Energy Management System Market Size, Share, Growth Analysis, By System(On-Premises, Cloud), By Component(Residential, Energy & Power, Telecom & IT, Manufacturing), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45F2071 | Region: Global | Published Date: February, 2024
Pages: 265 |Tables: 66 |Figures: 75

Energy Management System Market Insights

Energy Management System Market size was valued at USD 58.4 billion in 2019 and is poised to grow from USD 67.1 billion in 2023 to USD 161.9 billion by 2031, growing at a CAGR of 16.2% in the forecast period (2024-2031).

With real-time data communication, utilities can benefit from real-time pricing, outage detection, power theft identification, avoiding meter data tampering, and better service. In smart buildings, a number of sensor- and actuator-based appliances are commissioned to remotely manage the connection of electrical loads based on consumer preference or utility decisions regarding the need for a smart meter.

The global market for energy management systems may be pushed forward by an increase in the number of smart meters and grids installed. Regional governments all over the world have endorsed the laws and regulations that are intended to raise awareness about energy conservation.

The market for energy management systems is driven by these regulations and policies. The demand for energy management systems (EMS) has increased as a result of an increase in the management of energy use by public sector, industrial, and commercial organizations. In order to reduce greenhouse gas emissions, reduce potential exposure to fluctuating energy prices, and boost productivity, advanced energy-efficient technologies will gain ground.

The World Resources Institute cited data in February 2020 indicating that human-caused greenhouse gas emissions came primarily from energy consumption. Industry players may look for Internet of Things (IoT) solutions to control energy flow and optimize energy consumption in the midst of the current trend.

US Energy Management System Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 58.4 billion

Largest Segment

hardware

Fastest Growth

software

Growth Rate

16.2% CAGR

Global Energy Management System Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)

To get more reports on the above market click here to Buy The Report

Energy Management System Market Segmental Analysis

The Energy management system market is segmented on the basis of System, component , deployment, vertical, and region. Whereas, By System is sub segmented into the Industrial Energy Management Systems (IEMS), Building Energy Management Systems (BEMS), Home Energy Management Systems (HEMS). By Component Type is sub segmented into the Hardware, Software, Services. By Deployment is sub segmented into the On-Premises, Cloud. By Vertical, it is sub segmented into the Residential, Energy & Power, Telecom & IT, Manufacturing, Retail, Healthcare, Others. By Region is segmented on the basis of North America, Europe, Asia pacific, Latin America, and MEA.

Energy Management System Market Analysis by System

Based on the system analysis, The industrial energy management system (IEMS) segment accounted for the largest market share of over 74% in 2021. With the growing use of IoT devices and increased connectivity, the market for building energy management systems (BEMS) will expand. In order to make use of real-time data for effective and environmentally friendly building management, smart buildings are likely to investigate IoT and digital building solutions. The building's management, optimization, and upkeep have improved as a result of a paradigm shift toward Industry 4.0 and digital transformation. In addition, market expansion has been helped along by the electrification of building space heating and cooling.

Metering devices, which connect to the automation system and intelligently acquire, evaluate, and store information to improve efficiency, have recently gained popularity. BEMs are expected to be relied upon by stakeholders for optimal energy consumption, including electrical installers, building owners, and energy managers.

In light of rising energy consumption, the Home Energy Management Systems (HEMS) market is anticipated to exhibit a significant CAGR. According to the EIA's 2015 Annual Energy Outlook, domestic consumption could rise by 0.3 percent annually until 2040.Home energy management systems are likely to be supported by energy optimization solutions like a smart home's electrical board and software that helps detect energy consumption.

Energy Management System Market Analysis by Component

Based on the Component, The hardware segment accounted for the largest market share of over 64% in 2021. Due to the expanding use of communication and sensing technology, the hardware sector may hold a significant portion of the global market. In addition, bridges and sensors have gained popularity, with wired sensor networks gaining popularity due to their superior reliability, extended service lifetimes, and reduced susceptibility to disruptions and interference. During the forecast period, hardware components may boost the energy management systems market forecast as building operations monitoring and control embed intelligence.

