Energy Management Systems Market Size Worth USD 136.57 Billion in 2032 | Emergen Research

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Global Energy Management Systems Market Shows Robust Growth, Fueled by Increasing Awareness of Climate Change and Government Regulations

Vancouver, Nov. 23, 2023 (GLOBE NEWSWIRE) — The global energy management systems market size was USD 40.77 Billion in 2022 and is expected to register a revenue CAGR of 12.8% during the forecast period. Key drivers include a heightened awareness of climate change, stringent government regulations on carbon emissions, and the surge in smart grid and smart meter installations. Urbanization and digitalization further contribute to the market’s growth.

One of the noteworthy trends is the increased utilization of Energy Management Systems (EMS) across various industries globally. These systems provide detailed insights into energy usage trends, allowing businesses to identify inefficiencies and optimize processes, resulting in significant cost savings.

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Modern EMS platforms, integrating smart technologies such as IoT sensors and advanced analytics, now offer real-time monitoring and predictive analytics. For instance, Schneider Electric recently introduced Schneider Home, a home energy management solution, incorporating a home battery, solar inverter, smart electrical panel, electric car charger, and connected devices managed through a user-friendly app.

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However, the implementation of EMS faces a major challenge – a substantial upfront investment. Many companies, particularly small and medium-sized enterprises, find the initial expenses unaffordable, hindering widespread adoption despite the long-term benefits of reduced energy costs and improved operational efficiency.

Type Insights:

In 2022, the industrial energy management systems segment dominated the market, emphasizing industries’ critical focus on optimizing energy consumption and operational efficiency. The systems provide precise monitoring and control mechanisms, aiding in trend analysis and the implementation of targeted waste reduction strategies. Notable product launches, such as ABB’s OPTIMAX for green hydrogen production, contribute to the segment’s revenue growth.

The Home Energy Management Systems (HEMS) segment is expected to witness the highest revenue CAGR. HEMS revolutionizes household energy management, offering real-time insights and user-friendly interfaces for remote monitoring and control. Companies like Enphase Energy are launching innovative products, such as the IQ Energy Router family, to capture significant market share.

Deployment Insights:

In 2022, the cloud segment dominated end-use, driven by the transformative impact of cloud-based EMS solutions on energy resource management. Cloud platforms provide scalability, accessibility, and real-time data analysis, attracting organizations of all sizes. ELES’s deployment of a cloud-based Advanced Energy Management System in 2021 is a testament to the scalability and innovative use cases offered by cloud solutions.

The on-premises segment is expected to witness a fast revenue growth rate. Security concerns and the need for direct control over energy management infrastructure make on-premises EMS appealing to organizations, especially those dealing with sensitive data or vital infrastructure.

End-Use Insights:

The manufacturing segment led the market in 2022, reflecting the power-intensive nature of the industry. Energy expenses account for a significant portion of production costs, making effective energy management crucial for increased profitability and sustainability.

The IT and telecom segment is anticipated to register the highest revenue CAGR, driven by the industry’s high energy consumption requirements. EMS solutions help optimize complex operations, aligning with the industry’s trend toward sustainability and renewable energy integration.

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Regional Insights:

In 2022, North America accounted for the largest revenue share, attributed to a developed industrial sector, technological adoption, and government initiatives. Home adoption of Home Energy Management Systems (HEMS) and new product launches, like Honeywell’s Ionic, contribute to the region’s market dominance.

Asia Pacific is expected to experience the fastest revenue growth, fueled by rapid industrialization, urbanization, and significant investments in smart city projects. China, in particular, holds the largest market share, with growing concerns about climate change prompting active implementation of EMS solutions.

The European market is poised for significant growth due to stringent energy efficiency regulations and increasing investments in renewable energy sources. The German market, aligned with the government’s carbon-neutral goals, is expected to witness substantial expansion.

Scope of Research

Report Details Outcome
Market size in 2022 USD 40.77 Billion
CAGR (2023–2032) 12.8%
Revenue forecast to 2032 USD 136.57 Billion
Base year for estimation 2022
Historical data 2019–2021
Forecast period 2023–2032
Quantitative units Revenue in USD Billion and CAGR in % from 2023 to 2032
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Type, application, deployment, end-use, and region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Country scope U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Russia, Rest of Europe, China, India, Japan, South Korea, ASEAN Countries, Oceania, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA
Key companies profiled Schneider Electric, Siemens AG, Honeywell International Inc., ABB Ltd., Eaton, Johnson Controls, Cisco Systems, Inc., IBM Corporation, GE DIGITAL, Emerson Electric Co., Delta Electronics, Inc., Rockwell Automation, Schweitzer Engineering Laboratories, Inc., Yokogawa Electric Corporation, Engie, Itron, Inc.C3.ai, Inc., Ameresco, Oracle, and Enel Energia S.p.a.
Customization scope 10 hours of free customization and expert consultation

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Major Companies and Competitive Landscape

The global energy management systems market is fragmented with several large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective energy management systems solutions. Some major players included in the global energy management systems market report are:

  • Schneider Electric
  • Siemens AG
  • Honeywell International Inc.
  • ABB Ltd.
  • Eaton
  • Johnson Controls
  • Cisco Systems, Inc.
  • IBM Corporation
  • GE DIGITAL
    • Emerson Electric Co.
    • Delta Electronics, Inc.
    • Rockwell Automation
  • Schweitzer Engineering Laboratories, Inc.
  • Yokogawa Electric Corporation
  • Engie
  • Itron, Inc.
  • C3.ai, Inc.
  • Ameresco
  • Oracle
  • Enel Energia S.p.a.

Strategic Development

  • In March 2023, Sumitomo Electric Industries, Ltd. launched an energy management solution based on SEMSA technology that enables diverse uses for grid storage batteries. Sumitomo Electric’s energy management systems with their unique architecture have realized a variety of solutions for the optimal control of distributed power sources, such as virtual power plants that require connectivity to power trading markets and regional decarbonization solutions that use renewable energy and storage batteries.
  • In February 2023, Emerson incorporated its extensive power knowledge and renewable energy capabilities into the Ovation Green portfolio to assist power production firms fulfill the needs of customers navigating the transition to green energy generation and storage.

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For the purpose of this report, Emergen Research has segmented global energy management systems market on the basis of type, deployment, application, end-use, and region:

  • Type Outlook (Revenue, USD Billion; 2019-2032)
    • Industrial Energy Management Systems
    • Building Energy Management Systems
    • Home Energy Management Systems
  • Deployment Outlook (Revenue, USD Billion; 2019-2032)
    • On-Premises
    • Cloud
  • Application Outlook (Revenue, USD Billion; 2019-2032)
    • Commercial
    • Residential
  • End-Use Outlook (Revenue, USD Billion; 2019-2032)
    • Healthcare
    • Manufacturing
    • IT and Telecom
    • Energy and Utilities
    • Others
  • Regional Outlook (Revenue, USD Billion; 2019–2032)
    • North America
      1. U.S.
      2. Canada
    • Europe
      1. Germany
      2. France
      3. U.K.
      4. Italy
      5. Spain
      6. Benelux
      7. Russia
      8. Rest of Europe
    • Asia Pacific
      1. China
      2. Japan
      3. South Korea
      4. India
      5. ASEAN Countries
      6. Oceania
      7. Rest of APAC
    • Latin America
      1. Brazil
      2. Mexico
      3. Rest of LATAM
    • Middle East & Africa
      1. GCC Countries
      2. Israel
      3. Turkey
      4. South Africa
      5. Rest of MEA

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