The Asia Pacific Energy management systems market is segmented into component, type, end user, vertical and country.In the component segment, software accounts for the highest revenue contributing about 36% of the market revenue in 2014. The software segment would dominate the market in the forecast period 2015-2020, owing to its high price and rapid technological changes. However, the controller segment would exhibit a higher CAGR of 23% in the forecast period 2015-2020.
The Asia Pacific energy management systems market is expected to garner $11.8 Billion by 2020, registering a CAGR of 19.5% during the period 2015-2020. Growing industrialization and advancements in technologies majorly supplement the growth of energy management systems market in the Asia Pacific region. Korea was the highest revenue generating country in 2014, followed by Japan and China. Energy management system for residential end users would exhibit a high growth rate during the forecast period owing to increase in the per capita disposable income, growing awareness, and stringent environmental regulation policies.
Among end users, the commercial sector would generate the highest revenue over the forecast period. The sector includes verticals such as retail & offices, manufacturing units, power & energy, telecom & IT, hospitals, educational institutions and others where only BEMS & IEMS is applied.
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The sectors such as manufacturing, power & energy, telecom & IT, retail & offices among others flourish in Asia Pacific region owing to the developing economies, growing industrialization and favorable government regulations & initiatives. Therefore, adoption of Energy management system becomes crucial in most sectors owing to the increasing energy requirements, rising energy prices and the need to control and reduce carbon emissions whilst magnifying their efficiency. Power & energy sector accounted for the largest share, contributing about 40% of the overall EMS Asia Pacific market in 2014. However, retail & office sector is expected to witness the highest CAGR 23.3% during the forecast period 2015-2020.
Profiling Key Players: Azbil Corp., Schneider Electric, Siemens AG, Honeywell International, Inc., Johnson controls, Inc., among others.
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