Energy Management Systems Market Size, Industry Analysis Report By Component (Software, Hardware, Services), By Type (Home Energy Management Systems, Building Energy Management Systems, Industrial Energy Management Systems), By Deployment ( On-Premise, Cloud Based), By End use (Power & Energy, Telecom & IT, Manufacturing, Residential & Commercial, Food & Beverages) & Region - Forecasts By 2033
- PUBLISHED ON
- 2024-08-16
- NO OF PAGES
- 241
- CATEGORY
- Energy & Power
Market Overview
The global energy management systems market was worth USD 45,110 million in 2022 and is projected to amplify at a CAGR of 14.55% over 2023-2033, thereby amassing USD 153,620 million by end of the assessment timeline.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 45,110 Million |
Market Forecast in 2033 | USD 153,620 Million |
CAGR % 2023-2033 | 14.55% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product Type, end-user industry, company share, company heatmap, company Component Technology Type capacity, growth factors and more |
Segments Covered | Type, Component, Deployment |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | ABB (Switzerland), Cisco Systems, Inc. (US), General Electric (US), Schneider Electric (France), Honeywell International Inc. (US), Eaton (Ireland), Emerson Electric Co. (US), Energy Management Systems, Inc. (US), Mitsubishi Electric Corporation (Japan), IBM (US), Rockwell Automation, Inc. (US), Siemens (Germany), Hitachi (Japan), Yokogawa Electric Corporation (Japan), C3 AI (US), Delta Electronics, Inc. (Taiwan), Enel X (Italy), Neptune India (India), Weidmuller (Germany), SWITCH Energy Inc. (Canada), Sensorberg (Germany), Distech Controls (Canada), Budderfly (US), GridPoint (US), and geo (Green Energy Options) (UK) |
Energy Management Systems Market: Description
Energy management systems are referred to as a type of automated solutions that gather energy measurement information from the field. The collected data is then made available through energy quality analyzers, online monitoring tools, and graphics to assist concerned bodies in efficiently managing their energy resources.
Energy management solutions help users to identify energy leaks, reduce power during peak hours, while facilitating the proper regulation of power transmission. These systems are predominantly adopted across commercial, industrial, and public sector enterprises.
The escalating demand for sustainable energy sources, stringent emission regulations across the globe, and rising R&D activities in the field are the primary factors aiding the expansion of this marketplace.
Furthermore, the rising adoption of smart meters and smart grids across commercial and residential complexes is creating lucrative opportunities for the industry vertical to prosper. Besides, favorable government policies encouraging the use of sustainable power sources is adding momentum to the market progression.
Additionally, growing need for continuous power supply owing to rapid urbanization and industrialization across major economies is positively swaying the dynamics of this industry sphere. Moreover, surging technological advancements in the field, rising emission levels across the globe, and increasing focus of players to introduce innovative energy management tools are bolstering the growth of this business vertical. On the contrary, high installation costs pertaining to these systems is hindering the remuneration scope of this marketplace.
The world is witnessing a wave of global warming and climate change due to widespread urbanization and industrialization. Humans are exploiting natural resources to fulfil various needs.
The rising demand for continuous power supply across various nations has resulted in fossil fuel depletion. Therefore, various governments have joined hands to promote the use of sustainable energy sources as a measure to tackle climate change and other environmental threats. This in turn is adding traction to the development of this industry.
With rapid integration of modern technologies in the energy and utility sector, key players are making robust investments into smart projects across the globe.
This has resulted in the prompt adoption of smart meters and smart grids across the residential, commercial, and industrial complexes. This energy management equipment offers a wide array of advantages including reduced operational costs, fraud detection, streamlined utility bills, and enhanced reliability, among others. These factors are augmenting the outlook of this marketplace.
Energy Management Systems Market- Segmental Analysis:
Type Insights
The Home Energy Management Systems segment accounted for a significant revenue share in 2022 and is anticipated to grow at a significant CAGR.
Component Insights
Software segment is expected to dominate the Energy Management Systems market during the forecast period.
