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Energy Management System (EMS) Market Growing at a CAGR 18.8 % | Key Player Cisco Systems, General Electric Company, Honeywell International, Inc., Schneider Electric SE, Siemens AG

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Energy Management System (EMS) Market Growing at a CAGR 18.8 % | Key Player Cisco Systems, General Electric Company, Honeywell International, Inc., Schneider Electric SE, Siemens AG

December 16
16:56 2020
Energy Management System (EMS) Market Growing at a CAGR 18.8 % | Key Player Cisco Systems, General Electric Company, Honeywell International, Inc., Schneider Electric SE, Siemens AG

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.
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

Energy Management System (EMS) Market today is increasing at a high CAGR owing to the investment by regional government to digitize energy infrastructure, fluctuation in the energy price, increasing demand for Building Energy Management System (BEMS) and Home Energy Management System (HEMS) technology market, growing awareness of carbon footprint management among enterprises, and mandatory energy regulation implemented by the regional authorities.

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. The emergence of cloud platform, declining cost of IoT components, regional government initiatives for smart grid roll-out, necessity of operational efficiency for utilities are driving the demand for utility EMS software across the globe. However, adopting the utility software is still a challenge in some regions due to poor infrastructure and cyber threats. 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.

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“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. Moreover, the winning imperatives will be more beneficial for vendors that offer open architecture and user-friendly products. The increasing energy demand, price volatility, government mandates, and increased spending over EMS are considered as the influential growth drivers for the HEMS market.

The key technology providers in the EMS market include ABB Group, Cisco Systems, Inc., General Electric Company, Honeywell International, IBM Corporation, Schneider Electric SE, Siemens AG, CA Technologies, Eaton Corporation, and Emerson Process Management. These players have adopted various growth strategies, such as expansions, acquisitions, partnerships, joint ventures and collaboration, venture funding, and new product launches. New product launches and partnerships were the two major strategies adopted by the players to achieve a strong foothold in the EMS market.

In February 2016, IBM Corporation and Siemens Buildings Technologies announced their partnership to design cloud-based solutions that would leverage Siemens’ building expertise and IBM’s Internet of Things (IoT) capabilities to connect various components of buildings and the data generated to help the corporate real estate owners across multiple industries increase the energy performance of their building structure.

In the same period, Siemens developed new microgrid software with energy management capability for small utility providers. The aim was to develop cost effective software services for power operators. This technology would allow the microgrid operators to control and monitor energy distribution along with weather forecasting and load management.

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Additionally, the key highlight of the market was the acquisition of Elster Division of Melrose Industries by Honeywell International in January 2016. Honeywell completed the USD 5.1 billion acquisition with a strategic intent to add about USD1.8 billion to its annual sales. It is expected that the acquisition would eventually boost Honeywell’s position in energy management market. Furthermore, IBM Corporation in February 2015 launched a new cloud-based analytics platform for energy and utility companies, designed to improvise the decision-making process throughout the ecosystem.

The EMS research report analyzes global adoption trends, future growth potentials, key drivers, competitive outlook, restraints, opportunities, market ecosystem, and value chain in this market.

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