Energy Management Systems Market: Tech Drivers & Applications

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Energy Management Systems Market Tech Drivers
Applications
The growing demand for sustainable and green
energy resource management, along with an
increase in government mandates worldwide, has
influenced the demand for EMS. The global energy
management systems market is expected to progress
at a growth rate of 15.91 during the forecast
period 2022-2028. EMS allows facilities to
control their energy consumption patterns,
putting managers in charge of measuring,
monitoring, and regulating these systems. With
proper installation, maintenance, and monitoring,
these systems can save 10-30 of their energy.
Timers, occupancy sensors, programmable
thermostats, photocells, and PLCs are some of the
most prevalent energy management equipment.
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energy-management-systems-market-tech-drivers-and-
applications
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• Growth Trends and Key Challenges
• With the growing world population and rise in
  living standards, there is a need for major
  advances in energy supply and efficiency while
  overcoming the risks relating to climate change.
  As organizations focus on energy conservation,
  the need for energy management systems increases.
  The following factors are responsible for the
  markets advancement
• Energy issues such as greenhouse gas emissions,
  access to electricity, carbon footprints and
  others are the most important challenges
  confronting the world today. In 2021, IEA
  predicted that the global energy demand would
  increase by 4.6, with a 4.5 increase in
  electricity demand. The global energy-related
  carbon dioxide emissions rose 6 in 2021 to
• 36.3 billion tons.
• The adoption of smart grids and smart meters has
  become a trend. United States EPAs smart growth
  program helps communities to improve their
  development practices and encourage strategies to
  protect the environment. Increased smart grid
  service usage, industrial competition, and demand
  from emerging economies are some of the primary
  reasons for market growth.
• Governments worldwide have urged organizations
  and institutions to implement energy- saving
  measures through policies and various incentives,
  helping the studied market to flourish. As per
  IEA, in 2021, the government policies were
  expected to increase the investments in energy
  efficiency by 10 to reach nearly 300 billion.
• The EMS technology is related to building
  management systems, which involve the use of
  computer systems. It helps to control and monitor
  facilities in buildings that consume significant
  amounts of energy, such as HVAC systems and
  lighting installations. The scope of
  implementation can range from a single building
  to university campuses, office buildings, or
  factories.
• However, the energy management system market may
  face challenges due to a shortage of skilled
  professionals, a lack of awareness among
  stakeholders and non-standardized guidelines,
  which can stifle market growth. Additionally, the
  high initial cost is the major challenge faced by
  the market. However, the return on investment can
  be achieved in less time with proper awareness
  and usage, which will hinder the markets
  prospects.

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• The Application of SCADA in Electric Power Grids
• SCADA, or Supervisory Control and Data
  Acquisition, is a software application program
  that obtains real-time information from remote
  locations to control operational conditions and
  equipment.
• SCADA in electric power grids results in improved
  security, optimal energy consumption, reduced
  transmission loss. The use of SCADA in various
  market segments paves the way for the markets
  flourishment, such as
• In the end-user segment, the healthcare sector is
  growing at a CAGR of 16.28. The increasing
  investments in the sector are due to
  commercializing of innovative products like SCADA
  and advanced monitoring sensors. These are used
  in EMS solutions for better maintenance of
  facilities, such as sensors and electrodes for
  diagnosis, to provide quality care and treatment
  to patients.
• Software is the fastest-growing component in
  terms of revenue. The monitor and control
  functions in EMS software are known as SCADA,
  accustomed to several online applications. The
  software provides utility bill tracking, real
  time metering and lighting control systems,
  carbon reporting, building simulation and
  modeling and demand response.
• Developments by Competitors
• A buyer can choose from several players in the
  market, such as IBM Corporation, General Electric
  Company, Honeywell International Inc, Schneider
  Electric, etc. These organizations have been at
  the forefront of implementing energy management
  systems, with recent developments including
• In August 2021, Mitsubishi acquired smarter grid
  solutions to strengthen both companies
  distributed energy resources management
  solutions. It will expand the reach of the energy
  management enterprise software of Smarter Grid
  Solutions to distributed energy resource
  customers around the world.
• In February 2022, Actis Technologies launched
  Integrated EMS to save energy costs. This
  includes lighting control, green building systems
  and LED lighting fixtures.
• Johnson Controls and Pelion partnered in August
  2021. The former is expected to leverage Pelions
  connected device platform for the IoT device
  management services, simplifying the monitoring
  of edge devices.

FAQ
4
Q1) What is the growth of the energy management
systems market in terms of revenue? The global
energy management system market was valued at
8777.66 million in 2021 and is expected to reach
24453.90 million by 2028. Q2) What are segments
covered in the energy management systems
market? Type, components and end-users are the
main segments covered in the energy management
systems market.