U.S. Energy Management Systems Market Insights | Demand and SWOT Analysis | Forecast To 2024

Walmart is another big name that has chosen to pursue a blockchain-based path.

According to reports, the company has filed for a patent that will allow for blockchain to govern its energy management system.

The US Patent and Trademark Office (USPTO) has released a document recently revealing Walmart’s patent “for managing demand on an electrical grid using cryptocurrency and blockchain technology.”

According to research report "Energy Management System (EMS) Market by Software (Utility, Industrial, Residential, ECEM), Device (In-House Display, Smart Thermostat, Smart Plug, and Load Control Switches), Application, Solution, Vertical - Global Forecast to 2021", The EMS market size is expected 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% during 2016–2021.

Browse 70 market data Tables and 52 Figures spread through 154 Pages and in-depth TOC on "Energy Management System (EMS) Market - Global Forecast to 2021"Download PDF Brochure:  https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1189The major drivers for the upsurge in demand for EMS technology are mandatory regulations and policies, energy incentive programs, increasing concern for reducing carbon footprints, smart grid technology adoption, digitization of energy infrastructure, and need for centralized gird distribution management and control.Utility EMS software estimated to dominate the EMS software market share during the forecast period”The utility segment is estimated to have the largest market share among EMS software.

Lack of technological awareness and apprehensions regarding privacy & security have raised a number of concerns for the retailers, thereby hindering the adoption of smart solution in the utility industry.“Increasing consumer’s interest in efficient energy management and increasing need to improvise the utility sector are driving the growth of home energy management system application”According to MarketsandMarkets analysis, although today the Home Energy Management System (HEMS) market shows slow Year-Over-Year (Y-o-Y)growth potential, the market will most likely achieve a winning imperative towards the end of the forecast period as new and more efficient technological solutions will be introduced in the market.

The government has been actively involved with the energy efficiency and management standards for the residential sector, while the public and investor-owned utilities are also considering reducing the energy cost and consumption as a major priority factor in their management strategies.

This has pushed the residential energy management market toward the growth phase.Speak to Our Expert Analyst:  https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=1189The leading players in this market are ABB Group, Cisco Systems, Inc., General Electric Company, Honeywell International, IBM Corporation, Schneider Electric SE, Siemens AG, CA Technologies, Eaton Corporation, and Emerson Electric Company.About MarketsandMarketsMarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports.

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Energy Management System MarketBased on careful analysis, the report by Market Research Future (MRFR) states that the energy management system market is set to be highly profitable with the market value of USD 89 Billion by 2023, recording a healthy CAGR of 18% during the forecast period (2017–2023).Energy Management Systems (EMS) refers to a solution that includes software and associated hardware as well as communication systems for improvement of energy efficiency.

EMS find applications in a large number of verticals like telecom and information technology (IT), commercial and office buildings, power and energy, hospital, manufacturing, school and university Systems.

Moreover, the energy management systems market is highly fragmented, offering simple to complex energy monitoring dashboards along with software such as analytics of high degree.In addition, the growing use of smart grid services, increasing competition among industrial enterprises, and supporting government policies as well as incentives associated with energy efficiency will lead to a strong growth of the energy management market in the future.Market SegmentationThe market for energy management system is segmented into software, solution and vertical.The software segment includes utility EMS, industrial EMS, residential EMS and enterprise carbon & energy management.Whereas, the solution segment consists of demand response management, carbon energy management, utility billing and customer information system.The vertical-based segments in the global market are power & energy, telecom & IT, manufacturing, enterprise, healthcare and others.

The manufacturing centers consist of equipment that need to run continuously, a factor highly critical to the plant operations.

Thus, various manufacturing plants are making efforts to optimize their carbon footprint by making use of energy management systems, which has driven the growth of the manufacturing industry in the energy management system market.Regional InsightThe regional analysis of the energy management system market has been done for the regions of Asia Pacific, Europe, North America, and Rest of the World.Among these, North America has been estimated to be the largest market in the global market, owing to the increasing demand for adoption of building energy management systems (BEMS), resulting in a healthy environment across the building.Europe is set to acquire the second position in the global energy management system market, on account of government initiatives for the implementation of energy saving plans along with promotion of renewable energy resources.

For instance, the Italian government introduced the Energy Efficiency Certificate trading scheme, targeting energy service company entities along with Conto Termico, which mainly focusses on the building sector.Increasing industrialization and advancements in technologies supplement the growth of energy management systems market in the Asia Pacific region.

