Published: November 2016
Report Code: IM10238
Category : Software & Services
The global energy management system market is expected to grow at high growth during the forecast period. Though, EMS market is specifically meant for commercial establishments, but their usage is not just limited to it. These can also be installed and used in residential establishments, for example a large residential community, helping them achieve their energy efficiency goals. Asia-Pacific is expected to register a high growth in demand of EMS by 2022, and hence, emerges as the fastest growing market.
GLOBAL EMS MARKET, BY COMPONENT, $M (2012-2022)
The EMS are made up from as-many-as six sub-components, hence it is important for all the component manufacturers to come up with plug and play components so that these systems can be used interchangeably on all EMS, regardless of the manufacturer supplying them. This will potentially not only avoid non-standardization issues but will additionally lead to increased business opportunity for the both the component manufacturers and EMS suppliers.
EMS enables large corporations and firms to monitor their energy consumption, and further manage and control it, to achieve their energy efficiency goals, by using sophisticated energy usage control techniques. EMS helps the firms achieve their specific and predetermined energy efficiency goals. However, to enhance the adoption of EMS, governments in many countries are expected to come up with laws, mandating the usage of these systems in large corporate and commercial buildings. With the focus on climatic changes and saving environment to reduce footprint, the EMS systems are expected to become a fully commercial and mature market, from an evolving market currently. The EMS are then expected to integrate with the operation optimization systems as well, thereby helping corporates and nations achieve even higher levels of energy efficiency goals.
Besides offering a good return on investment, EMS also promotes the environmental safety. EMS can help the big corporate and commercial giants to closely monitor their energy usage, identify and kill the possible energy loss sources, thus save potential costs. This presents a tremendous cost saving potential for the end users even helping them offset their initial EMS costs, hence achieving a break-even in a matter of years, or even months in some cases. Besides just a financial aspect, EMS can also help reduce the energy consumption, and footprint of the end-users, thereby contributing to a greener and safer environment.
EMS can help nations to achieve the national carbon footprint reduction goals. Government can also achieve reduction in the energy consumption, which will help them also reducing carbon raw material costs. For instance, the U.S. is planning to enact a federal carbon regulation, which strategizes on future energy supply strategies, amid which there is a strategy to implement EMS. Energy management systems will not only help save energy, and enable corporate to even sell back the energy, but will also help the nation to be better prepared during emergency situations with an appropriate energy backup.
Some of the major players operating in the global energy management system market include Schneider Electric, Honeywell International, Siemens AG, Johnson Controls, Elster Group, C3 Energy, GridPoint Inc., General Electric Company, and Eaton Corporation.