An energy management system (EMS) is a computer-aided tool that the operators of electric utility grids use for the purpose of monitoring and managing the performance of generating and/or transmission networks. EMSs are also known as energy optimization systems (OESs).
According to the International Organization for Standardization (ISO), the components of an energy management system include defining and implementing an energy strategy, establishing energy use targets that are attainable, designing action plans to achieve them, and tracking progress toward achieving the targets. In order to cut down on energy costs, some potential solutions include introducing innovative equipment that is more energy-efficient, cutting down on energy waste, or improving existing operations.
In 2021, the North America energy management systems (EMS) market size was estimated to be around billion dollars, and it is anticipated that this figure will increase to billion dollars by 2030. During the period covered by the forecast (from 2022 to 2030), it is anticipated that the market will expand at a compound annual growth rate of apporx. 13.3%. A framework for controlling energy consumption by energy users, such as industrial, commercial, and public sector organisations, is referred to as an energy management system (EMS). It provides assistance to enterprises in the process of locating and developing energy-saving technology, particularly that which does not necessarily call for a big initial investment. To properly construct an emergency management system (EMS), specific expertise and extensive training of staff are typically required.
Get more information on this report Download Sample Report
Homes, factories, and businesses of all sizes have been rapidly embracing energy management systems in recent years in order to comply with government laws, save money, and maximise their efficiency in terms of energy use. Costs may be cut with the use of the major components of EMS, which are measurement, communication, and software application. Research conducted by MIT found that buildings lose at least 30% of their total energy, which is potentially recoverable with the assistance of EMS.
Products and services that are able to monitor, control, or analyse energy are included in building energy management systems. The primary goods and services consist of utility demand response programmes, office automation services, personal energy management, data analysis and visualisation, audits, and associated security services.
Input signals might be analogue or digital, and they represent things like the temperature and humidity of the structures. BEMS are essential components in the process of managing the amount of energy required by big, complex structures and multi-building complexes.
According to the United States Department of Energy, the buildings sector accounted for approximately 76% of the electricity that was used. This resulted in a considerable amount of associated greenhouse gas (GHG) emissions, which is why it is necessary to reduce energy consumption in buildings in order to comply with the national energy and environmental challenges and to decrease costs for building owners and tenants.
According to NRCan, approximately 81% of emissions in Canada are caused by the country's energy use. Because of the country's severe weather, expansive geography, and spread-out population, Canadians have a higher energy consumption rate. There will be many obstacles to overcome during the process of shifting to an energy system with fewer carbon emissions. Nevertheless, they also present opportunities for Canada to be a global leader by supporting innovative technologies in the power and energy sector, such as promoting growing renewables and cleantech sectors and, as a result, fueling the market. These opportunities are presented by the fact that the Canadian government is currently investing in renewable energy.
The proportion of the buildings sector's energy demand that is met by fossil fuels has fallen marginally, levelling out somewhere around 36%. In addition, as a result of these efforts toward the execution of the SDS project, it is anticipated that the CO2 emissions from the construction sector would decrease to 8.852 GtCO2 by the end of the year 2020.
The requirement of significant financial expenditures in order to implement solutions for energy management systems acts as a global barrier to the expansion of the industry. In addition, there is a growing demand for innovative methods of energy management all around the world. The expansion of the worldwide market for energy management systems is being hindered by the fact that many small and medium-sized enterprises are still ignorant of the benefits of energy management systems. Due to the massive infrastructure of their operations, large businesses are increasingly embracing innovative energy management systems. On the other hand, small and medium-sized firms are finding it difficult to use the technology due to the high expenses of setup and execution.
Based on products, the North America energy management systems (EMS) market has been divided into three categories: industrial energy management systems (IEMS), building energy management systems (BEMS), and home energy management systems (HEMS). During the projected period, the industrial energy management systems (IEMS) sector is likely to dominate the worldwide market. For monitoring real-time power consumption trends and minimising costs, EMS has a considerable market share in the industrial sector, notably in the manufacturing and power industries.
Due to growing deployment of the system in business parks, hospitals, shopping malls, IT enterprises, and other commercial areas, the building energy management systems (BEMS) product market is predicted to grow considerably throughout the forecast period. The increased awareness of smart energy management and power savings among manufacturers is moving this industry forward.
On the basis of components, the energy management systems (EMS) market has been divided into controllers, batteries, sensors, software, display devices, batteries, and others. During the projected period, the software component segment is likely to dominate the worldwide market. Integration of data analytics software into existing modules has been one of the industry's important achievements throughout time. BuildingIQ and Ecova, for example, have developed industry-specific software platforms that allow organisations to run programmes and algorithms for improved outcomes. As a result, market growth is projected to be fueled by increased software use in energy management systems.
Based on verticals, the energy management systems (EMS) market is divided into telecom & IT, power & energy, retail & offices, healthcare, manufacturing, and others. During the projected period, the power & energy category is expected to dominate the worldwide market. The rising need for energy consumption monitoring in a variety of industries, including power generation, oil and gas, chemical, and petrochemical complexes, has resulted in the monetization of energy management system modules.
The retail & offices category is expected to grow at the quickest rate throughout the projection period, thanks to energy-efficiency management techniques implemented by various firms. Increasing awareness of the benefits of energy management and growing enterprises employing it to enhance efficiency and lower operating costs will drive growth during the projected period.
Country wise Growth Insights Request Sample Pages
Because of its well-established network infrastructure and extensive adoption of energy management systems in different industries such as electricity, retail, manufacturing, retail, and others, North America is predicted to be the largest North America energy management systems (EMS) market throughout the forecast period.
As commercial, residential, and industrial users continue to push adoption in order to realise energy savings, the energy management systems market in the United States area remains an important market. After China, the United States is the world's second-largest power user. Furthermore, a number of critical government policy directives, rising energy costs, and rigorous greenhouse gas emission rules are all boosting demand for energy-efficient solutions.
Renewable energy sources are being increasingly optimised throughout the country. According to the Energy Information Administration, the country's renewable energy output increased from 11,527 to 11,777 trillion Btu in 2020.
Furthermore, according to Forbes, data centres in the United States consume more than 90 billion kilowatt-hours of electricity per year, necessitating the construction of 34 massive (500-megawatt) coal-fired power plants. The number of new data centre projects in the nation is also increasing.
As a result, the country is seeing a number of investments in energy efficiency across data centres. As a result, the Federal Energy Management Program (FEMP) has been created to encourage businesses to enhance their data centre energy efficiency.
General Electric acquires Opus One Solutions Energy Corporation, a software business that helps optimise energy planning and operations. General Electric will benefit from this purchase in terms of planning, optimising, and trading renewable and distributed energy resources (DERs) to allow a contemporary grid.
Johnson Controls, a worldwide pioneer in smart, healthy, and sustainable buildings, has announced the launch of OpenBlue Net Zero Buildings as a Service in July 2021. Johnson Controls will act as a one-stop shop for companies aiming for net-zero carbon emissions and renewable energy. The service recognises that clients must plan, execute, track, and fulfil their goals.