Global Energy Management System Market

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

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

Global 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.

$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 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. '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 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.

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.

Click here right-arrow
logo-images

Related Reports

Global Energy Management System Market

Report ID: UCMIG45F2043 | Region: Global | Published Date: February, 2024 | Pages: 165 | Tables: Figures:

Decentralized Identity Market
Buy Now GET FREE SAMPLE
Global Energy Management System Market

Report ID: SQSG45F2025 | Region: Global | Published Date: February, 2024 | Pages: 165 | Tables: 125 | Figures: 77

Global Quality Management Software Market
Buy Now GET FREE SAMPLE
Global Energy Management System Market

Report ID: SQMIG45F2058 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 95 | Figures: 76

Global Workforce Analytics Market
Buy Now GET FREE SAMPLE
Global Energy Management System Market

Report ID: UCMIG45F2080 | Region: Global | Published Date: February, 2024 | Pages: 165 | Tables: Figures:

Database Monitoring Software Market
Buy Now GET FREE SAMPLE

Feedback From Our Clients

Global Energy Management System Market

Product ID: SQMIG45F2071

$5,300
BUY NOW GET FREE SAMPLE