New Technologies Boost the Demand for Energy Management Systems

Energy

Energy management system helps in improving the productivity and increase production, while reducing energy consumption and increasing efficiency. With increase in use of water, energy resources and raw materials by various industries, there has been a significant rise in levels of emissions, effluents and solid wastes.

According to the report by Future Market Insights (FMI), the energy management system market globally is estimated to exceed $21,600 million by the end of 2025, registering 14.8% CAGR between 2017 and 2025.

With environmental sustainability becoming a global concern, organizations are increasing their investments in environmental sustainability management solutions to strengthen their reputation and brand value. Moreover, in order to establish a good brand image and to sustain in the competitive scenario, organizations demanding energy management certification is also increasing.

Rolls-Royce launches next-generation energy management system

Rolls-Royce has introduced a next-generation energy management system, allowing ship owners to reduce operating costs, energy usage and fuel consumption. The energy management system provides performance information, helping vessel to comply with IMO regulations and SEEMP rules.

The system collects data from sensors on the vessel and processes that data. The source of data includes deck machinery, propulsion system, engines, etc. The data collected is securely encrypted before transmitting it to the cloud-based portal hosted by Rolls-Royce. The information stored in the portal helps the operator to compare historical data and real-time data, this helps in conserving fuel and energy.

Moreover, the energy management system is available in three packages. Package one includes emissions and fuel monitoring, Package two monitors emissions, fuel and performance of ship and Package three does comprehensive performance monitoring.

Similarly, QOS Energy, an O&M analytics software provider has delivered an energy management solution to Sun’R Smart Energy’s R&D project based on examination of grid integration of renewables using pumped hydro storage. The energy management system provides aggregation of real-time data generated from the plants, market prices and energy storage units’ into one single hub. The aim is to provide flexible management system and increase the value of energy management system in electricity market.

Government in various countries have introduced rules and regulations to reduce energy consumption, especially by the industrial sector. Along with this, the cost of electricity has also been increased in various countries by government. Hence to control and monitor energy consumption, the demand for energy management system is increasing.

With the emergence of smart lighting and Internet of Things (IoT), the companies providing energy management system are also focusing on these technologies. Installing simple controls and integrating with IoT, the system can produce real-time data to monitor energy consumption and management. It can also reduce maintenance and operation costs.

About Suyog Keluskar 7 Articles
Suyog Keluskar is an experienced Market Research, Customer Insights & Consulting professional, covering latest industry and market updates on Electronics, Semiconductor and ICT domain. With over ten years of experience in business/market research, Suyog delivers customer-centric assignments in market-entry, market expansion, partner identification, competition analysis, market sizing, industry insights and customer intelligence studies. When Suyog is not busy unraveling the consumer mind or unearthing market potential he can be found traveling the road less traveled with a fascinating book on contemporary history in his hand. An avid cricket fan, music lover and you will also find him discussing politics with his friends and peers more often.