Deployment Insights
The Cloud Based segment is expected to grow at the highest CAGR during the forecast period.
End Use Insights
The manufacturing segment is poised to amass notable gains over the stipulated timeframe owing to the rising efforts of companies to reduce their utility costs.
Regional Insights
The primary regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and Latin America. Among these, North America is projected to capture a substantial revenue share. This is attributable to the rising demand for sustainable power sources, increasing R&D investments in the field, and present of stringent emission regulations in the region.
Competitive Analysis
The prominent players characterizing the competitive terrain of this industry are ABB (Switzerland), Cisco Systems, Inc. (US), General Electric (US), Schneider Electric (France), Honeywell International Inc. (US), Eaton (Ireland), Emerson Electric Co. (US), Energy Management Systems, Inc. (US), Mitsubishi Electric Corporation (Japan), IBM (US), Rockwell Automation, Inc. (US), Siemens (Germany), Hitachi (Japan), Yokogawa Electric Corporation (Japan), C3 AI (US), Delta Electronics, Inc. (Taiwan), Enel X (Italy), Neptune India (India), Weidmuller (Germany), SWITCH Energy Inc. (Canada), Sensorberg (Germany), Distech Controls (Canada), Budderfly (US), GridPoint (US), and geo (Green Energy Options) (UK).
· Notably, in August 2021, Emerson announced the acquisition of Open Systems International, Inc. to diversify its offerings in the field.
Energy Management Systems Market- Segmental Analysis
By Component
• Software
• Hardware
• Services
By Type
• Home Energy Management Systems
• Building Energy Management Systems
• Industrial Energy Management Systems
By Deployment
• On-Premise
• Cloud Based
By End use
• Power & Energy
• Telecom & IT
• Manufacturing
• Residential & Commercial
• Food & Beverages
• Others
1.
Global
Energy Management Systems Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global Energy Management Systems
Market Scope and Market Estimation
1.2.1. Global Energy Management Systems
Overall Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023 -
2033)
1.2.2. Global Energy Management Systems
Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2033
1.3. Market Segmentation
1.3.1. Component of Global Energy
Management Systems Market
1.3.2. Type of Global Energy Management
Systems Market
1.3.3. Deployment of Global Energy
Management Systems Market
1.3.4. End-use Industry of Global Energy
Management Systems Market
1.3.5. Region of Global Energy
Management Systems Market
2.
Executive Summary
2.1. Global Energy Management Systems Market Industry Trends under COVID-19 Outbreak
2.1.1. Global COVID-19 Status Overview
2.1.2. Influence of COVID-19 Outbreak
on Global Energy Management Systems Market
Industry Development
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Limitations
2.2.3. Opportunities
2.2.4. Impact Analysis of Drivers and
Restraints
2.3. Pricing Trends Analysis & Average
Selling Prices (ASPs)
2.4. Key Mergers & Acquisitions,
Expansions, JVs, Funding / VCs, etc.
2.5. Porter’s Five Forces Analysis
2.5.1. Bargaining Power of Suppliers
2.5.2. Bargaining Power of Buyers
2.5.3. Threat of Substitutes
2.5.4. Threat of New Entrants
2.5.5. Competitive Rivalry
2.6. Value Chain / Ecosystem Analysis
2.7. Russia-Ukraine War Impacts
Analysis
2.8. Economic Downturn Analysis
2.9. Market Investment Opportunity
Analysis (Top Investment Pockets), By Segments & By Region
3.
Global Energy Management Systems
Market Estimates & Historical Trend
Analysis (2019 - 2022)
4.
Global Energy Management Systems
Market Estimates & Forecast Trend
Analysis, by Component
4.1. Global Energy Management Systems
Market Revenue (US$ Mn) Estimates and Forecasts, by Component, 2019 to 2033
4.1.1. Software
4.1.2. Hardware
4.1.3. Services
5.
