Market Leaders : Energy Management Systems Market
The energy management systems market is estimated to be USD 40.7 billion in 2023 to USD 75.6 billion by 2028, at a CAGR of 13.2% during the forecast period. The factors that drive the market growth include the Increased energy usage and price volatility, rising installation of smart grids and smart meters, and government initiatives to combat climate change and improve energy efficiency.
The energy management systems market is dominated by a few globally established players such as ABB (Switzerland), Siemens (Germany), Schneider Electric (France), General Electric (US), and Emerson (US). These players have adopted various growth strategies such as partnerships, agreements, collaborations, and new product launches to increase their presence in the global market.
To know about the assumptions considered for the study download the pdf brochure
ABB (Switzerland) held the majority of the global energy management systems market share in 2022. ABB strengthened its portfolio of energy efficiency devices in India with a new range of smart metering solutions for efficient energy management. It commits to establishing energy efficiency targets and continues to deploying energy management systems at its sites in EP 100 target. ABB offers products, solutions, and services related to energy management under the Electrification segment. It offers miniature breakers, distribution enclosures, wiring accessories, and building automation under Smart Buildings.
Schneider Electric (France) followed in second place with an extremely huge product portfolio. The company also has global operations and generates the remaining revenue from the Middle East, Asia Pacific, South America, North America, and Africa. The company’s revenue grew organically by 12.7% to USD 34.3 billion in 2021, from USD 22.1% in 2020. It achieved this by focusing on prices under inflationary pressures and continued progress on operational efficiency plans. The strong operational performance, coupled with a reduction in restructuring costs, and a reduction in restructuring costs resulted in net incomes of USD 3.4 billion, an increase of 51% over 2020.
Siemens (Germany) is considered to have the third largest share in the energy management systems market. Siemens mostly primarily focuses on strengthening its market position through product launches, partnerships, and acquisitions. In October 2021, Siemen’s Smart Infrastructure acquired French IoT startup Wattsense to expand its offerings within the building’s energy management and automation, automation, and French markets. Siemens invested 7.9% of its total revenue in R&D in 2021, which is one of the key strategic choices adopted by Siemens.
General Electric (US) is considered to have the forth largest share in the energy management systems market. General Electric strategically focuses on sales contracts, partnerships, and contracts to strengthen its market position. For instance, in April 2021, General Electric Digital, a subsidiary of General Electric, signed a sales contract with Petroleum Development Oman (PDO) to supply its Advanced Energy Management Systems (AEMS). The AEMS software is designed to enableenables PDO to plan, control, and optimize renewable power generation to help keep its oil production plants operating reliably and efficiently.
Another important player in energy management systems market is Emerson (US) which focuses on several deals such as acquisition. For instance, in Aug 2022, in an all-cash transaction, Emerson acquired Open Systems International, Inc. (OSI Inc.) for USD 1.6 billion. OSI Inc. is a leading operations technology software provider that broadens and complements Emerson’s robust software portfolio and improves energy efficiency and reliability.
Related Reports:
Energy Management Systems Market by Component, Type (Home Energy Management Systems, Building Energy Management Systems, Industrial Energy Management Systems), Deployment, End-User Industry and Region - Global Forecast to 2028
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
SEND ME A FREE SAMPLE
