Energy Management Software Market Size & Growth:
As per the research analysts at Research Cosmos, the size of the Global Energy Management Software Market is expected to grow USD XX Million by 2025 with a CAGR of 13.75% during the forecast period 2019 to 2025.
The adoption of solutions in the field of building automation, driven by government support, is a key factor in the market for energy management software (EMS). Most commercial consumers are aware of the increase in energy costs and are adopting EMS solutions to reduce these costs. This solution allows optimizing the performance of the building completely controlling the energy consumption and the cost of the building. In developed markets such as North America, governments are conducting specific energy-related programs to help end users recognize the benefits of EMS. Local governments, such as APAC and MEA, are also working to demonstrate the benefits through social networks and are considering approving laws and regulations to encourage adoption. Over the past two years, construction certifications have increased significantly according to "green" standards that focus on energy efficiency.
However, not only the initial investment cost is high, but the longer the recovery period is, the more likely to hinder the growth of the market for energy management systems of SMEs and local manufacturers. The great demand for EMS solutions in emerging markets such as India and China is expected to offer growth opportunities to market participants. In recent years, the market for energy management systems has experienced an increase in demand for efficient energy sources as an alternative to traditional energy sources, which has led to a steady increase in the research and development efforts between market participants and a high percentage of adoption among end users.
Countries like India and China are experiencing an increase in the urban population due to the increase in industrialization, which increases the demand for electric power. As energy demand increases, there is an ample growth opportunity for players in the energy management system market to offer solutions that can control and minimize energy waste.
This report studies the global Energy Management Software market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the global Energy Management Software market by companies, region, type and end-use industry.
The study objectives of this report are:
- To study and forecast the market size of Energy Management Software in global market.
- To analyze the global key players, SWOT analysis, value and global market share for top players.
- To define, describe and forecast the market by type, end use and region.
- To analyze and compare the market status and forecast between China and major regions, namely, United States, Europe, China, Japan, Southeast Asia, India and Rest of World.
- To analyze the global key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
This research report includes the following segmentation for the Energy Management Software Market size and forecast 2025
Energy Management Software Market – By Type:
- Ordinary Type
- Custom Type
Energy Management Software Market – By Application:
- Building Energy
- Waste Management
Energy Management Software Market - By End User:
- Power and Energy
- IT and Telecommunication
- Other End Users
Energy Management Software Market - By Component:
Energy Management Software Market – By Region:
- North America - US, Canada, Mexico and Rest of North America
- Europe - UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe
- APAC - India, China, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore and Rest of APAC
- Latin America - Brazil, Argentina, Chile and Rest of Latin America
- Middle East and Africa - KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA
Regionally, North America dominates global demand and has represented more than 42% of total sales in 2018. The widespread adoption of EMS in various sectors, including retail, energy and manufacturing, may be due to the high penetration of the region. The European market generated sales of 6.78 million US dollars by 2018. It is expected that government initiatives with high requirements to reduce energy losses in Germany, the United Kingdom and France drive growth at region in the next years. It is expected that the Asia-Pacific region will grow in a CAGR of 16% between 2019 and 2024. In particular, with rapid industrialization and favorable government initiatives related to rebates and tax incentives, the rise in prices of 'energy, especially in India and China.
Some of the Promising Companies leading the Global Energy Management Software Market Profiled in the Report are:
- General Electric
- Honeywell International