Global Energy Management Systems
Market Estimates & Forecast Trend
Analysis, by Type
5.1. Global Energy Management Systems
Market Revenue (US$ Mn) Estimates and Forecasts, by Type, 2019 to
2033
5.1.1. Home Energy Management Systems
5.1.2. Building Energy Management
Systems
5.1.3. Industrial Energy Management
Systems
6.
Global Energy Management Systems
Market Estimates & Forecast Trend
Analysis, by Deployment
6.1. Global Energy Management Systems
Market Revenue (US$ Mn) Estimates and Forecasts, by Deployment,
2019 to 2033
6.1.1. On-Premise
6.1.2. Cloud Based
7.
Global Energy Management Systems
Market Estimates & Forecast Trend
Analysis, by End-use
7.1. Global Energy Management Systems
Market Revenue (US$ Mn) Estimates and Forecasts, by End-use, 2019
to 2033
7.1.1. Power & Energy
7.1.2. Telecom & IT
7.1.3. Manufacturing
7.1.4. Residential & Commercial
7.1.5. Food & Beverages
7.1.6. Others
8.
Global Energy Management Systems
Market Estimates & Forecast Trend
Analysis, by Region
8.1. Global Energy Management Systems
Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 to 2033
8.1.1. North America
8.1.2. Europe
8.1.3. Asia Pacific
8.1.4. Middle East & Africa
8.1.5. South America
9.
North
America Energy Management Systems Market: Estimates & Forecast Trend Analysis
9.1.
North
America Energy Management Systems Market Assessments & Key Findings
9.1.1. North America Energy Management
Systems Market Introduction
9.1.2. North America Energy Management
Systems Market Size Estimates and Forecast (US$ Million) (2019 – 2033)
9.1.2.1. By Component
9.1.2.2. By Type
9.1.2.3. By Deployment
9.1.2.4. By End-use
9.1.2.5. By Country
9.1.2.5.1. The U.S.
9.1.2.5.2. Canada
9.1.2.5.3. Mexico
10. Europe Energy
Management Systems Market: Estimates
& Forecast Trend Analysis
10.1. Europe Energy Management Systems
Market Assessments & Key Findings
10.1.1. Europe Energy Management Systems
Market Introduction
10.1.2. Europe Energy Management Systems
Market Size Estimates and Forecast (US$ Million) (2019 – 2033)
10.1.2.1. By Component
10.1.2.2. By Type
10.1.2.3. By Deployment
10.1.2.4. By End-use
10.1.2.5. By Country
10.1.2.5.1. Germany
10.1.2.5.2. U.K.
10.1.2.5.3. France
10.1.2.5.4. Italy
10.1.2.5.5. Spain
10.1.2.5.6. Russia
10.1.2.5.7. Rest of Europe
11. Asia Pacific Energy
Management Systems Market: Estimates
& Forecast Trend Analysis
11.1. Asia Pacific Market Assessments
& Key Findings
11.1.1. Asia Pacific Energy Management
Systems Market Introduction
11.1.2. Asia Pacific Energy Management
Systems Market Size Estimates and Forecast (US$ Million) (2019 – 2033)
11.1.2.1. By Component
11.1.2.2. By Type
11.1.2.3. By Deployment
11.1.2.4. By End-use
11.1.2.5. By Country
11.1.2.5.1. China
11.1.2.5.2. Japan
11.1.2.5.3. India
11.1.2.5.4. Australia
11.1.2.5.5. South Korea
11.1.2.5.6. ASEAN
11.1.2.5.7. Rest of Asia Pacific
12. Middle East & Africa Energy
Management Systems Market: Estimates
& Forecast Trend Analysis
12.1. Middle East & Africa Market
Assessments & Key Findings
12.1.1. Middle
East & Africa Energy
Management Systems Market Introduction
12.1.2. Middle
East & Africa Energy
Management Systems Market Size Estimates and Forecast (US$ Million) (2019 – 2033)
