North America Energy Management Systems Market
Energy is one of the most important aspects of our lives. At present, most of the need is being met by either conventional energy sources like coal, natural gas and petroleum or by non-conventional energy sources like wind, tidal, solar, etc. With the increasing urbanization and population, along with the escalating needs of people, the demand for electricity has been skyrocketing. It has become necessary to have efficient energy management systems in place for the effective utilization of energy as well as to reduce costs, improve profitability and adhere to environmental regulations. Energy management systems are used in power generation, transmission and distribution.
The North American market for energy management systems is estimated to grow at a CAGR of 21.56% to reach USD 17.08 billion by 2021, from the current estimate of USD 6.44 billion.
These solutions are of different types: Home Energy Management System (HEMS), Building Energy Management System (BEMS) and Factory Energy Management Systems (FEMS). The demand for these systems is growing because of incentives being provided by various governments, as well as the benefits associated with the deployment of such solutions.
Some of the key vendors in the energy management systems market are IBM, Rockwell Automation, Schneider Electric, Honeywell and General Electric.
DRIVERS
Factors driving this market are:
- Increasing usage of smart grid services.
- Growing competition among industrial enterprises is also driving the energy management systems market.
- Government policies and incentives associated with it are contributing to the growth of this market.
RESTRAINTS
Factors restraining this market are:
- Lack of skilled personnel
- Lack of focus on part of different stakeholders
WHAT THE REPORT OFFERS
The report covers the entire market in these major parts:
- Section 1 and 2 are introductory, while Section 3 discusses the drivers and restraints of the market, gauges industry attractiveness and opportunities that exist in the industry value-chain as well as industry policies that are guiding the market.
- Section 4 explains the energy management systems technology and how it is beneficial to the enterprises, how it works and the most important thing; what the full extents of its industrial applications are.
- Section 5 gives a detailed market breakdown on the basis of the type of technology used for energy management systems. It provides current market size, forecasts and the market share of each technology.
- Section 6 covers the different solutions being provided by vendors of energy management systems, the extent of its market and what future it holds.
- Section 7 gives a detailed analysis of the market by the type of solutions that enterprises are providing hardware, software and services.
- Section 8 focuses on the market in the end-user industries like manufacturing, construction, energy and others.
- Section 9 gives a detailed market analysis on North American countries.
- Section 10 deals with the market share of major vendors, their complete list of products and services, the strategy followed by each of these vendors and key differentiating factors which help them to be market leaders.
- Section 11 talks about those companies which are catering to industry needs in their own innovative ways.
- Section 12 and 13 gives a glimpse into the recent mergers and acquisitions that have happened as well as how the investors find the industry from an investment point of view. Section 13 is about the future of enterprise management systems market and the promise it holds for vendors and consumers alike.
