Increasing awareness about climate change, stringent government regulations regarding carbon emissions, increase in installation of smart grids

VANCOUVER, BRITISH COLUMBIA, CANADA, July 1, 2024 /EINPresswire.com/ -- 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.  The global energy management systems (EMS) market is experiencing significant growth, driven by increasing awareness of climate change, stringent government regulations on carbon emissions, and the rapid adoption of smart grid technologies. A recent market research report highlights these trends, showcasing a robust revenue trajectory bolstered by urbanization, digitalization, and the integration of advanced technologies.

Energy Management Systems (EMS) have become integral to various industries worldwide, offering precise insights into energy usage patterns and enabling businesses to optimize operations and reduce costs effectively. These systems leverage technologies such as Internet of Things (IoT) sensors and predictive analytics to provide real-time monitoring and proactive energy management solutions. This capability not only enhances operational efficiency but also supports sustainability initiatives by minimizing energy wastage.

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"In industries ranging from manufacturing to healthcare, EMS solutions play a crucial role in ensuring uninterrupted operations and cost management," noted a spokesperson from the industry. "The ability to balance energy supply and consumption in real-time is essential, particularly in sectors with high energy demands."

Despite these advancements, the market faces challenges, primarily due to the substantial upfront investment required for EMS implementation. This financial barrier often deters small and medium-sized enterprises (SMEs) from adopting these solutions, limiting market expansion in certain sectors.

Market segmentation reveals that industrial energy management systems hold the largest revenue share, driven by the manufacturing sector's intensive energy requirements and the need for operational efficiency. Meanwhile, the home energy management systems segment is expected to register the highest growth rate, fueled by increasing residential demand for efficient energy use and cost savings.

Key industry developments include product innovations and strategic launches by leading players. For instance, Schneider Electric introduced the Schneider Home energy management solution, integrating home energy storage, solar power, and smart devices to empower homeowners with energy independence and savings.

The deployment landscape of EMS is diverse, with cloud-based solutions dominating due to their scalability and real-time data analysis capabilities. However, on-premises EMS solutions continue to appeal to enterprises seeking direct control over their energy management infrastructure and enhanced security.

Energy Management Systems Top 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.

ai, Inc.

Ameresco

Oracle

Enel Energia S.p.a.

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Energy Management Systems Latest Industry News

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.

Energy Management Systems Market Segment Analysis

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

U.S.

Canada

Europe

Germany

France

U.K.

Italy

Spain

Benelux

Russia

Rest of Europe

Asia Pacific

China

Japan

South Korea

India

ASEAN Countries

Oceania

Rest of APAC

Latin America

Brazil

Mexico

Rest of LATAM

Middle East & Africa

GCC Countries

Israel

Turkey

South Africa

Rest of MEA

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