The global energy management software market is anticipated to grow at a CAGR of 11.0% during the forecast period (2022-2028). Energy management software (EMS) refers to a range of energy-related software applications that may provide utility bill tracking, real-time metering, building HVAC and lighting control systems, building simulation and modeling, carbon and sustainability reporting, IT equipment management, demand response, and energy audits. The growing demand for energy is accelerating the market growth as managing energy require a systems approach to analyze energy consumption that supports to reduce cost. A sustainable energy future require innovative developments and new practices essentially transforming the energy management system to produce, deliver and consume energy. These are some of the factors that is driving the growth of the market. Energy management systems are cost-effective in primarily all residential buildings, regardless of national energy prices, usage, and climate. This, in turn, is driving the growth of the market.
Some major players in the market include Cisco Systems Inc., ABB Ltd., and Eaton Corp. plc, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in February 2020, Castle Development and Schneider Electric Egypt signed a memorandum of understanding (MoU) to provide Castle Landmark compound with an energy management system, to manage the infrastructure of the project, rationalize energy consumption, and offer safe, efficient, and eco-friendly products, including solar panels, heating systems, water, and natural gas networks, internet, traffic control systems, and electric vehicle charging stations. Additionally, in May 2021, ZF presents energy management software for electric commercial vehicles. By taking a central role in the electrified driveline, the ZF EMS can control all auxiliary units such as air compressors, steering pumps and thermal management as well as coordinating the energy requirements of the driveline.
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Market Coverage
The market number available for – 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Application
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Top major key players:
Cisco Systems Inc., ABB Ltd., and Eaton Corp. plc, among others.
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Key questions addressed by the report
What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Global Energy Management Software Market Report by Segment
By Application
Energy and Utility
Construction
Others
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