Global Energy Management Systems Market Updates: Expected to Reach $161.9 Billion by 2030

According to a report published by Allied Market Research, the global energy management systems market was valued at $36.2 billion in 2020 and is expected to reach $161.9 billion by 2030, growing at a CAGR of 16.2% from 2021 to 2030. The study analyzes the key strategies, drivers, competition, market dynamics, size, and important investment regions. 

Key Takeaways of the Study: 

• The rising demand for energy efficient solutions among industries worldwide is expected to boost the growth of the industry in the coming years. 
• The growing necessity for sustainable and clean energy management solutions across businesses is anticipated to create lucrative opportunities for the landscape.  
• The integration of IoT and smart sensors has revolutionized energy management systems significantly.  

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Prime Factors Influencing the Industry Growth: 

The global energy management systems market is experiencing prominent growth due to the increasing inclination of industries toward energy efficient solutions. Moreover, fluctuating energy prices owing to the changes in supply and demand, economic conditions, extreme weather, and supply availability are anticipated to increase the demand for energy management systems in the coming years. Furthermore, the rising need for sustainable and clean energy management solutions are predicted to create immense opportunities for the landscape over the estimated period.  

Segmental Overview: 

The global energy management systems market is classified into various segments based on component, end-user, type, and application. Based on component, the solution segment is expected to hold the highest market share because these solutions allow for real-time gathering of key data and energy readings, enabling effective management of energy resources. By end-user, the energy and utilities segment held the maximum market share in 2020, due to the increasing demand for energy management systems in this sector. Moreover, based onon the basis of type, the industrial energy management systems segment is expected to dominate the market share owing to the increasing demand for constant energy supply across various industries to conduct several operations. By application, the commercial segment is predicted to garner a significant market share, attributed to the surging consumption of energy in the commercial sector.  

Regional Analysis: 

The industry is also analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the highest market share in 2020, driven by the growing energy needs and high carbon footprint across the region. Moreover, rapid digitization and increase in data generated by IoT devices are expected to increase the demand for efficient energy management systems in the region.  

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Recent Developments in the Industry: 

Integration of IoT and Smart Sensors:  

The integration of Internet of Things (IoT) devices and smart sensors is revolutionizing energy management systems (EMS). These technologies enable real-time monitoring and control of energy usage, providing granular data that helps optimize energy consumption and improve efficiency. 

Advanced Data Analytics and AI:  

Advanced data analytics and artificial intelligence are playing an important role in enhancing the capabilities of energy management systems. In addition, AI algorithms help predict energy consumption patterns, detect anomalies, and suggest optimization strategies. Machine learning models are also being used to forecast energy demand and supply, leading to better load balancing and energy distribution. 

Distributed Energy Resources (DER) Management:  

The rise of distributed energy resources (DER), such as solar panels, wind turbines, and battery storage systems, is augmenting the development of energy management systems that can effectively manage these decentralized assets. Modern EMS are capable of integrating and optimizing the use of DER to ensure a stable and efficient energy supply. 

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Smart Grid Integration:  

The integration of EMS with smart grids is becoming more prevalent nowadays. Smart grids use digital technology to monitor and manage the production and distribution of electricity. By connecting EMS to smart grids, utilities can respond more dynamically to changes in energy demand and supply, improving reliability and efficiency. 

Competitive Landscape: 

• yokogawa electric corporation 
• Johnson controls international plc,   
• Gridpoint Systems 
• Dexma 
• General Electric Company 
• C3 energy 
• Honeywell International Inc. 
• Schneider Electric 
• Siemens AG 
• Delta electronics 

Important Questions Answered in the Comprehensive Study 

• What are the key technological and market trends shaping the market? 
• Which company accounted for the highest industry share? 
• Which region is expected to drive the landscape in the forecast period? 
• What are the prominent companies operating in the market? 

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.