Energy Management Systems Market

1. Analysis of Energy Management Systems Market Size by Research Nester Reveals the Market to Grow with a CAGR of ~ 17.20% During 2023-2035 and Attain ~USD 266.03 Billion by 2035 Research Nester assesses the growth and market size of the global energy management systems market which is anticipated to be on account of the growing number of government policies for energy conservation along with the rising scarcity of fossils owing to their high consumption for the generation of energy. New York – May 15, 2023 - Research Nester’s recent market research analysis on “Energy Management Systems Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of the global energy management systems market in terms of market segmentation by applications, type, component, end users, and by region.

2. Increasing Utilization of Renewable Energy to Promote Global Market Share of Global Energy Management Systems The global energy management systems market is estimated to grow majorly on account of the growing use of renewable energy sources. According to the findings of the Energy Information Administration, renewable energy sources accounted for around 12.4% of total primary energy consumption in the United States in the year 2021. With a global shift towards renewable sources owing to environmental concerns there is a surge in the demand for energy management systems as these solutions reduce energy costs and increase productivity. The increasing employment of this system by commercial, industrial, and public sector organizations to manage their energy consumption, and reduce costs is further anticipated to propel the energy management system market over the projected period.

3. Some of the major growth factors and challenges that are associated with the growth of the global energy management systems market are: Growth Drivers: Increasing Fluctuation in the Prices of Energy · Augmenting Installation of Smart Meters · Challenges: The requirement for high investment for the installation of energy management systems is restricting its adoption in many small-scale industries that are unable to bear the cost of the energy management system. Moreover, slow government procedures and lack of required efforts from their end are also some of the major factors expected to hamper the global market size of energy management systems. Access our detailed report at: By type, the global energy management systems market is segmented into building, home, and industrial energy management systems. The home segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The growth of the segment is backed by the increasing adoption of digital technologies along with a growing number of smart homes globally that are equipped with energy management systems. As per recent data, it is predicted that more than 400 million smart homes will exist around the globe by the end of the year 2025. Smart homes help reduce energy consumption for applications such as air conditioning, and other lighting purposes, as well as improve

4. efficiency with the adoption of many smart sensor technologies. All such factors are predicted to boost the growth of the segment in the upcoming years. By region, the North American energy management systems market is to generate the highest revenue by the end of 2035. This growth is anticipated owing to the rising investment in sustainable energy in the region especially in the U.S. with changing energy regulations. For instance, it is observed that public benefit funds (PBF) for renewable energy are set up and used by the states in the USA to invest in clean energy supply for the public. In addition to this, the increasing acceptance and utilization of renewable energy among the countries in the North American region together with increasing investment in advanced energy management systems by several industry giants to reduce energy wastage is further estimated to support the market growth. According to the data of 2019 released by the OECD, 8% of the total primary energy consumed in the United States was derived from renewable energy sources. Consult our expert analysts at: info@researchnester.com or contact us at: https://www.researchnester.com/contact for any customized report. This report also provides the existing competitive scenario of some of the key players of the global energy management systems market which includes company profiling of Mitsubishi Electric Corporation, IBM Corporation, Cisco Systems, Inc., Honeywell International, Inc., General Electric Company, ABB Ltd., Siemens AG, Hitachi, Ltd., Emerson Electric Co., Eaton Corporation plc, and others.

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