Deerfield Beach, FL -- (SBWIRE) -- 11/07/2016 -- Zion Research has published a new report titled "Energy Management System (EMS) by Software (Utility, Industrial, Residential, Enterprises Energy Management) Market - Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021"According to the report, the global energy management system (EMS) market accounted for USD 31,294.6 million in 2015 and is expected to reach USD 63,161.4 million by 2021, growing at a CAGR of around 12.4% between 2016 and 2021.

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Energy Management System (EMS) is a group of energy management software tool used by operators of utility grid for monitoring the performance of generation and transmission systems. In addition, energy management system is also used to control, and optimize the performance of generation or transmission system. This computer technology is also referred to as SCADA. Energy management systems are also regularly used by individual commercial entities to monitor, measure, and control their electrical building loads. Energy management systems can also offer metering, sub metering, and monitoring functions that permit facility and building managers to collect data and looming that allows them to make more informed decisions about energy activities across their sites.

The market of global energy management systems has been accelerated by rising awareness toward efficient energy management in industrial sector for safety concern. Moreover, rising energy consumption in industries in global arena and price volatility are the major precursor for propelling the growth of energy management systems market. Furthermore, under the energy conservation act it is mandatory to have an energy audit carried out by accredited energy auditor in many countries. Thus mandatory regulations and policies for energy conservation is expected to fuel the growth of management systems market. In addition, to fulfill corporate responsibility and maintain the brand image of organization are also considered as another factor for pushing the growth of energy management systems market. However, high initial cost of energy management software can restrict the growth of energy management systems market. Nonetheless, up-coming concepts of smart cities projects in many developing countries like India will serves as major opportunities for upcoming growth of energy management systems market.

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Based on software, energy management system markets are classifies into five types: utility energy management software, industrial energy management software, enterprise energy management software, residential energy management software and others. Among the entire software segments industrial EMS was contributed maximum to the market share in 2015 followed by enterprise energy management software. Energy efficiency is playing an important role in industry. Moreover, an enterprise energy management system consolidates energy related data into a data warehouse, and provides a platform for tools to easily access the data and obtain actionable information. Enterprise energy management software was a second largest segment in 2015 serves approximately 18% of market share in terms of revenue.

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Based on geographies, the global market of energy management system is bifurcated into five regions: North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Global energy management system was dominated by North America in 2015 due to increase preference towards efficient energy management in this region. North America accounted approximately more than 40% of the global energy management system market due to mark presence of industrial sector in the U.S. coupled along with strict amendment of regulations and policies related to power consumption. Asia-Pacific is the fastest growing market, owing to its larger population and booming industrial sector especially in China. From past few years, many industrialists penetrated in this region due to its low operation/manufacturing costs which attract decision makers to setup manufacturing plant serves in China and others Asia Pacific countries serves as a major deriving factor for growth and development during forecast period. Emerging economy like Brazil is expected to fuel the growth in Latin America region.

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Key market player of energy management system market are Asea Brown Boveri (ABB) Ltd, Cisco Systems, Inc., General Electric Company, Honeywell International, Inc., International Business Machine Corporation, Schneider Electric SE, Siemens AG, Emerson Process Management, CA Technologies and Eaton Corporation PLC.

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