North America energy management system revenue, by product, 2012-2022 (USD Million)
- Sensor EMS market components dominated the industry and generated revenue worth USD 7.24 billion in 2014. Software is expected to emerge as the fastest growing components at an estimated CAGR of 16.3% from 2015 to 2022.
- Power & energy sector contributed majority of the revenue generated in 2014 and is expected to maintain its dominance over the forecast period to reach a net worth of USD 22.57 million by 2022, at an estimated CAGR of over 13.5% from 2015 to 2022. EMS implementation in healthcare is anticipated to grow at an estimated CAGR of 15.5% over the next seven years.
- Commercial sector accounts for over 80% of the total installation and is expected to lose share to residential sector over next seven years. Implementation of various new government legislations to promote energy management and control and green building construction initiatives in the UK, Germany and U.S. are anticipated to create lucrative opportunities for industry participants to invest in the residential sector.
- North America was the leading regional market and accounted for over 40% of total market revenue in 2014. Favorable government initiatives such as Energy Star under the U.S. EPA offer wide range of resources and tools to aid organizations align the energy performance of their business operations and facilities, thereby promoting EMS implementation.
- Asia Pacific is expected to project highest growth potential with regional revenue expected to exceed USD 13.00 billion by 2022. Rapid industrialization and improving energy infrastructure in China, India and Indonesia is expected to drive the regional market over the next seven years.
- Key vendors and licensors operating in global energy management system industry include Siemens AG, Honeywell, Elster Energy, Schneider Electric, Gridpoint, IBM, Johnson Controls Inc., C3 Energy and Powerhouse Dynamics.