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Energy Management System Market to Rise at 9.9% CAGR till 2027; Increasing Installation of Smart Meters Worldwide to Prove Beneficial for the Market

November 02, 2020 | Information & Technology

The global energy management system (EMS) market size is projected to reach USD 41.97 billion by 2027 owing to the rising adoption of EMS in the oil & gas industry, shares Fortune Business Insights™ in


its report, titled “Energy Management System Market Size, Share & COVID-19 Impact Analysis, By Type (System and Services), By End User (Oil & Gas, Manufacturing, Building Automation, Energy & Utilities, Automotive, Pharmaceutical, and Others), and Regional Forecast, 2020-2027”. The report states that the market value stood at USD 19.96 billion in 2019 and is expected to register a CAGR of 9.9% from 2020 to 2027.


The COVID-19 pandemic outbreak is predicted to impede the energy management system market growth in 2020 as declining industrial activity, remote working, social distancing, and staggered opening of economies have caused a drastic drop in energy demand, globally.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/energy-management-system-market-101167


Yokogawa Acquires Critical Stake in APB


Yokogawa Electric Corporation announced in March 2020 that it has acquired capital stake in the Japanese start-up APB Corporation, which gathered fame for its “All Polymer Battery” made from lithium-ion. Yokogawa’s motive behind this purchase is to expand and strengthen its energy management system portfolio through the addition of energy-efficient batteries to its EMS offerings. Under the agreement, Yokogawa will supply energy management technologies and tools necessary for the efficient functioning of large-scale storage batteries, which is APB’s forte. APB will now be able to build and sell highly sophisticated storage batteries for renewables using Yokogawa’s expertise in EMS.


Active Adoption of Grid Digitization Solutions to Bolster Market Spirits


Grid digitization technologies and solutions are gaining traction in many parts of the world. According to the Italian Institute for International Political Studies (ISPI), investments in digital grid services & technologies and data intelligence reached USD 35 billion in 2018. The benefits offered by digital technologies are pushing countries to actively promote the adoption of digital tools for grid management. For example, with an investment of more than USD 1 billion, Norway rolled out smart meters in 2018 covering nearly all households across the country. In the European Union, countries are steadily implementing the Clean Energy Package devised by the European Commission to monitor and manage energy performance of member countries. These rapidly evolving dynamics of the energy & power sector are expected to propel the EMS market growth during the forecast period.


Growing Interest in Novel Energy Projects to Fuel Market Competition


Surging demand for energy around the world has led to the initiation of novel projects aimed at establishing efficient energy management systems. Key players in this market are developing products and formulating strategies to capitalize the rapidly expanding energy & power industry. Several large companies such as Eaton and Honeywell are engaging in acquisition activities to broaden their presence and add innovative creations to their portfolio. New entrants in the market are seeking to build their position and brand value through investments in R&D, with many of them focusing on capturing the thriving renewables sector.


Industry Development:



  • January 2020: Boston-based Enel X and Salt River Project, one of Arizona’s largest public utilities, collaborated to help consumers in Phoenix to reduce energy usage during peak hours. Enel X will deliver demand response resources to support and stabilize the grid during times of high demand.


List of Key Players Covered in the Energy Management System Market Report:



  • Intel Corporation (California, United States)

  • Tata Consultancy Services Limited. (Mumbai, India)

  • Mitsubishi Hitachi Power Systems, Ltd. (Kanagawa, Japan)

  • Siemens (Munich, Germany)

  • Enel X (Boston, United States)

  • Tendril Networks Inc. (Boulder, United States)

  • Schneider Electric SE (France)

  • Mitsubishi Electric Corporation (Tokyo, Japan)

  • Honeywell International Inc. (North Carolina, United States)

  • Azbil Corporation (Japan)

  • Yokogawa India Ltd. (Tokyo, Japan)

  • Actis Technologies Pvt. Ltd. (Mumbai, India)

  • Operation Technology, Inc. (California, United States)

  • SAP SE (Walldorf, Germany)

  • Eaton (Dublin, Ireland)

  • Cisco System Inc. (California, United States)

  • General Electric Co. (Boston, United States)

  • Rockwell Automation Inc. (Wisconsin, United States)

  • IBM Corporation (New York, United States)


Further Report Findings:



  • The oil & gas end-user segment commanded the EMS market with a share of 23.5% in 2019 and is expected to lead the market owing to increasing share of hydrocarbons in energy generation worldwide.

  • North America is expected to dominate the energy management system market share for the foreseeable future as a result of execution of industry-targeted energy conservation programs in the US and Canada. The region’s market size in 2019 stood at USD 7.50 billion.


Table of Segmentation:








































ATTRIBUTES    



DETAILS        



Study Period



2016-2027



Base Year



2019



Forecast Period



2020-2027



Historical Period



2016-2018



Unit



Value (USD million)



Segmentation



By Type



  • System


    • Home Energy Management System

    • Building Energy Management System

    • Industrial Energy Management System


  • Services


    • Monitoring & Control

    • Implementation & Integration

    • Maintenance

    • Consulting & Training




By End User



  • Oil & Gas

  • Manufacturing

  • Building Automation

  • Energy & Utilities

  • Automotive

  • Pharmaceutical

  • Others (Retail, Education)



By Region



  • North America (the U.S., and Canada)

  • Europe (the U.K., Germany, France, Italy, Spain, and Rest of Europe)

  • Asia Pacific (China, Japan, India, Southeast Asia, and Rest of Asia Pacific)

  • The Middle East & Africa (GCC, South Africa, and Rest of the Middle East & Africa)

  • Latin America (Mexico, Brazil, Argentina, and Rest of Latin America)


Energy Management System Market
  • PDF
  • 2019
  • 2016-2018
  • 180

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

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