Growing Applications Augment Demand for Energy Management System Market Research 2023

03 Oct 2018 – U.S. Energy Management Systems (EMS) Market is estimated to grow considerably in the forecast period owing to the growing need for efficient and reliable information technology platforms for optimizing, tracking and controlling of energy sources. Energy management systems (EMS) enable centralized monitoring and help control the use of energy across building systems.

For example, the monitoring capabilities of energy management systems are highly proficient for enhancing (HVAC) and lighting and for minimizing energy use whereas most system operators are unable to explore these resources due to lack of time. This results in synchronized monitoring and managing which has greater impact in improving the plant’s energy efficiency.

Consequently, the monitoring and managing holds considerable market share in service industry and is predicted to continue to offer profitable business opportunities in the coming years. Additionally, limited availability of fossils and government policies concerning energy conservation is attracting the attention of U.S. energy management systems market players.

Industry InsightWhile the year of 2020 is an extremely eventful for energy management system due to COVID-19 breakthrough, the global energy management system market 2020 is showing some positive instincts, when studied by Market Research Future.

As per COVID-19 impact analysis, the market has the potential to show immense growth, which is recorded at a rate of 18% and is capable of reaching a valuation of USD 89 Billion by 2027.

The growth period has been estimated from the years 2020 to 2027.Top Impacting Factor Several companies in the energy management system market are vying suggestive steps to tackle the challenges resulting from the COVID-19 (Coronavirus) pandemic.

In-depth research about COVID-19 is providing current techniques and alternative methods to mitigate the impact on Coronavirus on the revenue of the energy management system market.Energy management systems are gaining recognition since they aid in gaining competitive advantage, surging productivity, and reduce energy costs.

Besides, the government policies toward energy conservation and the limited availability of fossils are drawing the attention of the market players, globally, which in turn, has motivated the growth for the forecast period.Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/2808As per the latest report, every industry is running with the help of energy, so it is essential to set up the energy management system.

With advancements in the latest technologies in the energy management system, such as small-signal analysis, there has been swell in the adoption of energy-efficient systems and diminish in carbon footprint.

Walmart is another big name that has chosen to pursue a blockchain-based path.

According to reports, the company has filed for a patent that will allow for blockchain to govern its energy management system.

The US Patent and Trademark Office (USPTO) has released a document recently revealing Walmart’s patent “for managing demand on an electrical grid using cryptocurrency and blockchain technology.”

According to research report "Energy Management System Market by Software (Utility, Industrial, Residential, ECEM), Device (In-House Display, Smart Thermostat, Smart Plug, and Load Control Switches), Application, Solution, Vertical - Global Forecast to 2021", The EMS market size is expected to grow from USD 32.41 Billion in 2016 to USD 76.75 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 18.8% during 2016–2021.Browse and in-depth TOC on "Energy Management System (EMS) Market - Global Forecast to 2021"70 - Tables 52 - Figures 154 - PagesThe major drivers for the upsurge in demand for EMS technology are mandatory regulations and policies, energy incentive programs, increasing concern for reducing carbon footprints, smart grid technology adoption, digitization of energy infrastructure, and need for centralized gird distribution management and control.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1189Utility EMS software estimated to dominate the EMS software market share during the forecast period”The utility segment is estimated to have the largest market share among EMS software.

Lack of technological awareness and apprehensions regarding privacy & security have raised a number of concerns for the retailers, thereby hindering the adoption of smart solution in the utility industry.Increasing consumer’s interest in efficient energy management and increasing need to improvise the utility sector are driving the growth of home energy management system applicationAccording to MarketsandMarkets analysis, although today the Home Energy Management System (HEMS) market shows slow Year-Over-Year (Y-o-Y)growth potential, the market will most likely achieve a winning imperative towards the end of the forecast period as new and more efficient technological solutions will be introduced in the market.

The increasing energy demand, price volatility, government mandates, and increased spending over EMS are considered as the influential growth drivers for the HEMS market.Speak to Our Expert Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=1189North America is the leading region in terms of market share in the EMS market spaceNorth America is expected to hold the largest market share and dominate the smart grid market from 2016 to 2021.

The government has been actively involved with the energy efficiency and management standards for the residential sector, while the public and investor-owned utilities are also considering reducing the energy cost and consumption as a major priority factor in their management strategies.

