Press release
Smart Energy Management Market Worth $47.64 Billion by 2029- Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Meticulous Research®
According to a new market research report titled, "Smart Energy Management Market by Energy Source (Renewable, Non-Renewable), Offering, Function (Operation, Energy Management, Distribution, Storage, Grid Security), End User (Utility Providers, Consumers) and Geography - Global Forecasts to 2029", the smart energy management market is expected to grow at a CAGR of 15% from 2022 to 2029 to reach $47.64 billion by 2029.Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5255
A smart energy management system (EMS) is a computer-based system used by operators of electric utility grids to monitor, control, and optimize the performance of the generation or transmission system. The system is designed to reduce energy consumption, improve the utilization of the system, increase reliability, & predict electrical system performance as well as optimize energy usage to reduce cost. Over the past two decades, energy management systems have emerged as a proven best practice methodology to ensure sustainable energy efficiency and improve performance across industries. Most industries that have implemented an EMS have achieved two to three times the annual energy savings achieved by industries without an EMS.
Rising energy demand and price volatility, increasing awareness about carbon footprint management, and growing inclination towards efficient energy management are the major factors driving the market growth. In addition, increasing investment in smart city projects and rising government investment in the modernization of aging infrastructure are expected to offer prominent growth opportunities for the growth of this market. However, the high cost associated with the replacement of existing infrastructure is expected to restrain the growth of this market. In addition, rising privacy & security concerns are also challenging the growth of the market.
Rising Energy Demand and Price Volatility to Drive the Smart Energy Management Market Growth
Global energy demand is increasing due to industrial activities and advances in developing and developed countries. According to the International Energy Agency, in 2021, global electricity demand surged, creating strains in major markets and pushing prices to unprecedented levels. After a drop in 2020, global electricity demand grew by 6% in 2021.
In addition, rising energy prices across countries is expected to provide opportunities for players operating in this market. For instance, electricity prices in European markets more than tripled in 2021 compared to 2020. The global surge in demand for energy could spark another three years of market volatility and record power plant pollution. Navigating this next normal will be a key challenge for utilities, traders, and large power consumers. Controlling and reducing the amount of energy use is important because it helps to reduce costs, risks, and carbon emissions. Proper utilization of smart energy management systems will help organizations of all sizes to manage their energy use sustainably, reduce price volatility, and meet growing energy demand. Thus, due to rising energy demand and price volatility, investment in low-carbon energy technologies and robust, smart electricity grids is increasing, which is expected to drive the SEM market.
Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5255
To provide efficient analysis, Meticulous Research® has segmented this market based on energy source, offering, function, end user, and geography.
Based on energy source, the smart energy management market is broadly segmented into renewable and non-renewable/conventional. In 2022, the non-renewable/conventional segment is estimated to account for the largest share of the overall smart energy management market and is expected to grow at the highest CAGR during the forecast period. Factors such as increasing energy consumption across different end-use industries and rising adoption of energy management systems to reduce greenhouse gas emissions are expected to drive market growth.
Based on offering, the smart energy management market is segmented into solutions, software, and consulting & services. In 2022, the solutions segment is estimated to account for the largest share of the overall smart energy management market. Furthermore, the software segment is expected to grow at the highest CAGR during the forecast period. The segment's growth is attributed to the rising need to monitor energy system usage in facilities, saving businesses money on energy costs.
Quick Buy - "Smart Energy Management Market by Energy Source (Renewable, Non-Renewable), Offering, Function (Operation, Energy Management, Distribution, Storage, Grid Security), End User (Utility Providers, Consumers) and Geography - Global Forecasts to 2029" Research Report: https://www.meticulousresearch.com/Checkout/26735500
Based on function, the smart energy management market is segmented into grid operation, renewable energy management, distributed energy management, energy storage, and grid security/cybersecurity. In 2022, the grid operation segment is estimated to account for the largest share of the overall smart energy management market and is expected to grow at the highest CAGR during the forecast period. The large share of this segment is attributed to the supportive regulatory framework of governments worldwide to promote the deployment of smart grids and ongoing smart city projects in developing countries.
Based on end user, the smart energy management market is segmented into energy utility providers and consumers. The consumers segment is further classified into residential, commercial, and industrial. The industrial segment is classified into manufacturing, construction, telecom & IT, government & public sector, healthcare, and other industrial end-users. In 2022, the consumers segment is expected to command the largest share of the global smart energy management market and is expected to grow at the highest CAGR during the forecast period. The large share of this segment is attributed to the increasing government initiatives and policies toward energy efficiency and the rising need to manage electricity demand to optimize energy consumption.
Based on geography, the global smart energy management market is segmented into five major geographies, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, North America is estimated to account for the largest share of the global smart energy management market. Government regulations for cost-saving and optimizing energy consumption and the growing inclination toward clean energy are the major factors contributing to the market's growth. In 2021, the U.S. Department of Energy (DOE) announced USD 61 million for ten pilot projects that will deploy modern technology to transform homes and workplaces into state-of-the-art, energy-efficient buildings.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/smart-energy-management-market-5255
The key players operating in the smart energy management market are Asea Brown Boveri (ABB) Ltd. (Switzerland), General Electric Company (U.S.), Honeywell International, Inc. (U.S.), Schneider Electric SE (France), Emerson Electric Co. (U.S.), Johnson Controls International Plc (Ireland), Cisco Systems, Inc. (U.S.), Siemens AG (Germany), Driivz Ltd. (Israel), Telit (U.K.), Tata Consultancy Services (TCS) (India), Robert Bosch GmbH (Germany), Panasonic Corporation (Japan), LG Electronics Inc. (South Korea), NEC Corporation (Japan), SAGE Automation (Australia), Vivint, Inc. (U.S.), Alarm.com (U.S.), Ecobee (Canada), and EcoFactor, Inc. (U.S.).
Related Report:
Smart Cities Market by Application (Smart Utilities, Smart Transportation, Water Management, Waste Management, Smart Healthcare, Smart Lighting, Smart Education), Component (Hardware, Software, and Services), and Geography - Global Forecast to 2027
https://www.meticulousresearch.com/product/smart-cities-market-5087
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
Email- sales@meticulousresearch.com
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
We are the trusted research partners for leading businesses around the world, providing market intelligence focused towards building revenue transformation strategies. Our research is used by Fortune 500 organizations to attain success by scouting next generation revenue opportunities well ahead of their competition.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Smart Energy Management Market Worth $47.64 Billion by 2029- Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Meticulous Research® here
News-ID: 2643726 • Views: …
More Releases from Meticulous Research®

