China Energy Management System Market to Exceed USD 2 Billion by 2024: Global Market Insights, Inc.
Through this trend, the global energy management system market is projected to record substantial gains over the forecast period.
SELBYVILLE, Del., Aug. 21, 2019 /PRNewswire/ -- Energy management system (EMS) market is set to experience thriving growth in the forthcoming years impelled by environmental and financial benefits of EMS. Apart from the aforementioned benefits, strict government regulations pertaining to energy consumption and efficiency would be another favorable factor that would propel the energy management system market size expansion over the forecast period.
The growth opportunity provided by the market is so significant that Silicon Valley tech giants like Google and Amazon have started foraying into the energy sector. Big techs entering old industries isn't unheard of: foray into an old industry on the back of technological capabilities, introduce significant efficiencies, and dominate the landscape.
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However, this time around, the primary goal of these tech giants would not be that of domination. Instead, tech companies are expected to help support the overall electrical grid infrastructure and teach industries in how to use energy efficiently. Through this trend, the global energy management system market is projected to record substantial gains over the forecast period.
With Google and Amazon already populating the industry landscape, it just goes to show the extent to which large tech corporations are adopting an active approach to energy management.
Moving forward, energy management system vendors like Schneider Electric and Siemens are expected to boost their energy management initiatives. This trend is heralding that many more corporations would be making their way to the energy management industry. The resulting conditions are slated to be significantly beneficial for the global EMS industry outlook.
When considering market segmentation by service, the industrial energy management system (IEMS)-based EMS market size is expected to surge substantially in the coming years. The industrial sector is responsible for consuming the most delivered energy than any other sector.
Currently, the industrial sector consumes approximately 54% of total delivered energy generated throughout the world. According to the U.S. Energy Information Administration (EIA), the global industrial sector energy consumption is slated to go up by an average 1.2% per year.
This growing energy demand, when coupled with strict government regulations pertaining to carbon emissions, would be further widening revenue streams for the global energy management system market through IEMS during the forecast timeframe.
From a regional frame of reference, Europe is expected to emerge as a prominent EMS market growth facilitator over the forecast time period. The European Union, under its Energy Efficiency Directive 2012/27/EU, set itself a 20% energy conservation target by 2020 – when compared to the anticipated energy use in 2020.
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Achieving this goal was roughly equivalent to turning off around 400 power stations. In 2018, the European Commission unveiled a revised Energy Efficiency Directive. The revisions updated certain provisions and introduced a couple of new elements. It also established the EU energy efficiency goal for 2030 to 32.5%. Moreover, the commission also introduced a possible upward revision clause by 2023.
Estimates claim that Germany, driven by the rising propagation of several energy efficiency programs, held close to 25% of Europe's energy management system market share in 2015. As per estimates, Germany EMS industry size was worth USD 1 billion in 2015.
The favorable conditions created by the Energy Efficiency Directive would be allowing the Europe market to bring in considerable revenue growth from across the member states in the coming years.
Powered by the aging infrastructure and rising fuel depletion, the U.K. accounted for 20% of Europe's market share in 2015.
Apart from Europe, the APAC energy management system market would also be recording momentous growth in the forthcoming timeframe. According to The Climate Group, China would emerge as a leading growth facilitator in this regard.
The China Energy Conservation and Environmental Protection Group (CECEP) would be paving the way for market expansion. The group's aim of triggering a shift towards an environmentally friendly and energy-conserving society would create a solid foundation for energy management system vendors to promote system adoption.
Estimates claim that China's EMS market size, by 2024, will be worth over USD 2 billion, driven by the robustly surging demand for reliable power in the region.
What does the research report offer?
This energy management system (EMS) market report facilitates an in-depth analysis of all industry segments comprising component, service, end-user, competitive landscape and region. The report offers insights on the industry based upon several key parameters like industry outlook, growth drivers, industrial landscape, global trends that define market segmentation and regional drivers that influence the commercialization graph of the market landscape.
Prominent drivers with regards to the service segment facilitate remunerative growth projection throughout the forecast time period, most exponentially expanding trends as well as each segment's industry share.
Browse key industry insights spread across 299 pages with 367 market data tables and 42 figures and charts from the report, "Energy Management System Market By Service (IEMS, BEMS, HEMS), Component (Metering and Field, Hardware, Software, Networking Device, Control Systems, Sensors), End-User (Power and Energy, IT, Manufacturing, Enterprise, Healthcare), Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast 2024," in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/energy-management-system-EMS-market
With respect to regional analysis, the energy management system market report is segmented into U.S., Canada, U.K., Spain, Germany, Italy, France, Turkey, Russia, Poland, Netherlands, Japan, China, India, South Korea, Singapore, Indonesia, Philippines, Malaysia, Vietnam, Thailand, UAE, Qatar, Saudi Arabia, Iran, South Africa, Argentina and Brazil. The regional markets are further bifurcated on the basis of availability of market players, consumer base, market contribution, alongside many other aspects.
Moreover, the energy management system (EMS) market report also elaborates on several key parameters that can help stakeholders in implementing business practices easily. The market report also contains important information relating to SWOT analysis, several different industries driving factors, and more.
The aforementioned research report further offers industry analysis, detailed executive summary, overview of numerous global trends, market segmentation insights and important industry insights in the energy management system (EMS) industry.
Additionally, deliverables with regards to the regulatory reference frame and competitive spectrum have been covered within the research report alongside innovative business strategies that prominent industry players are incorporating throughout the industry landscape.
Table of Contents (ToC) of the report:
Chapter 4 Energy Management System Market, By Service
4.1 Global market share by service, 2017 & 2024
4.2 IEMS
4.2.1 Global market from IEMS, 2013 – 2024
4.2.2 Global market from IEMS, by region, 2013 - 2024
4.3 BEMS
4.3.1 Global market from BEMS, 2013 – 2024
4.3.2 Global market from BEMS, by region, 2013 - 2024
4.4 HEMS
4.4.1 Global market from HEMS, 2013 – 2024
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/energy-management-system-EMS-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Energy Management Systems Market by Service, Component, End-User, Region 2024
The EMS market report contains important information relating to SWOT analysis, several different industries' driving factors, and more.
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Energy Management System Market Size
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