Energy Management System Market Size

Energy Management System Market Size

Energy Management System Market size was valued at USD 37.8 billion in 2023 and is anticipated to grow at over 6.8% CAGR from 2024 to 2032. An energy management system (EMS) integrates computer-aided tools deployed by operators across electric utility grids with an aim to monitor, optimize, and control, the performance of the generation and transmission infrastructure. The energy scarcity coupled with the demand & supply mismatch accompanied by electricity losses will fuel the need for energy efficiency devices including Energy Management Systems (EMS). Rising concerns related to unplanned power outages coupled with government norms and mandates to conserve electrical energy will drive the market growth.

To get key market trends

  Download Free Sample

A substantial influx of digital technologies including Internet of Things (IoT) coupled with rising demand for energy management devices including Programmable Logic Controller (PLC), Supervisory Control and Data Acquisition (SCADA), Outage Management Systems (OMS) and Distribution Management System (DMS) will positively influence the business scenario. The devices enable planning & operation of control methods to optimize the energy production and consumption. They further aid in the effective management by reducing the overall losses & costs associated with energy consumption. The energy optimization is achieved by deploying advanced software and control systems that regulate consumption levels at economical rates.