#energy management system market

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/PRNewswire/ -- Energy Management Systems Market in terms of revenue was estimated to be worth $44.19 billion in 2024 and is poised to reach $84.34 billion by 2029, growing at a CAGR of 13.8% from 2024 to 2029 according to a new report by MarketsandMarkets™. The global EMS market is mainly pushed through the increasing emphasis on power efficiency and the growing need to reduce operational prices across diverse industries. As energy expenses keep to differ and regulatory pressures accentuate, organizations are in search of advanced solutions to optimize strength intake, improve productivity, and reduce carbon emissions. EMS solutions offer actual-time monitoring, predictive analytics, and automation abilities that permit organizations to manipulate their energy utilization more efficiently, main to big cost financial savings and more advantageous sustainability. This demand for electricity efficiency is specially robust in strength-in depth sectors which includes manufacturing, utilities, and industrial actual property, wherein the implementation of EMS can result in sizeable financial and environmental advantages.

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The energy management system market was estimated to be worth USD 5.26 billion in 2022, and from 2023 to 2029, total revenue is predicted to increase at a rate of 6.86%, or close to USD 8.38 billion.

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Unveiling the Energy Management System Market Landscape by 2025

The global energy management system market was estimated to be worth US$ 6340 Million in 2016 and is anticipated to grow at a CAGR of 14.8% from 2017 to 2025, according to a different market report published by Future Market Bits of knowledge and titled “Energy Management System Market – Worldwide Industry Examination 2012 – 2016 and Opportunity Evaluation, 2017 – 2025.”

The primary factors anticipated to propel the growth of the overall energy management system market are the increasing revenue for energy management programmes in the commercial sectors, rising energy costs, ongoing expansion of regulatory obligations and industry regulations, maintaining association brand value and reputation, and shippers profiting from the accumulation of emerging advancements like convenience, cloud, and big data.

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The energy management system measures and reviews the delayed consequences of energy efficiency redesigns. The energy management system helps with sorting out the energy procedure of the association, which maintains the headway of an energy methodology and adds to the plan of energy mean to achieve targets. The energy management system moreover works with the responsibility (obligation and game plan) of the board and has a positive responsibility towards the energy targets.

All the asset concentrated enterprises use a huge measure of unrefined components, water, and energy assets, hence prompting a lot of strong waste, effluents, and emanations. These businesses are regularly dependent upon various worldwide and neighborhood guidelines, alongside a few plant-level geology consistence’s. To agree with these tough guidelines, ventures are embracing energy the board system and are utilizing different strategies.

The worldwide energy management system market is ordered based on organization, vertical, and programming. Based on sending, the market is portioned into on-reason and cloud-based. The on-premise sub-section was esteemed US$ 3,931.8 Million in 2016. Be that as it may, the cloud-based sub-fragment is projected to enroll a high CAGR of 18.9% during the estimated time frame.

Based on upward, the worldwide energy management system market is sectioned into auto, building robotization, oil, and gas, producing, drug, utilities and energy, and others. The oil and gas sub-portion accounted for a high piece of the pie and was esteemed at US$ 1,727.7 Mn in 2016. Nonetheless, the structure computerization sub-fragment is relied upon to enlist a sound CAGR of 17.3% during the estimated time frame.

Based on programming, the worldwide energy management system market is sectioned into utility energy the board, modern energy management, undertaking carbon and energy management, and private energy management. Endeavor carbon and energy the board portion accounted for a high piece of the pie and was esteemed at US$ 2,257.0 Mn in 2016 and enrolled a CAGR of 17.0%.

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Instances of a portion of the critical rivals in the energy the board system market are International Business Machines Corporation, C. A Technologies, Schneider Electric SE, Eaton Corporation PLC, Cisco Systems, Inc., Siemens AG, Honeywell International, Inc., Asea Brown Boveri (ABB) Ltd., General Electric Company, and Emerson Electric Co.

Key Segments Covered

By Deployment:

Cloud based

On-premise

By Vertical:

Automotive

Building Automation,

Oil & Gas,

Manufacturing,

Pharmaceutical

Utilities & Energy

Others

By Software:

Utility Energy Management

Industrial Energy Management

Enterprise Carbon and Energy Management

Residential Energy Management.

Key Regions covered:

North America

Latin America

Europe

Asia Pacific

MEA

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Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

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According to the report published by Allied Market Research, the global energy management system market is anticipated to generate a revenue of $161.9 billion by 2030. The market garnered $36.2 billion in 2020 and is expected to show a stunning CAGR of 16.2% from 2021 to 2030.

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Global Energy Storage Battery Management System Bms Market Conditions and Future Expectations 2024 - 2031

The Battery Management System (BMS) plays a crucial role in managing and optimizing the performance of energy storage systems. As the demand for energy storage solutions increases, the BMS market is set to grow significantly, driven by technological advancements and the rise of renewable energy sources.

