Energy Management System Market - Forecast(2024 - 2030)
Energy Management System Market Overview
The Energy Management System (EMS) market size is forecast to reach USD 120.4 billion by 2030, after growing at a CAGR of 14.6% during the forecast period 2024-2030. The increasing focus on managing energy consumption, optimizing the use of renewable energy sources, reducing the carbon footprint and greenhouse gas emissions are creating demands for EMS. The growing usage of smart grid services in industrial sector and increasing demand for EMS from developed countries and government policies and incentives.
Energy management systems are increasingly integrating wit h smart grids, enabling real-time monitoring, control, and optimization of energy distribution. Smart grids enhance grid reliability, reduce energy wastage, and support the integration of renewable energy sources into the grid. The adoption of microgrids is rising as businesses and communities seek energy independence, resilience, and efficiency. Microgrids allow localized energy generation, storage, and distribution, enabling resilience during grid outages and optimizing energy usage. Energy management systems are leveraging advanced analytics and artificial intelligence to detect energy theft and fraud, enhancing revenue protection and operational efficiency for utilities and energy providers. Grid management systems powered by energy management solutions are improving grid efficiency through predictive maintenance, demand response programs, and optimized energy routing, leading to reduced downtime and enhanced performance. Energy management systems play a pivotal role in integrating renewable energy sources such as solar and wind power into existing energy infrastructure. By optimizing renewable energy utilization and storage, these systems facilitate the transition to a cleaner and more sustainable energy mix are some of the factors will further enhance the overall market demand for Energy Management System market during the forecast period.
Market Snapchat
Report Coverage
The report: “Energy Management System Market – Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Energy Management System Market.
By Component: Sensors, Controllers, Software and Others.
By Type: Home Energy Management Systems, Building Energy Management Systems, Industrial Energy Management Systems.
By Vertical: Power & Energy, Telecom & IT, Manufacturing, Healthcare, Retail Office and Others.
By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands and Others), APAC (China, Japan India, South Korea, Australia & New Zealand, Indonesia, Malaysia, Taiwan and Others), South America (Brazil, Argentina, Chile, Colombia and others), and RoW (Middle East and Africa).
Key Takeaways
- North America dominates the energy management system market owing to increasing investments and government initiatives for energy management. the factors such as rising energy costs, federal policy directives, stringent regulations concerning greenhouse gas emissions, and growing awareness about the benefits of automation, are the major factors driving the EMS market in the U.S.
- Growing trend for smart homes and high adoption of energy management system for smart homes and buildings set to create ample opportunities for the EMS market.
- Adoption of smart grids for energy management in power and energy sector set to boost the energy management system market.
- Rapid advancements in technology such as IoT, AI have further led to greater insights into energy procurement and energy usage and help in gaining competitive advantage, increase productivity at a reduced energy cost.
Type - Segment Analysis
Building energy management system segment held the largest share in the energy management system market in 2023. Building management systems are generally used to automate all services and functions within the building, which include energy management. Building energy management system connects building components with a central computer to enable the control of different variables and parameters within the building. In 2024, Honeywell introduced Advance Control for Buildings, an innovative building management system leveraging existing wiring, empowering managers to enhance building efficiency and occupant experience while advancing energy management objectives. Growing research and development activities of energy management for buildings in developing countries set to create opportunities for building energy management system.
Application - Segment Analysis
The power and energy sector are growing at a highest CAGR of 15.5% in the forecast period. The process of electricity generation undergoes various transformations due to the little presence of primary energy, which is directly convertible into electricity. This requires a high amount of energy that rises the consumption, thereby increasing the need for EMS. The demand for electricity in the non-residential sector has been rising over the last few years owing to new entrants in the manufacturing industry, increasing production activity from various industries such as chemical, automotive, and electronics which is expected to propel the market growth. High adoption of smart grids in utility sector is driving the market as they act as an electric power distribution system to share information between energy providers and utility consumers by using technology such as smart meters. With this system, it is possible to introduce renewable energy in large quantities and utilize the energy efficiently, thereby fueling the energy management system market.
