The latest research study “Energy Management System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds the global energy management system market size reached US$ 41.66 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 92.13 Billion by 2027, exhibiting a growth rate (CAGR) of 13.40% during 2022-2027.
An energy management system (EMS) is a system of computer-aided tools used by operators of utility grids to control, monitor and optimize the performance of the transmission or generation systems. Some common types of EMS are home, building and industrial. It contains various components, including consumption monitors, a monitoring control app, a smart panel and smart circuits.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. The industry is segmented by size and region. The report provides an analysis of the key trends in each sub-segment of the market, along with forecasts at the global and regional level from 2022-2027. The report also includes competitive landscape of major key players in the industry along with emerging trends in the market.
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Global Energy Management System Market Trends and Drivers:
One of the primary factors driving the market is the extensive usage of energy management systems in residential buildings to control and monitor the energy needs and enhance the overall performance and energy efficiency of the buildings. Additionally, the escalating demand for EMS in enterprises to lower greenhouse gas emissions and reduce operational costs is propelling the market growth.
Besides this, the rising awareness amongst the masses regarding optimization and energy efficiency on account of the increasing energy consumption is another major growth-inducing factor. Moreover, the implementation of several government initiatives emphasizing sustainable energy usage and the rapid development of smart cities are also creating a positive market outlook.
Energy Management System MarketReport Scope
The report has been segmented the market into following categories:
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List of Major Key Players:
The major players in the market are C3.ai Inc., Delta Electronics Inc. (TPE: 2308), Eaton Corporation PLC ETN , Emerson Electric Co., General Electric Company, Honeywell International Inc. HON , Johnson Controls International PLC, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Toshiba Corporation and Yokogawa Electric Corporation.
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