The global energy management system (EMS) market is growing at a CAGR of 18.8 percent to reach US$76.75 billion by 2021 dominated by North America, while office and commercial building sector is estimated to be the fastest-growing market segment.
Mandatory regulations and policies for energy management and government's initiatives for digitation of energy infrastructure across the globe are some of the factors expected to drive the Energy Management System market.
The major industries implementing energy management systems (EMS) are power and energy, telecom and IT, office and commercial buildings, and manufacturing sectors. The manufacturing sector is the top revenue generating industry vertical for the energy management system market. The offices and commercial building sector is expected to show the highest growth rate during the forecast period due to increasing awareness for carbon footprint management, advantages of building automation technology, tax benefits for energy efficiency certification in this sector.
North America is expected to hold the largest share of the energy management system market in 2016 due to the region being technologically advanced and the increasing spending on energy efficiency programs along with regulatory government mandates in the U.S. and Canada. Asia-Pacific (APAC) is expected to grow at the highest growth rate during the forecast period due to rapid smart grid deployments and regional government spending for digitization of energy infrastructure in China, Japan, and India, Australia, Singapore, New Zealand, and South Korea.
In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key industry personnel. The break-up profile of primary discussion participants is given below.
The various key energy management system (EMS) market vendors profiled in this report such as ABB (Switzerland), Cisco System Inc. (U.S.), International Business Machine Corporation (U.S.), Honeywell International (U.S.), Schneider Electric SE (France), CA Technologies (U.S.), Eaton Corporation (U.S.), Emerson Process Management (U.S.), General Electric Company (U.S.) and Siemens AG (Germany). Order a copy of 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 – See full report.
In the process of determining and verifying, the global energy management system market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (49%), Tier 2 (30%) and Tier 3 (21%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level (57%) and Manager Level (43%) from various key organizations operating in the global energy management system (EMS) market. The primary interviews were conducted worldwide covering regions such as North America (48%), Europe (26%), Asia-Pacific (21%), and Rest of World (5%).
Source: Market Reports Hub