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. 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
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• 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.
• 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

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• 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
• 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.