North America Is Dominating Energy Management System Market

In 2022, the energy management system market was worth around USD 39,685 million, and it is projected to advance at a 13.8% CAGR from 2022 to 2030, hitting USD 111,234 million in 2030, according to P&S Intelligence.

This can be credited to the increasing acceptance of EMS in electricity cost volatility, construction automation, strict government rules, guidelines, and numerous incentives. Furthermore, the increase in the management of electricity uses across industrial, public and commercial sector initiatives, execution of cutting-edge power-efficient technology, and digitization in the electric utility scenario are boosting the growth of the industry.

Request for sample pages of this report: https://www.psmarketresearch.com/market-analysis/energy-management-systems-market/report-sample

In 2022, the service category held the major revenue share and is projected to continue at the leading spot in the future as well. This growth can be credited to the rising demand for the suitable integration and installation of EMS equipment in residential and corporate buildings throughout the world.

Some of the key reasons fuelling the growth of this category are building owners' tendency for complete control over an EMS, rising knowledge and literacy rates, and their capability to track the growing power demand for a specific location.

Intending to alteration of current infrastructure with up-to-date communication and information technologies, the electric energy system is presently undergoing a profound transition worldwide. Furthermore, smart grid systems are offering consumers an improved way of saving power with easy integration and reliable service. Additionally, consumers are allowed to automate billing information and detect equipment glitches because of the data provided by smart power meters.

In 2022, the manufacturing category held the largest energy management system market share, at 22%, and is projected to continue to the dominance in the future as well. This can be credited to the increasing requirement for EMS solutions utilized to manage numerous power sources as it is one of the biggest utilizers of electricity and the growing need for constant power supply coupled with effective energy management and distribution.

Browse full report at: https://www.psmarketresearch.com/market-analysis/energy-management-systems-market

In 2022, North America held the largest revenue share, at 36%, and is projected to continue with the dominant in the future as well. This can be ascribed to the heavy usage of such solutions for an extensive range of residential, commercial, and industrial applications; the rising need for reduced power consumption along with power bills, and the rising shift for residential EMS due to growing awareness among the target population, along with the ability to afford them.

Hence, because of the increasing acceptance of EMS in building automation, electricity cost volatility, construction automation, strict government rules, guidelines, and numerous incentives, are the major factors driving the energy management system industry globally, in the near future.

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

Contact:
Chandra Mohan
AVP - Business Development
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Blogs: https://worldwideanalysistrends.blogspot.com/
Follow Us: https://www.linkedin.com/company/pnsintelligence/

This release was published on openPR.