The software could help reduce energy consumption by providing data on consumption patterns. In order to cut down on energy costs and improve workflow, software components that provide actionable insights from energy data have become increasingly popular. Due to its ability to provide comprehensive energy data, such as weather effects on data centers, HVAC, and manufacturing lines, the software has become highly sought after. The EMS software has also been given a push to provide accurate consumption and spending data. In addition, end users have shown a strong preference for the component's ability to streamline energy allocation through real-time data-based load changes. The software may gain traction as a means of enhancing energy-related issues' collaboration and communication as a result of a slew of businesses assessing the significance of energy efficiency.

Global Energy Management System Market By component 2021 (%)

To get detailed analysis on other segments, Request For Free Sample Report

Energy Management System Market Regional Insights

North America accounted for the largest market share of over 35% in 2021. The U.S. also, Canada are scheduled to furnish income creating open doors with the flooding entrance of savvy matrices and infrastructural spending. In 2021, the IEA predicted that investments in electricity grids would rise by 10%, with the United States being one of the primary investors in infrastructure. Additionally, the region's significant uptake of smart energy demand has prompted stakeholders to contribute funds to EMS. IoT-based solutions are expected to be in high demand in the building, commercial, and residential sectors, among other prominent industries. An increase in the amount of energy used to heat and cool space is primarily to blame for the trajectory of the growth.

For instance, the Annual Energy Outlook 2022 was cited by the U.S. Energy Information Administration in June 2022, indicating that nearly half of the energy consumed by U.S. buildings in 2021 was used for heating and cooling. Clean energy technologies and connectivity are expected to be emphasized by electricity providers as well as commercial and industrial businesses in order to reduce carbon emissions and access the global market.

As EMS continues to gain ground throughout the region, participants in the industry are expected to unlock opportunities in the United Kingdom, France, Italy, and Germany. The adoption of buoyant energy policies is primarily to blame for the expansion.

All 27 EU member states made a commitment to the European Commission in July 2021 to cut emissions by at least 55% by 2030. In addition, the government of the United Kingdom asserts that all buildings will have low-carbon heating and energy efficiency by 2050, and that approximately 700,000 homes will be upgraded by 2025. In order to reduce energy costs and emissions, governments are likely to concentrate on reducing energy consumption, Europe's market share for energy management systems may grow as a result of this trend.

Global Energy Management System Market By Geography, 2021-2028
  • Largest
  • Fastest

To know more about the market opportunities by region and country, click here to
Buy The Complete Report

Energy Management System Market Dynamics

Energy Management System Market Drivers

Government Initiatives to Bolster Market Growth during Forecast Period

  • Regional governments all over the world have enacted a number of regulations with the intention of lowering energy consumption and raising awareness of energy conservation. In application areas like the industrial, commercial, and residential sectors, these regulations and policies drive the EMS market. Decarbonization is a process that is being worked on by governments in a number of countries. Numerous nations have either established or have already implemented standards and norms regarding energy consumption and carbon footprint reduction. A standardized, international approach to best practices that can be utilized in all nations and industries has been developed through the creation of ISO 50001. It provides a framework for enhancing enterprises', industries', and the economy's capacity for energy management. At the national level, additional policies are also in place to cut down on energy use and, as a result, electricity consumption-related carbon emissions. Environmental sustainability is now a distinguishing factor for a number of businesses. This gives them a leg up on the competition and helps them build a good reputation for their brand. In their efforts to conserve energy, organizations will benefit from EMS solutions. Therefore, the energy management systems would be driven by such government policies and a shift toward combating climate change.

