Energy Management Software

The Energy Management Software Emerging Market Analysis report delivers current market analysis plus a five-year market forecast and market and technology trends.

Energy Management Software: Industrial IoT, Data Analytics, Software-as-a-Service Model Drive Growth

This ARC Advisory Group energy management software (EMS) emerging market analysis report provides a concise analysis of the market for energy management software and services. This includes information on market size, growth, and key trends pushing and pulling this market space. Energy management software vendors are identified, and some strategy points are discussed.

The new energy management software market is centered on Industrial Internet of Things (IIoT), connected devices, asset performance, energy data quality, sustainability, and energy analytics solutions. Now, the focus is more on software than hardware, as innovation is increasingly centered on software for data collection and advanced technologies including Industrial IoT with machine learning, predictive maintenance, data analytics, and customized Intuitive dashboard features. The research indicates that the software deployment model has been moving to SaaS model very rapidly.

Energy Management Software Market Strategic Issues

In addition to providing a five-year market forecast, the energy management software market research provides detailed quantitative current market data and addresses key strategic issues as follow.

Strategic Issues for Software Vendors: Integrate Energy Management into MES and EAM

The need to reduce consumption of electricity, gas, oil, and water, reduce emissions, and other sustainability initiatives drives the energy management software market. Environmental reporting and documentation will also continue to increase energy management software usage. Even as energy costs remain stable, energy management and sustainability solutions are being integrated and built into manufacturing execution (MES) and enterprise asset management (EAM) systems to manage energy, assets and to account for energy costs, as well as product costs. Some user companies treat energy as a raw material and utilize MES or EAM to help manage costs and reduce consumption of water, energy, and gas and emissions. Industrial companies want MES or EAM solutions to be featured with energy management tools before acquiring these systems to meet sustainability and regulatory goals and reduce costs.

Strategic Issues for Users: Look for Simplified User Experience

Intuitive simplified and flexible software is more important than ever. User experience and ease-of-use are more important than ever. The software must be easy to deploy, integrate, use and be intuitive and collaborative. The technology must be able to be flexible, and interoperable to get connected to other existing IT systems easily. The software should be scalable and adapt quickly to new innovative technologies and applications as they emerge. Also, specialized easy to design dashboards and adaptable mobile for better visualization can provide good insights on energy data.

Data Quality and Usage of Real Data among Appropriate Teams

Adoption and deployment of new technologies and services for energy and sustainability management is accelerating. Most of the user companies now have access to numerous smart devices in their facilities. In the recent past years, the adoption of smart devices has been increasing in the industry resulting more amount of data is generated by these devices. In most of the cases, energy consumption data is collected from different sources including utility bills, energy management systems (EMS), spreadsheets, and now with the recent emergence of IoT or connected devices, user companies are able to capture and monitor energy data from IoT devices in real-time. In many cases, these data streams are new to users and only good quality of data provides better opportunities for analyzing and optimizing the energy costs. Hence, as the amount of available data continues to increase the need for improving quality of the data and sharing and using real data among appropriate teams across the enterprise to foster collaboration emerges as a big challenge in the recent years.

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