San Francisco, Feb. 16, 2016 (GLOBE NEWSWIRE) -- The global energy management systems (EMS) market is expected to reach USD 58.59 billion by 2022, according to a new report by Grand View Research, Inc. Growing concern towards energy prices coupled with increasing green building construction particularly in economies China, India, Japan, UAE and Germany is anticipated to drive global EMS market growth over next seven years.
High growth markets of Asia Pacific and Europe have been focusing on optimization of energy systems and efficient urbanization plans. Growing concern towards industrial and commercial waste has urged governments to adopt strategies for efficient construction of urban and industrial establishments.
Technology used in EMS is still expensive as there is high cost of R&D involved. The capital spending is highly correlated with the financial health of the company. In addition, the return on investment is gradual, and may take a period of nearly 3-4 years. High investment and longer payback period proves to be a major challenge for the market.
Industrial EMS emerged as the leading product segment and accounted for over half of the total revenue in 2014. Surging energy demand in various end-use sectors such as power & energy, IT & telecom, and manufacturing has urged companies to adopt sustainable solutions for optimum utilization of energy. Favorable government initiatives coupled with integration of information technology solutions is expected to drive demand for industrial segment over the next seven years.
Browse to access In-depth research report on Global Energy Management Systems (EMS) Market with detailed charts and figures: http://www.grandviewresearch.com/industry-analysis/energy-management-systems-market
Further key findings from the report suggest:
- Global energy management system market was valued at USD 20.49 billion in 2014 and is expected to reach USD 58.59 billion by 2022, growing at a CAGR of 14.3% from 2015 to 2022.
- Sensors were the most consumed component and accounted for over 35% of the global market in 2014. Deploying of remote sensors and real-time information optimize system performance and improve standards of safety. Growing concern towards monitoring of drainage systems is expected to drive sensors segment demand over the next seven years.
- Power & energy segment was the largest application vertical and accounted for over 41% of global revenue share in 2014. This sector is expected to maintain its dominance over the next seven years, owing to shifting trend towards modernization of electricity grids.
- Commercial sector accounted for over 80% of the total installation in 2014. Rising concerns towards reducing operating costs and power optimization in large as well as small scale enterprises is expected to drive demand in near future.
- North America witnessed high penetration of EMS and was valued over USD 8.5 billion in 2014. Favorable government initiatives coupled with surging energy demand in power generation and manufacturing sectors are anticipated to drive regional market growth in next seven years.
- EMS industry is moderately consolidated with presence of leading companies such as Elster Energy, Honeywell, Schneider Electric, and Siemens dominating global energy management system industry in 2014. Other significant players operating in the global market include C3 Energy, Gridpoint, Johnson Controls Inc., IBM, and Powerhouse Dynamics.
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Grand View Research has segmented the energy management system market on the basis of product, component, vertical, end-use and region:
Global Energy Management Systems (EMS) Product Outlook (Revenue, USD Million, 2012 - 2022)
- Industrial Energy Management System (IEMS)
- Building Energy Management System (BEMS)
- Home Energy Management System (HEMS)
Global Energy Management Systems (EMS) Component Outlook (Revenue, USD Million, 2012 - 2022)
Global Energy Management Systems (EMS) Vertical Outlook (Revenue, USD Million, 2012 - 2022)
- Power & Energy
- Telecom & IT
- Retail & offices
Global Energy Management Systems (EMS) End-Use Outlook (Revenue, USD Million, 2012 - 2022)
Global Energy Management Systems (EMS) Regional Outlook (Revenue, USD Million, 2012 - 2022)
- North America
- Asia Pacific
- Rest of the World (RoW)
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