Portland, OR, March 12, 2015 --(PR.com
)-- According to a new report by Allied Market Research titled, Energy Management Systems Market (Components, Type, Vertical, End-User and Geography) -Size, Share, Global Trends, Company profiles, Demand, Insights, Analysis, Research, Report, Opportunities, Segmentation and Forecast, 2013 - 2020, the global Energy Management System (EMS) market is expected to reach $44.4 billion by 2020, registering a CAGR of 13.75 % during 2014 - 2020.
Building Energy Management System (BEMS) is expected to grow swiftly and would drive the market significantly by the year 2020. In certain economies like Europe, government provides support and subsidies to encourage adoption of Home Energy Management System (HEMS), hence its demand is expected grow, thereby contributing to the total market size.
Among all types of EMS which include HEMS, BEMS, Industrial Energy Management System (IEMS), the adoption of BEMS is expected to increase rapidly due to its varied application in verticals namely, Healthcare, Telecom and IT, Educational institutions and Universities and Commercial building like shopping malls, offices etc. Presently, IEMS is the largest revenue generating segment of the EMS market and would continue to be the same by 2020, given its high product, installation and maintenance cost. The incorporation of big data and analytics has opened scope of technological advancements in better management and allocation of energy. This has transformed the market and is expected to be a crucial component of EMS in the coming years.
To view the report, visit the website at http://www.alliedmarketresearch.com/energy-management-systems-market.
Key findings of the study:
Global market for EMS would grow due to increased adoption across key sectors such as Power and Energy, Manufacturing, Telecom and IT, Healthcare and Commercial Enterprises during the forecast period (2014 - 2020)
IEMS would grow at the fastest CAGR during 2014-2020, contributing over half of the total market revenue by 2020
The need for energy efficiency and government regulations would continue to drive the global EMS market over the analysis period
Rapid growth is expected in the BEMS market, as the implementation of smart technologies and new business models by the existing as well as emerging participants is prevalent
Asia-Pacific is forecasted to be one of the most lucrative markets, in terms of growth given the economy is evolving rapidly
The market growth is attributed to innovation in Energy management and monitoring along with rising demand from manufacturing sector, power and energy and enterprises.
In order to gain a higher market share, in addition to the production launches, the companies are adopting acquisition/ partnership as key strategies. Companies such as Schneider, GridPoint and Elster etc. have collaborated with different industry experts to get access to the market as well as technologies of each other. Prominent companies profiled in the report include Schneider Electric, Siemens AG, Honeywell International, Inc., Elster Energy, Johnson controls, Inc., Gridpoint, Inc., C3 Energy and GE.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.