The Worldwide Energy Management Systems Market size garnered USD 36.23 billion in 2021 and is expected to witness a CAGR of 13.8% from 2022 to 2030.
The increase in energy use management across commercial, industrial and public sector organizations has increased the demand for energy management systems (EMS). Implementing advanced energy-efficient technologies and reducing energy waste can help curb greenhouse gas emissions, minimize potential exposure to fluctuating energy prices, and increase productivity.
In February 2020, the World Resources Institute cited data suggesting that energy consumption is the largest source of anthropogenic greenhouse gas emissions. Amid the general trend, industry participants will find IoT-based solutions to optimize energy consumption and control energy flow.
Energy management systems (EMS) play a crucial role in optimizing energy consumption and promoting energy efficiency in various sectors. Whether it's a home energy management system (HEMS) or a building energy management system (BEMS), these systems enable precise energy monitoring, control, and analysis. By implementing an EMS, organizations can achieve significant energy savings and improve their overall energy performance. These systems facilitate energy optimization by integrating demand response mechanisms, smart grid technologies, and renewable energy sources. Through energy audits and analysis, EMS allows for effective energy management control, identifying areas of energy inefficiency and providing actionable insights for energy conservation.
Additionally, energy reporting features enable stakeholders to track energy consumption patterns and make informed decisions to enhance energy management practices. With the growing focus on sustainability and cost reduction, energy management systems have become indispensable tools for efficient energy management and achieving long-term energy goals.
Market Dynamics:
The Home Energy Management Systems (HEMS) segment is expected to exhibit an impressive CAGR against the backdrop of soaring energy consumption. The EIA's Annual Energy Outlook for 2015 claims that domestic consumption will grow by 0.3% annually through 2040. Energy optimization solutions, including the use of software to help detect the electrical substrates and energy consumption of smart homes, are likely to foster home energy management systems.
Smart devices (smart sensors and smart meters) could gain more traction in the future period as space heating, air conditioning, water heating, lighting, and appliances continue to be among the most important uses of electricity in the residential sector. The increased penetration of energy-saving devices is expected to intensify the demand for home energy management systems.
Key players:
Market Segmentation:
Energy Management Systems Market System, Type Outlook
Energy Management Systems Market, Component Outlook
Energy Management Systems Market, Deployment Outlook
Energy Management Systems Market, Vertical Outlook
Energy Management Systems Market, Regional Outlook
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North America
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U.S.
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Canada
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Mexico
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Europe
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U.K.
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Germany
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France
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Asia Pacific
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China
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India
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Japan
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Central & South America
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Brazil
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Middle East & Africa
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Regional Analysis:
In 2022, the energy management systems market was dominated by Asia Pacific. Energy management systems are in great demand as a result of the electricity shortages in several areas of Asia and the Pacific. The market is growing as a result of rapid urbanisation and industrialization. The energy management system market in Asia Pacific is expanding as a result of significant investment in its development.
North America is expected to develop at the fastest pace during the forecast period. Stringent government regulations regarding energy storage and management are driving the market growth. Additionally, governments are implementing favorable policies to support the adoption of energy systems. This factor is driving the growth of the energy management systems market in North America.
Scope of the Report:
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Details |
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Market Size Available For Years |
2020–2030 |
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Base Year Considered |
2020 |
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Forecast Period |
2021–2030 |
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Forecast Unit |
Value (USD) |
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Segments Covered |
Type, Deployment Model, Provider, Application, Enterprise Size, and Region |
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Regions Covered |
North America (the U.S. and Canada), Europe (Germany, the UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa) |
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Companies Covered |
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User
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Introduction
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Market Size Estimation
The overall size of the market has been estimated and validated using both top-down and bottom-up methods. The sizes of other market subsegments have also been thoroughly estimated using these methodologies.
In the top-down technique, the market is divided into segments based on the percentage share of each segment. This method assisted in determining the size of each segment's market. The market size of each segment and its sub-segments was then divided into regional market sizes. This Approach helps mainly with the new Product Launch. It uses Multi-variate Regression Model coupled with Vendor based primary research inputs to forecast to the Market Size.
In the Bottom-Up approach, comprehensive study of key players has to be done wherein we add the market size of the major key players to understand the national market size which helps to determine the regional market size and eventually the complete market size. Companies annual report along with data from paid and unpaid resources like reports from government agencies and organizations like world bank provide the data for this approach.
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