The Europe energy management system market is projected reach USD 30,257 million by 2030, growing at a CAGR of 13.20%.
Factors driving this growth include electricity price volatility, strict government policies & regulations, and the increasing adoption of energy management systems in building automation.
Additionally, the market is benefiting from surging economic growth, rapid industrialization, and government initiatives aimed at promoting efficient electricity consumption.
The service category is the dominating the market, contributing the largest share of revenue. This is driven by the growing demand from end users to reduce operational costs through various services such as maintenance, consulting & training and monitoring & control.
In 2022, Germany dominated the Europe energy management system market with a 27% revenue share. The country is expected to grow significantly due to government measures promoting energy conservation and growing awareness regarding climate change. Germany government has set ambitious goals, including achieving 100% renewable energy usage by 2035 and phasing out coal by 2038.
The growing awareness and demand for energy-efficient solutions, coupled with government support and industry trends, are driving the adoption of EMS in Europe, providing both environmental and financial benefits to various sectors.
It is because of the increasing efforts pertaining to research and developments, happening, the demand for energy management solutions will continue to grow in the years to come.