Global Industrial Energy Management Systems (IEMS) Market to Reach $32.1 Billion by 2026

SAN FRANCISCO, March 22, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Industrial Energy Management Systems (IEMS) - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 16; Released: February 2022
Executive Engagements: 30573
Companies: 73 - Players covered include ABB Ltd.; AECOM; ARCHIBUS, Inc.; Autodesk, Inc.; C3 Energy; Cascade Energy Inc.; Cypress Envirosystems; Eaton Corporation Plc; Emerson Electric Company; Enel X S.r.l; ENERGYai; General Electric Company; GridPoint, Inc.; Honeywell International Inc.; IBM Corporation; Lightapp Technologies; Mitsubishi Electric Corporation; Opto22; Rockwell Automation, Inc.; SAP SE; Schneider Electric SE; Setpoint Systems Corporation; Siemens AG; Trane Inc. and Others.
Coverage: All major geographies and key segments
Segments: Component (Hardware, Software, Services); Application (Automotive, Food & Beverage, Electronics, Mining, Oil & Gas, Petrochemicals & Chemicals, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.

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ABSTRACT-

Global Industrial Energy Management Systems (IEMS) Market to Reach $32.1 Billion by 2026
The world's economy stands at the risk of requiring substantially high amounts of energy reserves in case the energy efficiency efforts are not prioritized on an immediate basis. From drilling and mining activities to the ever-increasing use of fossil fuels in industrial facilities and power plants, the massive production and usage of traditional energy can have several negative impacts. The process of extracting resources, such as petroleum and coal, can adversely affect ecosystems and landscapes, while water, soil, and air quality can get degraded due to release of particulates, pollutants, and heavy metals into the air. Energy efficiency is considered to be more cost-effective as compared to other energy options, making it vital that it should be prioritized on the policy agenda for immediate action. Energy efficiency can help in significantly reducing the amount of money required for saving electricity as compared to the cost of electricity generation through both renewable as well as traditional energy options. Apart from the apparent cost benefits, the implementation of energy efficiency measures can also indirectly facilitate in improving the efficiency of the electric grid, thereby bringing down electricity prices for consumers and saving money for grid operators.

Amid the COVID-19 crisis, the global market for Industrial Energy Management Systems (IEMS) estimated at US$23.3 Billion in the year 2022, is projected to reach a revised size of US$32.1 Billion by 2026, growing at a CAGR of 7.2% over the analysis period. Hardware, one of the segments analyzed in the report, is projected to record a 6.8% CAGR and reach US$17.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 7.5% CAGR for the next 7-year period.

The U.S. Market is Estimated at $6.8 Billion in 2022, While China is Forecast to Reach $2.4 Billion by 2026
The Industrial Energy Management Systems (IEMS) market in the U.S. is estimated at US$6.8 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.4 Billion by the year 2026 trailing a CAGR of 8.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.3% and 6.8% respectively over the analysis period.

Energy efficiency across all energy end-use sectors has and will continue to play an instrumental role in bringing down energy consumption levels. Gradually expanding energy diversity has additionally eliminated the threat of the impending energy crisis. Today energy is exploited from ocean beds, shale rock, nuclear fission, biofuels, wind and sun, among others. Climate change policies are continuing to encourage growth in the diversity of energy sources. By the year 2040, CO2 intensive activities will be halved by over 50% highlighting the massive long-term potential for the growth of clean technologies. The amount of energy required per unit of GDP is expected to decline by over 38% between the period 2017 and 2035. Global energy consumption per capita is therefore poised to decline despite the projected gains in energy demand for the coming years. Few of the perennial factors which will always create a need for energy include growing population and a parallel increase in heating and cooling HVAC needs, rapid urbanization and development of densely populated urban habitations, industrialization of emerging economies, and expanding manufacturing and industrial activity.

Services Segment to Reach $5.5 Billion by 2026
Global market for Services segment is estimated at US$3.6 Billion in 2022, and is projected to reach US$5.5 Billion by 2026 reflecting a compounded annual growth rate of 8.0% over the analysis period. Europe constitutes the largest regional market for Services segment, accounting for 30.0% of the global sales. China is poised to register the fastest compounded annual growth rate of 9.3% over the analysis period, to reach US$352.4 Million by the close of the analysis period. More

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SOURCE Global Industry Analysts, Inc.