Geography - Segment Analysis
North America dominated the Energy Management System market share with more than 35%, followed by Europe and APAC. The factors such as rising energy costs, federal policy directives, stringent regulations concerning greenhouse gas emissions, and growing awareness about the benefits of automation, are the major factors driving the EMS market in the U.S. The evolution of new concepts such as IoT, artificial intelligence and major technological contributions, are further fueling the demand for these EMS in North America. These technologies help in improving the efficiency of U.S. buildings and help American consumers and businesses in saving energy and money on their utility bills. High investments for energy management systems in smart buildings and smart grids set to drive EMS market in North American region during forecast period.
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Drivers – Energy Management System Market
- Growing trend of smart buildings
Smart home technology help communities and become more energy efficient. Trend toward smart homes have been driving the energy management system. EMS is able to collect and process big data into useful analytics. Researchers are focusing towards EMS in order to help smart home owners and to reduce energy consumption, while improving the effectiveness of the power grid. An EMS helps electric utility grid operators in monitoring and optimizing energy transmission. However, current systems are unable to collect enough data to create energy use comparisons between a large number of households. Furthermore, smart home technologies are not interoperable with today’s EMS. As more homeowners invest in devices that are network-connected to control functions like lighting, temperature, security and entertainment systems. Hence there are ample opportunities for EMS to gather much more data about a home’s energy use and helps in creating safer home energy management system. Hence these kinds of developments propel the market in the forecast period.
- Integration of IoT Technology with energy management devices
These IoT energy devices such as smart meters and other energy devices connect consumers directly to the power distribution station, allowing for a two-way communication. With this, during real time, they can send critical operation information to the utility agencies. This helps utility agencies in easily addressing of any performance issues, including outages, and helps in reducing the system downtime. Smart grids that connect in a single network create smart energy grids. This signifies another way the internet of things can be used in energy management. For instance, Duke Energy, which is a Florida-based company, has introduced a self-healing grid system which can automatically re-calibrate itself after a power outage and as a result minimize the downtime. Tennessee was one of the first cities to implement smart grid technology in the U.S. This has resulted in over 50% shorter outages and helped the community in saving over $1.4 million in operating costs during a single storm. Integration of IoT technology is set to fuel energy management system market.
Challenges – Energy Management System Market
Lack of skilled personnel, lack of awareness among stakeholders, lack of finance and non-standardized guidelines have served as main challenge hindering the growth of the market.
As energy costs continue to rise and the levels of statutory obligations related to emissions and climate change increase, effective energy management has become a challenge for many organizations. One of the most common challenges that many companies face is choosing the right energy management system to support their business objectives. Many companies depend on their energy third party people to intervene and find an appropriate solution for them due to lack of skilled personnel, lack of awareness and guidelines.
Market Landscape
Technology launches, and R&D activities are key strategies adopted by players in the Energy Management System market. In 2023, the market of Energy Management System industry outlook has been consolidated by the top five players accounting for 52% of the share. Energy Management System top 10 companies include Eaton Corporation, Honeywell International Inc., Siemens, Schneider Electric, Emerson Electric Co, C3.ai, Inc., Delta Electronics, Inc, General Electric Company, Operation Technology, Inc., and DEXMA among others.
Technology Launches
- In March 2023, Sumitomo Electric Industries, Ltd. introduces an energy management solution, leveraging SEMSA™ technology, facilitating versatile usage of grid storage batteries to address supply-demand balance challenges amidst renewable energy expansion, offering multiple revenue streams in power trading markets.
- In November 2022, ABB introduced ABB Ability™ OPTIMAX®, an energy management system, to the green hydrogen market, aiming to reduce production costs by providing real-time visibility of energy consumption and optimizing plant processes for efficiency and sustainability.
