Saudi Arabia energy management system market is
anticipated to grow at a good pace during the forecast period, 2024-2028. Software
that can regulate and keep an eye on power sources and power-consuming
appliances is known as an energy management system. For instance, a hotel's
HVAC system in each guest room can be managed by an energy management system.
Energy management systems provide insight into energy use and maximize comfort
and functionality, while reducing energy consumption and operating costs. Additionally,
an EMS typically has three parts, metre sensors that measure energy
consumption, control systems that transmit commands via an EMS interface, and
actual controlled devices such as air conditioners, fans, and lights. A home
thermostat is a nice illustration of an extremely basic EMS.
A commercial or residential location that uses an
energy management system enjoys a number of outstanding advantages, including
less energy usage and more effective operations. These technologies can also
provide information that would not be accessible without a system that
carefully tracks energy usage. The ability of the energy management systems is
to track and optimize energy use for lighting, heating and cooling, ventilation
in order to reduce electricity costs. Administrators are better able to
estimate energy demand and plan for it by gathering data. This information can
also be used to save extra work, such as making sure all lights are turned off
after office hours.
Company staff must constantly monitor energy
consumption and address anomalies and incidents that result in energy waste.
This benefits the company by enabling sizable, long-lasting energy savings.
Organizations that choose to execute ISO 50001 make a specific kind of energy
administration framework known as an energy management system (EnMS). The
purpose of ISO 50001 standard is to empower associations to set up frameworks
and forms fundamental to move forward vitality execution. The standard applies
to all variables influencing vitality utilize that can be observed and affected
by an association. ISO 50001 standard does not indicate energy execution
criteria. It gives a general-purpose framework that permits associations to
select execution benchmarks that they regard best meet their requirements.
Increasing Green Building Awareness
The energy management system is one of the most recent
systems that collects real-time data on energy usage. This is made possible by
monitoring, analyzing, and visualizing energy use. Energy management systems
improve business operations and financial judgement. Companies have begun green
construction in recent years and have put in place policies for managing waste,
water, and energy. Although Saudi Arabia is one of the top five countries in
the world for spearheading and has over 2,380 registered green building
projects, the demand for energy management systems in Saudi Arabia is rising
quickly.
Digital Transformation of EMS is Reshaping the Energy
Management Infrastructure
The digitalization of numerous industrial and
commercial activities, as well as energy management, has ostensibly contributed
to this transformation. Energy models are increasingly becoming digitalized,
which increases their efficiency and raises their worth. Greater efficiency
gains are largely dependent on the ability to connect and coordinate all of the
network's devices and equipment due to the modernization of energy management
processes. Moreover, a building's digital connectivity may enable communication
with smart power grids. As a result of the energy management system's digital
revolution, users can also combine operational data with energy data to offer
valuable perspectives on the energy used. Thus, the infrastructure of energy
management can be redesigned as a result of the digitalization of energy
processes. These factors have increased the demand for energy management
systems in Saudi Arabia. For instance, in December 2021, General Electric
acquired Opus One Solutions Energy Corporation. The planning and management of
energy are optimized with the aid of this software vendor. The purchase will
help General Electric plan, optimize, and engage in trading for the distributed
and renewable energy resources (DERs) necessary to power a modern system.
Non-Fossil Fuel-Based Energy Goal
Due to the escalating environmental problems such as
climate change and global warming, energy organizations are being pushed to
establish severe policies for energy efficiency. As an example, to demonstrate
their commitment for clean energy, numerous cities in Saudi Arabia have raised
the standards for their renewable energy portfolios. For instance, Saudi Arabia
has established a non-fossil fuel-based energy consumption goal for the 26th
Session of the COP (Conference of the Parties) in 2023This has been a key pledge
made under the Panchamrit. This is the largest renewable energy expansion
strategy in the world. The government makes an effort to increase effective
energy management and consumption. Such factors are anticipated to fuel the
growth of the market during the forecast period.
Projects and Advantages propelling the Growth of the
Saudi Arabia Energy Management System Market
The main driver of social and economic advancement is
energy. Energy is necessary for all economic sectors to operate, and as markets
become more competitive and technology advances, energy consumption rises.
Electricity is especially needed in the industrial sector. Additionally, there
is a growing understanding of the necessity of reducing and optimizing energy
use. In addition, businesses have tried to use energy more wisely in response
to market demands and public conceptions of environmental sustainability. It is
anticipated that one of the main market drivers will be the aim to minimize and
minimize energy use.
For the purpose of exploring the company's EMS
products and services in the Middle Eastern nations of Kuwait, Yemen, and Oman,
Rockwell Automation signed a partnership agreement with three distributors in
June 2021. These distributors are Zubair Electric, Naming Dome Trading and
Contracting, and Automatic Systems Company.
