WASHINGTON, March 16, 2023 (GLOBE NEWSWIRE) -- Global Energy Management Systems Market size was valued at $36.4 Billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 15.8% from 2022 to 2028, according to a report by Vantage Market Research. The increasing demand for energy-efficient solutions and the rising adoption of renewable energy sources are expected to drive the growth of the EMS market over the next few years.
Energy Management Systems (EMS) Market Overview
Energy Management Systems (EMS) are software-based solutions that help organizations and businesses monitor, control, and optimize their energy usage. The EMS market is growing rapidly as more companies and governments look for ways to reduce energy consumption, lower costs, and meet sustainability goals.
The EMS market is segmented by component, offering, and end-use industry. The components include software and services, while the offerings include solutions and services. The end-use industries include building automation, manufacturing, retail, healthcare, and others.
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Top Report Findings
- The EMS market was valued at $36.4 Billion in 2021 and is expected to grow at a CAGR of 15.8% from 2022 to 2028.
- The software component of EMS solutions dominated the market in 2022, with a share of over 50%. However, the services segment is expected to grow at a faster rate over the forecast period.
- Building automation was the largest end-use industry for EMS solutions in 2022, accounting for over 30% of the market share. The manufacturing and retail industries are also significant end-use industries for EMS solutions.
- North America dominated the EMS market in 2022, with a share of over 35%. This is attributed to the high adoption of energy-efficient solutions, favorable government initiatives, and the presence of major market players in the region.
- The Asia Pacific region is expected to witness significant growth in the EMS market over the forecast period, driven by the increasing adoption of renewable energy sources and rising demand for energy-efficient solutions in countries such as China and India.
Top Players in the Global Energy Management Systems Market
- IBM Corporation
- Rockwell Automation Inc.
- General Electric Co.
- Schneider Electric SE
- Cisco Systems Inc.
- Tendril Networks Inc.
- Eaton Corporation
- EnerNOC Inc.
- Elster Group GMBH
- SAP SE
- Siemens AG
- Honeywell International Inc.
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Market Dynamics
Government regulations and initiatives: Governments around the world are introducing regulations and initiatives to encourage the adoption of energy-efficient solutions and reduce carbon emissions. This is driving the adoption of EMS solutions across different industries.
Technological advancements: Rapid advancements in technology are enabling the development of more advanced and sophisticated EMS solutions that are easier to use and more effective in managing energy consumption.
Cost savings: EMS solutions can help organizations save on energy costs by identifying inefficiencies in energy usage and optimizing energy consumption.
Increasing demand for smart homes and buildings: The increasing popularity of smart homes and buildings is driving the adoption of EMS solutions in the building automation industry.
Growing awareness about environmental sustainability: Consumers and organizations are becoming more aware of the impact of their actions on the environment and are looking for ways to reduce their carbon footprint. This is driving the adoption of EMS solutions as a way to reduce energy consumption and meet sustainability goals.
Cybersecurity concerns: The growing use of digital technologies and cloud-based systems in EMS solutions has increased the risk of cyber threats. As a result, organizations are investing in cybersecurity measures to protect their data and systems.
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Top Trends in Global Energy Management Systems Market
Increasing adoption of cloud-based EMS: Cloud-based EMS solutions are becoming increasingly popular due to their flexibility, scalability, and cost-effectiveness. These solutions enable remote monitoring and control of energy consumption, making it easier for organizations to optimize their energy usage.
Integration of IoT and AI technologies: EMS solutions are incorporating Internet of Things (IoT) and artificial intelligence (AI) technologies to improve energy efficiency and reduce costs. IoT sensors can provide real-time data on energy usage, while AI algorithms can analyze the data and identify areas for improvement.
Focus on renewable energy sources: With the increasing adoption of renewable energy sources, such as solar and wind power, EMS solutions are being designed to manage and optimize the use of these sources. This includes integrating with smart grids and battery storage systems to ensure efficient and reliable energy supply.
Rise of energy-as-a-service (EaaS) models: EaaS models are becoming more popular, particularly in the commercial and industrial sectors. These models enable organizations to outsource their energy management to third-party providers, who use EMS solutions to optimize energy consumption and reduce costs.
Emphasis on cybersecurity: With the increasing use of digital technologies in EMS solutions, cybersecurity is becoming a major concern. Vendors are implementing robust security measures to protect their systems and data, and organizations are prioritizing cybersecurity when selecting EMS solutions.
Demand for user-friendly interfaces: As EMS solutions become more sophisticated, there is a growing demand for user-friendly interfaces that are easy to use and understand. Vendors are designing solutions with intuitive interfaces and dashboards that provide actionable insights into energy usage.
Browse market data Tables and Figures spread through 148 Pages and in-depth TOC on Energy Management Systems Market Forecast Report (2022-2028).
Key Questions Answered in the Report:
- What is the current size and projected growth of the EMS market, and what factors are driving this growth?
- What are the different types of EMS solutions available in the market, and what are their key features and benefits?
- What are the major end-use industries for EMS solutions, and what are their specific energy management needs?
- What are the key geographic regions for the EMS market, and what factors are driving growth in these regions?
- Who are the major players in the EMS market, and what are their key product offerings and strategies?
- What are the key trends and challenges in the EMS market, and how are vendors addressing these challenges?
- What are the regulatory and policy frameworks governing the EMS market, and how are these frameworks impacting the market?
- What are the key opportunities and threats in the EMS market, and how can vendors capitalize on these opportunities and mitigate these threats?
Global Energy Management Systems Market Segmentation
By Type of EMS
- BEMS
- IEMS
- HEMS
By End User
- Manufacturing
- Power and Energy
- IT and Tele Communication
- Healthcare
- Other
By Application
- Energy Generation
- Energy Transmission
- Energy Monitoring
By Component
- Hardware
- Software
- Services
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 36.4 Billion |
| Revenue Forecast by 2028 | USD 87.7 Billion |
| CAGR | 15.8% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | IBM Corporation, Rockwell Automation Inc., General Electric Co., Schneider Electric SE, Cisco Systems Inc., Tendril Networks Inc., Eaton Corporation, EnerNOC Inc., Elster Group GMBH, SAP SE, Siemens AG, Honeywell International Inc. |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Regional Analysis
- North America: North America is the largest market for EMS solutions, driven by the high adoption of energy-efficient solutions and favorable government initiatives. The United States is the largest market in the region, followed by Canada and Mexico. The market is characterized by the presence of major market players and increasing adoption of cloud-based and IoT-enabled EMS solutions.
- Europe: Europe is the second-largest market for EMS solutions, driven by the growing demand for energy-efficient solutions and the adoption of renewable energy sources. The United Kingdom, Germany, and France are the major markets in the region, with the market being characterized by a high level of technological advancements and the presence of a large number of SMEs.
- Asia Pacific: Asia Pacific is the fastest-growing market for EMS solutions, driven by the increasing adoption of renewable energy sources and rising demand for energy-efficient solutions in countries such as China, India, and Japan. The market is characterized by the presence of a large number of small and medium-sized enterprises (SMEs), as well as major market players.
- Middle East and Africa: The Middle East and Africa (MEA) market for EMS solutions is driven by the increasing demand for energy-efficient solutions in the commercial and industrial sectors. The market is characterized by the presence of major market players and the adoption of cloud-based and IoT-enabled EMS solutions.
- Latin America: The Latin America market for EMS solutions is driven by the growing demand for energy-efficient solutions in the industrial sector, particularly in countries such as Brazil and Mexico. The market is characterized by the adoption of cloud-based and IoT-enabled EMS solutions and the presence of a large number of SMEs.
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