The global Energy Management Systems (EMS) market size was USD 36.87 Billion in 2022 and is expected to reach USD 110.76 Billion in 2032, and register a revenue CAGR of 13% during the forecast period. Increasing energy consumption concerns and rising demand for energy-efficient solutions are major factors driving market revenue growth.
Energy management systems assist businesses in maximizing energy use, cutting expenses, and minimizing environmental effect. Moreover, rising use of Renewable Energy sources, requirement for operational efficiency, and government programs to promote energy conservation are all contributing to revenue growth of the market.
Get a sample of the report @ https://www.reportsanddata.com/download-free-sample/7232
Demand for EMS is rising across various end-use industries, such as manufacturing, healthcare, and commercial buildings, which is driving demand for effective energy management solutions. Commercial building EMS use is expanding quickly as a result of the need to cut operating costs and adhere to environmental laws. Due to the demand for energy-efficient processes and the ongoing trend toward sustainability, the industrial industry is likewise seeing significant adoption of EMS. Likewise, the healthcare industry is implementing EMS to cut down on energy use and lessen its negative environmental effects.
Revenue growth of the market is expected to be driven by technological developments including the Internet of Things (IoT), Artificial Intelligence (AI), and cloud computing. IoT-enabled EMS solutions help enterprises to optimize energy use and cut expenses by offering real-time monitoring and control of energy consumption. AI and cloud computing integration with EMS systems enable businesses to evaluate data and make reasoned decisions to increase energy efficiency.
Energy storage and demand response are two sophisticated characteristics that are in high demand for EMS solutions. Organizations can lessen their reliance on grid electricity by using energy storage devices to store extra energy produced from renewable sources and use it when needed. Demand response systems assist companies in managing peak demand by automatic energy consumption reductions during peak demand periods. In addition, government programs to conserve energy are encouraging the use of EMS solutions. For instance, the Energy Policy Act of 2005 in the U.S. requires government agencies to cut their energy use and promotes the adoption of energy-efficient equipment. Similar goals have been established by the European Union (EU) to lower greenhouse gas emissions and drive the proportion of renewable energy in its energy mix.
Competitive Landscape:
- Honeywell International Inc.
- Siemens AG
- General Electric
- Johnson Controls International plc
- Azbil Corporation
- ABB Ltd.
- Eaton Corporation
- Schneider Electric
- Cisco Systems, Inc.
- Emerson Electric Co.
The global market is further segmented into type and application:
| By Component Outlook |
|
| By End-Use Outlook |
|
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Request a customized copy of the report @ https://www.reportsanddata.com/request-customization-form/7232
Thank you for reading our report. Please connect with us to know more about the report and its customization feature. Our team will ensure the report is well suited to meet your requirements.
Get Explore Latest Research Report by Reports and Data:
Internet of Packaging Market @ https://www.reportsanddata.com/report-detail/internet-of-packaging-market
Aviation Insurance Market @ https://www.reportsanddata.com/report-detail/aviation-insurance-market
Internet of Energy Market @ https://www.reportsanddata.com/report-detail/internet-of-energy-market
Telecom Billing and Revenue Management Market @ https://www.reportsanddata.com/report-detail/telecom-billing-and-revenue-management-market
Robotics and Automation in the Food Industry Market @ https://www.reportsanddata.com/report-detail/robotics-and-automation-in-the-food-industry-market
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, TouchPoints, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provide our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
(Head of Business Development)
Reports and Data | Web:www.reportsanddata.com
Direct Line:+1-212-710-1370
E-mail:sales@reportsanddata.com
Blogs|Press Release|Industry News|Our competencies
Browse MoreUpcoming Reports @https://www.reportsanddata.com/upcoming-reports
Browse More Latest Reports @https://www.reportsanddata.com/report
