Energy Management System Market to Grow at 15.3% CAGR over 2024 to 2032; Heightened Demand for Electric Vehicle Stations to Impel Industry Growth

The global energy management system market size stood at USD 31.76 billion in 2023. The market value is slated to rise from USD 35.90 billion in 2024 to USD 112.32 billion by 2032 at a CAGR of 15.3% during 2024-2032. Fortune Business Insights™ presents this information in its report titled “Energy Management System Market Size, Share & Industry Analysis, By System Type (Home Energy Management System, Building Energy Management System, and Industrial Energy Management System), By End-user (Residential/Smart Homes and Commercial Building/Complex), By Application (Property Safety, Automation, Energy Distribution, Design, e-Mobility, and Others), By Industry (Oil & Gas, Manufacturing, Energy & Utilities, Automotive, Healthcare, and Others), and Regional Forecast, 2024-2032”.

Energy management systems are used for the analysis, monitoring, and optimization of the operation of power transmission systems. The growing government endeavor toward the formulation of policies that align with safe, sustainable, and affordable systems is expected to boost industry expansion.

The COVID-19 pandemic decreased energy consumption in heavy industries such as oil, coal, and natural gas, causing a reduction in energy demand across major economies such as Germany, the U.S., the U.K., Italy, and others. Remote work trends have also lowered commuting requirements, leading to decreased carbon emissions.

Generative AI Integration in Smart Buildings Paves Way for Intelligent and Efficient Environments

The growing integration of generative AI with smart buildings enhances the creation of intelligent and efficient built environments by optimizing building design, energy usage, and ensuring data security and privacy. Generative AI models can also improve the accuracy of building security systems while minimizing energy consumption. 

Schneider Electric Unveiled Schneider Home at CES 2023 to Provide Consumers with Energy Savings

In January 2023, Schneider Electric exhibited a state-of-the-art home energy management solution dubbed Schneider Home at CES (Consumer Electronics Show) 2023. The solution would serve homeowners seeking comfort, savings, and energy independence. The solution comprises a high-power solar inverter, a home battery for energy storage, an electric vehicle charger, and a smart electrical panel.

Escalating Electric Vehicle Station Demand to Boost Industry Expansion

There has been a surging importance of efficient and intelligent charging solutions for electric vehicles. These solutions help decrease the power generation strain and the reduction of operating costs. This has led to a surging demand for the integration of EV charging solutions in smart homes. These factors are anticipated to create expansion opportunities, driving energy management system market growth.

However, the industry demand could be impacted in light of the high cost of complex infrastructure involved in the installation of these systems.

Pivotal Players Invest in Research and Development Initiatives to Strengthen Market Share

Major market players are centered on the adoption of various strategies for strengthening their share in the market. Acquisitions and rising investments in research and development activities are among the pivotal steps deployed by key players.

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List of Key Players Profiled in the Report

• General Electric Company (U.S.)


• IBM Corporation (U.S.)


• Honeywell International Inc. (U.S.)


• Schneider Electric SE (France)


• Siemens AG (Germany)


• Eaton Corporation (Ireland)


• ABB Limited (Switzerland)


• Johnson Controls International PLC (U.S.)


• Emerson Electric Company (U.S.)


• NEC Corporation (Japan)

Key Industry Development

• February 2022 – Eaton and LG entered a collaboration for the integration of EV charging technologies and EMS. The deal was focused on facilitating load management for solar power and storage solutions.

Further Report Findings

• North America accounts for a dominating market share. In 2023, the regional market size stood at USD 11.14 billion. The regional expansion is favored by growing investments in the development of advanced solutions that would help promote the deployment of renewable sources of energy.


• Europe registers a substantial share of the global market. This can be attributed to the surging smart grid solutions demand for the modernization of traditional power grids.


• Based on system type, the market is categorized into home EMS, building EMS, and industrial EMS. The industrial segment is set to dominate the global market share throughout the forecast period. This is due to the increasing emphasis on the optimization of system performance in the industrial sector.


• By end-user, the market is segmented into commercial building/complex and residential/smart homes. The commercial building/complex segment is slated to capture a prominent share in the market over the analysis period. This can be credited to the growing product demand on account of increasing integration of water and energy distribution technologies in complexes and buildings, which results in an increased energy spending.

Table of Segmentation