Energy management systems is a system of computer aided tools used to operate electric utility grids and to optimize the performance of the generation and transmission lines. Energy management systems are commonly used by the individual commercial entities to monitor, measure, and control their electrical building loads. Energy management systems can be used to centrally control devices like HVAC units and lighting systems across multiple locations, such as retail, grocery and restaurant sites. Energy management systems can also provide metering, sub metering, and monitoring functions that allow facility and building managers to gather data and insight that allows them to make more informed decisions about energy activities across their sites.
EMS can also refer to a system designed to achieve energy efficiency through process optimization by reporting on granular energy use by individual pieces of equipment. Newer, cloud-based energy management systems provide the ability to remotely control HVAC and other energy-consuming equipment; gather detailed, real-time data for each piece of equipment; and generate intelligent, specific, real-time guidance on finding and capturing the most compelling savings opportunities.
Energy Management Solution
Energy management systems are gaining popularity since help gather data and insight that allows them to make more informed decisions about energy activities across their sites. The global energy management system market is expected to garner $44.4 billion by 2020, registering a CAGR of 13.76 % during the forecast period 2014-2020. The market is set to grow due to increasing energy demands in manufacturing industries, rising installation of the renewable and rising adoption of IoT and cloud-based platforms. North America was the largest revenue-generating region in the energy management systems market in 2013.
However, Asia-Pacific is expected to be a rapidly growing market with estimated revenue of $10.67 billion by 2020, growing at a CAGR of 19.1% during 2014‐2020. Country government are keen to make investments into emerging technologies like Energy management systems (EMS) that enable an organization to collect real-time information on the net energy use through monitoring,assessing, and visualizing energy consumption. Owing to its benefits the government has been extensively procuring energy management system software’s for up gradation of the power management system.
Moreover, tenders for energy management systems are being floated for installation, modification, maintenance, and repair services to energy management system, maintenance and development services. Moreover, request for proposal for Technical support for introduction of Energy Management System, Licensors & Distributors of Software for an Energy Management System (EMS), hardware services for installation etc. are seen to be substantially rising with the growth of the market size.
European government is undertaking larger power projects to be equipped with energy management systems. Tabede of Belgium has undertaken a power project to equip buildings with integrated energy management system. Similarly Holisder a project initiative in Spain aims at Integrating real-intelligence in energy management systems enabling holistic demand response optimization in buildings and districts. These companies are targeting residential power network and regional power network to go deep down in the market.
Though the market size is still at the nascent stage ABB, GE, Siemens, Wartsila, Mitsubishi are amongst the emerging players in the segment. They have been developing a deeper market understanding by exploring opportunities through public contracts across the segments like maintenance, installation, and supply of the energy management system. With growing opportunities the companies have been adopting various growth strategies to capture larger proportion of the market segment.Joint venture, consortium with the local firms, merger and acquisition are some of the notable strategies adopted by these firms to sustain the competition.
Energy management has been becoming an essential tool for the companies and across all the verticals. Along with adopting measures for installation of Energy management system, government is subsidizing the purchase of the energy management systems for the households that have been positively encouraging growth.