Published on : Nov 29, 2017
ALBANY, New York, November 29, 2017: ResearchMoz.us has added a new research report to its repository, titled, “2017-2022 Energy Management Systems Report on Global and United States Market, Status and Forecast, by Players, Types, and Applications.” The report studies the market from every possible angle to find out its overall revenue, size, competitive dynamics, and growth prospects, going forward. It carefully examines the growth drivers and trends shaping the trajectory of the market. The aim is to offer stakeholders a proper understanding about the current trends and vulnerabilities of the market so as to enable them to take astute decisions.
The report begins by giving an overview of the market and the factors necessitating uptake of energy management systems. It is seen that the ever-soaring demand for energy worldwide is either being satiated through conventional energy sources such as natural gas, coal, and petroleum or through non-conventional ones, namely tidal, wind, solar, etc. An increasing population and rapid pace of urbanization is driving demand for electricity mainly. It has generated need for efficient energy management systems, which help in proper utilization of energy and also cost reduction. Energy management systems are used in power generation, transmission and distribution.
From a geographical standpoint, the U.S. in North America is a key market for energy management systems; it rakes in substantial revenue. This is because energy prices have been seeing a sustained uptrend in the nation and this has prompted adoption of such systems to save on the expenditure on energy. Apart from that, government regulations and legislations pertaining to energy efficiency, in order to keep pollution under control, and also incentives for deployment of such solutions, too, is benefitting the market. Growing use of smart grid services and strong competition among industrial entities are other growth drivers in the U.S. market.
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Posing a hindrance to the U.S. market for energy management systems is the dearth of skilled professionals to operate and maintain those and lack of focus on the market by various stakeholders. However, in the foreseeable future swift employment of modern technologies such as cloud computing infrastructure and its related services, namely SaaS (software as a service) will make the energy management systems more efficient and cost-effective and thus drive their market further forward.
Depending upon end-use segments, the energy management systems market can be broadly segmented into building energy management system, home energy management system, and industrial energy management system. Among them, the building energy management system contributes a majority share in the market. It is trailed by the home energy management system. The demand for industrial energy management system is being driven mainly by power, retail, and manufacturing sectors.
Product-wise, the energy management systems market can be divided into smart sensor, smart meter, and smart thermostat.
The major players in the U.S. market for energy management systems are C3 IOT, Eaton Corporation Plc, Echelon Corp., EnerNOC, Inc., General Electric Corp., Honeywell International Inc., Johnson Controls, Inc., Rockwell Automation, and Schneider Electric. The report studies their product offerings, key strategies, sales and revenues, market shares, and prospects going forward. It also banks upon market-leading analytical tools to understand the opportunities and pitfalls awaiting such companies.
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