Energy Management Systems Market Skyrockets to $105.2 Billion by 2031 | CAGR of 11.4% | Exclusive Report by The Insight Partners

Energy Management Systems Market research includes key company profiles like ABB; Schneider Electric SE; General Electric Company; Honeywell International Inc.; Siemens AG; IBM Corporation; Johnson Controls, Inc.; Emerson Electric Co.; Eaton Corporation; and Mitsubishi Electric Corporation

/EIN News/ -- US & Canada, April 02, 2025 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, “the global Energy Management Systems Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Hardware, Software, Services), System Type (Industrial Energy Management System, Building Energy Management System, Home Energy Management System), End-Use Industry (Energy and Utilities, Manufacturing, Telecom and IT, Residential and Commercial, Others), and Geography”.

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The report runs an in-depth analysis of market trends, key players, and future opportunities. The Energy Management System Market analysis focuses on a vast array of end-use that are expected to determine market strength in the coming years.

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Market Overview and Growth Trajectory:

Energy Management Systems Market Growth: The Energy Management System Market was valued at US$ 49.5 billion in 2024 and is projected to reach US$ 105.2 billion by 2031; it is expected to register a CAGR of 11.4% during 2024–2031. The global Energy Management System Market is observing substantial growth and is expected to maintain its upward trend in the foreseeable future. This growth is attributed to the increasing focus on the rising demand of renewable energy. By 2030, the US government targets to decrease net GHG emissions by ~50–52% compared to 2005 levels and achieve net zero emissions by 2050. In addition, the governments of different countries across Asia Pacific have targeted to increase renewable power generation installations, which is likely to boost the demand for energy management systems in the region. For instance, in 2023, the government of India released a notification of bids for 50 GW of renewable energy capacity annually for the next 5 years to reach its 300 GW worth target by 2030. Similarly, the Japanese government has targeted to increase its offshore wind capacity from 0.14 GW in 2022 to 10 GW by the end of 2030. China has been moving 6 years ahead of its 2030 renewable energy targets, wherein installations of these systems have already been completed in 2023. Energy management systems efficiently integrate renewable energy into modern power grid systems, manage energy flow and consumption during power outages, and monitor electricity consumption. Thus, the rising concerns regarding greenhouse gas emissions are boosting the investment in renewable power generation, propelling the demand for energy management systems.

Growing Renewable Energy Industry: Power generation using fossil fuels is a key contributor to greenhouse gas (GHG) emissions that lead to climate change. Hence, several governments across the globe are focusing on reducing their carbon footprints and transitioning toward clean energy, propelling them to invest in green energy production. The utilization of solar and wind energy is increasing due to rising focus on using clean and green energy, increasing climate change concerns, and rising government initiatives toward encouraging the usage of renewable energy. As per the International Energy Agency (IEA), global renewable electricity generation is forecast to rise to over 17,000 terawatt hours (TWh) by the end of this decade, an increase of almost 90% than 2023; this is expected to meet the combined electricity needs of China and the US in 2030. Several renewable energy milestones are expected to be achieved over the next five years. In 2025, electricity generation from renewable energies is expected to overtake coal-fired power generation. In 2026, wind and solar power generation is expected to exceed nuclear power generation. Then, in 2029, electricity generation from solar PV is expected to surpass hydropower generation and become the world's largest renewable energy source – and similarly wind power generation expected to surpass hydropower in 2030.

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Increasing Trend of Adopting Home Energy Management Systems: The potential for home energy management systems (HEMS) is undeniable. For example, as the number of electric vehicles and the number of electric vehicle chargers is increasing, especially with the EU target of 2035 with the ban on new internal combustion engine (ICE) sales on the horizon, HEMS may coordinate the charging schedules of these vehicles in line with low price periods or high solar power production and thus minimizes costs and emissions. Additionally, bi-directional charging can transform electric vehicles into flexible emergency power sources for the home. In many ways, the gateway to self-generation starts with solar energy – specifically PV modules. The versatility of photovoltaic (PV) systems makes them suitable for single-family homes and apartments. Excess PV electricity can be stored in a battery for use at night or in case of power outages, on cloudy days, or in times of high energy costs, high network costs, and traffic jams which increases the demand for energy management systems in these applications.

A stable economy, developed infrastructure, and high technology adoption rate make Canada suitable for any technologically driven market such as energy management systems. The Canadian government is implementing favorable policies to boost the local production of semiconductors, batteries, etc. In March 2023, the Canadian government announced an investment of approximately US$ 36 million into Ottawa-based Ranovus Inc. through the Strategic Innovation Fund (SIF). In February 2022, the Canadian government invested approximately US$ 189 million to bolster the research and manufacturing operations in the semiconductor & electronics sector. Such initiatives favor the electricity demand, thereby increasing the need for energy management systems to fulfill the goal of energy conservation set by the government. In addition, Canada is one of the world's largest oil and gas producers; ~1,000 oil & gas exploration and production companies are operating in the country. Canada exports oil and gas to the US to meet its growing energy demand. As per the Canadian Centre for Energy Information, capital expenditure in the power sector reached US$ 92 billion in 2023; with a spending of US$ 39.2 billion, oil and gas extraction accounted for the largest share of the total energy sector spending. Several oil and gas utilities consume energy for various operations in the upstream, midstream, and downstream sectors which is anticipated to drive the demand for energy management systems from the oil and gas industry from 2024 to 2031.

Geographical Insights: In 2024, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific. Further, Asia Pacific is expected to register the highest CAGR during the forecast period.

Energy Management Systems Market Segmentation, Applications, Geographical Insights:

• Based on component, the Energy Management Systems market is segmented into Hardware, Software, Services. The hardware segment held the largest share of the market in 2024.
  
  
• Based on system type, the Energy Management Systems market, is divided into Industrial Energy Management System, Building Energy Management System, Home Energy Management System. The industrial energy management system segment held a larger share of the market in 2024.
  
  

• Based on end-use industry, the Energy Management Systems market is divided into energy and utilities, manufacturing, telecom and IT, residential and commercial, others. The manufacturing segment held a larger share of the market in 2024.
  
  

Key Players and Competitive Landscape:

The Energy Management Systems Market is characterized by the presence of several major players, including:

• ABB
• Schneider Electric SE
• General Electric Company
• Honeywell International Inc
• Siemens AG
• IBM Corporation
• Johnson Controls, Inc.
• Emerson Electric Co.
• Eaton Corporation
• Mitsubishi Electric Corporation

These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.

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Energy Management Systems Market Recent Developments and Innovations:

• "ABB launches ABB Ability OPTIMAX 6.4, the latest version of its flagship digital energy management and optimization system.”
  
  
• “Schneider Electric, a leader in the digital transformation of energy management and next-gen automation, has formed a strategic partnership with Noida International Airport.”
  
  
• “GE Aviation has selected BAE Systems to design, test and supply energy management components.”
  
  

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Conclusion:

The key stakeholders in the Energy Management System Market are energy management systems/software providers, system integrators or service vendors, and end users. Energy management has become a strategic priority for many companies striving to achieve sustainability goals. In addition, energy management helps companies balance economic, environmental, and operational factors to optimize energy consumption, reduce costs, and minimize environmental impact. Moreover, an energy management system (EMS) enables companies to leverage data-driven insights and advanced controls to identify and implement successful energy usage strategies. Energy management systems consist of components such as smart panels, consumption monitoring systems, smart circuits, and smart meters. The ecosystem of the Energy Management System Market also includes software providers that provide metering, energy management, renewable energy, and building automation software.

The report from The Insight Partners, therefore, provides several stakeholders—including component providers, system technology integrators, system manufacturers, and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

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