The building and energy management systems’ market is set to record a very strong level of growth until 2024, being largely driven forward by the increased need to monitor and reduce energy consumption, a recent market research report has been able to forecast.
The research from Market Insights Reports suggests that the global energy management systems market was valued at USD 25.88 billion in 2018 and is expected to register a CAGR of 13.78% over the forecast period, 2019 to 2024.
An energy management system is a combination of various computer-aided tools used by the operators of electric utility grids, in order to monitor, control, and optimize the performance of an energy generation, transmission, and distribution system. Energy management system (EMS) is not only limited to energy-saving efforts that are adopted to save the available energy, but is also a wider concept to deal with the process of controlling, monitoring, and conserving energy in the public or government sector, businesses, organizations, and even in residential buildings.
The paper also points out that the demand for electricity in the non-residential sector has been rising over the last few years, owing to new entrants in the manufacturing industry and increasing production activity from various industries, including chemical, electronics, and automotive, which is expected to fuel the market.
Increasing power generation through the renewable source of energy is expected to witness exponential growth, owing to increasing awareness regarding the environmental impact of fossil fuels, thereby, further propelling the growth of the market.
Furthermore, the rising trend of real-time monitoring of energy consumption and the integration with cloud-based systems, coupled with high automation level in smart factories across the region, have permitted real-time monitoring of energy consuming equipment, including HVAC, which is anticipated to aid the market growth over the forecast period.
HeatingSave – the connected building management system (BMS) capable of delivering significant energy savings in the public sector
Replacing an older control system with a HeatingSave energy and boiler management controller is the quickest way of beating those tariff rises and saving on energy costs, often paying for itself in less than a year but almost always in less than 3 years.
HeatingSave can cut your energy usage by 20% to 30% with its energy management control, as its internal microprocessor constantly calculates and improves the efficiency and savings of your central heating system.
Using HeatingSave, simply choose the room temperature and the hot water you want, and when, and HeatingSave does the rest. It works with all central heating systems – oil, gas or coal – and links up with a PC to produce reports and graphs to fashion a powerful and complete energy management system.
The system is backed by the Carbon Trust and the Energy Savings Trust.