Market Overview

Growth Projections

The global Battery Management System (BMS) market is estimated to reach USD 12.0 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 17.35% from 2024 to 2032. This growth is largely attributed to the increasing demand for efficient energy storage solutions across various sectors.

Key Drivers

Rising Adoption of Renewable Energy: With a shift towards sustainability, there is an increased need for effective energy storage solutions.

Technological Advancements: Innovations in BMS technology enhance efficiency, safety, and reliability, further driving market growth.

Applications of BMS

Industrial Applications

BMS is widely used in industrial applications to manage large energy storage systems, ensuring optimal performance and safety.

Consumer Electronics

The integration of BMS in consumer electronics like smartphones and laptops helps extend battery life and improve safety.

Electric Vehicles (EVs)

As the EV market expands, the demand for sophisticated BMS solutions that can enhance battery performance and longevity continues to rise.

Challenges and Opportunities

Market Challenges

High Initial Costs: The high cost of advanced BMS can be a barrier for widespread adoption.

Complexity in Integration: Integrating BMS with existing systems can pose challenges for manufacturers.

Opportunities

Emerging Markets: Growing economies are increasingly investing in renewable energy projects, providing opportunities for BMS suppliers.

Conclusion

The Global Energy Storage Battery Management System market is poised for substantial growth in the coming years. With the increasing emphasis on energy efficiency and sustainability, BMS will play a pivotal role in shaping the future of energy storage solutions.

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Energy Management Systems Market: Tech Drivers & Applications

The growing demand for sustainable and green energy resource management, along with an increase in government mandates worldwide, has influenced the demand for EMS. The global energy management systems market is expected to progress at a growth rate of 15.91% during the forecast period 2022-2028.

EMS allows facilities to control their energy consumption patterns, putting managers in charge of measuring, monitoring, and regulating these systems. With proper installation, maintenance, and monitoring, these systems can save 10-30% of their energy. Timers, occupancy sensors, programmable thermostats, photocells, and PLCs are some of the most prevalent energy management equipment.

Growth Trends and Key Challenges

With the growing world population and rise in living standards, there is a need for major advances in energy supply and efficiency while overcoming the risks relating to climate change. As organizations focus on energy conservation, the need for energy management systems increases. The following factors are responsible for the market’s advancement:

Energy issues such as greenhouse gas emissions, access to electricity, carbon footprints and others are the most important challenges confronting the world today. In 2021, IEA predicted that the global energy demand would increase by 4.6%, with a 4.5% increase in electricity demand. The global energy-related carbon dioxide emissions rose 6% in 2021 to 36.3 billion tons.

The adoption of smart grids and smart meters has become a trend. United States EPA’s smart growth program helps communities to improve their development practices and encourage strategies to protect the environment. Increased smart grid service usage, industrial competition, and demand from emerging economies are some of the primary reasons for market growth.

Governments worldwide have urged organizations and institutions to implement energy-saving measures through policies and various incentives, helping the studied market to flourish. As per IEA, in 2021, the government policies were expected to increase the investments in energy efficiency by 10% to reach nearly $300 billion.

The EMS technology is related to building management systems, which involve the use of computer systems. It helps to control and monitor facilities in buildings that consume significant amounts of energy, such as HVAC systems and lighting installations. The scope of implementation can range from a single building to university campuses, office buildings, or factories.

However, the energy management system market may face challenges due to a shortage of skilled professionals, a lack of awareness among stakeholders and non-standardized guidelines, which can stifle market growth. Additionally, the high initial cost is the major challenge faced by the market. However, the return on investment can be achieved in less time with proper awareness and usage, which will hinder the market’s prospects.

The Application of SCADA in Electric Power Grids

SCADA, or Supervisory Control and Data Acquisition, is a software application program that obtains real-time information from remote locations to control operational conditions and equipment. SCADA in electric power grids results in improved security, optimal energy consumption, reduced transmission loss. The use of SCADA in various market segments paves the way for the market’s flourishment, such as:

In the end-user segment, the healthcare sector is growing at a CAGR of 16.28%. The increasing investments in the sector are due to commercializing of innovative products like SCADA and advanced monitoring sensors. These are used in EMS solutions for better maintenance of facilities, such as sensors and electrodes for diagnosis, to provide quality care and treatment to patients.

Software is the fastest-growing component in terms of revenue. The monitor and control functions in EMS software are known as SCADA, accustomed to several online applications. The software provides utility bill tracking, real time metering and lighting control systems, carbon reporting, building simulation and modeling and demand response.

