North America Energy Management Systems Market Size - By Service (IEMS, BEMS, HEMS), By Component (Metering & Field Equipment, Hardware, Software, Networking Device, Control Systems), By Application (IT, Manufacturing, Enterprise, Healthcare), & Forecast, 2024 - 2032

North America Energy Management Systems Market Size

North America Energy Management Systems Market was valued at USD 10.5 billion in 2023 and is anticipated to grow at a CAGR of over 5.6% from 2024 to 2032, owing to the government regulations and initiatives that are targeting carbon emission reduction. Software solutions play a crucial role in helping businesses comply with regulations and achieve their sustainability targets by providing accurate reporting, energy usage insights, and optimization recommendations. Increasing awareness among businesses and consumers about the significance of energy efficiency and sustainability is further bolstering the demand for these systems.
 

Moreover, the advancement of technology, such as the incorporation of IoT devices and artificial intelligence into energy management systems, is augmenting their functionalities and rendering them more accessible and user-friendly. Companies are innovating their solutions as part of their business expansion strategies. For example, in November 2022, Schneider Electric confirmed its comprehensive range of home energy management products, wiser gateways and smart plugs to receive Matter certification. Therefore, along with the growing adoption of renewable energy sources, this is witnessing crucial opportunities for the expansion of the energy management systems market across various sectors.

North America Energy Management Systems Market Trends

Stringent government regulations aimed at reducing carbon emissions are compelling industries and organizations to adopt energy management solutions. Additionally, increasing awareness among businesses and consumers about the importance of energy efficiency and sustainability is fueling demand. Technological advancements, such as the integration of IoT devices and artificial intelligence, are enhancing the capabilities and accessibility of these systems. Furthermore, the rising adoption of renewable energy sources is creating opportunities for the expansion of the market.
 

Growing focus on sustainability and environmental responsibility are leading to a rise in demand for energy management systems that facilitate energy conservation. Moreover, regulatory requirements and government initiatives are promoting energy efficiency and reducing greenhouse gas emissions, driving market growth, as organizations seek to comply with regulations and capitalize on available incentives. Furthermore, advancements in and machine learning are also enabling predictive and prescriptive analytics capabilities, empowering businesses to optimize energy usage and make data-driven decisions.

North America Energy Management Systems Market Analysis

Based on Service, the IEMS segment is anticipated to exceed USD 9.1 billion by 2032 due to the increasing focus on energy efficiency and sustainability initiatives across diverse industries. These initiatives provide holistic solutions for monitoring, analyzing, and optimizing energy usage. Residential, commercial, and industrial sectors are progressively embracing these systems to adhere to strict regulations, lower operational expenses, and diminish carbon footprints.
 

Based on component, the software segment is likely to grow with CAGR of more than 5.8% through 2032 owing to increasing demand for energy efficiency solutions driven by sustainability initiatives and regulatory pressures. Advancements in technology, particularly in IoT, AI, and big data analytics, are enabling more sophisticated energy management solutions that offer real-time monitoring, predictive maintenance, and intelligent decision-making capabilities. Additionally, the potential for substantial cost savings, integration with existing systems, and the ability to comply with regulations further propel the adoption of energy management software across various industry.
 

The U.S. across the North America energy management systems market is poised to surpass USD 13.7 billion by 2032 due to heightened focus on sustainability and energy efficiency initiatives driven by both government regulations and corporate responsibility objectives. Additionally, advancements in technology, particularly in software solutions, are enabling more sophisticated energy management strategies that offer real-time monitoring, predictive analytics, and automation capabilities. Similarly, in Canada, the potential for substantial cost savings, improved operational efficiency, and enhanced competitiveness further incentivize businesses across various sectors to invest in energy management systems.
 

North America Energy Management Systems Market Share

Honeywell, Siemens, and Schneider Electric are prominent players in the North America energy management systems industry, leveraging their extensive expertise in industrial automation and smart technology to maintain a competitive advantage. They excel in offering comprehensive solutions tailored to the specific requirements of commercial customers, which encompass advanced metering functionalities, robust data analytics, and seamless integration with existing infrastructure. This strategic approach positions them as leaders in the market, capable of addressing diverse energy management challenges effectively.
 

North America Energy Management Systems Market Companies

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

North America Energy Management Systems Industry News

• In November 2022, ABB has offered OPTIMAX, to the hydrogen market, with the purpose of minimizing operational cost by getting better visibility of power consumption across multiple domains. This system offers better support throughout the entire lifecycle of a hydrogen plant.
   
• In May 2022, Johnson Controls has acquired Asset Plus, that is committed to zero-carbon solutions and energy reduction. Asset Plus has consistently delivered savings for a variety of organizations including the NHS, and multiple institution.
   

This North America energy management systems market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2021 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

Market, By Application

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

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

• U.S.
• Canada