Energy Management System Market Restraints

High Cost to Hinder Market Growth

  • In order to implement a high-tech, fully automated EMS system in factories or buildings, significant initial investments are required. Every industry wants to reduce consumption costs. As a result, they need energy management systems to keep track of how much energy various plants and machines use. Albeit the sending of energy-proficient arrangements and measures prompts significant expense and energy reserve funds in the long haul, it requires sizable starting speculations. There might come a time when businesses, manufacturing facilities, and industries do not have the money to invest in EMS. Small and medium-sized businesses simply cannot afford such an investment. The software and service components of energy management systems typically cost less than the hardware components.

Request Free Customization of this report to help us to meet your business objectives.

Energy Management System Market Competitive Landscape

Startups and established players see EMS as a source of revenue and may place an emphasis on both organic and inorganic strategies, such as collaboration and mergers and acquisitions. In addition, if demand and supply, interest rates, inflation, and GDP fluctuate, microeconomic and macroeconomic factors could alter the global landscape. Opportunities in cloud solutions and smart energy management are likely to be capitalized on by major players. Of late, industry players could investigate potential open doors in lattice programming as energy organizations stress savvy meters to support productivity, readiness, and adaptability.

Energy Management System Market Top Players Company Profiles

  • Schneider Electric SE

  • Siemens AG

  • ABB Ltd.

  • Johnson Controls International plc

  • General Electric Company

  • IBM Corporation

  • Cisco Systems, Inc.

  • Eaton Corporation plc

  • Emerson Electric Co.

  • Mitsubishi Electric Corporation

  • Schneider Electric Industries SAS

  • Rockwell Automation, Inc.

  • Yokogawa Electric Corporation

  • Fuji Electric Co., Ltd.

  • C3 Energy

  • Enernoc, Inc.

  • Ecova, Inc.

  • EnerNOC, Inc.

Energy Management System Market Recent Developments

  • In April 2022, Samsung Electronics announced a partnership with ABB to integrate Samsung SmartThings into more homes and buildings.
  • In October 2021, SPIE, the independent European leader in multi-technical services in the areas of energy and communications, and Siemens Energy signed a partnership to support the energy company along its path toward a climate-neutral future with efficient, sustainable, and digital solutions.

Energy Management System Key Market Trends

  • Environmental, economic, and social sustainability issues abound as a result of the anticipated global urbanization. As a result, the key mode of production for smart cities is a data-driven urban scenario, and urban processes and practices are becoming highly responsive to it. In light of the growing trend toward urbanization, this form is increasingly being used to address sustainability issues. Critical energy investment funds should be possible by introducing energy. The executives frameworks to assist with observing energy utilization. Additionally, it would assist in predicting the kind of energy-saving strategy that could be utilized in that circumstance.

Energy Management System Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.

According to our global energy management system market analysis, The demand for energy management systems has increased due to an increase in the management of energy use across commercial, industrial, and public sector enterprises (EMS). In order to reduce greenhouse gas emissions, reduce potential susceptibility to changing energy prices, and increase productivity, sophisticated energy-efficient technologies should be implemented. According to figures cited by the World Resources Institute in February 2020, human-induced greenhouse gas emissions are primarily caused by energy use. Industry players may look for IoT-based solutions to optimize energy usage and manage the flow of energy in light of the current trend.

Report Metric Details
Market size value in 2023 USD 58.4 billion
Market size value in 2031 USD 161.9 billion
Growth Rate 16.2%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • System
    • On-Premises, Cloud
  • Component
    • Residential, Energy & Power, Telecom & IT, Manufacturing, Retail, Healthcare, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Schneider Electric SE

  • Siemens AG

  • ABB Ltd.

  • Johnson Controls International plc

  • General Electric Company

  • IBM Corporation

  • Cisco Systems, Inc.

  • Eaton Corporation plc

  • Emerson Electric Co.

  • Mitsubishi Electric Corporation

  • Schneider Electric Industries SAS

  • Rockwell Automation, Inc.