LIST OF TABLES
1.Global Asia-Pacific Energy Management System Market By Component Market 2023-2030 ($M)1.1 Controller Market 2023-2030 ($M) - Global Industry Research
1.2 Software Market 2023-2030 ($M) - Global Industry Research
1.3 Sensor Market 2023-2030 ($M) - Global Industry Research
1.3.1 Key Market Trend Market 2023-2030 ($M)
1.3.2 Competitive Scenario Market 2023-2030 ($M)
1.3.3 Key Growth Factor And Opportunity Market 2023-2030 ($M)
2.Global Asia-Pacific Energy Management System Market By Type Market 2023-2030 ($M)
2.1 Bems Market 2023-2030 ($M) - Global Industry Research
2.2 Hem Market 2023-2030 ($M) - Global Industry Research
2.3 Iems Market 2023-2030 ($M) - Global Industry Research
3.Global Asia-Pacific Energy Management System Market By End User Market 2023-2030 ($M)
3.1 Commercial Market 2023-2030 ($M) - Global Industry Research
3.2 Residential Market 2023-2030 ($M) - Global Industry Research
4.Global Asia-Pacific Energy Management System Market By Vertical Market 2023-2030 ($M)
4.1 Telecom It Market 2023-2030 ($M) - Global Industry Research
4.2 Healthcare Market 2023-2030 ($M) - Global Industry Research
4.3 Power Energy Market 2023-2030 ($M) - Global Industry Research
4.4 Manufacturing Market 2023-2030 ($M) - Global Industry Research
4.5 Retail Office Market 2023-2030 ($M) - Global Industry Research
5.Global Asia-Pacific Energy Management System Market By Component Market 2023-2030 (Volume/Units)
5.1 Controller Market 2023-2030 (Volume/Units) - Global Industry Research
5.2 Software Market 2023-2030 (Volume/Units) - Global Industry Research
5.3 Sensor Market 2023-2030 (Volume/Units) - Global Industry Research
5.3.1 Key Market Trend Market 2023-2030 (Volume/Units)
5.3.2 Competitive Scenario Market 2023-2030 (Volume/Units)
5.3.3 Key Growth Factor And Opportunity Market 2023-2030 (Volume/Units)
6.Global Asia-Pacific Energy Management System Market By Type Market 2023-2030 (Volume/Units)
6.1 Bems Market 2023-2030 (Volume/Units) - Global Industry Research
6.2 Hem Market 2023-2030 (Volume/Units) - Global Industry Research
6.3 Iems Market 2023-2030 (Volume/Units) - Global Industry Research
7.Global Asia-Pacific Energy Management System Market By End User Market 2023-2030 (Volume/Units)
7.1 Commercial Market 2023-2030 (Volume/Units) - Global Industry Research
7.2 Residential Market 2023-2030 (Volume/Units) - Global Industry Research
8.Global Asia-Pacific Energy Management System Market By Vertical Market 2023-2030 (Volume/Units)
8.1 Telecom It Market 2023-2030 (Volume/Units) - Global Industry Research
8.2 Healthcare Market 2023-2030 (Volume/Units) - Global Industry Research
8.3 Power Energy Market 2023-2030 (Volume/Units) - Global Industry Research
8.4 Manufacturing Market 2023-2030 (Volume/Units) - Global Industry Research
8.5 Retail Office Market 2023-2030 (Volume/Units) - Global Industry Research
9.North America Asia-Pacific Energy Management System Market By Component Market 2023-2030 ($M)
9.1 Controller Market 2023-2030 ($M) - Regional Industry Research
9.2 Software Market 2023-2030 ($M) - Regional Industry Research
9.3 Sensor Market 2023-2030 ($M) - Regional Industry Research
9.3.1 Key Market Trend Market 2023-2030 ($M)
9.3.2 Competitive Scenario Market 2023-2030 ($M)
9.3.3 Key Growth Factor And Opportunity Market 2023-2030 ($M)
10.North America Asia-Pacific Energy Management System Market By Type Market 2023-2030 ($M)
10.1 Bems Market 2023-2030 ($M) - Regional Industry Research
10.2 Hem Market 2023-2030 ($M) - Regional Industry Research
10.3 Iems Market 2023-2030 ($M) - Regional Industry Research
11.North America Asia-Pacific Energy Management System Market By End User Market 2023-2030 ($M)
11.1 Commercial Market 2023-2030 ($M) - Regional Industry Research
11.2 Residential Market 2023-2030 ($M) - Regional Industry Research
12.North America Asia-Pacific Energy Management System Market By Vertical Market 2023-2030 ($M)
12.1 Telecom It Market 2023-2030 ($M) - Regional Industry Research
12.2 Healthcare Market 2023-2030 ($M) - Regional Industry Research
