Energy Management System Market is estimated to grow at a CAGR of 18.2% during forecast period 2022-2030


Global energy management system (EMS) market is estimated to grow at a CAGR of 18.2% during forecast period (2022-2030). Global EMS market is primarily driven by rising awareness about carbon footprint and an increase in demand for efficient EMS. Rising concern of various governments on increasing carbon emission level and calculation of carbon footprint per product. Growing carbon emission and increasing demand for energy across the globe is expected to drive the demand for EMS to efficiently manage the energy consumption and generation. Government of various countries are rising their concern on increasing carbon emission level and calculation of carbon footprint per product. 

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Industrial Energy management system segment in EMS market accounts the largest share in product and is projected to grow with CAGR of 17.8% during the forecasted period 2022-2030. Industrial Energy management system segment is primarily driven by implementation of energy efficiency standards for industries across the globe by different governments and by Industry 4.0. Moreover, according to the Bureau of Energy Efficiency (BEE) (India), Ministry of Power (government of India) has also implemented energy efficiency standards for industries. Similarly, government of China, Germany, Japan and others are also working on decreasing the energy consumption by implementing different practices in industrial sector. Furthermore, adoption of Industrial 4.0 is also expected to drive the implementation of EMS for increasing energy efficiency. Thus, implementation of different standards and programs is expected to boost the adoption of EMS across industrial sector. 

Commercial segment in EMS market accounts the largest share in end-user segment and is expected to grow with CAGR of 18.0% during the forecast period 2022-2030. Commercial segment in EMS market is primarily driven by growing initiatives to promote the adoption of EMS in commercial sector in different countries. Moreover, government of China has continued its efforts to deploy EMS across the major 17,000 energy consuming organizations as per its 13th five-year plan (2016-2020). Furthermore, the European Commission has adopted ISO 50001 energy management standards to support the organizations conserve energy and save money. Thus, growing implementation of awareness programs and standards is expected to promote the adoption of EMS in commercial sector. 

Home segment in EMS market is projected to grow with CAGR of 20.9% during the forecast period 2022-2030. Home segment market is primarily driven by substantial investments in smart cities and measures taken by government of different countries to promote energy conservation and intervention over misuse of energy. In 2017, EIA stated that world energy consumption is projected to increase by 56 percent by 2040, necessitating to implement advanced equipment and adopt energy management systems demand to efficiently of energy. Moreover, government across the globe are promoting the adoption of smart energy systems in homes to conserve energy. 

United States EMS market accounts the largest share in North America and is projected to grow with a CAGR of 17.8% during the forecast period. Total revenue from United States EMS market is anticipated to reach $27833 million by 2024, from $8828 million in 2017. United States EMS market is primarily driven by the government initiatives to promote adoption of energy management projects. Federal government has introduced “Federal Energy Management program” to efficiently manage energy consumption and to minimize carbon emissions. The goals of this program include helping agencies to reduce GHG emissions by 40% by 2025. In addition, as per the Industrial Efficiency Policy Database Organization (United States), Federal government has introduced “Superior Energy Performance” program to ensure that industrial facilities to achieve continual improvement in energy. Moreover, this program also focus on accelerating systematic energy performance improvement in commercial and manufacturing sectors to reduce carbon emissions and to minimize energy use. Thus, this type of initiative is expected to drive the adoption of energy management systems in the country. 

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Product launch & upgrade is the primary strategy adopted by companies in the global EMS market. Collaboration, joint venture & partnership is the secondary strategy adopted by companies in global EMS market. The intensity of competitive rivalry in the global energy management system market is high. Companies in the market are adopting various strategies to maintain and increase their market share by capturing new customers. Top companies in the EMS market include Honeywell International, Siemens AG, Schneider Electric, General Electric Company, ABB, and others. 

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KEY MARKET MOVEMENTS 

  • Global energy management system (EMS) market is estimated to grow at a CAGR of 18.2% during forecast period (2022-2030).
  • Global EMS market is primarily driven by rising awareness about carbon footprint and increase in demand for efficient EMS. Rising concern of various governments on increasing carbon emission level and calculation of carbon footprint per product.
  • Industrial Energy management system segment in EMS market accounts the largest share in product and is projected to grow with CAGR of 17.8% during the forecasted period 2022-2030.
  • Commercial segment in EMS market accounts the largest share in end-user segment and is expected to grow with CAGR of 18.0% during the forecast period 2022-2030.
  • Home segment in EMS market is projected to grow with CAGR of 20.9% during the forecast period 2022-2030.
  • United States EMS market accounts the largest share in North America and is projected to grow with a CAGR of 17.8% during the forecast period.
  • Product launch & upgrade is the primary strategy adopted by companies in global EMS market.
  • Collaboration, joint venture & partnership is the secondary strategy adopted by companies in the global EMS market.
  • The intensity of competitive rivalry in the global energy management system market is high.
  • Top companies in the EMS market include Honeywell International, Siemens AG, Schneider Electric, General Electric Company, ABB, and others.

Global Energy Management System Market is Segmented into:

  • by Product (2020-2030; US$ Mn)
  • by Vertical (2020-2030; US$ Mn)
  • by End User (2020-2030; US$ Mn)
  • by Region (2020-2030; US$ Mn)
  • by Covid-19 Impact Segment (2020-2030; US$ Mn)

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