Portland, OR -- (SBWIRE) -- 06/20/2017 -- Among the three different types of energy management systems, IEMS generated the highest revenue in 2014 and would continue to dominate the market in the coming years. Growing industrialization and the need to optimize energy consumption are the key factors contributing to the market growth. However, the market of Building Energy Management Systems (BEMS) would witness higher growth, supplemented by increasing demands in the verticals of healthcare, IT & Telecom along with the sectors of infrastructure and construction.
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Asia-Pacific Energy Management System Market Report, published by Allied Market Research, forecasts that the market is expected to garner $11.8 Billion by 2020, registering a CAGR of 19.5% during the period 2015-2020. Growing industrialization and advancements in technologies majorly supplement the growth of energy management systems market in the Asia Pacific region. Korea was the highest revenue generating country in 2014, followed by Japan and China. Energy management system for residential end users would exhibit a high growth rate during the forecast period owing to increase in the per capita disposable income, growing awareness, and stringent environmental regulation policies.
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The Asia Pacific Energy management systems market is segmented into component, type, end user, vertical and country.In the component segment, software accounts for the highest revenue contributing about 36% of the market revenue in 2014. The software segment would dominate the market in the forecast period 2015-2020, owing to its high price and rapid technological changes. However, the controller segment would exhibit a higher CAGR of 23% in the forecast period 2015-2020.
Among end users, the commercial sector would generate the highest revenue over the forecast period. The sector includes verticals such as retail & offices, manufacturing units, power & energy, telecom & IT, hospitals, educational institutions and others where only BEMS & IEMS is applied.
The sectors such as manufacturing, power & energy, telecom & IT, retail & offices among others flourish in Asia Pacific region owing to the developing economies, growing industrialization and favorable government regulations & initiatives. Therefore, adoption of Energy management system becomes crucial in most sectors owing to the increasing energy requirements, rising energy prices and the need to control and reduce carbon emissions whilst magnifying their efficiency. Power & energy sector accounted for the largest share, contributing about 40% of the overall EMS Asia Pacific market in 2014. However, retail & office sector is expected to witness the highest CAGR 23.3% during the forecast period 2015-2020.
Key Findings of Asia-Pacific Energy Management System Market:
-Korea contributes the largest share in the market owing to the stringent environmental regulation policies, favourable government initiatives and growing industrial & manufacturing sector.
-IEMS accounts for the highest revenue, contributing about 71% of the market revenue in 2014 and would continue to dominate the market.
-Increased adoption in power & energy, manufacturing and telecom & IT sector is likely to supplement the swift growth of Asia Pacific EMS market.
This report also outlines the competitive environment of the Asia Pacific EMS market, providing a comprehensive study of the key strategies adopted by market leaders. The prominent companies profiled in the report include, Azbil Corp., Schneider Electric, Siemens AG, Honeywell International, Inc., Johnson controls, Inc., among others.
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