The global energy management system (EMS) market is experiencing significant growth and is anticipated to reach USD 111.2 billion by 2030. This expansion is attributed to the increasing adoption of EMS in building automation, stringent government regulations, fluctuating electricity prices, and a variety of financial incentives.
Additionally, the rising focus on efficient electricity management across industrial, commercial, and public sector enterprises, alongside the implementation of advanced energy-efficient technologies and the digitization of the utility landscape, is further fueling market growth.
In recent years, the service segment has accounted for a substantial share of the market and is expected to maintain its dominance. This is due to the increasing need for seamless integration and deployment of EMS solutions in residential and corporate settings globally. Factors such as building owners’ preference for comprehensive control over EMS, heightened awareness and education levels, and the ability to monitor localized energy demands are driving this segment’s growth.
The electric power system is undergoing a transformative global shift, with efforts focused on modernizing infrastructure and managing natural resources using advanced communication and information technologies. Smart grid systems play a pivotal role in this transition by offering consumers simplified integration and reliable services, enabling automated data collection for billing and equipment diagnostics via smart power meters.
The manufacturing sector, accounting for over 22% of the market share in recent years, is projected to remain the leading category. This is driven by the high demand for EMS solutions to manage multiple energy sources, particularly as the manufacturing industry is a major consumer of electricity. Additionally, the need for uninterrupted power supply (UPS) and effective power distribution contributes to this trend.
In 2022, North America dominated the EMS market with a 36% revenue share and is expected to retain its leading position. This dominance can be attributed to widespread adoption across residential, commercial, and industrial applications, increasing demand for reduced energy consumption and lower power bills, and the growing popularity of residential EMS solutions driven by heightened awareness and affordability among consumers.
In conclusion, the growing adoption of EMS for managing electricity cost fluctuations, building automation, strict government policies, and diverse incentives are key drivers of the energy management system market.
Comments