September 25, 2020

Energy Management System Market (SARS-CoV-2, Covid-19 Analysis)By Solution, By Services, By Verticals – Forecast Till 2023

A new market study, “ Energy Management System Market Research Report ” has been featured on Market Research Future.

COVID-19 (Coronavirus) has caused volatility in raw material prices in the Energy Management System Market. Gain access to our recently published reports that elaborate in the impact caused by Coronavirus on the Energy Management System Market to stay abreast with latest market on goings. Learn how COVID-19 has affected supply chains in certain regions of the world and empower your business with resourceful insights on tackling the novel virus.

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Market Scope

Energy management system (EMS) is defined as a system that monitors and conserves energy in a building or an organization. As per the global energy management system market report published by Market Research Future (MRFR) infers increase for this market at 18% CAGR between 2017 and 2023. In terms of monetary value, the market can be worth USD 89 bn by the end of the forecast period.

Based on careful analysis, the report by Market Research Future (MRFR) states that the energy management system market is set to be highly profitable with the market value of USD 89 Billion by 2023, recording a healthy CAGR of 18% during the forecast period (2017-2023).

Market Segmentation

The global energy management system market segmentation covers software, solution, and verticals.

The software-based segmentation of this market covers enterprise carbon & energy management, industrial EMS, residential EMS, and utility EMS. Industrial EMS is useful for factories and manufacturing units. Residential EMS is useful in residential areas and housing societies. Utility EMS is used by organizations that

Based on the solution, the market has been segmented into carbon energy management, customer information system, demand response management, and utility billing.

In the context of verticals, the market has been segmented into energy & power, healthcare, manufacturing, information technology (IT) & telecommunication, office & commercial buildings, and others.

Regional Insight

The regional analysis of the energy management system market has been done for the regions of Asia Pacific, Europe, North America, and Rest of the World.

Among these, North America has been estimated to be the largest market in the global market, owing to the increasing demand for adoption of building energy management systems (BEMS), resulting in a healthy environment across the building.

Europe is set to acquire the second position in the global energy management system market, on account of government initiatives for the implementation of energy saving plans along with promotion of renewable energy resources. For instance, the Italian government introduced the Energy Efficiency Certificate trading scheme, targeting energy service company entities along with Conto Termico, which mainly focusses on the building sector.

Increasing industrialization and advancements in technologies supplement the growth of energy management systems market in the Asia Pacific region. Korea has been the highest revenue generating country till now, followed by China and Japan. Moreover, energy management system for residential end users is expected to rise in the region, with the increasing per capita disposable income, coupled with growing awareness, and strict environmental regulation policies.

Key Players

The key vendors in the energy management system market include Enernoc Inc. (U.S.), Cisco Systems Inc. (U.S.), Daikin Industries Ltd. (Japan), Honeywell International Inc. (U.S.), Siemens AG Ltd. (Germany), Eaton Corporation PLC (Ireland), Emerson Electric Company (U.S.), CA Technologies (U.S.), Carma Industries Inc. (Canada), International Business Machines Corporation (U.S.), among others.

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