Energy Management System Market at a Highest CAGR of 16.37% with Top Players | Schneider Electric SE, Siemens AG, ABB Limited and More

The global energy management system market is projected to grow USD 112.32 billion by 2031, at a CAGR of 16.37% during the forecast period to 2031, The demand for energy management is on the rise as businesses aim to trim expenses, monitor energy usage, and cater to socially responsible customers worldwide. Furthermore, companies stand to gain various advantages from energy management, such as cost reduction through competitive procurement and strategic consumption cuts, bolstering corporate social responsibility by reducing greenhouse gas emissions, closely tracking utility expenditures for more accurate budgeting and a deeper understanding of operational costs, and reducing reliance on inherently fragile supply chains.

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The increasing deployment of smart grids and smart meters is playing a pivotal role in driving market growth. Additionally, governments across the globe are actively working to modernize their national energy infrastructures, aiming to enhance efficiency and increase their overall value, which in turn supports economic progress. Governments worldwide are unified in their efforts to transition toward sustainable, resilient, and economically viable energy systems, thereby fueling the expansion of the market.

Key Companies Profiled:

Schneider Electric SE (France)
Siemens AG (Germany)
Eaton Corporation (Ireland)
ABB Limited (Switzerland)
Johnson Controls International PLC (U.S.)
General Electric Company (U.S.)
IBM Corporation (U.S.)
Honeywell International Inc. (U.S.)
Emerson Electric Company (U.S.)
NEC Corporation (Japan)

Market Dynamics:-

By System Type

Building Energy Management System
Industrial Energy Management System

By End-user

Residential/Smart Homes
Commercial Building/Complex

By Application

Energy Distribution
Design
e-Mobility
Property Safety
Automation
Others (Energy Storage)

By Industry

Manufacturing
Energy & Utilities
Automotive
Healthcare
Oil & Gas
Others (IT and Telecom, Hospitality)

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Key industry developments:

In December 2023, the UAE Ministry of Energy and Infrastructure (MoEI) implemented an Energy Management System powered by artificial intelligence on federal roads. This system adjusts street lighting levels from traditional high-pressure sodium (HPS) lamps to LED lights for optimized illumination.
July 2023 saw Schneider Electric and Pacific Gas and Electric Company (PG&E) unveiling a new distributed energy resource management system (DERMS) on the Microsoft Azure platform. This system enhances the value of energy storage, electric vehicles, and solar energy to deliver cost-effective energy solutions to customers.
February 2023 witnessed Emerson's launch of the Ovation Green platform, integrating power-sector expertise and renewable energy capabilities. This platform aids power generation firms in meeting consumer demands for green energy transition and management, incorporating Mita-Teknik software to bolster green energy initiatives and sustainable operations.
In March 2022, ABB India introduced advanced smart metering solutions for efficient energy management and power consumption monitoring. Additionally, the company provides network analyzers and single/multifunction meters for comprehensive power quality analysis across various sectors like hospitality, healthcare, infrastructure, and food and beverages.

Table of Contents:

Section 1 energy management system Product Definition
Section 2 Global energy management system Market Manufacturer Share and Market Overview
Section 3 Manufacturer energy management system Business Introduction
Section 4 Global energy management system Market Segmentation (Region Level)
Section 5 Global energy management system Market Segmentation (Product Type Level)
Section 6 Global energy management system Market Segmentation (Industry Level)
Section 7 Global energy management system Market Segmentation (Channel Level)
Section 8 energy management system Market Forecast 2024-2031
Section 9 energy management system Segmentation Product Type
Section 10 energy management system Segmentation Industry
Section 11 energy management system Cost of Production Analysis

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Regions Covered in the Global energy management system Market:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East, Africa and rest of the world

Key Report Highlights:

The report provides a comprehensive overview of market size, growth drivers, and trends, This information can help businesses to make informed decisions about their strategies.
The report provides a competitive analysis of the energy management system, which can help businesses to identify their strengths & weaknesses to the competitors.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth global energy management system outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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This release was published on openPR.