Dublin, Sept. 18, 2024 (GLOBE NEWSWIRE) -- The "Energy Management Systems Market by Component (Software, Hardware, Services), Type (HEMS, BEMS, IEMS), Deployment (on-Premises and Cloud-based), End-use Industry, & Region - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global energy management system market is on a trajectory to reach USD 84.34 billion by 2029, a notable increase from the estimated USD 44.19 billion in 2024, with a steady CAGR of 13.8% spanning the period from 2024 to 2029.
The Energy Management System (EMS) market in Europe is a dynamic and rapidly evolving sector, strongly supported by the European Union's (EU) regulatory frameworks and substantial investments aimed at promoting energy efficiency and sustainability. The EU's commitment to reducing greenhouse gas emissions and enhancing energy efficiency has positioned the region as a global leader in the adoption and advancement of EMS technologies.
According to the European Commission, the EU's energy policies, particularly the European Green Deal and the Energy Efficiency Directive, play a pivotal role in driving the EMS market. These policies set ambitious targets for energy savings and emissions reductions, which have led to widespread adoption of energy management systems across various sectors. The Energy Efficiency Directive, for instance, mandates member states to implement energy efficiency measures, including the use of EMS, to achieve a 32.5% improvement in energy efficiency by 2030.
Additionally, individual European countries have implemented national strategies aligned with the EU's energy efficiency goals. For example, Germany's National Action Plan on Energy Efficiency (NAPE) promotes the adoption of EMS in industrial and commercial sectors, providing financial incentives and technical support to businesses that implement these systems. Similarly, France's Energy Transition for Green Growth Act emphasizes the use of EMS to achieve energy savings and reduce carbon emissions across various industries.
Research Coverage
This report provides a comprehensive analysis of the global Energy Management System (EMS) market, segmented by Component (Software, Hardware, and Services), Type (Home Energy Management System, Building Energy Management System, and Industrial Energy Management System), Deployment (On-Premises and Cloud-Based), End-use Industry (Power and Energy, Telecom and IT, Manufacturing, Residential and Commercial, Food and Beverages, and Others), and Region (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers detailed insights into market size, growth drivers, trends, opportunities, and challenges, supported by qualitative and quantitative data.
It also includes an in-depth competitive landscape analysis, highlighting key players, market share, recent developments, and strategic initiatives. Additionally, the report provides future market forecasts, helping stakeholders identify potential growth areas and make informed business decisions.
The energy management systems market is dominated by a few major players that have a wide regional presence. The leading players in the Energy management systems market are ABB (Switzerland), Schneider Electric (France), Siemens (Germany), General Electric Company (US), and Emerson (US).
Market Trends and Insights
- On-premise: The largest segment by deployment in Energy management systems market
- Software: The fastest- growing segment by component of the Energy management systems market
- Industrial Energy Management System: The largest segment by type in Energy management systems market
- Europe: The second largest region in Energy management systems market
Key Attributes
| Report Attribute | Details |
| No. of Pages | 308 |
| Forecast Period | 2024-2029 |
| Estimated Market Value (USD) in 2024 | $44.19 Billion |
| Forecasted Market Value (USD) by 2029 | $84.34 Billion |
| Compound Annual Growth Rate | 13.8% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- Rise in Energy Costs and Shift to Renewable Energy
- Increase in Adoption of Smart Grid Technologies and Smart Meters
- Government Regulations and Incentives Driving Ems Adoption
- Restraints
- High Initial Costs and Capital Investment
- Data Privacy and Security Concerns
- Opportunities
- Emerging Markets and Rapid Industrialization
- Fiscal Incentives and Tax Policies for Carbon Reduction and Energy Efficiency
- Challenges
- Awareness Deficit Among SMEs
- Diverse Industry Needs
Topics Analyzed in the Report
- Trends/Disruptions Impacting Customer Business
- Ecosystem and Market Map
- Pricing Analysis
- Investment and Funding Scenario
- Supply Chain Analysis
- Technology Analysis
- Key Conferences and Events, 2022-2026
- Tariffs and Regulations
- Trade Analysis
- Patent Analysis
- Case Study Analysis
- Impact of Generative AI/AI in Energy Management System Market
- Macroeconomic Outlook for Energy Management System Market
Companies Featured in the Report
- ABB
- Schneider Electric
- Siemens
- General Electric Company
- Emerson Electric Co.
- Honeywell International Inc.
- Eaton
- Mitsubishi Electric Corporation
- IBM
- Hitachi Ltd.
- Rockwell Automation, Inc.
- Yokogawa Electric Corporation
- Delta Electronics, Inc.
- Danfoss
- Verdigris Technologies, Inc.
- Panasonic Industry Co. Ltd.
- Wipro
- LG Electronics
- Johnson Controls Inc.
- Agregio Solutions
- Enel X
- Neptune India
- Weidmuller
- Energy Management Systems, Inc.
- Distech Controls
For more information about this report visit https://www.researchandmarkets.com/r/lza6w3
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