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Global Energy Management System Market is expected to foresee significant growth. APAC to lead the growth!

The global energy management system market is expected to witness a CAGR of around 18% during the forecast period (2021–2027). Rising investments in power transmission and distribution networks coupled with the growing augmentation and modernization of transmission and distribution networks across the globe are expected to drive the market. As per the United Nations Industrial Development Organization (UNIDO), an energy management system (EMS) is a framework for energy consumers, including industrial, commercial, and public sector organizations, to manage their energy use. It assists businesses in identifying opportunities to adopt and improve energy-saving technologies, including those that do not necessitate a large capital investment. In most cases, successful EMS implementation requires specialized knowledge and staff training. Thus, with the rising energy consumption coupled with the integration of mandatory environmental regulations and policies in the current energy management ecosystem, the global EMS market is expected to witness exponential growth during the forecast period.

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However, industry growth witnessed some stress and negative impact due to COVID-19. The sudden outbreak of COVID-19 has sent shockwaves across industries manufacturing, power generation, renewables, nuclear, and oil and gas. The outbreak and the resulting economic slowdown have had an intermediate impact on energy management system industry. Although the COVID-19 pandemic has forced to stop all the fieldwork of several major projects, the market is nonetheless expected to remain robust with the cumulative number of EMS integration.

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Based on type, the market is classified into building energy management system (BEMS), industrial energy management systems (IEMS), and home energy management system (HEMS). Amongst them, IEMS is expected to witness significant growth during the forecast period. This is mainly due to the adoption and integration of energy-efficient systems and technologies by industries across the world coupled with the introduction of new EMS by major stakeholders in the market. For instance, GE IEMS – a digital control system by General Electric offers monitoring of energy consumption, analysis of operational data, automated alerts and alarming, and system events meeting application and operational requirements.

Based on end-users, the market is classified into manufacturing, power and energy, it and telecommunication, healthcare, and others. Amongst them, the power and energy category is accounted for a significant market share in 2020. This is mainly due to the rising investment by government and private entities for the up-gradation of power and energy infrastructure, globally. Key stakeholders in the industry have spotted smart grid technology as a strategic energy infrastructural investment as long-term economic success and help in achieving the carbon emission targets. For instance, the Ministry of Natural Resources Canada has launched, the Renewables and Electrification Pathways (SREPs) program, a four-year US$ 795 million (CA$ 960 million) investment plan to support the rollout of smart grid technologies.

For a detailed analysis of the global energy management system market browse through https://univdatos.com/report/e...

Based on application, the market is categorized into energy generation, energy transmission, and energy monitoring. During the forecast period, the energy monitoring category is expected to witness significant growth in the market. Energy monitoring is the act of collecting real-time or interval energy data so that building resource consumption can be managed efficiently. The market is also...

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