Smart Grid and EMS Transforming the Global Energy Management Industry

NEW YORK - Oct. 29, 2024 - PRLog -- The global market for energy management systems (EMS) is on a growth trajectory, anticipated to reach USD 111.2 billion by 2030. This surge is primarily driven by the widespread adoption of EMS in building automation, strict government mandates, fluctuating electricity prices, and a variety of incentives.

The increased focus on managing electricity consumption across industrial, commercial, and public sectors; advancements in energy-efficient technology; and the digitization of utility operations are further propelling industry growth. Recently, the service segment has claimed a significant revenue share and is expected to lead the market in the coming years, primarily due to the growing demand for effective EMS integration in residential and corporate settings worldwide. This trend is also fueled by building owners seeking comprehensive control over their EMS, heightened awareness of energy efficiency, and the need for location-specific energy monitoring.

The electric power industry is undergoing a global transformation, aiming to upgrade existing infrastructure and better manage natural resources through advanced information and communication technologies. Smart grid systems now enable consumers to save energy more easily and benefit from enhanced reliability. Additionally, smart meters provide data that helps identify equipment issues and streamline billing.

The manufacturing sector, which accounted for over 22% of the market share in recent years, is poised to retain its lead as one of the most extensive energy users, with EMS solutions in high demand to manage diverse energy sources and ensure uninterrupted power.

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North America held the largest market share in 2022, representing 36% of revenue. This dominance is expected to continue, driven by extensive EMS application across residential, commercial, and industrial settings, as well as the growing adoption of EMS for residential use due to increasing awareness and affordability among target populations.

In summary, the energy management system market's growth is fueled by increased EMS adoption due to electricity price volatility, government regulations, building automation, and multiple incentives.