The world currently lacks energy security and improved and efficient access to electricity. Use of energy management systems in various applications such as industrial, building and home can make the world more energy efficient in line with the environmental and climate norms.
Albany, NY -- (SBWIRE) -- 01/05/2017 -- This research study analyzes the energy management systems market in terms of revenue (US$ Mn). The energy management systems market has been segmented on the basis of component, application, and geography. The regional segment has been further divided into 15 sub-segments that comprise 11 countries which are major players in the global energy management systems market. For the research, 2014 has been taken as the base year while all forecasts have been given for the 2015–2024 period. Market data for all the segments has been provided at the regional as well as country-specific level for the 2014–2024 period. The report provides a broad competitive analysis of companies engaged in energy management systems manufacturing and installation business.
The report also includes the key market dynamics such as drivers, restraints, and opportunities affecting the global energy management systems market. These market dynamics were analyzed in detail and are illustrated in the report with the help of supporting graphs and tables. The report also provides a comprehensive analysis of the global energy management systems market with the help of Porter's Five Forces model. This analysis helps in understanding the five major forces that affect the market structure and profitability of the global energy management systems market. The forces analyzed are the bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitutes, and degree of competition.
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The report provides detailed insights into the energy management systems business globally. There are currently numerous drivers for the energy management systems market. One of the most prominent drivers is the stringent norms and regulations to reduce carbon footprints globally, mandating higher investments in energy management systems based solutions. Apart from this, energy management systems enables organizations to increase efficiency and reduce operational costs. Market attractiveness analysis was carried out for the energy management systems market on the basis of geography. Market attractiveness was estimated on the basis of common parameters that directly impact the market in different regions.
The scope of energy management systems is vast and extends from heating, ventilation, air conditioning and infrastructure to supply chain. Growth potential for the energy management systems market is provided by these energy consumption avenues. With the development of software, and equipment technologies, the market for energy management systems is expected to expand substantially. Growth in the market for energy management systems can be attributed to higher focus on increasing energy efficiency and achieving operational targets at low costs. The market has received further impetus from rising environmental concerns to reduce carbon footprints. Energy management systems eco system is evolving with availability of several technologies and solutions, however, users of energy management systems have been selective in terms of implementation. Regulations related to energy consumption and environment concerns are shaping the next wave of the energy management systems. These regulations would have a significant impact on the energy management systems market in terms of implementing energy management plan as a part of a company's sustainability strategy.
The energy management systems market is segmented in terms of component, application and geography. By component the energy management systems market is segmented into hardware components, software, communication networks, control system and sensors and other equipment. By application the market is segmented into industrial, building and home. The energy management systems market was analyzed across five geographies: North America, South & Central America, Europe, Asia Pacific, and Middle East & Africa. North America, held the largest market share followed by Europe in 2014. Rise in awareness about the benefits of energy management systems coupled with huge investments in energy management systems solutions is the primary driver for the energy management systems market in North America. South & Central America and Middle East & Africa have experienced sluggish growth in the year 2014.
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Regional data has been provided for each sub-segment of the energy management systems market. Key market participants in the energy management systems market include Emerson Process Management, Eaton Corporation Plc, General Electric Company, Honeywell International, Inc., Johnson Controls, Inc., Mitsubishi Electric Automation, Pacific Controls, Rockwell Automation, Inc., Schneider Electric SE and Siemens AG.
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