Energy Management Systems Market Share

North American Market Forecast

The energy management systems market in North America, amongst the market in all the other regions, is projected to be the largest with a share of about 33% by the end of 2037. The growth of the market can be attributed majorly to the owing to drastically changing energy regulations and increasing investment in sustainable energy in the U.S. For instance, public benefit funds (PBF) for renewable energy are set up and used by the states in the USA to invest in clean energy supply for the public. Furthermore, the growing acceptance and utilization of renewable energy among the countries in the North America region, is further estimated to support the market growth. According to the data by OECD, 8% of the total primary energy consumed in the USA is derived from renewable energy sources, as of 2019. Moreover, various industry giants are increasingly investing in advanced energy management system to reduce energy wastage, which is foreseen to boost the market growth in the region.

Europe Market Forecast

The European energy management systems market is estimated to be the second largest, registering a share of about 23% by the end of 2037. The growth of the market can be attributed majorly to the escalating adoption of smart grids in the region and environmental concerns among the people. Furthermore, there has been a surge in the implementation of government policies for the efficient use of energy, and reducing the amount of carbon emissions in countries such as the UK, Germany, France, and others, that is further predicted to expand the growth of the market in the European region.

APAC Market Statistics

Energy management systems market in Asia Pacific is estimated to experience the highest CAGR during the forecast period on the back of evolving sustainable energy infrastructure in the region. The growing industrialization in developing countries is projected to increase the demand for smart grids and smart meters to optimize energy utilization, which in turn would drive the market growth in the region. Growing initiatives to promote the use of renewable energy such as subsidies for solar farms in developing economies, is projected to promote market expansion in the Asia Pacific region.