Global Energy Management System Market to Reach $30.15bn by 2025
The global energy management system market is projected to reach $30.15 billion by 2025.The study also highlights that the market is set to witness a CAGR of 23.37% between 2020 and 2025.
The comprehensive study of the global energy management system market extensively covers the following:
The global market size of the energy management system - analyzed and estimated keeping in consideration with COVID-19 impact, during the forecast period 2020-2025
- A detailed global and regional analysis of energy management system, including growth trends, driving forces, companies involved, and estimated energy management system market size with COVID-19 impact for more than 20 countries
- A competitive benchmarking of 25 key players categorized as equipment providers, and software companies that are influencing the energy management system market
- The investment and funding landscape of over $800.0 million in the global energy management system market from January 2018 to September 2020; evaluated on the basis of investments made for implementing energy management system in the field of HVAC, smart buildings, and industrial energy savings
- Energy management standards and specifications for implementing energy-efficient practices across industries to ensure energy conservation
Besides these parameters, the study also encompasses the market growth drivers, opportunities, market restraining factors, competition mapping, segmental analysis, and regional landscape.
This study indicates that the increasing demand for energy conservation and environmental safety, the evolution of smart grid, and favorable government policies and incentive programs, among others, are fueling the growth of the market.
The study highlights the various emerging opportunities, such as rising demand for electric vehicle charging infrastructure, increasing adoption of smart buildings, and rising scope for energy management in HVAC systems, that can be leveraged by players operating in the market.
To gain a holistic view of the market, data from different segments of the market has been analyzed minutely. These segments include different product offerings (sensors, controllers, software, services), end users (industrial, commercial, residential), types of energy management systems (IEMS, BEMS, HEMS), and regions. Each of these segments is further categorized into sub-segments to compile an in-depth study.
According to Arvind Pal, Lead Analyst, "Software, hardware, and support services are the types of products offered by the players in the energy management system market. In 2019, the software product type accounted for around 39% of the global energy management system market. The energy management software provides actionable insights to the end users using the real-time energy consumption data obtained through the hardware. However, during the forecasted period, support services are expected to display the highest growth of 24.40%, owing to the increasing demand for technical and advisory services to ensure the proper functioning of the energy management system.”
Key insights are drawn from in-depth interviews with the key opinion leaders of more than 40 leading companies, market participants, and vendors. The key players profiled in the report include ABB Ltd., C3.ai, Cisco Systems Inc., Cylon Controls Ltd., Engie S.A., General Electric, Honeywell International Inc., Ingersoll Rand plc, Johnson Controls, Rockwell Automation, Siemens AG, Schneider Electric, and Wattics Ltd.
The study also offers strategic reasoning for growth that can help organizations in tracking various products, trends, and technologies that are changing the dynamics of the market. The recommendations by BIS Research also offer bespoke research services to help organizations meet their objectives.
Who should buy this report?
- Equipment providers, such as ABB Ltd., Schneider Electric, Siemens, General Electric, and Rockwell Automation, among others
- Information technology solution providers, such as Cisco Systems Inc., C3.ai, and IBM Corporation, among others
- Business organizations, such as financial institutions, government agencies, manufacturing industries, and healthcare facilities
How can the market intelligence on energy management system add value to an organization’s decision-making process?
- Identify prominent indicators to adopt business growth strategies (such as M&A, partnerships, expansions, etc.) to grow in the global energy management system market
- Evaluate key opportunities unlocked through investments and fundings conducted in the market
- Analyze market share and position through global and regional market sizes in the energy management market and also understand the global addressable market in the next five years.
- Analyze the impact of stakeholders on the energy management system market
- Scrutinize how COVID-19 impacted the market dynamics and what is the expected market recovery scenario
- Identify the competitive strength of key players in the global energy management system market based on the evaluation of their market coverage and market potential
- Comprehend the energy management standards and specifications required at industrial premises to promote energy-efficient practices at work areas
Insightful Questions Covered to Enable Companies Take Strategic Decisions
- What are the key trends and expansion opportunities in the global energy management system market?
- What are the estimations for the global energy management system market size in terms of revenue for the period 2019-2025, and what is the expected compound annual growth rate (CAGR) during the forecast period 2020-2025?
- What are the expected outlook and revenue to be generated by the different types of product offerings, including software, hardware, and services, for the period 2019-2025?
- What are the expected outlook and estimated revenue of different types of energy management systems, namely, industrial energy management system, building energy management system, and home energy management system, for the period 2019-2025?
- What are the expected outlook and estimated revenue of different end users, namely industrial, commercial, and residential, for the period 2019-2025?
- What is the current market size, forecast, regional market trends of the energy management system across different regions, namely North America, South America, the U.K., Europe, Asia-Pacific and Japan, China, and the Middle East and Africa?
- What will be the impact of COVID-19 on the market size, market forecast, CAGR, and market dynamics of the global energy management system market across different market segmentations?
- What are the major driving forces that are expected to increase the demand for the global energy management system market during the forecast period 2020-2025?
- What are the major restraints inhibiting the growth of the global energy management system market?
- What kind of new growth strategies (mergers and acquisitions, partnerships, expansions, products, others) are being adopted by the existing market players to expand their market share in the industry?
- How is the funding and investment landscape in the global energy management system market?
- Which type of players and stakeholders operate in the market ecosystem of the energy management system, and what are their impacts on the dynamics of the global energy management system market?
- Which companies have achieved higher market coverage compared to their market potential in the global energy management system market?