Global building energy management systems market to be worth $38.49 billion by 2018
The energy management systems market is expected to grow from $17.4 billion in 2013 to $38.49 billion in 2018, at an estimated Compound Annual Growth Rate (CAGR) of 17.2% from 2013 to 2018, a recent research report by MarketsandMarkets has been able to reveal.
The paper, titled “Energy Management Systems (EMS) Market (Utility EMS, Industrial EMS, Enterprise EMS, Demand Response, Energy Management Devices, HEMS, BEMS) – Worldwide Market Forecasts and Analysis (2013 – 2018) “, analyzed and studied the major market drivers, restraints, and opportunities in North America, Europe, Middle East and Africa, Asia-Pacific, and Latin America.
The study revealed that the Energy Management Systems (EMS) vendor landscape is highly fragmented with multiple offerings ranging from simple energy monitoring dashboards to complex energy management softwares with high degree of analytics.
It also suggested that the implementation of energy management practices in the future will depend largely upon stringent government policies regarding energy efficiency and conservation as well as market education of end-users about the importance of saving energy and improving bottom-line profits.
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