Energy Management System Market Size [2022-2029] Exhibitions

Pune, India, September 23, 2022 (GLOBE NEWSWIRE) – Fortune Business Insights has published the latest forecast for the energy management system market in its report titled “Energy Management System Market Forecast, 2022-2029”. According to the report, the global market size was US$ 24.73 billion in 2021. The global energy management system market size is expected to grow from US$ 27.31 billion in 2022 to US$ 60.54 billion in 2029 with a growth rate A compound annual rate of 12.0% in the forecast period, 2022-2029.

Energy management system is adopted in many industries such as manufacturing, automotive, building automation, pharmaceutical, energy, utilities, oil and gas, among others. The market is expected to rise due to various global energy concerns such as optimizing renewable energy sources, managing greenhouse gas emissions, energy consumption and reducing carbon footprint.

Request a copy of the research report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/energy-management-system-market-101167

Industry Developments:

  • January 2022: Schneider Electric has acquired Zygo, a provider of climate technology platform. This acquisition will advance Schneider Electric’s suite of clean energy solutions and services. It will also enhance the company’s ambitions in the digital transformation of energy.
  • June 2021Honeywell International Inc. Battery Energy Storage System (BESS) platform. It integrates Honeywell’s distributed energy resource management, analytics, asset monitoring, and supervisory control functions to allow organizations to optimize overall energy use.

Scope and segmentation report

Report coverage details
prediction period 2022 to 2029
Forecast period from 2022 to 2029 CAGR 12.0%
2029 Value Drop 60.54 billion US dollars
base year 2021
Energy Management System Market Size in 2021 24.73 billion US dollars
Historical data about 2018 to 2020
number of pages 160
Sectors covered Writes; end user
Growth Drivers of Energy Management System Market Favorable government policies for the sustainable use of energy to increase demand
Increasing the installation of smart grids and smart meters to boost growth

The impact of COVID-19:

Low electricity consumption has hampered market growth during the pandemic

The COVID-19 pandemic has affected many industries and has had a significant impact on industrial activities, including manufacturing and production units of major players. Strict government-imposed restrictions have affected the company’s operational workforce to maintain social distancing norms. The sudden closure of companies due to the revised operating regulations has affected the rate of revenue generation and the rate of sales of the major players in the market. These factors have hampered market growth during the pandemic.

Click here for the short- and long-term impact of COVID-19 on this market: https://www.fortunebusinessinsights.com/industry-reports/energy-management-system-market-101167

Competitive scene:

Major players cooperate with supporting companies to expand their businesses

The major players in the market focus on forming strategic alliances, mergers and partnerships to gain higher market share and expand their business globally. Also, implementing innovative product development and redevelopment strategies allows key players to enhance their product portfolio. Moreover, cooperation with supporting companies allows major players to explore a new segmented market to offer their services across the globe.

Report coverage:

The report provides complete information regarding the market development and progress in the industry. The report also highlights the impact of the COVID-19 pandemic on the market growth and global expansion of the business. The drivers and constraints affecting market development and potential growth scope are explained in more detail in this report. Moreover, the key players operating in the market are highlighted along with their business growth strategies. Key industry developments and new launches introduced by the major players are discussed in more detail in this report.

Drivers and restrictions:

Increasing digitization in EMS to drive growth

The global energy management system is expected to experience significant growth during the forecast period due to the increased installation of smart grids and smart meters in developed and developing countries. Also, increased investment by the government is expected to drive the market. In the coming years, appropriate government initiatives and revised policies ensure the growth of the energy management system market. The digitization of the environmental management system contributes to the development of the market in various sectors due to the increased demand for the service.

However, high implementation costs and lack of awareness may hinder market growth.

Do you have any questions? Ask our experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/energy-management-system-market-101167

Regional insights:

North America dominates the market due to the rise of digitization

North America has the highest market share for global energy management systems during the forecast period due to the increased adoption of these systems. The presence of major market players in the region also contributes to the growth of the market.

Europe has the second highest market share due to the increasing demand for smart grid solutions and smart meters in various industries. Moreover, increased awareness of energy efficiency is expected to drive the market.

Slides:

Oil and gas sector to drive growth during forecast period

By type, the market is divided into systems and services. Moreover, the system is divided into home energy management and industrial and building energy management systems. Further, the services are categorized into monitoring, control, implementation, integration, maintenance, consulting and training services.

Based on the end users, the market is segmented into pharmaceutical, energy, utilities, automotive, oil and gas, building automation, manufacturing, and others.

Finally, by region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

List of key players mentioned in the report:

  • General Electric Corporation (USA)
  • IBM Corporation (USA)
  • Honeywell International Corporation (USA)
  • Rockwell Automation Inc. (United State)
  • Schneider Electric SE (France)
  • SAP SE (Germany)
  • Siemens (Germany)
  • Eaton (Ireland)
  • Mitsubishi Electric Corporation (Japan)
  • Cisco System Inc. (United State)

quick buy – https://www.fortunebusinessinsights.com/checkout-page/101167

Main table of contents:

  • an introduction
    • Definition, by syllable
    • Research method/methodology
    • data sources
  • Executive Summary
  • market dynamics
    • Macro and Micro Economic Indicators
    • Drivers, limitations, opportunities and trends
    • Impact of COVID-19
      • short term effect
      • Long term effect
  • Competition scene
    • Business Strategies Adopted by Major Players
    • Consolidated SWOT Analysis of Key Players
    • Porter’s Five Forces Analysis
    • Global Energy Management System, Market Share Insights and Analysis of Key Players, 2021
  • Estimates and forecasts of the global energy management system market size (quantitative data), by segments, 2018-2029
    • Main results
    • By type (US$)
      • System
        • home energy management system
        • Building Energy Management System
        • industrial energy management system
      • Services
        • Monitor and control
        • Implementation and integration
        • Maintenance work
        • Consulting and training
    • By end user (in US dollars)
      • oil and gas
      • manufacturing
      • Building automation
      • energy facilities
      • the cars
      • pharmaceutical
      • Other (ICT, Hospitality)
    • By Region (US$)
      • North Amarica
      • Europe
      • Asia Pacific
      • Middle East and Africa
      • Latin america
  • North America Energy Management System Market Size and Forecast (Quantitative Data), by Segment, 2018-2029
    • Main results
    • By type (US$)
      • System
        • home energy management system
        • Building Energy Management System
        • industrial energy management system
      • Services
        • Monitor and control
        • Implementation and integration
        • Maintenance work
        • Consulting and training
    • By end user (in US dollars)
      • oil and gas
      • manufacturing
      • Building automation
      • energy facilities
      • the cars
      • pharmaceutical
      • Other (ICT, Hospitality)
    • By country (in US dollars)

Watch the table of contents…!

Instructions:

What is the Energy Management System Market Size?

The market is expected to grow from USD 27.31 billion in 2022 to USD 60.54 billion by 2029, representing a compound annual growth rate of 12.0% during the forecast period.

What is the size of the Energy Management System market in North America?

The North American market reached US$9.23 billion in 2018-2029 and is expected to gain a significant portion of the market share in the coming years.

information about us:

Fortune Business Insights™ delivers expert business analysis and accurate data, helping organizations of all sizes make timely decisions. We design innovative solutions for our clients, helping them meet the unique challenges of their business. Our goal is to empower our clients with comprehensive market intelligence, and to give an accurate overview of the market in which they operate.

call us:

Fortune Business Insights™ Pvt. Ltd.

United States: +1 424253 0390

United Kingdom: +44 2071 939123

Asia Pacific: +91744740 1245

E-mail: [email protected]

%d bloggers like this: