hereafter become realized, including but not
limited to, all forms of optical-based media,
magnetic, electronic, or digital, without a
written permission from Prescient Strategic
Intelligence Pvt. Ltd.