According to research report "Energy Management System Market by Software (Utility, Industrial, Residential, ECEM), Device (In-House Display, Smart Thermostat, Smart Plug, and Load Control Switches), Application, Solution, Vertical - Global Forecast to 2021", The EMS market size is expected 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% during 2016–2021.Browse and in-depth TOC on "Energy Management System (EMS) Market - Global Forecast to 2021"70 - Tables 52 - Figures 154 - PagesThe major drivers for the upsurge in demand for EMS technology are mandatory regulations and policies, energy incentive programs, increasing concern for reducing carbon footprints, smart grid technology adoption, digitization of energy infrastructure, and need for centralized gird distribution management and control.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1189Utility EMS software estimated to dominate the EMS software market share during the forecast period”The utility segment is estimated to have the largest market share among EMS software.

Lack of technological awareness and apprehensions regarding privacy & security have raised a number of concerns for the retailers, thereby hindering the adoption of smart solution in the utility industry.Increasing consumer’s interest in efficient energy management and increasing need to improvise the utility sector are driving the growth of home energy management system applicationAccording to MarketsandMarkets analysis, although today the Home Energy Management System (HEMS) market shows slow Year-Over-Year (Y-o-Y)growth potential, the market will most likely achieve a winning imperative towards the end of the forecast period as new and more efficient technological solutions will be introduced in the market.

The increasing energy demand, price volatility, government mandates, and increased spending over EMS are considered as the influential growth drivers for the HEMS market.Speak to Our Expert Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=1189North America is the leading region in terms of market share in the EMS market spaceNorth America is expected to hold the largest market share and dominate the smart grid market from 2016 to 2021.

The government has been actively involved with the energy efficiency and management standards for the residential sector, while the public and investor-owned utilities are also considering reducing the energy cost and consumption as a major priority factor in their management strategies.

This has pushed the residential energy management market toward the growth phase.The leading players in this market are ABB Group, Cisco Systems, Inc., General Electric Company, Honeywell International, IBM Corporation, Schneider Electric SE, Siemens AG, CA Technologies, Eaton Corporation, and Emerson Electric Company.About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.

Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients.

Industry InsightWhile the year of 2020 is an extremely eventful for energy management system due to COVID-19 breakthrough, the global energy management system market 2020 is showing some positive instincts, when studied by Market Research Future.

As per COVID-19 impact analysis, the market has the potential to show immense growth, which is recorded at a rate of 18% and is capable of reaching a valuation of USD 89 Billion by 2027.

The growth period has been estimated from the years 2020 to 2027.Top Impacting Factor Several companies in the energy management system market are vying suggestive steps to tackle the challenges resulting from the COVID-19 (Coronavirus) pandemic.

In-depth research about COVID-19 is providing current techniques and alternative methods to mitigate the impact on Coronavirus on the revenue of the energy management system market.Energy management systems are gaining recognition since they aid in gaining competitive advantage, surging productivity, and reduce energy costs.

Besides, the government policies toward energy conservation and the limited availability of fossils are drawing the attention of the market players, globally, which in turn, has motivated the growth for the forecast period.Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/2808As per the latest report, every industry is running with the help of energy, so it is essential to set up the energy management system.

With advancements in the latest technologies in the energy management system, such as small-signal analysis, there has been swell in the adoption of energy-efficient systems and diminish in carbon footprint.

The global energy management industry has witnessed a massive transformation over the past five years, owing to the increasing demand for building energy management systems.

Earlier, the industry had been driven by resources, however it is now driven majorly by technology and innovation.

With rapid implementation of building energy management systems, the commercial, industrial, and residential end users are able to conserve energy with the help of functions of building energy management system such as heating, ventilation, and air conditioning (HVAC) and lighting systems.

The advent of innovative software and services has resulted in reduced energy consumption and overall cost-effective operations, owing to more precise and resource-efficient approach.

As a result, the building energy management system is anticipated to progress due to the ever-growing affinity for more convenient and effective energy conservation systems than the traditional methods.The market research study offers a wide perspective of the building energy management system market and analyses its impact on the end users by providing critical insights into the direction of its future expansion.

The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models.As per the U.N. projections, Africa, is expected to register the highest population growth with an additional 1.30 billion people across the globe, by 2050.