Energy Management System Market Size – By Component (Metering & Field Equipment, Hardware, Software, Networking Device, Control Systems, Sensors), By Application (Power & Energy, IT, Manufacturing, Enterprise, Healthcare), Service & Forecast, 2024 – 2032

Energy Management System Market Size

Energy Management System Market size was valued at USD 37.8 billion in 2023 and is anticipated to grow at over 6.8% CAGR from 2024 to 2032. An energy management system (EMS) integrates computer-aided tools deployed by operators across electric utility grids with an aim to monitor, optimize, and control, the performance of the generation and transmission infrastructure. The energy scarcity coupled with the demand & supply mismatch accompanied by electricity losses will fuel the need for energy efficiency devices including Energy Management Systems (EMS). Rising concerns related to unplanned power outages coupled with government norms and mandates to conserve electrical energy will drive the market growth.

A substantial influx of digital technologies including Internet of Things (IoT) coupled with rising demand for energy management devices including Programmable Logic Controller (PLC), Supervisory Control and Data Acquisition (SCADA), Outage Management Systems (OMS) and Distribution Management System (DMS) will positively influence the business scenario. The devices enable planning & operation of control methods to optimize the energy production and consumption. They further aid in the effective management by reducing the overall losses & costs associated with energy consumption. The energy optimization is achieved by deploying advanced software and control systems that regulate consumption levels at economical rates.
 

COVID-19 Impact

The government & private players are collaborating to effectively deal with the current situation. The World Economic Forum, through its platform for advanced manufacturing & production, is bringing together supply chain executives, senior operations, and leaders from the government, civil society, and academia to analyze the economic impact of COVID-19 on value chains. Moreover, increasing electricity consumption on account of surging healthcare infrastructure development will drive the implementation of EMS across the globe.
 

Energy Management System Market Trends

Increasing demand for residential establishments coupled with positively outlook toward commercialization & industrialization will drive the market size. Moreover, primary growth is set to originate from non-OECD countries, particularly Asia Pacific. As per the IEA, in 2018, robust economic growth, rising demand for power & slow efficiency gains contributed to 1.9% increase in CO2 emissions. Therefore, rising pollution and stringent ISO 50001 directive with an aim to promote energy efficiency will propel the product penetration over the forecast timeframe.
 

Energy Management System Market Analysis

The BEMS market is expected to exceed USD 27 billion by 2032. Building EMS integrates hardware, software, and ICT technologies & services to manage, control, monitor, and automate building functions that result in energy efficiency management. The growing EMS demand in residential, industrial. and commercial sectors along with rapid urban infrastructural development, specifically in smart buildings, will encourage the product penetration.
 

The U.S. organizations have announced to upsurge the investments in smart building measures that include building controls and system integration at a much greater rate compared to traditional energy efficiency patterns. In addition, around 60% of the global organizations are showcasing interest in investments for energy conservation in 2019.
 

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Hardware systems act as a bridge between the cloud software platform and electrical cabinets. They collect the data locally and then pass the relevant information to the dashboard allowing users to interrogate the live data that is being produced. Decline in the hardware cost along with ongoing technological development and continuous demand for replacement & upgrading will significantly improve the energy management system market demand.
 

Moreover, increasing demand for building automation for occupant comfort, reduction in energy consumption & operating costs, efficient operation of building systems, and improved life cycle of utilities will encourage the demand for control systems in the forecast timeline. Rising standards including ISO 50002 in the building sector are further complementing the product installment.
 

The energy management systems market from power & energy segment is projected to observe around 7% CAGR through 2032. Power monitoring & control software is an essential part of a power monitoring system that helps an organization to capture and analyze power metrics. These systems provide indicators related to the health of electrical equipment including pumps, motors, and transformers in a commercial or industrial space. It helps in reducing nuisance tripping and acts as a safety device. The growing demand for Information and Communication Technologies (ICT) for more efficient power generation, distribution, transmission, and consumption coupled with increasing government standards is driving the product demand across the globe.
 

The Asia Pacific energy management system market is estimated to surge at a CAGR of over 7% between 2023 and 2032. Rising smart building initiatives across countries including South Korea, India, and Indonesia have led to the deployment of cloud-based BEMS platforms and services. Automation and IoT are transforming the industrial & building energy management systems to make them well equipped to improve energy efficiencies along with significant cost reductions. The growing penetration of SCADA platforms coupled with the decreasing costs of the IoT sensors will fuel the growth of the IEMS across the region.
 

Energy Management System Market Share

The key companies operating in energy management system market are

• Emerson Electric Co.
• Dexma Sensors SL
• Telkonet, Inc.
• GridPoint
• Rockwell Automation, Inc.
• SkyFoundry
• Optimum Energy LLC.
• eSight Energy
• Schneider Electric
• Honeywell International Inc.
• International Business Machines Corporation (IBM)
• C3.ai, Inc
• ENGIE Impact
• ABB Limited
• General Electric
• Siemens
• Johnson Controls Inc
• Ingersoll Rand
• Mitsubishi Heavy Industries
• Eaton Corporation
• Toshiba Corporation
• NX Technologies

   

Energy Management System Industry News

• In November 2022, ABB introduced ABB Ability OPTIMAX, energy management system, to the green hydrogen market, with the aim of reducing production costs by providing real-time visibility of energy consumption across operations. The company’s OPTIMAX system offers comprehensive support throughout the entire lifecycle of a hydrogen plant. Along with, during the engineering and design phases to real-time monitoring and visualization during operation, the software enables measurement of bi-directional power flows and carbon dioxide emissions. This data provides operators with valuable insights to optimize energy consumption levels and minimize waste, supporting efficient plant processes.
   
• Moreover, by leveraging OPTIMAX, ABB aims to contribute to the scaling up of green hydrogen production capacity by reducing costs and improving overall energy efficiency.
   
• In May 2022, Johnson Controls has completed the acquisition of Asset Plus, UK’s public sector company which focuses on energy reduction and zero carbon solutions. Asset Plus has a proven track record of delivering sustainability savings for various organizations within the NHS, local authorities, and educational institutions. They provide strategic guidance and project management expertise for implementing energy-efficient measures and retrofitting initiatives in complex-built environments. In addition, these measures are crucial to support companies and organizations to achieve their sustainability goals and make significant progress towards achieving net-zero carbon emissions.
   

This energy management systems market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2019 to 2032, for the following segments:

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Market, By Service

• IEMS
• BEMS
• HEMS

Market, By Component

• Metering & Field Equipment
• Hardware
• Software
• Networking Device
• Control Systems
• Sensors
• Others

Market, By Application

• Power & Energy
• IT
• Manufacturing
• Enterprise
• Healthcare
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • Qatar
  • UAE
  • South Africa
  • Iran
• Latin America
  • Brazil
  • Argentina