12.1.2.1. By Component
12.1.2.2. By Type
12.1.2.3. By Deployment
12.1.2.4. By End-use
12.1.2.5. By Country
12.1.2.5.1. U.A.E.
12.1.2.5.2. Saudi Arabia
12.1.2.5.3. Egypt
12.1.2.5.4. South Africa
12.1.2.5.5. Rest of Middle East & Africa
13. South America
Energy Management Systems Market:
Estimates & Forecast Trend Analysis
13.1. South America Market Assessments
& Key Findings
13.1.1. South America Energy Management
Systems Market Introduction
13.1.2. South America Energy Management
Systems Market Size Estimates and Forecast (US$ Million) (2019 – 2033)
13.1.2.1. By Component
13.1.2.2. By Type
13.1.2.3. By Deployment
13.1.2.4. By End-use
13.1.2.5. By Country
13.1.2.5.1. Brazil
13.1.2.5.2. Argentina
13.1.2.5.3. Colombia
13.1.2.5.4. Rest of South America
14. Competition Landscape
14.1. Global Energy Management Systems
Market Competition Matrix & Benchmarking, by Leading Players / Innovators /
Emerging Players / New Entrants
14.2. Global Energy Management Systems
Market Competition White Space Analysis, By End-user
14.3. Global Energy Management Systems
Market Competition Heat Map Analysis, By End-user
14.4. Global Energy Management Systems
Market Concentration & Company Market Shares (%) Analysis, 2022
15. Company Profiles
15.1.
ABB
15.1.1. Company Overview & Key Stats
15.1.2. Financial Performance & KPIs
15.1.3. Product Portfolio
15.1.4. Business Strategy & Recent
Developments
* Similar details would be provided
for all the players mentioned below
15.2. Cisco Systems,
Inc.
15.3. General
Electric
15.4. Schneider
Electric
15.5. Honeywell
International Inc.
15.6. Eaton
15.7. Emerson
Electric Co.
15.8. Energy
Management Systems, Inc.
15.9. Mitsubishi
Electric Corporation
15.10. IBM
15.11. Rockwell
Automation, Inc.
15.12. Siemens
15.13. Hitachi
15.14. Yokogawa
Electric Corporation
15.15. C3 AI
15.16. Delta
Electronics, Inc.
15.17. Enel X
15.18. Neptune India
15.19. Weidmuller
15.20. SWITCH Energy
Inc.
15.21. Sensorberg
15.22. Distech
Controls
15.23. Budderfly
15.24. GridPoint
15.25. geo (Green
Energy Options)
15.26. Others**
16. Research
Methodology
16.1. External Transportations /
Databases
16.2. Internal Proprietary Database
16.3. Primary Research
16.4. Secondary Research
16.5. Assumptions
16.6. Limitations
16.7. Report FAQs
17. Research
Findings & Conclusion
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Market Research Process
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To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The global energy management systems market was worth USD 45,110 million in 2022 and is projected to amplify at a CAGR of 14.55% over 2023-2033, thereby amassing USD 153,620 million by end of the assessment timeline.
What are the drivers shaping various markets?
Surging technological advancements in the field, rising emission levels across the globe, and increasing focus of players to introduce innovative energy management tools are bolstering the growth of this business vertical. On the contrary, high installation costs pertaining to these systems is hindering the remuneration scope of this marketplace.
Who are the key competitors of market Players?
Some of the major players operating within the market are ABB (Switzerland), Cisco Systems, Inc. (US), General Electric (US), Schneider Electric (France), Honeywell International Inc. (US), Eaton (Ireland), Emerson Electric Co. (US), Energy Management Systems, Inc. (US), Mitsubishi Electric Corporation (Japan), IBM (US), Rockwell Automation, Inc. (US), Siemens (Germany), Hitachi (Japan), Yokogawa Electric Corporation (Japan), C3 AI (US), Delta Electronics, Inc. (Taiwan), Enel X (Italy), Neptune India (India), Weidmuller (Germany), SWITCH Energy Inc. (Canada), Sensorberg (Germany), Distech Controls (Canada), Budderfly (US), GridPoint (US), and geo (Green Energy Options) (UK)
What are the top performing segments, and countries / regions of each of the markets?
The primary regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and Latin America. Among these, North America is projected to capture a substantial revenue share.
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