Market revenue in 2023 | USD 46,636.1 million |
Market revenue in 2030 | USD 111,862.4 million |
Growth rate | 13.3% (CAGR from 2023 to 2030) |
Largest segment | Industrial energy management system (iems) |
Fastest growing segment | Building energy management system (BEMS) |
Historical data covered | 2018 - 2022 |
Base year for estimation | 2023 |
Forecast period covered | 2024 - 2030 |
Quantitative units | Revenue in USD million |
Market segmentation | Industrial energy management system (IEMS), Building energy management system (BEMS), Home energy management system (HEMS) |
Industrial energy management system (iems) was the largest segment with a revenue share of 74.5% in 2023. Horizon Databook has segmented the Global energy management systems market based on industrial energy management system (iems), building energy management system (bems), home energy management system (hems) covering the revenue growth of each sub-segment from 2018 to 2030.
Regional governments worldwide have passed several rules and regulations to lower energy use and raise energy conservation awareness. In applications including the industrial, commercial, and residential sectors, these rules and laws act as a driving factor for the EMS business.
Governments from several nations are attempting to decarbonize, which entails various procedures. At the national level, other policies are in place to restrict energy use and, therefore, carbon emissions from the use of power. Today, many companies use environmental sustainability to differentiate themselves from competitors, offering them a competitive edge and helping to develop a strong brand image. EMS solutions will help businesses in their attempts to conserve energy.
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