Home energy management system is expected to hold the largest share in the Energy Management System (EMS) application market and is projected to grow at the highest CAGR from 2016 to 2021.
EMS could be defined as a technical system capable of gathering, analyzing, reporting, and visualizing energy data. In short, the EMS is capable of framing end-to-end processes and services and integrating the associated technologies over a common platform. MarketsandMarkets expects the global Energy Management System Market to grow from USD 32.41 billion in 2016 to USD 76.75 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 18.8%. The demand for the efficient EMS technology solutions is increasing due to centralized automation of energy, mandatory energy management policies and regulations by the regional authorities, industrial organization’s intent to reduce operational cost, and carbon footprint management.
Today, on ground level basis, some of the product-based companies are working on designing products that consume less energy and reduce carbon emission. Technology giants such as Apple and Cisco are looking for ways to develop products that consume less energy. According to the Apple’s environmental report of 2015, it uses three methods to reduce the carbon footprints in its products. The methods include using more efficient power supplies to bring electricity from the wall to the device, more efficient hardware, and smarter power management software. With regards to Cisco, carbon emissions are produced in 90% of Cisco products while they are in use. This is the reason Cisco is focusing on designing energy efficient products, power supplies, and integrated circuits, and creating co-operative solutions to help customers reduce their emissions.
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The residential EMS software expected to have a high growth rate during the forecast period. The increasing consumer interest in smart appliances and need for mobile middleware platform are some of the new revenue opportunities for the vendors. Additionally, the Demand Response Management (DRM) solution is leading the EMS solutions market in terms of annual growth rate. There is a good growth opportunity for the DRM vendors that offer cloud-based DRMS solution for residential sector.
North America is expected to be the leading market for EMS in terms of market size in the next five years, while Europe is expected to follow closely. Office & commercial buildings and power & energy verticals are estimated to have high growth rates in the next five years for EMS technology application.
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