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Energy Management System Market Trends

Report ID: GMI1115
Published Date: Jul 2023
Report Format: PDF

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Energy Management System Market Trends

Increasing demand for residential establishments coupled with positively outlook toward commercialization & industrialization will drive the market size. Moreover, primary growth is set to originate from non-OECD countries, particularly Asia Pacific. As per the IEA, in 2018, robust economic growth, rising demand for power & slow efficiency gains contributed to 1.9% increase in CO2 emissions. Therefore, rising pollution and stringent ISO 50001 directive with an aim to promote energy efficiency will propel the product penetration over the forecast timeframe.

Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of energy management system was reached USD 37.8 billion in 2023 and is set to record 6.8% CAGR through 2032, owing to the energy scarcity coupled with the demand & supply mismatch.

The BEMS market is expected to exceed USD 27 billion by 2032, backed by the growing EMS demand in residential, industrial, and commercial sectors, along with rapid urban infrastructural development.

Asia Pacific market is anticipated to surge at a CAGR of over 7% from 2023 to 2032, attributed to the rising smart building initiatives across countries including South Korea, India, and Indonesia.

Emerson Electric Co., Dexma Sensors SL, Telkonet, Inc., GridPoint, Rockwell Automation, Inc., SkyFoundry, Optimum Energy LLC., eSight Energy, Schneider Electric, Honeywell International Inc., and International Business Machines Corporation (IBM).