Global Energy Management Systems Market Outlook for 2022-2028

 

 

Triton Market Research presents the Global Energy Management Systems Market report segmented by Type (Home EMS, Building EMS, Industrial EMS), by Component (Services {Maintenance, Implementation & Integration, Consulting & Training, Monitoring & Control}, Software, Hardware {Sensors, Controllers, Actuators, Thermostats, Other Hardware Components}), by End-user (Healthcare, Retail & Offices, Manufacturing, Power & Energy, Telecom & IT, Other End-users), by Geographical Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), discussing Market Summary, Industry Outlook, Market Drivers, Market Challenges, Market Opportunities, Competitive Landscape, Research Methodology & Scope, and Global Market Size, Forecasts, & Analysis (2022-2028).

Triton Market Research’s report on the Global Energy Management Systems Market states that the market would evolve at a CAGR of 15.91% over the forecasting period from 2022 to 2028.

 

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Rising environmental issues, such as natural disasters, climate change, and global warming, have resulted in increased demand for sustainable resource management for efficient energy usage. This calls for the use of energy management systems, for which a growing number of government policies have been implemented across the world. The efforts by governments worldwide are a key factor expected to bolster the growth of the studied market over the forecast period.

However, high initial costs are associated with energy management systems, including their maintenance costs. Several times, expenditures also increase due to additional equipment required. The high costs of EMS are thus expected to negatively affect the market’s development. 

Europe accounted for the largest share in the global market for energy management systems in 2021. The region is expected to maintain its dominance until the end of the forecasted period. The surging electricity demand, along with the increased use of smart grid devices, has enhanced the demand for energy management systems here.

Also, the parliament of the European Union agreed with the member states to reduce CO2 emissions by at least 55% by 2030, compared with the 1990 levels. Such stringent regulations concerning the mitigation of environmental emissions and carbon footprints are expected to foster the growth of the European EMS market during the forecast period.

Energy Hub, General Electric Company, Enel X, Uplight, C3 AI, Johnson Controls Inc, Emerson, GridPoint, Rockwell Automation Inc, Dexma, Broadcom Inc, Schneider Electric, IBM Corporation, Cisco Systems Inc, Siemens, Honeywell International Inc, and Eaton Corporation Plc are some of the notable players operating in this market.

Aspiring market players face entry barriers, such as high upfront costs, skilled personnel, the need for greater access to distribution channels, and time to establish a brand in the marketplace, coupled with the already existing competition due to the presence of industry giants. In addition, their wide geographical reach and portfolios of cutting-edge systems make it difficult for new entrants to create a space for themselves in the market. Thus, the threat of new entrants in the EMS market is considerably low.


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