Energy Management Systems (EMS): Worldwide Market Analysis & Forecast (2018-2024) - Expected to Register a CAGR of 18.9%
Monday, 19 November 2018 Dublin, Nov. 19, 2018 (GLOBE NEWSWIRE) -- The "Global Energy Management Systems Market-Technologies, Market share and Industry Forecast to 2024" report has been added to *ResearchAndMarkets.com's* offering.
*Rising concerns regarding carbon footprint management is anticipated to drive the energy management systems market globally*
The global energy management systems market is expected to have a CAGR of about 18.9% during forecast period 2017-2024.
Rising concerns regarding carbon footprint management is also driving the market. According to the Footprint Network Organisation report 2016, Carbon accounts for up to 60% global ecological footprint. The global carbon footprint is 16% more with 8% increase in the global ecological footprint.
According to the United States Environment Protection Agency 2017 report, raise in the atmospheric concentrations of greenhouse gases give rise to an environment warming.
From 1990 to 2015, the total warming effect through greenhouse gases added by humans to Earth's atmosphere raised by 37%. In addition to that the government across the world is also concerned about carbon footprint management. For instance, in December 2015, The Paris agreement was signed by 175 countries with the objective of minimising the emission of carbon dioxide globally by 28% till 2025.
Moreover, as per the Environmental and Energy Study Institute, around 32% of green-house gas emission is due to combustion of coal in the United States.
The United States Environmental Protection Agency is monitoring emissions through its fuel consumption and aim to minimise greenhouse gas emissions to 25% by 2020 under EPA's Strategic Sustainability Performance Plan. Similarly, the U.K. government had introduced carbon budgets which is under the Climate Change Act 2008 in order to help UK to minimise greenhouse gas emissions by 80% till 2050 as per the U.K. government.
Building energy management systems which is an important part of energy management system help in reducing carbon emission decrease from building's carbon footprint and save around 20% off fuel bills by running existing heating system in an efficient manner. BEMS utilises heat-loss algorithm and temperature sensors to make calculations on how to make the boiler and heating more efficiently.
BEMS could also be programmed to control lights, air and ground heat source pumps and monitor and cost all the energy usage.
*North America is the dominating region across the world in energy management systems market*
The rising energy consumption and growing and high investment in the smart grid is anticipated to increase the demand of implementing energy management systems in North America. In 2016, there is around 97.4 quadrillion (1015, or one thousand trillion) Btu energy consumption in U.S. In 2016, energy produced in the United States is about 83.9 quadrillion Btu, that is around 86% of U.S. energy consumption as per the EPA of United States.
Moreover, the high investment in the development of smart grid is also anticipated to increase the demand of energy management system.
An energy management system optimizes, supervises and controls the transmission grid and generation assets which leads to its adoption in the smart grids. There is an investment of $3.5billion for grid modernization in 2016 budget by the U.S. government. According to the United States Department of Energy, total smart grid grant is $3.4 billion till 2015. As per the smart grid government program, total funding of $8 billion in smart grid investment grant program which is around 99 SGIG projects.
In addition to that, old infrastructure in the U.S. is also creating a demand for energy management systems as it often integrated with home automation systems and buildings and plays an important role in controlling energy consumption. These systems provide information about their energy consumption patterns and help consumers to follow energy-efficient behaviour.
In United States, around 40% of total energy consumption and 70% of electricity consumption are in buildings annually as per the Institute of Electrical and Electronics Engineers According to the American Society of Civil Engineers, the U.S. government is trying to increase its investment in infrastructure maintenance and advancement of private and government sector in-order to close the $2.0 trillion 10-year investment gap. This high investment is anticipated to increase the demand of energy management systems for efficient management of energy in infrastructure.
Energy management systems include advanced analytics and communication technologies that provide consumers with energy related information and control features thus increases the demand in modernising infrastructure. Hence, existence of old infrastructure is anticipated to increase the demand of energy management system in North America.
