2028 Global Energy Management System Market Development Status, Competition Analysis, Type and Application
2021 - 2028 Global Energy Management System Market
The Global Energy Management System Market is accounted for $76.75 billion in 2021 and is expected to reach $288.10 billion by 2028 growing at a CAGR of 20.8% during the forecast period. Energy management systems (EMS) are one of the emerging technologies that enable an organization to collect real-time information on the energy use through monitoring, assessing, and visualizing energy consumption. It is gaining popularity since they help gain competitive advantage, increase productivity, and reduce energy cost. In addition, the government policies toward energy conservation and the limited availability of fossils is drawing attention of the market players. The building energy management system (BMS) segment is expected to be the largest during the forecast period, due to rising preference toward implementation of energy efficient systems primarily across commercial establishments and increasing focus pertaining to monitoring & analyzing real time energy consumption, load fluctuations and equipment performance. North America is projected to hold the largest market share owing to the introduction of energy codes, minimum energy performance standards (MEPS) and execution of government’s aim to achieve energy intensity targets. Asia Pacific is projected to have the highest CAGR due to the government’s initiative towards improving the manufacturing capabilities through application of smart solutions, rapid urbanization, and fast growing industrial segment.
Some of the key players profiled in the Energy Management System Market include ABB Group, Schneider Electric SE, Siemens AG, Honeywell International Inc., Toshiba Corp., General Electric, Daikin Industries Ltd, Johnson Controls, Inc, International Business Machines Corporation, Emerson Process Management, Elster Group GmbH, Jones Lang LaSalle, GridPoint, Inc, C3 Energy, and Daintree Networks.
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