Global Energy Management Systems Market End-User, Key Players, Growth, Demands and Forecasts to 2027

The global energy management systems market is expected to grow at a CAGR of 14.2% to reach USD 75.0 billion by 2027, from an estimated USD 38.6 billion in 2022.The growth of the energy management systems market is proportional to the installation of smart grids and smart meters. Also, the increasing energy consumption as well as the price volatility of energy resources plays a major role in driving the growth of energy management systems. There are several government policies and regulations being implemented to increase the energy efficiency and to tackle the climate change. Energy management systems, as a result, may experience a growth in demand during the forecast period.

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"Software: The fastest-growing segment, by component, in the energy management systems market"
Based on component of energy management systems, the software segment is expected to exhibit the highest CAGR from 2022 to 2027.The software segment is driven by the rising demand for cloud-based services from applications such as utilities, industrial, commercial, and residential. EMS software provides automated load control, which identifies peak load times, benchmarking energy price analysis, graphical data presentation, wastage tracking, and energy scheduling. Thus, the rising demand due to the advantage of real-time monitoring and optimization of energy use is expected to propel the demand for software integrated energy management systems.

"On-Premise: The largest segment, by deployment, in the energy management systems market"
The on-premise segment accounted for the largest share in the global energy management systems market, by deployment, in 2022. The dominance of this segment can be attributed to the reliability over the back-up provided by installing systems on the company's local server. Also, the reduced level of cyber threats and more privacy been provided to the data is experienced with the on-premise type of deployment. On-premise energy management systems are installed locally on a company's own servers, and the initial deployment costs, as well as the maintenance costs, are extremely high. Cloud-based is priced under a monthly or annual subscription basis, including costs for support and updates, with the additional fees being of training, whereas, on-premise deployment is generally priced under a one-time perpetual license fee, which is usually based on the organization's size or the number of parallel users.

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"Asia Pacific: The fastest-growing region in energy management systems market"
The market in the Asia Pacific accounted for 23.3% share of the global energy management systems market in 2021 and is expected to grow at the fastest CAGR of 15.0% during the forecast period. The major end users for energy management systems in the Asia Pacific region are the manufacturing industries and the region has emerged as a global hub for manufacturing activities. The growth of the manufacturing and industrial sectors makes it necessary for the economies in this region to prudently manage and increase the existing power and fuel resources to ensure energy security. The huge manufacturing sector prevailing in this region is the major factor driving the energy management systems market. The Industrial energy management systems, as a result, have a wide application in this region.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
• By Company Type: Tier 1- 55%, Tier 2- 30%, and Tier 3- 15%
• By Designation: C-Level- 30%, Director Level- 20%, and Others- 50%
• By Region: Asia Pacific- 60%, North America- 18%, Europe- 10%, Middle East& Africa- 8%, and South America - 4%.

Note: Others includes sales managers, engineers, and regional managers.

Note: The tiers of the companies are defined on the basis of their total revenues as of 2021. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
The leading players in the energy management systems market include Siemens (Germany), Schneider Electric (France), ABB (Switzerland), General Electric (US), and Emerson Electric Co. (US).

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Research Coverage:
The report explains, describes, and forecasts the global energy management systems market, by component, type, deployment, end user industry, and region.
It also offers a detailed qualitative and quantitative analysis of the energy management systems market. The report provides a thorough review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the energy management systems market.

Key Benefits of Buying the Report:
• The report identifies and addresses the key markets for energy management systems, which would help energy management systems manufacturers review the growth in demand.
• The report facilitates system providers understand the pulse of the market and offers insights into drivers, restraints, opportunities, and challenges.
• The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.

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This release was published on openPR.