  • Yokogawa Electric Corporation

  • Fuji Electric Co., Ltd.

  • C3 Energy

  • Enernoc, Inc.

  • Ecova, Inc.

  • EnerNOC, Inc.

Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

Historical Year 2019

To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.

Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Energy Management System Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Energy Management System Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Energy Management System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Energy Management System Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Energy Management System Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Energy Management System Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Energy Management System Market size was valued at USD 58.4 billion in 2019 and is poised to grow from USD 67.1 billion in 2023 to USD 161.9 billion by 2031, growing at a CAGR of 16.2% in the forecast period (2024-2031).

Startups and established players see EMS as a source of revenue and may place an emphasis on both organic and inorganic strategies, such as collaboration and mergers and acquisitions. In addition, if demand and supply, interest rates, inflation, and GDP fluctuate, microeconomic and macroeconomic factors could alter the landscape. Opportunities in cloud solutions and smart energy management are likely to be capitalized on by major players. Of late, industry players could investigate potential open doors in lattice programming as energy organizations stress savvy meters to support productivity, readiness, and adaptability. 'Honeywell International Inc.', 'General Electric', ' Schneider Electric SE ', ' Siemens AG ', ' ABB Ltd. ', ' Johnson Controls International plc ', ' General Electric Company ', ' IBM Corporation ', ' Cisco Systems, Inc. ', ' Eaton Corporation plc ', ' Emerson Electric Co. ', ' Mitsubishi Electric Corporation ', ' Schneider Electric Industries SAS ', ' Rockwell Automation, Inc. ', ' Yokogawa Electric Corporation ', ' Fuji Electric Co., Ltd. ', ' C3 Energy ', ' Enernoc, Inc. ', ' Ecova, Inc. ', ' EnerNOC, Inc. '

Regional governments all over the world have enacted a number of regulations with the intention of lowering energy consumption and raising awareness of energy conservation. In application areas like the industrial, commercial, and residential sectors, these regulations and policies drive the EMS market. Decarbonization is a process that is being worked on by governments in a number of countries. Numerous nations have either established or have already implemented standards and norms regarding energy consumption and carbon footprint reduction. A standardized, international approach to best practices that can be utilized in all nations and industries has been developed through the creation of ISO 50001. It provides a framework for enhancing enterprises', industries', and the economy's capacity for energy management. At the national level, additional policies are also in place to cut down on energy use and, as a result, electricity consumption-related carbon emissions. Environmental sustainability is now a distinguishing factor for a number of businesses. This gives them a leg up on the competition and helps them build a good reputation for their brand. In their efforts to conserve energy, organizations will benefit from EMS solutions. Therefore, the energy management systems would be driven by such government policies and a shift toward combating climate change.

Environmental, economic, and social sustainability issues abound as a result of the anticipated urbanization. As a result, the key mode of production for smart cities is a data-driven urban scenario, and urban processes and practices are becoming highly responsive to it. In light of the growing trend toward urbanization, this form is increasingly being used to address sustainability issues. Critical energy investment funds should be possible by introducing energy. The executives frameworks to assist with observing energy utilization. Additionally, it would assist in predicting the kind of energy-saving strategy that could be utilized in that circumstance.

North America accounted for the largest market share of over 35% in 2021. The U.S. also, Canada are scheduled to furnish income creating open doors with the flooding entrance of savvy matrices and infrastructural spending. In 2021, the IEA predicted that investments in electricity grids would rise by 10%, with the United States being one of the primary investors in infrastructure. Additionally, the region's significant uptake of smart energy demand has prompted stakeholders to contribute funds to EMS. IoT-based solutions are expected to be in high demand in the building, commercial, and residential sectors, among other prominent industries. An increase in the amount of energy used to heat and cool space is primarily to blame for the trajectory of the growth.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Report ID: SQMIG45F2071

$5,300
BUY NOW GET FREE SAMPLE