Demand Management, Energy Efficiency, Industrial - February 19, 2016
Study: Energy management system market expected soar in coming years
The global energy management systems, or EMS, market size was estimated to be $20.49 billion in 2014 and significant growth is expected in coming years, according to a new report from Grand View Research.
Industrial sectors including manufacturing, telecom, oil and gas, and power will be major drivers of this expected growth, the study concluded.
Industrial energy management systems dominated the global market and accounted for over 60% of total revenue in 2014, according to the report. The systems are expected to grow at an estimated CAGR of over 13% from 2015 to 2022.
Building Energy Management Systems — which represented more than 30% of the industry in 2014 — are expected to grow more than 15% from 2015 to 2022 due to increasing installations in shopping complexes, telecom facilities, business parks, hospitals and IT establishments, the study found.
Sensors are some of the main products used in EMS. Commonly used sensors include optical cameras, heat-sensing devices, thermal cameras, motion-detecting sensors and optical trip wires. Software is another large product segment poised for growth. Companies such as Ecova, Building IQ and C3 Energy are leaders in developing sector-specific EMS software platforms.
According to the report, the global EMS industry is moderately consolidated among four companies: Siemens, Honeywell, Schneider Electric, and Elster Energy, which accounted for just under 70% of total 2014 revenue. Schneider Electric is currently the dominant player.