12.3 Power Energy Market 2023-2030 ($M) - Regional Industry Research
12.4 Manufacturing Market 2023-2030 ($M) - Regional Industry Research
12.5 Retail Office Market 2023-2030 ($M) - Regional Industry Research
13.South America Asia-Pacific Energy Management System Market By Component Market 2023-2030 ($M)
13.1 Controller Market 2023-2030 ($M) - Regional Industry Research
13.2 Software Market 2023-2030 ($M) - Regional Industry Research
13.3 Sensor Market 2023-2030 ($M) - Regional Industry Research
13.3.1 Key Market Trend Market 2023-2030 ($M)
13.3.2 Competitive Scenario Market 2023-2030 ($M)
13.3.3 Key Growth Factor And Opportunity Market 2023-2030 ($M)
14.South America Asia-Pacific Energy Management System Market By Type Market 2023-2030 ($M)
14.1 Bems Market 2023-2030 ($M) - Regional Industry Research
14.2 Hem Market 2023-2030 ($M) - Regional Industry Research
14.3 Iems Market 2023-2030 ($M) - Regional Industry Research
15.South America Asia-Pacific Energy Management System Market By End User Market 2023-2030 ($M)
15.1 Commercial Market 2023-2030 ($M) - Regional Industry Research
15.2 Residential Market 2023-2030 ($M) - Regional Industry Research
16.South America Asia-Pacific Energy Management System Market By Vertical Market 2023-2030 ($M)
16.1 Telecom It Market 2023-2030 ($M) - Regional Industry Research
16.2 Healthcare Market 2023-2030 ($M) - Regional Industry Research
16.3 Power Energy Market 2023-2030 ($M) - Regional Industry Research
16.4 Manufacturing Market 2023-2030 ($M) - Regional Industry Research
16.5 Retail Office Market 2023-2030 ($M) - Regional Industry Research
17.Europe Asia-Pacific Energy Management System Market By Component Market 2023-2030 ($M)
17.1 Controller Market 2023-2030 ($M) - Regional Industry Research
17.2 Software Market 2023-2030 ($M) - Regional Industry Research
17.3 Sensor Market 2023-2030 ($M) - Regional Industry Research
17.3.1 Key Market Trend Market 2023-2030 ($M)
17.3.2 Competitive Scenario Market 2023-2030 ($M)
17.3.3 Key Growth Factor And Opportunity Market 2023-2030 ($M)
18.Europe Asia-Pacific Energy Management System Market By Type Market 2023-2030 ($M)
18.1 Bems Market 2023-2030 ($M) - Regional Industry Research
18.2 Hem Market 2023-2030 ($M) - Regional Industry Research
18.3 Iems Market 2023-2030 ($M) - Regional Industry Research
19.Europe Asia-Pacific Energy Management System Market By End User Market 2023-2030 ($M)
19.1 Commercial Market 2023-2030 ($M) - Regional Industry Research
19.2 Residential Market 2023-2030 ($M) - Regional Industry Research
20.Europe Asia-Pacific Energy Management System Market By Vertical Market 2023-2030 ($M)
20.1 Telecom It Market 2023-2030 ($M) - Regional Industry Research
20.2 Healthcare Market 2023-2030 ($M) - Regional Industry Research
20.3 Power Energy Market 2023-2030 ($M) - Regional Industry Research
20.4 Manufacturing Market 2023-2030 ($M) - Regional Industry Research
20.5 Retail Office Market 2023-2030 ($M) - Regional Industry Research
21.APAC Asia-Pacific Energy Management System Market By Component Market 2023-2030 ($M)
21.1 Controller Market 2023-2030 ($M) - Regional Industry Research
21.2 Software Market 2023-2030 ($M) - Regional Industry Research
21.3 Sensor Market 2023-2030 ($M) - Regional Industry Research
21.3.1 Key Market Trend Market 2023-2030 ($M)
21.3.2 Competitive Scenario Market 2023-2030 ($M)
21.3.3 Key Growth Factor And Opportunity Market 2023-2030 ($M)
22.APAC Asia-Pacific Energy Management System Market By Type Market 2023-2030 ($M)
22.1 Bems Market 2023-2030 ($M) - Regional Industry Research
22.2 Hem Market 2023-2030 ($M) - Regional Industry Research
22.3 Iems Market 2023-2030 ($M) - Regional Industry Research
23.APAC Asia-Pacific Energy Management System Market By End User Market 2023-2030 ($M)
23.1 Commercial Market 2023-2030 ($M) - Regional Industry Research
23.2 Residential Market 2023-2030 ($M) - Regional Industry Research
24.APAC Asia-Pacific Energy Management System Market By Vertical Market 2023-2030 ($M)
24.1 Telecom It Market 2023-2030 ($M) - Regional Industry Research