Developments by Competitors

A buyer can choose from several players in the market, such as IBM Corporation, General Electric Company, Honeywell International Inc, Schneider Electric, etc. These organizations have been at the forefront of implementing energy management systems, with recent developments including:

In August 2021, Mitsubishi acquired smarter grid solutions to strengthen both companies’ distributed energy resources management solutions. It will expand the reach of the energy management enterprise software of Smarter Grid Solutions to distributed energy resource customers around the world.

In February 2022, Actis Technologies launched Integrated EMS to save energy costs. This includes lighting control, green building systems and LED lighting fixtures.

Johnson Controls and Pelion partnered in August 2021. The former is expected to leverage Pelion’s connected device platform for the IoT device management services, simplifying the monitoring of edge devices.

FAQ

Q1) What is the growth of the energy management systems market in terms of revenue?

The global energy management system market was valued at $8777.66 million in 2021 and is expected to reach $24453.90 million by 2028.

Q2) What are segments covered in the energy management systems market?

Type, components and end-users are the main segments covered in the energy management systems market.

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Energy management is the strategic process of monitoring, controlling, and optimizing energy consumption within an organization, system, or facility. It involves the use of technologies, policies, and practices to improve energy efficiency, reduce costs, and minimize environmental impact. 

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The global Energy Management Systems Market in terms of revenue was estimated to be worth $44.19 billion in 2024 and is poised to reach $84.34 billion by 2029, growing at a CAGR of 13.8% from 2024 to 2029 according to a new report by MarketsandMarkets™. The global EMS market is mainly pushed through the increasing emphasis on power efficiency and the growing need to reduce operational prices across diverse industries. As energy expenses keep to differ and regulatory pressures accentuate, organizations are in search of advanced solutions to optimize strength intake, improve productivity, and reduce carbon emissions. EMS solutions offer actual-time monitoring, predictive analytics, and automation abilities that permit organizations to manipulate their energy utilization more efficiently, main to big cost financial savings and more advantageous sustainability. This demand for electricity efficiency is specially robust in strength-in depth sectors which includes manufacturing, utilities, and industrial actual property, wherein the implementation of EMS can result in sizeable financial and environmental advantages.

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Innovating the Thermal Management System Market

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Distributed Energy Resource Management System Market: Assessing Market Dynamics

Global Distributed Energy Resource Management System market is expected to grow, owing to the growing focus on energy efficiency and the increasing demand for renewable energy throughout the forecast period.

According to TechSci Research report, “Distributed Energy Resource Management System Market - Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028F”, the global distributed energy resource management system market is expected to register 15.48% CAGR during the forecast period, owing to rising government initiatives for residential buildings, power consumption, and the demand for effective energy management systems that maintain grid dependability and flexibility of the distributed energy source, along with the growing penetration of renewable energy sources.

Recent developments in DERMS include an increase in the use of sophisticated analytics, a rise in cloud use, appearance of blockchain-based solutions, and a sharper focus on cybersecurity. Advanced analytics are being used more frequently by energy suppliers to improve the efficiency of their distributed energy supplies. For instance, machine learning algorithms can be used to forecast patterns of energy consumption and modify the distribution of energy resources accordingly. Energy providers may now manage their distributed energy supplies more effectively and economically, thanks to cloud computing. Cloud-based solutions can automate repetitive activities, provide remote monitoring, control of dispersed energy resources, and provide real-time visibility into energy usage.

Global Distributed Energy Resource Management System Market is segmented based on software, application, end-user, and region. Based on software, the market is divided into virtual power plant, management & control, and analytics. Based on application, the market is divided into solar PV, energy storage, wind, EV charging stations, and others. Based on end-user, the market is fragmented into residential, commercial, and industrial. Based on region, the market is further bifurcated into North America, Asia-Pacific, Europe, South America, Middle East & Africa.

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Based on application, Solar PV segment is expected to dominate the market during 2022. Solar PV is one of the biggest distributed power sources in the world and can be put on rooftops or the ground. The average installed cost (USD/Kilowatt) is likely to decline, and an increase in installed capacity is anticipated to drive the distributed energy resources management system market. To avoid reverse flows and high local voltages, distributed energy resource management systems limit photovoltaic (PV) output in real-time.

Additionally, distributed generation is economically feasible because it requires significantly less capital investment than a comparable traditional facility. Distributed solar PV is being driven internationally by tax incentives for both solar power plants and distributed solar generation. The installed solar PV capacity worldwide in 2020 was 707.49 GW. Moreover, India has revealed plans to spend an additional USD 2356.70 million to increase domestic production of solar modules in order to achieve its ambitious goal of producing 280 GW of solar-fired electricity by 2030. Solar PV investments increased dramatically in the US due to business purchases. Such factors are expected to drive the Solar PV segment during 2022, as well as during the forecast period.

Key market players in the global distributed energy resource management system market are:

General Electric Company

Siemens AG

ABB Ltd

Schneider Electric SE

Engie SA

AutoGrid Systems Inc.

