Portland, OR , June 01, 2022 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global energy management systems market generated $36.2 billion in 2020, and is expected to reach $161.9 billion by 2030, growing at a CAGR of 16.2% from 2021 to 2030.
Surge in inclination toward energy efficiencies and regulatory obligations drives the global energy management systems market. However, financial difficulties, hidden costs, and long payback time hinder the market growth. On the contrary, emerging economies would unlock new opportunities in the future.
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Covid-19 scenario:
- The Covid-19 pandemic negatively affected the market due to diminished energy usage in heavy coal, petroleum, and natural gas industries.
- However, the market has now survived due to increased energy consumption from residential units and rise in activities such as online shopping, remote work, and powering home appliances.
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The report segments the global energy management system market on the basis of component, end user, type, application, and region.
Based on component, the report is divided into service and solution. The solution segment held the largest share in 2020, accounting for nearly three-fourths of the market. However, the service segment is projected to register the highest CAGR of 18.5% during the forecast period.
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On the basis of end user, the energy and utilities segment held the largest share in 2020, contributing to nearly one-third of the market. However, the healthcare segment is estimated to manifest the highest CAGR of 19.1% from 2021 to 2030.
The global energy management systems industry is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the lion’s share in 2020, accounting for nearly one-third of the market. In addition, the region is anticipated to portray the highest CAGR of 17.9% during the forecast period.
The global energy management systems market includes an in-depth analysis of the prime market players such as Siemens AG, yokogawa electric corporation, C3 energy, Delta electronics, Dexma, General Electric company, Gridpoint Systems, Honeywell International Inc., Johnson controls international plc., and Schneider Electric.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
