Global Intelligent Energy Management Systems Market to Optimize Energy Efficiency with a CAGR of 6.5% by 2030
According to a new report published by MarkWide Research, titled, “Global Intelligent Energy Management Systems Market,” the global market for intelligent energy management systems (IEMS) is expected to experience significant growth. IEMS play a vital role in optimizing energy consumption and reducing operational costs for businesses and industries.
The report reveals that the global IEMS market is projected to witness a robust CAGR of 6.5% over the forecast period from 2023 to 2030. This growth is driven by the increasing awareness of energy conservation, the need for sustainable business practices, and advancements in smart grid technology.
Key Findings from the Report:
- Energy Efficiency: IEMS help organizations monitor and control energy usage, leading to significant cost savings.
- Sustainability: Businesses are increasingly adopting IEMS to reduce their carbon footprint and align with sustainability goals.
- Smart Buildings: IEMS are integral to smart building solutions, enhancing comfort and efficiency.
- Renewable Integration: The market benefits from the integration of renewable energy sources into energy management systems.
- Global Adoption: The demand for IEMS is global, with applications across various industries.
Market Forecast:
The report indicates that the global IEMS market is currently valued at $19.3 billion in 2023 and is projected to reach $32.5 billion by 2030, with a CAGR of 6.5% during the forecast period. North America and Europe are expected to be key regions for market growth, driven by sustainability initiatives.
Company Profiles:
Key players in the global IEMS market include Schneider Electric SE, Siemens AG, and Honeywell International Inc. These companies specialize in providing intelligent energy management solutions for businesses and industries.
Conclusion:
The global IEMS market is set for significant growth, driven by the increasing emphasis on energy efficiency, sustainability, and the integration of renewable energy sources. With a projected CAGR of 6.5% by 2030, this market offers opportunities for technology providers to support the global transition toward sustainable energy practices.