International. According to the Allied Market Research study, the global energy management systems (EMS) market is expected to reach US$44.4 billion in 2020, registering a CAGR of 13.75% during the period 2014-2020.
The Building Energy Management System (BEMS) is expected to be the fastest growing sector and could boost the market significantly in 2020. In some economies, such as Europe, the government provides support and subsidies to encourage the adoption of home energy management systems (HEMS), therefore their demand is expected to grow, thus contributing to the overall size of the market.
The adoption of BEMS is expected to continue to increase rapidly due to their varied application in vertical markets, i.e. healthcare, telecommunications, information technology (IT), educational institutions, universities and commercial buildings such as shopping malls, offices, etc. At present, the Industrial Energy Management System (IEMS) is the largest revenue-generating segment of the EMS market and would remain the same in 2020, given its value as a product, installation, and maintenance cost, the report says.