2. Market Overview
2.1. Global Energy Management Systems Market : Evolution & Transition
2.2. Market Definition & Scope
2.3. Industry Structure
2.4. Regulatory Framework
2.5. Total Market Analysis
2.5.1. Top 5 Findings
2.5.2. Top 5 Opportunity Markets
2.5.3. Top 5 Companies
2.5.4. Top 3 Competitive Strategies
2.6. Estimation Analysis
2.7. Strategic Analysis
2.7.1. Investment Vs. Adoption Model
2.7.2. 360-Degree Industry Analysis
2.7.3. Porters 5 Force Model
2.7.4. See-Saw Analysis
2.7.5. Consumer Analysis And Key Buying Criteria
2.8. Competitive Analysis
2.8.1. Key Strategies & Analysis
2.8.2. Market Share Analysis & Top Company Analysis
2.9. Strategic Recommendations & Key Conclusions
2.9.1. Investment Opportunities By Regions
2.9.2. Opportunities In Emerging Applications
2.9.3. Investment Opportunity In Fastest Growing Segment
3. Market Determinants
3.1. Market Drivers
3.1.1. Increasing Energy Consumption
3.1.2. Mandatory Regulations And Policies
3.1.3. Rising Awareness About Carbon Footprint Management
3.1.4. Increasing Inclination Towards Efficient Energy Management
3.1.5. Inclination Towards Corporate Responsibility And Brand Image
3.2. Market Restraints
3.2.1. Longer Payback Period And Hidden Costs
3.2.2. Non-Standardized Guidelines
3.3. Market Opportunities
3.3.1. Modernization Of Old Infrastructure
3.3.2. Up-Coming Smart Cities Projects In Developing Economies
3.3.3. Integration Of Energy Management Systems With Smart Devices
3.3.4. Growth Opportunities In Home Energy Management Segment
3.4. Market Challenges
3.4.1. High Initial Investment4. Global Energy Management Systems Market By Product
4.1. Market Definition And Scope
4.2. Decision Support Database & Estimation Methodology
4.3. Comparative Analysis Across Market Segments
4.4. Opportunity Matrix
4.5. Market Segmentation
5. Global Energy Management Systems Market By End-User
5.1. Market Definition And Scope
5.2. Decision Support Database & Estimation Methodology
5.3. Comparative Analysis Across Market Segments
5.4. Opportunity Matrix
5.5. Market Segmentation
6. Global Energy Management Systems Market By Vertical
6.1. Market Definition And Scope
6.2. Decision Support Database & Estimation Methodology
6.3. Comparative Analysis Across Market Segments
6.4. Opportunity Matrix
6.5. Market Segmentation
7. Competitive Landscape
7.1. Key Strategies
8. Geographic Analysis
8.1. Decision Support Database & Estimation Methodology
8.2. Comparative Analysis Across Market Segments
8.3. Opportunity Matrix
8.4. Global Energy Management Systems Market By Region 2015-2024 ($ Million)
9. Company Profiles
9.1. Asea Brown Boveri (ABB) Ltd. (Switzerland)
9.2. C3 Energy (U.S.)
9.3. CA Technologies - A Broadcom Company (U.S.)
9.4. Cisco Systems, Inc. (U.S.)
9.5. Daikin Industries Ltd. (Japan)
9.6. Daintree Networks (U.S.)
9.7. Emerson Process Management (U.S.)
9.8. General Electric Company (U.S.)
9.9. Gridpoint, Inc. (U.S.)
9.10. Honeywell (Japan)
9.11. Johnson Controls, Inc. (U.S.)
9.12. Jones Lang Lasalle (U.S.)
9.13. Siemens AG (Germany)
9.14. Schneider Electric SE (France)
9.15. Toshiba Corp. (Japan)For more information about this report visit https://www.researchandmarkets.com/research/wjdzzk/energy_management?w=12
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Related Topics: Utilities, Electricity