Energy Management Systems Market Size, Share, Growth Report 2030

Energy Management Systems Market

Energy Management Systems Market For Utility, Industrial, Residential, And Enterprise Energy Management And Other Software’s: Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028

Category: Energy & Mining Report Format : PDF Pages: 145 Report Code: ZMR-647 Published Date: Jun-2021 Status : Published

The global Energy Management Systems Market is expected to grow from USD 45.3 Billion in 2020 to USD 118.2 Billion by 2028, at a CAGR of 12.8% in forecast period

Energy Management Systems Market

Market Overview

The global Energy Management Systems Market accounted for USD 45.3 Billion in 2020 and is expected to reach USD 118.2 Billion by 2028, growing at a CAGR of around 12.8% between 2021 and 2028.

Energy management is a procedure of organizing and optimizing energy consumption. Increasing demand for renewable energy and wincing supply of non-renewable natural resources like coal is stimulating the overall market. Moreover, government mandates are insisting for more rigorous sustainability standards. Energy management enables reduction in cost, reduced carbon emission and maximize energy savings. An Energy management system (EnMS) delivers a framework for industrial services to accomplish current energy usage along with categorises prospects to embrace energy-convertible technologies, as well as those that do not inevitably have need of capital investment. Moreover, the conclusion of a successful EnMS is not only to decrease in energy usage and cost, but also an assembly of additional non-energy competence welfares including efficiency, superiority, resource management, declined liability and asset ethics. Statically, a recent IEA study has revealed that certain non-energy associated impressions of enhanced energy efficiency conveyed 2.5 times the assessment of the energy demand drop.

Key players are integrating data analytics to their current energy management systems segments for proficient monitoring of data. Product enhancement, brand recognition and ongoing technological advancements are other factors the players are focusing on.

COVID-19 Impact Analysis

The lockdowns imposed by various countries to contain the spread of Covid-19 has impacted the global operations and supply chain which had a negative consequences on Energy Management Systems Market as the global sales declined. The COVID-19 pandemic signifies not only a global health crisis, but also indicates the commencement of a new era of economic activity, the penalties of which we presently do not fully comprehend. One clear effect of the pandemic is energy consumption patterns and peaking demand on account of which many countries testified a noteworthy reduction in power consumption in both the industrial and commercial sectors, which presented several encounters to electric utilities and system operatives. During the lockdown, curtailment in several activities such as movement, economic activity, manufacturing and construction, plunged the global energy demand. The weakening in energy demand and consumption conveys damage to the energy management system industry. For instance, the COVID-19 pandemic triggered bankrupty of at least 19 energy companies in the U.S. The limitations enforced by numerous nations to contain COVID had stopped the demand and supply causing in a disturbance across the whole supply chain. However, the global markets are gradually opening to their full prospective and theirs a surge in demand.

Request Free Sample

Growth Factors

The global warming and climate change has forced the countries and the people to think over to reduce the carbon footprints. Rising demand for energy conservation and environment safety will strengthen the Energy management systems market. Evolution of smart grid and favourable government mandates are other factors fuelling the market growth.

Increasing awareness in industrial sectors for the efficient utilization of energy consumption is the major component which is driving energy management system market growth. Moreover, increasing alertness about carbon emission management serves as a major factor to fuel the growth of energy management system market over forecast periods. However, lack of awareness of consumer and financial resources are restraining the energy management system market growth. Nonetheless, technological advancement such as software-as-a-service is expected to spur the market growth of energy management system market over the forecast period.

Report Scope:

Request Free Sample

Software Segment Analysis Preview

The global market for Energy Management Systems is divided into two categories: Software and region. The market is segmented into industrial sectors based on the Software, such as Industrial, Utility, Enterprise Energy Management, Residential, and others. The industrial energy management software sector will have the significant growth and will also dominate the market in the forecast period. Energy use in industries is much more related to operational practices than in the residential and commercial sectors. The energy-using systems in industries are designed to support the production practices which may are relatively energy efficient under an initial production scenario. Industry management software is accounted for over 53.5% of the global energy management system market in 2020.

Request Free Sample

Key Market Players & Competitive Landscape

Some of the major players of global Energy Management Systems Market includes General Electric Company, ABB Ltd, Eaton Corporation PLC Cisco Systems, Honeywell International, Inc., International Business Machine Corporation, Schneider Electric SE, Siemens AG, Emerson Process Management, among others.

Request Free Sample

The global Energy Management Systems Market is segmented as follows:

By Software

  • Utility
  • Industrial
  • Residential
  • Enterprise Energy Management
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

Free Analysis

FrequentlyAsked Questions

The global Energy Management Systems Market was valued at USD 45.3 billion in 2020.

The global Energy Management Systems Market is expected to reach USD 118.2 billion by 2028, growing at a CAGR of  12.8% between 2021 to 2028.

Increasing number of smart city projects and rising cost of non-renewable sources are the major factors in the growth of the Energy Management Systems Market.

North America accounted towards a major share of Energy Management Systems Market and will continue to dominate the market over the next few years as the consumption and production is more in North America than the other regions.

Some of the major players of global Energy Management Systems Market includes General Electric Company, ABB Ltd, Eaton Corporation PLC Cisco Systems, Honeywell International, Inc., International Business Machine Corporation, Schneider Electric SE, Siemens AG, Emerson Process Management, among others. 

Choose License Type

  • zion payment modes

HappyClients

Office Address

Contact Us

Zion Market Research
Tel: +1 (302) 444-0166
USA/Canada Toll Free No.+1 (855) 465-4651

Asia Pacific Office

3rd Floor, Mrunal Paradise, Opp Maharaja Hotel, Pimple Gurav, Pune 411061, Maharashtra, India
Phone No +91 7768 006 007, +91 7768 006 008

Contact #

US OFFICE NO +1 (302) 444-0166
US/CAN TOLL FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com

We Are On Social

Industry Press Release

We Accept

We have secured system to process your transaction.

  • payment methods

Business Hours

Our support available to help you 24 hours a day, five days a week.

Monday - Friday: 9AM - 6PM

Saturday - Sunday: Closed