This has pushed the residential energy management market toward the growth phase.The leading players in this market are ABB Group, Cisco Systems, Inc., General Electric Company, Honeywell International, IBM Corporation, Schneider Electric SE, Siemens AG, CA Technologies, Eaton Corporation, and Emerson Electric Company.About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.

Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients.

According to research report "Energy Management System (EMS) Market by Software (Utility, Industrial, Residential, ECEM), Device (In-House Display, Smart Thermostat, Smart Plug, and Load Control Switches), Application, Solution, Vertical - Global Forecast to 2021", The EMS market size is expected to grow from USD 32.41 Billion in 2016 to USD 76.75 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 18.8% during 2016–2021.

Browse 70 market data Tables and 52 Figures spread through 154 Pages and in-depth TOC on "Energy Management System (EMS) Market - Global Forecast to 2021"Download PDF Brochure:  https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1189The major drivers for the upsurge in demand for EMS technology are mandatory regulations and policies, energy incentive programs, increasing concern for reducing carbon footprints, smart grid technology adoption, digitization of energy infrastructure, and need for centralized gird distribution management and control.Utility EMS software estimated to dominate the EMS software market share during the forecast period”The utility segment is estimated to have the largest market share among EMS software.

Lack of technological awareness and apprehensions regarding privacy & security have raised a number of concerns for the retailers, thereby hindering the adoption of smart solution in the utility industry.“Increasing consumer’s interest in efficient energy management and increasing need to improvise the utility sector are driving the growth of home energy management system application”According to MarketsandMarkets analysis, although today the Home Energy Management System (HEMS) market shows slow Year-Over-Year (Y-o-Y)growth potential, the market will most likely achieve a winning imperative towards the end of the forecast period as new and more efficient technological solutions will be introduced in the market.

The government has been actively involved with the energy efficiency and management standards for the residential sector, while the public and investor-owned utilities are also considering reducing the energy cost and consumption as a major priority factor in their management strategies.

This has pushed the residential energy management market toward the growth phase.Speak to Our Expert Analyst:  https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=1189The leading players in this market are ABB Group, Cisco Systems, Inc., General Electric Company, Honeywell International, IBM Corporation, Schneider Electric SE, Siemens AG, CA Technologies, Eaton Corporation, and Emerson Electric Company.About MarketsandMarketsMarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports.

Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M is catering to a multitude of clients across 8 different industrial verticals.

The global energy management industry has witnessed a massive transformation over the past five years, owing to the increasing demand for building energy management systems.

Earlier, the industry had been driven by resources, however it is now driven majorly by technology and innovation.

With rapid implementation of building energy management systems, the commercial, industrial, and residential end users are able to conserve energy with the help of functions of building energy management system such as heating, ventilation, and air conditioning (HVAC) and lighting systems.

The advent of innovative software and services has resulted in reduced energy consumption and overall cost-effective operations, owing to more precise and resource-efficient approach.

As a result, the building energy management system is anticipated to progress due to the ever-growing affinity for more convenient and effective energy conservation systems than the traditional methods.The market research study offers a wide perspective of the building energy management system market and analyses its impact on the end users by providing critical insights into the direction of its future expansion.

The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models.As per the U.N. projections, Africa, is expected to register the highest population growth with an additional 1.30 billion people across the globe, by 2050.

Energy Management System MarketWhile the year of 2020 is an extremely eventful for energy management system due to COVID-19 breakthrough, the global energy management system market 2020 is showing some positive instincts, when studied by Market Research Future.

As per COVID-19 impact analysis, the market has the potential to show immense growth, which is recorded at a rate of ~18% and is capable of reaching a valuation of USD ~89 Billion by 2023.

The growth period has been estimated from the years 2017 to 2023.FREE PDF@ https://www.marketresearchfuture.com/sample_request/2808Top Impacting FactorsSeveral companies in the energy management system market are vying suggestive steps to tackle the challenges resulting from the COVID-19 (Coronavirus) pandemic.

In-depth research about COVID-19 is providing current techniques and alternative methods to mitigate the impact on Coronavirus on the revenue of the energy management system market.Energy management systems are gaining recognition since they aid in gaining competitive advantage, surging productivity, and reduce energy costs.

Besides, the government policies toward energy conservation and the limited availability of fossils are drawing the attention of the market players, globally, which in turn, has motivated the growth for the forecast period.As per the latest report, every industry is running with the help of energy, so it is essential to set up the energy management system.

With advancements in the latest technologies in the energy management system, such as small-signal analysis, there has been swell in the adoption of energy-efficient systems and diminish in carbon footprint.