Doosan Corporation

Open Access Technology International Inc.

Mitsubishi Electric Corporation

Emerson Electric Co.

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"Expenditures in distributed energy resource management systems are expected to increase in response to the challenges faced by North America's power sector, including difficulties in meeting energy efficiency targets, adhering to federal carbon regulations, and effectively integrating diverse sources of distributed energy generation. This rise in spending is anticipated to increase as the region aims to become the dominant player in electricity demand.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Distributed Energy Resource Management System Market – Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018-2028F Segmented By Software (Virtual Power Plant, Management & Control, and Analytics), By Application (Solar PV, Energy Storage, Wind, EV Charging Stations, and Others), By End-User (Residential, Commercial, and Industrial), By Region,” has evaluated the future growth potential of Global Distributed Energy Resource Management System marketand provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Distributed Energy Resource Management System market.

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Global Distributed Energy Resource Management System Market Surges to $ 1540.65  Million in 2030, Fueled by Growing Embrace of Sustainable Solutions

A pivotal technology for businesses striving for efficient energy utilization is the Distributed Energy Resource Management System (DERMS). This integrated platform facilitates seamless control and optimization of various energy sources, including solar panels, wind turbines, and storage systems. DERMS empowers businesses to intelligently manage energy generation, consumption, and storage across distributed assets, contributing to grid resilience and reducing operational costs. Providing real-time monitoring and predictive analytics ensures optimal performance, mitigates grid congestion, and enhances overall energy reliability. This technology aligns with sustainable business practices, enabling enterprises to effectively leverage renewable resources and contribute to environmental goals. The market's growth is driven by the increasing adoption of renewable energy sources and the demand for streamlined management of distributed energy resources. As industries embrace sustainable practices, DERMS emerges as a key player in orchestrating and optimizing the integration of diverse energy assets, fostering a more resilient and sustainable energy landscape.

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The Distributed Energy Resource Management System (DERMS) market experiences growth fueled by the surge in demand for clean and sustainable energy solutions. Businesses increasingly adopt DERMS to optimize the integration of diverse energy sources, enhance grid resilience, and meet sustainability targets. With a rising emphasis on carbon reduction and energy efficiency, DERMS facilitates intelligent control of distributed assets, propelling the market forward. Regulatory incentives and the imperative to reduce reliance on traditional energy grids further accelerate DERMS adoption. As businesses prioritize environmental responsibility, DERMS becomes a key driver in reshaping the energy landscape towards a more sustainable future. Additionally, the increasing adoption of renewable energy sources and the need for grid modernization contribute to DERMS's significance. As businesses strive to meet sustainability targets and reduce carbon footprints, DERMS serves as a critical enabler by optimizing the integration of renewable assets.

Moreover, the growing complexity of energy grids, coupled with the rise in distributed generation, elevates the need for advanced management solutions. DERMS offers businesses a strategic tool to enhance grid reliability, optimize energy use, and adapt to evolving regulatory landscapes, making it a key driver in the pursuit of a resilient and sustainable energy future. However, integration challenges and interoperability issues pose significant restraints for the Distributed Energy Resource Management System market. Furthermore, the growing demand for decentralized and sustainable energy solutions presents a significant opportunity for the expansion of the distributed energy resource management system market.

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In the upcoming forecast period, North America is anticipated to hold the most prominent market share. The region's supremacy is attributed to factors such as robust adoption of renewable energy sources, government incentives promoting clean energy initiatives, and a well-established grid infrastructure. With a heightened focus on grid modernization and resilience, businesses in North America are increasingly investing in DERMS to optimize the integration of diverse energy resources.

Additionally, the region's supportive regulatory environment and proactive approach toward sustainable energy practices position North America as a key player in driving the growth of the DERMS market. Moreover, Asia-Pacific stands out as the fastest-growing region for the Distributed Energy Resource Management System (DERMS) market in the forecast period. The region's rapid economic growth, coupled with increasing urbanization and a strong emphasis on sustainable energy solutions, is driving the adoption of DERMS technologies. Governments across Asia-Pacific are actively promoting renewable energy integration, leading to a surge in distributed energy resources. Additionally, the need for efficient grid management and the rising awareness of environmental concerns are propelling the demand for DERMS solutions. With a conducive regulatory environment and a focus on clean energy, the Asia-Pacific region offers fertile ground for the accelerated growth of the DERMS market.

Key Market Players:

ABB

Schneider Electric

Siemens

GE DIGITAL

ENGIE

ITRON

Emerson Electric Co

Oracle

Mitsubishi Electric Power

Spirae

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The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the distributed energy resource management system market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.

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Home Energy Management Systems Market Size, Business Strategy and Regional Analysis by 2028

IMARC Group has recently released a new research study titled “Home Energy Management Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios. How big is the home energy management…