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Technavio’s market research analysts have predicted that the global energy management systems market will grow impressively during the next four years and will post a CAGR of almost 17% by 2020. The increasing need for reducing carbon emission levels has induced utilities and energy companies to change the functioning of the grid by implementing new IT technology in every part of the value chain. This industry research report identifies this change in grid structure to be one of the major factors that will have a positive impact on the growth of this market in the coming years. IT systems help in transforming the grid by integrating several low carbon polluting technologies such as renewable energy, distribution generation, and energy storage for power generation. Though beneficial, these technologies make grid operations more complex, in turn, driving the demand for energy management solutions. These systems facilitate seamless integration of power generation resources and also offer services such as load forecasting, data analytics, state estimation, and fault calculation. This enables utilities companies to generate the required power to meet the peak hour demand and also helps in minimizing excess power generation.
Owing to high energy costs, the construction industry across the world is investing in adopting energy efficiency solutions. Since green energy systems increase efficiency and reduce the impact of production and manufacturing processes on surroundings, there is an increasing adoption of green systems by the commercial sector. Moreover, green energy systems reduce energy costs and greenhouse emissions which will induce several industrial sectors to adopt green systems in the coming years.
The market is characterized by the presence of several well-established and regional energy management companies. Since the local or regional vendors dominate the market in several geographies, the level of competition among the vendors is quite high and the estimated growth in the demand for energy management systems will further intensify the competitive environment among vendors. To increase their revenue share and also acquire new technologies, vendors have started adopting M&A strategies and are also following effective product launching practices. Additionally, vendors are also collaborating with different industry experts to gain access to markets as well as latest technologies. Major vendors such as Siemens and Schneider Electric are currently the leaders in the energy management services market and their growth mainly attributes to their strong relationship with building owners due to their extensive product portfolios. To sustain the competitive environment, vendors have the need for high capital resources to make continuous investments in R&D for developing new energy management systems.
The leading vendors in the market are -
The other prominent vendors in the market are ABB, Alarm.com, Ameresco, Azbil, C3 Energy, CBRE, CISCO, Cylon Control, Daikin Industries, DEXMA, Duke Energy, Eaton Corporation, Echelon, Ecova, Elster, Energy System Technologies, EnergyIQ, EnerNOC, Envizi, eSight Energy, General Electric Industrial Solutions, GridPoint, Hermetic Rush Services, IBM, Lennox International, Lucid, One Sight Solutions, Oracle, Panasonic, Tendril, Trane, United Technologies, Verdant, Veris, and Wipro EcoEnergy.
During 2015, the industrial energy management systems (IEMS) accounted for almost 61% of the total market shares and dominated the market. Energy management systems have found significance in several industries such as automotive, cement, food and beverage, iron and steel, electronics, mining and minerals, oil and gas, paper and pulp, petrochemicals, and utility industries, where the need to reduce energy costs and carbon footprint drives the demand for electrical management systems.
According to this market study the Americas will account for more than 36% of the total market share by 2020 and will also dominate the energy management systems market throughout the predicted period. Constant rise in energy prices and the growing focus on the demand response and energy efficiency compel end-users such as commercial buildings, government institutions, and healthcare facilities to adopt energy management systems in the Americas. The US is identified to be the major revenue contributor in this region where the existence and implementation of several building energy codes drive the need for efficiency and cost savings, in turn, fueling the growth of the market.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Geographical segmentation
PART 08: Key leading countries
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Key vendor analysis
PART 16: Appendix
PART 17: Explore Technavio
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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