Market Size of Europe Energy Management Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 17.14 Billion |
| Market Size (2029) | USD 36.26 Billion |
| CAGR (2024 - 2029) | 14.57 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Energy Management Systems Market Analysis
The Europe Energy Management Systems Market size is estimated at USD 17.14 billion in 2024, and is expected to reach USD 36.26 billion by 2029, growing at a CAGR of 14.57% during the forecast period (2024-2029).
- The Energy Management System (EMS) is a tool for monitoring, analyzing, and optimizing the operation of the electric transmission system. The system is widely used in various industries, and EMS implementation includes SCADA, Automatic Generation Control (AGC), and alarms, among others.
- The energy management system market is witnessing a rapid growth rate due to demand growth in multiple applications of smart meters across end users and investments in smart grid and smart building technologies.
- Energy management is considered necessary for smarter grids primarily because it is automated and does not require direct human intervention. Also, it gives accurate results and predictions. It helps the electric utility optimize the functionality of its generation units and reduce the generation cost.
- Lack of capital investment has been a significant constraint for the market growth studied, especially in the emerging regions, owing to the limited availability of surplus funds from governments and the lack of supporting infrastructure and consumer awareness.
- However, the increasing deployment of advanced wireless technologies is expected to aid the adoption of Industry 4.0 further, creating a positive growth outlook for the market.