Clinical Lab Automation Market Outlook (2024-2031): Growth Trends and Opportunit …
The Clinical Lab Automation Market has been growing steadily as labs adopt automated instruments to handle more tests and work efficiently. In 2023, the market was valued at $2.22 billion, and it is expected to reach $2.38 billion in 2024. By 2031, it could grow to $4.01 billion, at a CAGR of 7.8% between 2024 and 2031. This growth comes from more people needing tests, fewer trained lab professionals, and…

Rooftop HVAC Units Market Forecast 2025-2035: Trends, Growth, and Opportunities
Rooftop HVAC Units Market Overview
The global rooftop HVAC units market has been witnessing steady growth due to increasing demand for space-efficient heating, ventilation, and air conditioning solutions in commercial buildings. Valued at USD 12.45 billion in 2024, the market is expected to rise to USD 13.42 billion in 2025 and further reach USD 24.85 billion by 2035, growing at a CAGR of 6.4% during the forecast period. The expansion of…

Microgrid Control System Market Growth, Trends, and Forecast 2035
Microgrid Control System Market Overview
The global microgrid control system market is witnessing significant growth as organizations and governments seek reliable, resilient, and modernized power solutions. Valued at USD 3.85 billion in 2024, the market is projected to reach USD 4.58 billion in 2025 and expand to approximately USD 18.92 billion by 2035, reflecting a robust compound annual growth rate (CAGR) of 15.2% over the forecast period. This growth is driven…

Hydrogen Fuel Cell Stack Modules Market Size, Growth, and Forecast 2035
Market Overview
The global hydrogen fuel cell stack modules market has been witnessing significant growth, with the market valued at USD 1.78 billion in 2024 and projected to reach USD 2.20 billion in 2025. Analysts expect it to expand further to USD 20.71 billion by 2035, growing at a remarkable CAGR of 23.4% during the forecast period. This rapid expansion is driven by the worldwide focus on decarbonization and achieving net-zero…
More Releases for Energy
Green Renewable Energy Market Next Big Thing: Enphase Energy, Bloom Energy, Clea …
Advance Market Analytics published a new research publication on "Green Renewable Energy Market Insights, to 2030" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Green Renewable Energy market was mainly driven by the increasing R&D spending across the world.
Get inside Scoop of the…
Business Energy Solution Market Size in 2023 To 2029 | SSE Energy Solutions, BES …
The large-scale Business Energy Solution market report provides valuable insights for clients looking to forecast investments in emerging markets, expand market share, or launch new products. The report presents multifaceted Business Energy Solution market insights that are simplified using established tools and techniques, making it a credible marketing report. Data is presented in a clear and easy-to-understand manner, with graphs and charts to aid comprehension. The report employs integrated approaches…
Decentralized Energy Storage Market Is Booming Worldwide | Fuelcell Energy, Enph …
A new business intelligence report released by AMA with title "Decentralized Energy Storage Market" has abilities to raise as the most significant market worldwide as it has remained playing a remarkable role in establishing progressive impacts on the universal economy. The Global Decentralized Energy Storage Market Report offers energetic visions to conclude and study market size, market hopes, and competitive surroundings. The research is derived through primary and secondary statistics…
Waste-To-Energy Technologies Market Top Growing Companies: Xcel Energy, Novo Ene …
Qurate Business Intelligence’s up-to-date research study on Waste-To-Energy Technologies was performed by highly qualified research professionals and industry experts. This is to provide an in-depth analysis on the Waste-To-Energy Technologies. The report is comprehensive and includes over 120 pages. The global energy market is witnessing a shift toward waste to energy technologies due to growing energy demands worldwide, the rapid depletion of conventional sources of energy, and concerns over…
Waste To Energy Market ||Novo Energy Ltd., Hitachi Zosen, Foster Wheeler A.G., S …
Zion Market Research published a new 110+ pages industry research "Global Waste to Energy Market Set For Rapid Growth, To Reach Value Around USD 42.74 Billion By 2024" is exhaustively researched and analyzed in the report to help market players to improve their business tactics and ensure long-term success. The authors of the report have used easy-to-understand language and uncomplicated statistical images but provided thorough information and detailed data on…
In-Pipe Hydro Systems Market | key player - Lucid Energy, Rentricity, Tecnoturbi …
Looking at the current market trends as well as the promising demand status of the “In-Pipe Hydro Systems Market” it can be projected that the future years will bring out positive outcomes. This research report added by MRRSE on its online portal delivers clear insight about the changing tendencies across the global market. Readers can gather prime facets connected to the target market which includes product, end-use and application; assisting…