Energy Management in North America Reaches $11.39B by 2020
Recent analysis from Frost & Sullivan – Analysis of the North American Energy Management Systems Market – finds that the market earned revenues of $8.45 billion in 2014 and estimates this to reach $11.39 billion in 2020. The study finds the building energy management systems (BEMS) market is a higher revenue generator than the home EMS market and will continue to be so throughout the forecast period.
At the moment, the lack of consumer knowledge on EMS and stiff competition due to market maturity are challenges for vendors and distributors in North America. High initial investment and confusion among facility owners due to the availability of multiple solutions are roadblocks for EMS manufacturers.
The emergence of cloud infrastructure and its associated services, such as software as a service, are expected to deliver a technology leap for the North American EMS market. Hence, EMS manufacturers can offer a fresh approach to energy monitoring and tracking by collaborating with or acquiring new entrants that provide cloud-based solutions to utilize their expertise and knowledge.
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