The global energy management system market is growing at a CAGR of 17.3% during 2018 – 2022. Based on components of EMS, control system was the largest market. EMS enables large corporations and firms to monitor their energy consumption, and further manage and control it, to achieve energy efficiency goals by using sophisticated energy usage control techniques. However, to enhance the adoption of EMS, governments in many countries are expected to come up with laws, mandating the usage of these systems in large corporate and commercial buildings.
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With the focus on climatic changes, and saving the environment to reduce carbon footprint, the EMS systems are expected to become a fully commercial and mature market, from an evolving market currently. The EMS are then expected to integrate with the operation optimization systems as well, thereby helping the corporates and nations achieve even higher levels of energy efficiency goals.
EMS can help the nations to achieve the national carbon footprint reduction goals. The national governments can also achieve reduction in the energy consumption which will help them reduce the carbon raw material costs as well. For instance, the U.S. is planning to enact a federal carbon regulation which strategizes on future energy supply strategies, amid which there is a strategy to implement EMS. Energy management systems will not only help save energy, and enable corporate to even sell back the energy, but will also help the nation to be better prepared during emergency situations with an appropriate energy backup.
Some of the major players operating in the global energy management system market include Schneider Electric, Honeywell International, Siemens AG, Johnson Controls, Elster Group, C3 Energy, GridPoint Inc., General Electric Company, and Eaton Corporation.