The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The market for energy management systems is anticipated to expand due to the rising use of smart grids and smart metres.

The global energy management systems market is expected to grow from $43.26 billion in 2022 to $49.88 billion in 2023 at a compound annual growth rate (CAGR) of 15.3%. The global energy management systems market size is expected to grow to $87.95 billion in 2027 at a CAGR of 15.2%.

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Global Energy Management Systems Market Segments Include:

• By Type: Home Energy Management Systems, Building Energy Management Systems, Industrial Energy Management Systems
• By Component: Hardware, Software, Services
• By Deployment: On-Premise, Cloud Based
• By End-User: Power and Energy, Telecom and IT, Manufacturing, Residential and Commercial, Food and Beverages, Other End-Users
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global energy management systems market in 2021.

Major Market Players in the energy management systems market include Schneider Electric SE, ABB Ltd., Eaton Corporation Plc., Cisco Systems Inc., GE Digital, Emerson Electric Co., Honeywell Building Technologies, Siemens AG, IBM Corporation, Mitsubishi Electric Corporation.

A important trend that is becoming more and more popular in the market for energy management systems is technological improvement. To maintain their market share, major players in the energy management systems industry are creating cutting-edge technology. For instance, the Phantom Edge platform, based on AIoT (Artificial Intelligence of Things), was introduced by Robert Bosch Engineering and Business Solutions (RBEI), a German IT service management company, in May 2021. It provides real-time data on electrical energy consumption, operating usage, electrical parameters, and appliance level information. The platform can be utilised for commercial, residential, healthcare, agricultural, and retail applications that require real-time energy monitoring.

The Energy Management Systems Global Market Report 2023  provides a energy management systems market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The energy management systems market forecast analyzes energy management systems market size, energy management systems market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An integrated system made up of software that can control, monitor, and store energy parameters, analyse energy usage, and analyse energy waste is referred to as an energy management system. These are used for managing and optimising the energy usage of various electronic devices like fans, pumps, and other devices, and are integrated with cutting-edge technologies like artificial intelligence and the Internet of Things to improve the effectiveness of the energy management system and make it more insightful for customers.

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