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North America Energy Management Systems Market - Growth, Trends, and Forecast (2022 - 2027)

Published: | Mordor Intelligence Pvt Ltd | 132 Pages | Delivery time: 2-3 business days

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North America Energy Management Systems Market - Growth, Trends, and Forecast (2022 - 2027)
Published: January 17, 2022
Mordor Intelligence Pvt Ltd
Content info: 132 Pages
Delivery time: 2-3 business days
  • Description
  • Table of Contents

The North America Energy Management System market is expected to register a CAGR of 15.1% over the forecast period (2021 - 2026).The outbreak of COVID-19 has had a mixed impact on the Energy management system market as the vendors operating in the market serving the end-user industries, which are deemed essential by various governments globally, in times of pandemic, the global residential power has seen a significant growth owing to home quarantines thus driving the demand for the deployment of energy management systems.

Key Highlights

  • Energy efficiency has been increasingly becoming the primary focus of private enterprises and government authorities worldwide. The increasing economic activities have led to high-energy consumption rates and have pushed the global electricity grids to their limits. This is expected to drive the energy management systems market in the forecast period.
  • Owing to the government regulations, cost savings, and optimizing their energy consumption, homes, industries, and enterprises have been increasingly adopting energy management solutions. The primary component of EMS measuring, communication, and software application helps reduce costs. According to a study by MIT, buildings waste at least 30% of their energy, which can be saved with the help of EMS.
  • Reduction in energy consumption has been a primary concern among commercial building owners and managers to save money. According to the US Energy Information Administration, almost 40% of the energy consumed in the country powers commercial and residential buildings. According to the New York State Energy Research and Development Authority (NYSERDA), enabling real-time energy management systems and smart technologies can reduce costs by an average of 15%. Such developments have been influencing the demand for EMS further, as part of the smart solutions in both the commercial and residential buildings.
  • Energy Management hardware manufacturers need to meet the regulatory standards imposed across regions concerning the end-device equipment's power management section. These power standards vary from region to region and are continually evolving.

Key Market Trends

BEMS is Driving the Growth of the Market

  • Building energy management systems include products and services that monitor, control, or analyze energy. Primary products include utility demand response programs, office automation services, personal energy management, data analysis and visualization, auditing, and related security services.
  • Analog and digital input signals indicate the temperature, humidity, etc., of the buildings. BEMS are crucial factors for controlling energy demands in large, complicated buildings, and multi-building sites
  • According to the US Department of Energy, the buildings sector accounted for about 76% of the electricity used, resulting in a considerable amount of associated greenhouse gas (GHG) emissions, thereby making it necessary to reduce energy consumption in buildings to comply with the national energy and environmental challenges and decrease costs to building owners and tenants.
  • According to NRCan, in Canada, over 81% of emissions come from energy. Canadians use more energy because of extreme temperatures, vast landscape, and dispersed population. The challenges of transitioning to a lower-carbon energy system are numerous. Still, they also present opportunities for Canada to be a global leader by supporting innovative technologies in the power and energy sector, including promoting growing renewables and cleantech sectors and consequently fuelling the market.
  • The share of fossil fuel use in the buildings sector energy demand decreased slightly to around 36%. Furthermore, following these efforts toward executing the SDS initiative, the building sector's CO2 emissions are expected to drop to 8.852 GtCO2 by the end of 2020

United States Expected to Witness Significant Market Share

  • The energy management systems market in the United States region remains to be a significant market as commercial, residential, and industrial consumers continue to drive adoption in order to realize energy savings. The US is currently ranked as the second-largest consumer of electricity after China.
  • Moreover, several key federal policy directives, rising energy costs, stringent regulations concerning greenhouse gas emissions, are major factors driving the demand for energy-efficient measures.
  • Therefore, the country is increasingly optimizing the use of renewable energy sources. The electricity generation from renewable energy sources in the country rose from 11,527 to 11,777 Trillion Btu in 2020, according to the Energy Information Administration.
  • Furthermore, Forbes reported that in the United States, data centers use more than 90 billion kilowatt-hours of electricity a year, requiring roughly 34 giant (500-megawatt) coal-powered plants. The country is also witnessing a rise in the new data center projects.
  • Owing to this, the country is witnessing several investments in maintaining energy efficiency across data centers. This has made the Federal Energy Management Program (FEMP) to encourage organizations to improve data center energy efficiency.

Competitive Landscape

The North American Energy Management System market is partially consolidated with the presence of numerous players manufacturing various products in the market. Some of the prominent players in the market include Johnson Control International PLC, Honeywell International Inc., Siemens AG, Schneider Electric SE among others.

  • September 2020 - Walmart Inc. and Schneider Electric, one of the prominent players in the digital transformation of energy management and automation, announced a new collaboration that will provide increased access to renewable energy for Walmart's US-based suppliers, enabling them to lead on climate action. The ground-breaking initiative, called the Gigaton PPA (GPPA) Program, is designed to educate Walmart suppliers about renewable energy purchases and accelerate renewable energy adoption, by participating suppliers, through aggregate power purchase agreements (PPA).
  • May 2021 - In support of sustainable development goals and climate action, Siemens Energy and the International Renewable Energy Agency (IRENA) have signed a partnership agreement to drive the global energy transition based on renewable energy. Under the agreement, the organizations will cooperate, facilitate, and strengthen collaboration to advance the global energy transition based on renewable energy.
  • July 2021 - Johnson Controls, one of the global leaders for smart, healthy, and sustainable buildings, announced OpenBlue Net Zero Buildings as a Service. Johnson Controls will serve as a one-stop shop for businesses seeking to attain net-zero carbon and renewable energy goals. The service understands clients' need to plan, execute, track, and achieve their objectives.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Product Code: 46350

TABLE OF CONTENTS

1 INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.2.1 Bargaining Power of Suppliers
    • 4.2.2 Bargaining Power of Consumers
    • 4.2.3 Threat of New Entrants
    • 4.2.4 Intensity of Competitive Rivalry
    • 4.2.5 Threat of Substitutes
  • 4.3 Industry Value Chain Analysis

5 MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 Increasing Trend of Electricity Prices and Commitment Towards Sustainability
    • 5.1.2 Energy Efficiency Regulations
  • 5.2 Market Restraints
    • 5.2.1 High Installation Costs Coupled with Maintenance Costs

6 MARKET SEGMENTATION

  • 6.1 By Type of EMS
    • 6.1.1 Building Energy Management Systems (BEMS)
      • 6.1.1.1 Hardware
      • 6.1.1.2 Software
      • 6.1.1.3 Services
    • 6.1.2 Home Energy Management Systems (HEMS)
      • 6.1.2.1 Hardware
      • 6.1.2.2 Software
  • 6.2 By BEMS End User
    • 6.2.1 Commercial
    • 6.2.2 Industrial
    • 6.2.3 Healthcare
    • 6.2.4 Education
  • 6.3 By Country
    • 6.3.1 United States
    • 6.3.2 Canada

7 COMPETITIVE LANDSCAPE

  • 7.1 Company Profiles
    • 7.1.1 Johnson Control International PLC
    • 7.1.2 Honeywell International Inc.
    • 7.1.3 Siemens AG
    • 7.1.4 Schneider Electric SE
    • 7.1.5 Oracle Corporation
    • 7.1.6 Greenwave Systems Inc.
    • 7.1.7 Uplight Inc.
    • 7.1.8 Panasonic Corporation
    • 7.1.9 Elster Group GmbH
    • 7.1.10 SAP SE

8 INVESTMENT ANALYSIS

9 FUTURE OUTLOOK OF THE MARKET