Impact of COVID-19 on the Energy Management System Global Market to 2025 - ResearchAndMarkets.com

·4-min read

The "Energy Management System Market - A Global Market and Regional Analysis: Focus on Energy Management System Product and Application, Stakeholders Analysis and Country Analysis - Analysis and Forecast, 2019-2025" report has been added to ResearchAndMarkets.com's offering.

The global energy management system market is projected to grow from $10.55 billion in 2020 to $30.15 billion by 2025, at a CAGR of 23.37% from 2020 to 2025. The growth in the energy management system market is expected to be driven by the increasing demand for energy conservation and environmental safety, the evolution of smart grid, and favorable government policies and incentive programs.

This system has garnered the attention of all types of end-users, namely industrial, commercial, and residential. Catering to industrial end-users, the demand for energy management systems is due to the increase in higher electricity consumption caused in order to run heavy load equipment such as transformers, AC/DC motors, and cranes on a 24*7 basis.

The energy management system has garnered adoption in commercial sectors across various business organizations. Catering to the commercial end-users, the growth in the adoption of energy management systems is due to the increase in the energy cost applicable to commercial facilities due to high electricity consuming devices such as commercial transformers, DG sets, data centers, and HVAC systems.

The use of energy management systems has helped the residential consumers to analyze a set of data collected from sensors planted at the site. The energy management system has been adapted to not only improve the operational performance but also ensure a secure living environment for the end-users.

Key Questions Answered in this Report:

  • What are the key trends and expansion opportunities in the global energy management system market?

  • What are the estimations for the global energy management system market size in terms of revenue for the period 2019-2025, and what is the expected compound annual growth rate (CAGR) during the forecast period 2020-2025?

  • What are the expected outlook and revenue to be generated by the different types of product offerings, including software, hardware, and services, for the period 2019-2025?

  • What are the expected outlook and estimated revenue of different types of energy management systems, namely, industrial energy management system, building energy management system, and home energy management system, for the period 2019-2025?

  • What are the expected outlook and estimated revenue of different end users, namely industrial, commercial, and residential, for the period 2019-2025?

  • What is the current market size, forecast, regional market trends of the energy management system across different regions, namely North America, South America, the U.K., Europe, Asia-Pacific and Japan, China, and the Middle East and Africa?

  • What will be the impact of COVID-19 on the market size, market forecast, CAGR, and market dynamics of the global energy management system market across different market segmentations?

  • What are the major driving forces that are expected to increase the demand for the global energy management system market during the forecast period 2020-2025?

  • What are the major restraints inhibiting the growth of the global energy management system market?

  • What kind of new growth strategies (mergers and acquisitions, partnerships, expansions, products, others) are being adopted by the existing market players to expand their market share in the industry?

  • How is the funding and investment landscape in the global energy management system market?

  • Which type of players and stakeholders operate in the market ecosystem of the energy management system, and what are their impacts on the dynamics of the global energy management system market?

  • Which companies have achieved higher market coverage compared to their market potential in the global energy management system market?

Market Dynamics

Drivers

  • Increasing Demand for Energy Conservation and Environmental Safety

  • Evolution of Smart Grid

  • Favorable Government Policies and Incentive Programs

Challenges

  • High Cost of Deployment

  • Privacy and Security Risk

  • Business Strategies

  • Product Development and Innovation

Developments

  • Corporate Strategies

  • Mergers and Acquisitions

  • Partnerships, Collaborations, and Joint Ventures

Opportunities

  • Arising Demand for Electric Vehicle (EV) Charging Infrastructure

  • Increasing Adoption of Smart Buildings

  • Rising Scope for Energy Management in HVAC Systems

Companies Mentioned

  • ABB Ltd.

  • C3.ai

  • Cisco Systems Inc.

  • Cylon Controls Ltd.

  • Emerson Electric Co.

  • Engie S.A.

  • General Electric

  • Honeywell International Inc.

  • Ingersoll-Rand plc

  • International Business Machines Corporation (IBM Corporation)

  • Johnson Controls

  • Rockwell Automation Inc.

  • Schneider Electric

  • Siemens AG

  • Wattics Ltd

For more information about this report visit https://www.researchandmarkets.com/r/4jap7b.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201125005849/en/

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