To demonstrate its "Buildings as a Grid"
approach to the energy transition, which aims to assist customers in increasing
resilience, accelerating decarbonization, generating new revenue streams, and
reducing energy costs, Eaton Corporation introduced its Energy management
solution (which combines hardware, software, and services) in March 2021.
As supply and demand change, so do energy prices.
Extreme weather, the state of the economy, and supply availability are just a
few of the variables that affect energy prices. The World Energy Outlook
predicts that during the next 25 years, global energy consumption will rise by
60%, with developing nations accounting for the majority of this rise. In
emerging markets, fossil fuels such as coal and thermal power plants currently
supply a sizable quantity of energy. This is the least expensive non-renewable
method of producing energy. Higher energy prices are anticipated because of
rising energy demand and the depletion of natural resources, which will
stimulate the use of other, more expensive forms of energy production.
Recent Development:
- In March 2021, Rockwell Automation and Precast
FZCO started to work together to advance software solutions in the Middle
East. With this partnership, businesses will investigate its extensive EMS
solutions in this area in an effort to gain market share.
- In September 2020, Schneider Electric SE unveiled
EcoStruxure, a cloud-based energy management system. This technology helps
building owners reduce equipment failures and downtime by providing
real-time warnings, monitoring data, and power quality analyses.
- In March 2021, Eaton Corporation introduced its
Energy management solution that combines hardware, software, and services
to demonstrate its Buildings as a Grid approach to the energy transition.
The solution aims to assist customers in increasing resilience,
accelerating decarbonization, generating new revenue streams, and reducing
energy costs.
- In February 2020, Honeywell announced its forge
energy optimization systems (a closed-loop, cloud-based machine learning
solution) to continuously monitor a building's energy usage adjustments to
the best energy-saving settings without compromising occupant comfort
levels.
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Market Segmentation
The Saudi Arabia energy management system market is
divided into type, component, deployment type, end user, and region. Based on
type, the market is bifurcated into building energy management systems,
industrial energy management systems, home energy management systems. Based on
component, the market is further bifurcated into hardware and software. Based
on deployment type, the market is bifurcated into cloud based and on premise.
Based on end user, the market is further bifurcated into manufacturing, power &
energy, IT & Telecom, and others.
Market Players
Major market players in the Saudi Arabia energy
management system market are Rockwell Automation Inc., Honeywell International
Inc., Schneider Electric SE, Cisco Systems, Inc., ABB Ltd., Eaton Corporation, IBM
Corporation, Siemens AG, Mitsubishi Electric Corporation, and Wrtsil Oyj Abp.
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Attribute
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Details
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Base Year
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2022
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Historic Data
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2018 –
2022
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Estimated Year
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2023
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Forecast Period
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2024
– 2028
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Quantitative Units
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Revenue in USD Million and CAGR for 2018-2022 and 2023-2028
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Report coverage
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Revenue
forecast, company share, growth factors, and trends
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Segments covered
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Type
Component
Deployment Type
End User
Region
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Region scope
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Northern
& Central, Western, Eastern, Southern
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Key companies profiled
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Rockwell
Automation Inc., Honeywell International Inc., Schneider Electric SE, Cisco
Systems, Inc., ABB Ltd., Eaton Corporation, IBM Corporation, Siemens AG,
Mitsubishi Electric Corporation, Wrtsil Oyj Abpdi Gas Cylinder Factory
(Enagas), Maritime Industrial Services (MIS), Rawabi Holding, and Dalma
Energy
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Customization scope
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10% free
report customization with purchase. Addition or alteration to country,
regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request)
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Report Scope:
In this report, the Saudi Arabia energy management
system market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
·
Saudi Arabia Energy Management System Market, By Type:
o
Building Energy Management Systems
o
Industrial Energy Management Systems
o
Home Energy Management Systems
·
Saudi Arabia Energy Management System Market, By
Component:
o
Hardware
o
Software
·
Saudi Arabia Energy Management System Market, By
Deployment Type:
o
Cloud Based
o
On Premise
·
Saudi Arabia Energy Management System Market, By End
User:
o
Manufacturing
o
Power & Energy
o
IT & Telecom
o
Others
·
Saudi Arabia Energy Management System Market, By
Region:
o
Northern & Central
o
Western
o
Eastern
o
Southern
Competitive Landscape
Company Profiles: Detailed analysis of the
major companies present in the Saudi Arabia energy management system market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company's specific needs. The following
customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional
market players (up to five).
Saudi Arabia energy management system market is an
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report or want to confirm the date of release, please contact us at
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