Energy Management System (EMS) Market: Technological Advancements to Watch Out For 2027


Posted January 12, 2021 by advacetechnology

An energy management system is a system of computer-aided tools utilized to control, monitor, and optimize the performance of the transmission or generation system.

 
Market Overview
An energy management system is a system of computer-aided tools utilized to control, monitor, and optimize the performance of the transmission or generation system. In layman’s term, it is a database of information related to usage of financial data, energy resources, and other essential factors that aid organizations in controlling, monitoring, and analyzing operations. EMS is used by large enterprises to monitor and track energy usage in their facilities. EMS software helps to assess and build operator’s energy consumption targets, analyze consumption trends, and identify and validate opportunities for energy efficient programs, in order to minimize operational and energy costs. Currently, enterprises are required to monitor and analyze their performance in a number of ways.

The global energy management system (EMS) market was valued at US$ 9,224.6 Mn in 2019 and is expected grow at a CAGR of 14.8% during the forecast period (2019-2027).
Market Dynamics
An energy management system (EMS) is a system of computer-aided tools utilized to control, monitor, and optimize the performance of the transmission or generation system. An energy management system is a database of information that deals with energy usage, resources, financial data, and other essential factors that assist organizations in monitoring, analyzing, and controlling applications. The data analyzed in this process can be historical or can be real-time. EMS is typically used by large enterprises to track and monitor the energy usage in their facilities. It helps enterprises to assess and build energy consumption targets, analyze consumption trends, and identify and validate opportunities for energy efficient programs, in order to minimize operational and energy costs.
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Market Opportunities
1. Emergence & growing adoption of cloud computing is expected to present lucrative business opportunities
Cloud computing has been vastly adopted in numerous industries though its potential remains untapped in the energy management solutions. Cloud-based technology presents various benefits of updating software in real-time thereby enabling users to utilize the data more efficiently. In EMS, organizations are increasingly adopting cloud-based software to gain significant benefits such as robustness, scalability, low cost, user-friendly access, and granular level analysis of energy consumption. These solutions can assist companies to generate more efficient reports, improve their performance, and achieve better return on investment. Hence, growing adoption of cloud-based EMS is expected to present excellent growth opportunity for market players.
2. Delivering end-to-end customer experience to pose significant business opportunity
Energy management solutions provider can capitalize on untapped potential by offering end-to-end customer experience. SMEs are increasingly demanding software solutions that are convenient, simple, and offer value for money. By delivering, choices in buying options, EMS vendors can gain competitive edge in the market. Offering an end-to-end customer experience in line with industry standards and showing progressive elaboration with the service with respect to technology, processes, and service levels can help vendors to expand SME consumer base.
Market Trends
1. Growing adoption of Internet of Things (IoT) is major trend in the market
Various organizations are adopting IoT solutions, in order to enhance existing EMS facilities. Currently, building lighting systems can be integrated with IoT with the installation of simple controls and attain greater benefits such as understanding exact consumption of energy with real-time data thereby assisting in energy management and monitoring. 
2. Proliferation of smart meters to understand exact consumption of energy is another major trend
Many countries are increasingly adopting smart meters, in order to facilitate clear reading of energy consumption. For instance, according to the U.K. Government, in September 2016, 4.9 Mn smart and advanced meters were operating in businesses and homes across Great Britain, and the country. In November 2016, BEIS Published an updated Cost-Benefit Analysis of the rollout – smart meters are set to deliver significant net present value benefits to consumers, projected at US$  6.1 Bn over the lifetime of the program.

Detailed Segmentation:
Global Energy Management System (EMS) Market, By Deployment:
• Cloud Based
• On Premise
Global Energy Management System (EMS) Market, By Vertical:
• Automotive
• Building Automation
• Oil & Gas
• Manufacturing
• Pharmaceutical
• Power and Energy
• Others (F&B, Government etc.)
Global Energy Management System (EMS) Market, By Software:
• Utility Energy Management
• Industrial Energy Management
• Enterprise Carbon and Energy Management
• Residential Energy Management
Keyplayers:
Key companies covered as part of this study include Schneider Electric SE, Asea Brown Boveri (ABB) Ltd., Eaton Corporation PLC, Cisco Systems, Inc., CA Technologies, General Electric Company, Emerson Process Management, Honeywell International, Inc., Siemens AG, and International Business Machine Corporation among others.

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Issued By coherentmarketinsight
Country United Arab Emirates
Categories Technology
Tags energy management system ems market
Last Updated January 12, 2021