Energy Management System Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Energy Management System Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Energy Management System Market


The energy management system market size was valued at USD 37.76 billion in 2023, and the market is now projected to grow from USD 35.90 billion in 2024 to USD 112.32 billion by 2032, exhibiting a CAGR of 15.3% during the forecast period of 2024-2032.

COVID- 19 pandemic has tremendously affected the complete world. The global COVID-19 pandemic blocked industrial activities by altering the energy demand patterns. The end of major industries and manufacturing plants led to a significant drop in energy as well as electricity demand across the world. The pandemic condensed energy consumption by big industries such as oil, coal, and natural gas.

IoT is a developing technology that can be used to proficiently manage energy consumption in the industrial, commercial, and housing sectors in smart surroundings. The integration of IoT with the energy and power sector is bringing smart infrastructure improvements to decrease the complex energy crisis. It also targets to reduce human interference in performing critical procedures that further enhance workplace safety. Rising investments in smart projects, comprising smart farming, smart buildings, and smart cities, produce a huge demand for advanced energy management systems.

The need for smart and effectual charging solutions for electric vehicles is becoming progressively important to decrease operational costs. It usually provides ecologically friendly transportation along with lesser operational costs and also helps to diminish the strain on power generation. The usage of EV charging stations decreases the overcapacity of electrical systems, which expressively helps to save power costs and targets to augment the efficient distribution of power. Technological improvements and innovation motivate unique proceeds augmenting opportunity which will upsurge the energy management system market growth.

Comprehensive Energy Management System Market

The market can be segmented in various ways depending on the focus of study such as by end users and by application. The improvement of smart infrastructure combined with government initiatives has directed to substantial investments in commercial and residential development assignments such as smart homes, smart buildings, and smart hospitals.Based on the application, the market is divided into property safety, automation, energy distribution, design, e-mobility, and others. By end-user, the market is categorized into residential/smart homes and commercial buildings/complex. Based on the type, the market is segmented into home EMS, building EMS, and industrial EMS.

North America region is dominating the energy management system market share due to growing investments in advancing energy managing results to encourage the usage of renewable energy sources

Companies are also aiming on constant product enhancement with easy-to-operate features, which helps them to sustain competitiveness and raise their brand value. These players include General Electric Company (U.S.), IBM Corporation (U.S.), Honeywell International Inc. (U.S.), Schneider Electric SE (France), Siemens AG (Germany) , Eaton Corporation (Ireland), ABB Limited (Switzerland), Johnson Controls International PLC (U.S.), Emerson Electric Company (U.S.) , NEC Corporation (Japan) these market players are spending rigorously on investigation and development in order to arise with further new technology so that they can preserve and improve their existing market.

In February 2023, Emerson integrated its power-sector expertise and renewable energy capabilities to deploy the Ovation Green platform. The platform assisted power generation companies in meeting customer demands for green energy transition and management. It also incorporated Mita-Teknik software to augment green energy initiatives and expand sustainable operations in the market.

Segmentation Table

Attribute Details

Study Period 2019–2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024–2032

Historical Period 2019– 2022

CAGR Growth rate of 15.3% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By System Type

Home Energy Management System

Building Energy Management System

Industrial Energy Management System

By End-user

Residential/Smart Homes

Commercial Building/Complex

By Application

Property Safety

Automation

Energy Distribution

Design

e-Mobility

Others (Energy Storage)

By Industry

Oil & Gas

Manufacturing

Energy & Utilities

Automotive

Healthcare

Others (IT and Telecom, Hospitality)

By Region

North America (By System Type, End-user, Application, Industry, and Country)

-U.S. (By Application)

-Canada (By Application)

Europe (By System Type, End-user, Application, Industry, and Country)

-U.K. (By Application)

-Germany (By Application)

-France (By Application)

-Italy (By Application)

-Spain (By Application)

-Russia (By Application)

-Benelux (By Application)

-Nordics (By Application)

-Rest of Europe

Asia Pacific (By System Type, End-user, Application, Industry, and Country)

-China (By Type)

-Japan (By Application)

-India (By Application)

-South Korea (By Application)

-ASEAN (By Application)

-Oceania (By Application)

-Rest of Asia Pacific

Middle East & Africa (By System Type, End-user, Application, Industry, and Country)

-Turkey (By Application)

-Israel (By Application)

-GCC (By Application)

-North Africa (By Application)

-South Africa (By Application)

-Rest of the Middle East & Africa

Latin America (By System Type, End-user, Application, Industry, and Country)

-Brazil (By Application)

-Mexico (By Application)

-Rest of Latin America