According to a recent study from market research firm Graphical Research, the global energy management system market size is set to register a significant growth during the forecast timeframe. Governments across the globe are formulating strict energy efficiency rules with the aim of reducing carbon emissions from a host of sectors. They plan to reduce their dependence on fossil fuels by finding alternative sources of energy to produce electricity. These factors will boost the installation of EMS units across advanced and emerging economies. The following is the region-wise view of trends that will develop the industry forecast:
Sensor-based EMS tools gain momentum:
The Europe energy management system market share from sensor-based EMS will develop at a good pace as there is a rising need to have a system that detects power supply issues. Sensor-based EMS units help end-users take sound decisions to enhance the overall electric supply.
Digital devices that consist of machine learning and IoT technologies facilitate the collection of large volumes of data regarding electricity supply and consumption. These aspects will prompt customers to opt for smart homes containing sensor-based EMS in the electric grid infrastructure.
Installation of EMS software to control energy use:
Based on service, EMS software will drive the regional market forecast up to 2026. This system is witnessing high installation to control and monitor the energy supply across applications. It can play a vital role in reducing the overall cost of operation and improving sector-wise productivity. Energy procurement incurs heavy costs for companies, which can be decreased through this EMS as the producers can assess and control the energy consumption.
Italy EMS market grows significantly:
Italy market outlook is projected to show signs of progress as the authorities are increasing their focus on using renewable energy sources to produce electricity. They are boosting their investments in building a strong commercial infrastructure that will consume high voltage of electricity. This infrastructure will require energy-efficient systems that will not only conserve energy but will also monitor its output.
Building Energy Management System (BEMS) gains traction:
Energy efficient systems, such as Building Energy Management System (BEMS) are being largely installed across commercial areas such as malls, educational institutes, and office spaces in Asia Pacific. Investment in the energy efficiency of buildings will boost real-time management of energy using IT technology, facilitating, and promoting energy demand management using IT technology.
Since BEMS uses a variety of innovative computing tools, it can effectively monitor the power supply and voltage of electric grid systems. These tools maximize the performance of the energy grid infrastructure and decrease operational costs to a great extent. With many electric system refurbishment projects in the pipeline, the use of BEMS is likely to pick up the pace in the region.
Use of hardware-based EMS to meet building automation needs:
The hardware components will grow at a notable rate as the need to have automation systems across buildings is rising. Hardware-based EMS offers important features, such as high efficiency in operations, longer utility lifespan, and occupant comfort, which reduce operational costs.
The end-users, with the help of these units, can assess the live information and send it to the dashboard. This information helps in identifying problems related to the energy supply and the overall flow and rate of fluctuation across electric grids.
Application of EMS across power and energy sector:
The regional EMS market size from power and energy applications will expand at a robust pace as the EMS units are being deployed heavily to cater to the rising need to monitor electric units. EMS devices can indicate the health of the electric grid network and let the end-users know the level of maintenance required. Transformers and pumps are extensively adopting EMS units to optimize their energy consumption and improve their performance in high-pressure situations.
Nuclear families augment demand for HEMS:
Home Energy Management System (HEMS) will be highly adopted across the region as the percentage of nuclear families is increasing. A rising number of nuclear families has fueled the demand for an uninterrupted electricity supply.
Urbanization is playing a vital role in implementing these units as the authorities are investing heavily in the production of wireless technologies to create an advanced public infrastructure. Remote areas will benefit from HEMS as the network will help analyze energy consumption, leading to reduced environmental impact.
EMS application grows across the IT sector:
The North America energy management system (EMS) market size from IT application will grow considerably due to the rise of industrial revolution 4.0. This form of industrial transformation offers many advanced machines and processes that use innovative Information and Communication Technologies (ICT). These technologies will enable the collection of raw data from processes that will help manufacturers understand and improve their production efficiency.