Global energy management systems market size and share expected to reach USD 108 billion by 2030, at a CAGR of 13.4%: Polaris Market Research

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NEW YORK, November 16, 2022 /PRNewswire/ — Polaris Market Research Recently Released [115+ Pages] research report on “Energy Management Systems Market Share, Size, Trends, Industry Analysis Report, By System (Home Energy Management Systems, Industrial Energy Management Systems); By Component ; by deployment; by region; segment forecast, 2022-2030″ in its research database.

According to the research report, the global energy management systems market size and share was valued at $35.54 billion in 2021 and is should reach $108 billion by 2030increasing to one 13.4% CAGR during the forecast period.

What are energy management systems? What is the Energy Management System market size and share?

Energy management systems are software-based control systems designed to monitor, control, and optimize the performance of electric utilities and electricity-consuming devices. EMS provides energy usage insights that ultimately help reduce utility consumption and costs while improving functionality. They are now becoming popular because every industry working with energy requires the system to manage the energy sources and improve the decision-making procedure.

EMS is widely used in industries such as power and energy, IT and telecommunications, and other industries. Some of the major benefits of energy management systems include reduced energy consumption, lower operating costs, and ease of use. These factors are driving the growth of the market. Additionally, the growing use of smart grids and smart meters is fueling the demand for the energy management systems market.

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Our free sample report includes

  • Report overview, overview and in-depth analysis of the industry
  • Breakdown Data by Regions, Type, Players and Applications
  • Competitive landscape and market shares of major competitors
  • Research report of more than 110 pages
  • Offers chapter-by-chapter instructions upon request
  • Includes market presence in different geographies with share, size and trends
  • Updated list of tables and figures
  • The report covers major players with their business strategies
  • Evidence-based research factors and methodology

Some of the best players in the market are:

  • Schneider Electric SE
  • Honeywell International Inc.
  • Siemens AG
  • Johnson Controls, Inc.
  • C3.ai, Inc.
  • GridPoint, General Electric
  • ABB
  • International Commercial Machinery Society
  • Cisco Systems Inc.

For an additional list of players and detailed information, download a PDF report brochure

Growth factors

  • Increase in government initiatives to minimize energy consumption is boosting market growth

The increasing digitalization in the world, which has led to the transformation of different industrial and commercial operations and energy management, is the major factor driving the sales of the energy management systems market. Growing initiatives by governments in many countries to reduce energy consumption caused by increasing industrialization is expected to boost the growth of the industry. Rising energy price inflation and supplier rivalry are prompting the government to increase spending on renewable energy, fueling demand for the products.

Additionally, an increase in the requirement of energy usage management in commercial, industrial and public sector organizations has propelled the demand for EMS. Rising investments by private and public companies in smart projects such as smart buildings and smart farms are expected to positively influence the market size of energy management systems.

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RECENT DEVELOPMENTS

In December 2021, General Electric announced the acquisition of Opus One Solutions Energy Corporation, a software company that helps optimize energy operations and planning. Under this agreement, General Electric will be able to organize, improve and exchange distributed and renewable energy resources to enable a modern system.

Segmental analysis

  • Home energy management systems (HEMS) held the leading market share in 2021

In terms of system, in 2021, the Home Energy Management Systems (HEMS) segment was a major contributor to the energy management systems market share and is expected to generate a high CAGR during the period of forecast. According to the EIA’s 2015 Annual Energy Outlook, household demand is expected to increase by 0.3% per year through 2040. Important factors supporting HEMS growth may include energy optimization solutions that help detect the energy consumption. Also, the domestic sector is known as the major user of energy for space heating, air conditioning, water heating, lighting, and appliances. This shows that the need for home energy management systems will grow.

  • The hardware industry held the largest revenue share in the market

Based on the energy management system market segments, the hardware industry accounted for the largest market share owing to the increasing adoption of communication and sensing technologies. Hardware components are widely used because they are more reliable, have a longer lifespan, and are less affected by interference and disturbances.

  • Cloud-based energy management technologies generated the highest market share

Based on deployment, the cloud-based energy management technology category led the market due to the growing need to reduce carbon emissions and minimize costs. Incorporating these systems into cloud computing improves flexibility for businesses and allows data to be monitored and evaluated remotely.

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Energy Management Systems Market: Report Scope

Report attribute

Details

Revenue forecasts in 2030

$108 billion

Market size value in 2022

$39.52 billion

Expected CAGR Growth

13.4% from 2022 to 2030

base year

2021

forecast year

2022 – 2030

Main market players

Schneider Electric SE; Honeywell International Inc.; Siemens AG; Johnson Controls, Inc.; C3.ai, Inc.; GridPoint, General Electric; ABB; International Company of Commercial Machines; Cisco Systems, Inc.

Segments Covered

System, Component, Deployment, Region

Personalization options

Custom purchasing options are available to meet all research needs. Explore personalized buying options

Geographic overview

  • North America dominates the market

By geography, the energy management systems market in North America recorded the largest share of revenue. United States and Canada should create growth opportunities to produce money. Additionally, there is the growing use of smart grids and infrastructure investments in these countries, which is driving the growth of the regional market. According to the IEA report, in 2021, investments in energy networks would increase by 10%, with the United States being one of the main sources of investment in infrastructure. Moreover, due to the increased need for smart energy, a stakeholder is investing heavily in EMS, which ultimately drives the expansion of the industry in North America.

Browse the detailed report “Energy Management Systems Market Share, Size, Trends, Industry Analysis Report, By System (Home Energy Management Systems, Industrial Energy Management Systems); By Component ; by deployment; by region; segment forecast, 2022-2030″ with an in-depth table of contents: https://www.polarismarketresearch.com/industry-analysis/energy-management-systems-market

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Polaris Market Research has segmented the Power Management System Market report on the basis of System, Component, Deployment, and Region:

By Outlook system

  • Home Energy Management Systems (HEMS)
  • Industrial Energy Management Systems (IEMS)

By Outlook component

  • Material
  • Software
  • Services

Per Outlook deployment

Outlook by region

  • North America (WE, Canada)
  • Europe (France, GermanyUK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi ArabiaWATER, Israel, South Africa)

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About Polaris Market Research

Polaris Market Research is a global market research and consulting firm. The company specializes in providing exceptional business intelligence and in-depth business research services for PMR’s clientele spread across different businesses. At Polaris, we are obligated to serve PMR’s diverse customer base that spans the healthcare, technology, semiconductor, and chemical sectors among various other industries that span the globe. We strive to provide PMR clients with up-to-date information on innovative technologies, high-growth markets, emerging business environments and the latest business-centric applications, helping them to always make informed decisions and take advantage of new opportunities. Adept of a highly skilled, experienced and highly qualified team of experts comprised of SMEs, analysts and consultants, we at Polaris strive to provide value-added business solutions to PMR customers.

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