Market Size of MEA Energy Management Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 12.60 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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MEA Energy Management Systems Market Analysis
The Middle East and Africa Energy Management Systems Market is expected to grow at a CAGR of 12.6% from 2021-2026. The growing emphasis on concerns like energy management, maximizing renewable energy sources and lowering carbon footprint and greenhouse gas emissions are driving demand for EMS. The Middle East and Africa's energy management system market is being driven by the growing need for energy efficiency in the oil and gas sector.
- The growing usage of renewable energy sources, such as solar panel systems in business and residential sectors, is likely to boost demand for energy management systems in this region. Additionally, the growing number of dependable information technology platforms for controlling and optimizing available resources and providing customized and relevant data for corrective actions and better monitoring of energy-efficient solutions is a major driving factor for market growth.
- There has been a rise in energy-efficient systems and a reduction in carbon footprint due to developments in the newest technologies in EMS, such as tiny signal analysis. Companies including IBM Corporation, Honeywell International Inc., and Schneider Electric have integrated these developments into their current EMS modules for effective data monitoring.
- As environmental concerns have grown, the Middle East has made consistent improvements in energy usage and efficiency through sustainable development. Dubai, for example, has implemented Energy Strategy 203 to efficiently control energy usage and cut significant carbon emissions by 2030. Similar initiatives are anticipated to be implemented in Saudi Arabia and Jordan and develop legislative frameworks to encourage clean, practical, and energy-efficient developments throughout the region.
- Furthermore, due to the recent COVID-19 epidemic, the residential power sector experienced a considerable increase due to quarantines, while industrial energy consumption fell dramatically in the first quarter of 2020. Furthermore, numerous Middle Eastern nations are projected to have delays in their planned energy projects, causing developers to miss country deployment dates and incur financial penalties.
