November 16, 2019 by Market-NewsFlash
Energy Management System Market, By Software (Utility EMS, Industrial EMS, Residential EMS), By Solution (Carbon Energy Management, Demand Response Management, Utility Billing & Customer Information System), By Verticals (IT & Telecommunication, Energy & Power, Healthcare, Manufacturing) — Forecast 2023.
Regional analysis for energy management system market is studied in different geographic regions such as North- America, Europe, Asia-Pacific and Rest of the World. North America is expected to be leading player due to increasing demand for home energy management systems which are implemented in residential sector. These systems provide healthy environment and help to reduce global warming which has led to growth in the market share in North America. Europe is estimated to acquire second largest market share due to increased adoption of these systems in power and energy.
The energy management system market is growing rapidly over 18% of CAGR and is expected to reach at USD ~89 billion by the end of forecast period.
Energy Management System Market Segmentation
The energy management system market is segmented on the basis of software, solution and vertical. The vertical segment consists of telecommunication and IT, power and energy, healthcare, manufacturing, official & commercial buildings. By vertical segment, energy management systems used in healthcare industry provide improved air quality in healthcare facilities which reduce the risk of infections among the staff. The system ensures control of energy usage and allows facility teams to provide consistency of service while managing energy usage and costs.
The regional analysis of energy management system market is being studied for region such as Asia Pacific, North America, Europe and Rest of the World. North America is estimated to acquire largest market share in this market because of increasing demand for adoption of building energy management systems (BEMS) which has led to healthy environment across the building. Europe is expected to be second largest region because of government initiatives for implementation of energy saving plans and promotion of renewable energy resources.
The prominent players in the energy management system market are Honeywell International Inc. (U.S.), Cisco Systems Inc. (U.S.), International Business Machines Corporation (U.S.), Siemens AG Ltd. (Germany), Eaton Corporation PLC (Ireland), CA Technologies (U.S.), Emerson Electric Company (U.S.), Daikin Industries Ltd. (Japan), Carma Industries Inc. (Canada), Enernoc Inc. (U.S.), among others.
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