Global Energy Management System Market Size & Share Estimated to Grow to USD 108 Billion By 2030, at 13.4% CAGR: Polaris Market Research

NEW YORK, Nov. 16, 2022 /PRNewswire/ -- Polaris Market Research recently published [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 & share was valued at USD 35.54 billion in 2021 and is expected to reach USD 108 Billion by 2030, growing at a CAGR of 13.4% during the forecast period.

What is Energy Management Systems? How Big is Energy Management System Market Size & Share?

• Overview

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

EMS is widely utilized in sectors like power and energy, IT and telecom, and other industries. Some of the key benefits of energy management systems include Reduced energy consumption, decreased operating costs, and ease of use. These factors are driving the growth of the market. Also, the increasing use of smart grids and smart meters is fueling the energy management systems market demand.

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Our Free Sample Report Includes

• Report introduction, overview, and in-depth industry analysis
• Breakdown data by regions, type, players, and applications
• Competitive landscape and leading competitor market shares
• 110+ pages research report
• Offers chapter-wise instruction on request
• Includes market presence across different geographies with share, size, and trends
• Updated list of tables and figures
• The report covers leading players with their business strategies
• Factors and fact research methodology

Some of the Top Market Players Are:

• Schneider Electric SE
• Honeywell International Inc.
• Siemens AG
• Johnson Controls, Inc.
• C3.ai, Inc.
• GridPoint, General Electric
• ABB
• International Business Machines Corporation
• Cisco Systems Inc.

For Additional List of Players and Detail Information, Download a Report PDF Brochure

Growth Driving Factors

• Increasing initiatives by the government to minimize energy consumption push the market growth

The growing digitization worldwide, which has led to the transformation of different industrial and commercial operations and energy management, is the prominent factor boosting the energy management systems market sales. Rising initiatives by government across many countries to reduce energy consumption caused by increasing industrialization is expected to propel industry growth.  Increasing energy price inflation and supplier rivalry are encouraging the government to raise spending on renewable energy, which is fueling product demand.

Moreover, a surge in the requirement for management of energy use across commercial, industrial, and public sector organizations has propelled the demand for EMS. Escalating investments by private and public companies in smart projects like smart buildings and smart farms are anticipated to positively influence energy management systems market size.

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Recent Developments

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

Segmental Analysis

• Home Energy Management Systems (HEMS) held the major market share in 2021

In terms of system, in 2021 Home Energy Management Systems (HEMS) segment largely contributed to the energy management systems market share and is anticipated to generate a high CAGR over the forecast period. As per EIA's Annual Energy Outlook 2015, household demand is estimated to increase by 0.3% annually through 2040. The important factors supporting the growth of the HEMS can include energy optimization solutions that aid in detecting energy use. Also, the home sector is known as the primary utilizer of energy for space heating, air conditioning, water heating, lighting, and appliances. This shows that the need for home energy management systems will grow. 

• Hardware industry held the biggest revenue share in the market

On the component basis energy management systems market segmentations, the hardware industry accounted for the largest market share owing to the growing adoption of communication and sensor technologies. Hardware components are widely used as they are more dependable, have longer service lives, 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 technologies category dominated the market due to the rising necessity to reduce carbon emissions and minimize costs. The incorporation of these systems in cloud computing enhances flexibility for businesses and enables monitoring and evaluating data remotely.

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Energy Management Systems Market: Report Scope

Geographic Overview

• North America dominates the market

By geography, energy management systems market in North America witnessed the largest revenue share. The United States and Canada are anticipated to create growth opportunities for producing money. Also, there is the rising use of smart grids and investment in infrastructure in these countries, which is driving the regional market growth. As per the IEA report, in 2021, investments in energy grids would increase by 10%, with the U.S. being one of the leading investment sources of infrastructure. Moreover, due to the increased need for smart energy, a stakeholder is highly investing in EMS, which is ultimately boosting the industry expansion in North America.

Browse the Detail 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 in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/energy-management-systems-market  

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Polaris Market Research has segmented the energy management system market report based on system, component, deployment and region:

By System Outlook

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

By Component Outlook

• Hardware
• Software
• Services

By Deployment Outlook

• On-Premises
• Cloud

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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