Industrial Energy Management Systems Market Expected to Reach Strong Valuation of USD 76,082.40 Million by 2034

The industrial energy management systems market is poised for significant growth at a CAGR of 8.3% during 2024-2034. The market is expected to reach USD 34,373.30 million in 2024. The market has the potential to reach USD 76,082.40 million by 2034.

The industrial energy management system industry has grown significantly over the past few decades. The demand for industrial energy management systems has increased dramatically due to the increasing requirements in many industries to reduce carbon dioxide emissions, increase productivity and reduce energy consumption.

The industrial energy management systems market is being influenced by factors such as rapid industrialization, volatility of energy costs, development of green initiatives and growing need to regulate and minimize energy consumption.

Industrial energy management systems have evolved with technology, adding smart meters, smart sensors, and other gadgets. Since the system involves multiple technologies to maintain energy efficiency, installing the entire system is expensive, which is a hindrance to the expansion of the industrial energy management system market.

Download a sample PDF of the Industrial Energy Management Systems Market Report

Regional perspectives:

The increase in investment in renewable energy projects is contributing to growing demand in the Asia-Pacific region for advanced industrial energy management systems that aim to increase productivity and integrate renewable energy sources.

These systems are widely used by European suppliers of industrial energy management systems to reduce waste and maximize resource utilization due to the growing awareness of the negative impact of industrial activities on the environment.

The shale gas revolution and growing emphasis on sustainable practices in North American companies are driving the adoption of industrial energy management systems to increase operational efficiency and minimize environmental impact.

Key findings from the market research:

The hardware segment in the components category is forecasted to account for 39.2% of the market share in 2024.
In 2024, the construction sector should have a 21.2% share in revenues in the end-user category.
The industrial energy management systems market in Australia is expected to expand at a compound annual growth rate (CAGR) of 11.8% during 2024-2034.
By 2034, sales of industrial energy management systems in China are expected to grow at a CAGR of 8.8%.
Through 2034, the U.S. industrial energy management systems market is expected to grow at a compound annual growth rate (CAGR) of 5.1%.
The industrial energy management systems industry in Germany is expected to grow at an average annual growth rate of 3.7% between 2024 and 2034.
Sales of industrial energy management systems in Japan are expected to grow at a CAGR of 3.0% through 2034.

Competitive environment:

The main goal of prominent suppliers of industrial energy management systems is to develop their service and product offerings to help enterprises manage their energy mechanisms. Major suppliers of industrial energy management systems are likely to leverage the opportunities in cloud computing and intelligent energy management.

To control the market, industrial energy management system suppliers use various techniques such as partnerships, acquisitions, mergers and new product introductions.

Key players:

Cisco Systems, Inc.
Siemens AG
General Electric Co.
Schneider Electric SE
Emerson Electric Co.
ASEA Brown Boveri (ABB) Sp.
Eaton Corporation Plc
EnerNOC, Inc.
Honeywell International, Inc.
Rockwell Automation
EFT (Energy Inc.)
Azbil Corporation
Hatch Ltd.
Shanghai Baosight Software Co., Ltd.

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Latest events:

To implement a demand response programme for all residential, business and industrial customers, AutoGrid, a market leader in providing Distributed Energy Management Systems (DERMS) and Virtual Power Plants (VPPs), announced a traditional new partnership with Tata Power in February 2023. This innovative initiative will help India transition towards a sustainable energy transformation while also helping to meet peak demand.
Siemens unveiled its building network software in May 2022, which is intended to promote network stability and economic efficiency. The company says its software increases network simulation speed by up to six times and improves the efficiency of network management tasks by 85%.

Key market segmentation:

By ingredient:

Technology
- Energy Platform
- Distributed Control System (DCS)
- Meter Data Management (MDM)
- Peak Load Control System (PLCS)
- Programmable Logic Controllers (PLC)
- Energy analytics
- Supervisory control and data acquisition (SCADA)
- Energy Management Information System (EMIS)
Hardware
- Communication network equipment
- Industrial equipment
  - Smart meters
  - Heating, Ventilation and Air Conditioning (HVAC)
  - Load Control Switch (LCS)
  - Transmitters
  - Human Machine Interface (HMI)/Operator Panels
  - Others
Services
- Consulting
- System integrators
- Maintenance and support services

By end user:

Automotive
Construction
Electronics
Food and drinks
Mining
Oil and gas
Petrochemistry
Tools

By region:

North America
Latin America
west Europe
Eastern Europe
Southeast Asia and the Pacific
China
Japan
Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award winner, and member of the Greater New York Chamber of Commerce) offers in-depth insights into the factors driving market demand. FMI is a leading global provider of market intelligence, advisory services, consulting, and events for the packaging, food and beverage, consumer technology, healthcare, industrial, and chemical markets. With an extensive team of over 400 analysts, FMI offers global, regional and local expertise across diverse disciplines and industry trends in more than 110 countries.

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