Europe Energy Management Systems Market Size, Share & Industry Trends Analysis Report By Component (Solution and Services), By Type, By Application, By End User, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Europe Energy Management Systems Market would witness market growth of 15.1% CAGR during the forecast period (2022-2028).
EMS is being used for various end applications, such as houses, buildings, and industries. EMS systems are made up of software, hardware, and services components that allow customers to track energy usage and production, control it manually, and automate it inside their facility. The penetration of these systems is rapidly increasing all over the world due to the increasing concerns about excess electricity concerns. In addition, due to the increasing adoption of technology all over the world, various businesses are widely utilizing energy management systems.
Organizations have been able to collect data through monitoring, analyzing, and visualizing energy use due to energy management systems. Additionally, the energy management system business is also being driven by energy price volatility and policy & regulatory duties.
Firms such as IBM Corporation, Honeywell International Inc., and Schneider Electric have incorporated data analytics software into their existing EMS modules to ensure that data is monitored efficiently. These companies have also created and launched sector-specific EMS software platforms to help businesses regulate and supply efficient solutions, which are anticipated to boost the scalability of novel products in the EMS market.
The European Union set a goal of ensuring that 80 percent of EU consumers adopt smart meters by the end of 2020 in order to combat climate change and improve energy efficiency. The United Kingdom is one of the early adopters due to favorable energy policies and laws aimed at decreasing the country's carbon footprint through energy-efficient buildings and systems, and smart meter rollouts. The Department of Energy and Industrial Policy is in charge of the country's rollout plan. According to the National Audit Office (NAO), the UK is on pace to eliminate the smart meter installation process by 2020. By the end of 2018, the United Kingdom has deployed more than 12.5 million smart meters. Additionally, the country has a positive cost-benefit analysis due to its large population density as well as high connectivity.
The Germany market dominated the Europe Energy Management Systems Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $7.1 billion by 2028. The UK market is anticipated to grow at a CAGR of 14.1% during (2022 - 2028). Additionally, The France market would showcase a CAGR of 16% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Type, the market is segmented into Industrial, Building, and Home. Based on Application, the market is segmented into Commercial and Residential. Based on End User, the market is segmented into Energy & Utilities, IT & Telecom, Manufacturing, Retail, Healthcare & Life Sciences, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric (GE) Co., Siemens AG, Yokogawa Electric Corporation, Honeywell International, Inc., Schneider Electric SE, DEXMA Sensors, SL, Delta Electronics, Inc., Johnson Controls International PLC, C3.ai, Inc., and GridPoint, Inc.
Scope of the Study
Market Segments Covered in the Report:
By End User
- Energy & Utilities
- IT & Telecom
- Healthcare & Life Sciences
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- General Electric (GE) Co.
- Siemens AG
- Yokogawa Electric Corporation
- Honeywell International, Inc.
- Schneider Electric SE
- DEXMA Sensors, SL
- Delta Electronics, Inc.
- Johnson Controls International PLC
- C3.ai, Inc.
- GridPoint, Inc.
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