24.2 Healthcare Market 2023-2030 ($M) - Regional Industry Research
24.3 Power Energy Market 2023-2030 ($M) - Regional Industry Research
24.4 Manufacturing Market 2023-2030 ($M) - Regional Industry Research
24.5 Retail Office Market 2023-2030 ($M) - Regional Industry Research
25.MENA Asia-Pacific Energy Management System Market By Component Market 2023-2030 ($M)
25.1 Controller Market 2023-2030 ($M) - Regional Industry Research
25.2 Software Market 2023-2030 ($M) - Regional Industry Research
25.3 Sensor Market 2023-2030 ($M) - Regional Industry Research
25.3.1 Key Market Trend Market 2023-2030 ($M)
25.3.2 Competitive Scenario Market 2023-2030 ($M)
25.3.3 Key Growth Factor And Opportunity Market 2023-2030 ($M)
26.MENA Asia-Pacific Energy Management System Market By Type Market 2023-2030 ($M)
26.1 Bems Market 2023-2030 ($M) - Regional Industry Research
26.2 Hem Market 2023-2030 ($M) - Regional Industry Research
26.3 Iems Market 2023-2030 ($M) - Regional Industry Research
27.MENA Asia-Pacific Energy Management System Market By End User Market 2023-2030 ($M)
27.1 Commercial Market 2023-2030 ($M) - Regional Industry Research
27.2 Residential Market 2023-2030 ($M) - Regional Industry Research
28.MENA Asia-Pacific Energy Management System Market By Vertical Market 2023-2030 ($M)
28.1 Telecom It Market 2023-2030 ($M) - Regional Industry Research
28.2 Healthcare Market 2023-2030 ($M) - Regional Industry Research
28.3 Power Energy Market 2023-2030 ($M) - Regional Industry Research
28.4 Manufacturing Market 2023-2030 ($M) - Regional Industry Research
28.5 Retail Office Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Asia-Pacific Energy Management System Market Revenue, 2023-2030 ($M)2.Canada Asia-Pacific Energy Management System Market Revenue, 2023-2030 ($M)
3.Mexico Asia-Pacific Energy Management System Market Revenue, 2023-2030 ($M)
4.Brazil Asia-Pacific Energy Management System Market Revenue, 2023-2030 ($M)
5.Argentina Asia-Pacific Energy Management System Market Revenue, 2023-2030 ($M)
6.Peru Asia-Pacific Energy Management System Market Revenue, 2023-2030 ($M)
7.Colombia Asia-Pacific Energy Management System Market Revenue, 2023-2030 ($M)
8.Chile Asia-Pacific Energy Management System Market Revenue, 2023-2030 ($M)
9.Rest of South America Asia-Pacific Energy Management System Market Revenue, 2023-2030 ($M)
10.UK Asia-Pacific Energy Management System Market Revenue, 2023-2030 ($M)
11.Germany Asia-Pacific Energy Management System Market Revenue, 2023-2030 ($M)
12.France Asia-Pacific Energy Management System Market Revenue, 2023-2030 ($M)
13.Italy Asia-Pacific Energy Management System Market Revenue, 2023-2030 ($M)
14.Spain Asia-Pacific Energy Management System Market Revenue, 2023-2030 ($M)
15.Rest of Europe Asia-Pacific Energy Management System Market Revenue, 2023-2030 ($M)
16.China Asia-Pacific Energy Management System Market Revenue, 2023-2030 ($M)
17.India Asia-Pacific Energy Management System Market Revenue, 2023-2030 ($M)
18.Japan Asia-Pacific Energy Management System Market Revenue, 2023-2030 ($M)
19.South Korea Asia-Pacific Energy Management System Market Revenue, 2023-2030 ($M)
20.South Africa Asia-Pacific Energy Management System Market Revenue, 2023-2030 ($M)
21.North America Asia-Pacific Energy Management System By Application
22.South America Asia-Pacific Energy Management System By Application
23.Europe Asia-Pacific Energy Management System By Application
24.APAC Asia-Pacific Energy Management System By Application
25.MENA Asia-Pacific Energy Management System By Application
26.Azbil Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Daikin Industry, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Schneider Electricals, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Siemens Ag, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Johnson Control, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Honeywell International Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.General Electric Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.C3 Energy, Sales /Revenue, 2015-2018 ($Mn/$Bn)