Europe Advanced Energy Management System Market to Reach USD 20,169 Million by 2027
Rising
energy consumption, growing Usage of Smart Grids and Smart Meters, rising
investment towards improving energy, are expected to drive the Europe Advanced
Energy Management System market through forecast period.
According to TechSci
Research report, “Europe Advanced Energy Management System Market -
By Country, Competition Forecast & Opportunities, 2017-2027,” Europe Advanced Energy Management
System Market stood at USD 11,763.59 million in 2021 and is expected to
register a CAGR of 9.42% during the forecast period owing to increasing
electricity consumption and growing demand for energy efficiency in
end-use industries.
The need for energy management during
peak electricity demand as well as the transition from traditional fossil fuels
to renewable & bio-based energy sources, is expected to drive demand for
advanced energy management systems in Europe. Additionally, the growing need to
reduce GHG emissions and reliance on fossil fuels is expected to boost market
growth in the coming years.
Energy efficiency is a critical
component of the European Union energy policy because it is a widely recognized
cost-effective approach of reducing greenhouse gas emissions while ensuring
long-term energy supply security. Energy efficiency investments directly impact
energy consumption while also improving industrial competitiveness and
propelling economic growth. As a result, the desire to reduce and optimize
energy use is expected to be a significant market driver.
Europe Advanced Energy Management System
market can be segmented into by end user vertical, by type, by component, by
Solution, and by country. Based on end user vertical, the market is segmented
into Power and Energy (P&E), Oil & Gas, Telecom and IT, Manufacturing,
Office and Commercial Building, Residential, and Others. Based on type, the
market is segmented into Electric, Gas and Thermal.
Based on component, the market is
segmented into Hardware, Software, and Service. On the basis of component, the
hardware segment dominated the Europe Advanced Energy Management Systems
Market, with a market share of 52.54% in 2021 and is expected to continue to do
so during the forecast period. With the increasing adoption of hardware
technologies in the energy management systems, Software and the respective
services adds the value to the market for the expansion. The rising adoption of
smart grids and smart meters for the advanced energy management is a
significant driver for the dominance of the European hardware market.
Based on solution, the market is
segmented into carbon management, demand response management, utility billing
and customer information system, others. On the basis of solution, the Utility
Billing and Customer Information System dominated the Europe Advanced Energy
Management Systems Market with a market share of 34.71% in 2021 and is expected
to continue to do so during the forecast period.
The Utility Billing and Customer
Information System provides an enhanced utility experience, improving
operational efficiency. The solution can be adopted considering the customer
experience and boosting customer satisfaction for advanced energy management
activities. The solution provides more accurate billing by helping to improve
upcoming or new marketing campaigns.
Browse over 139 market data Figures spread
through 191 Pages and an in-depth TOC on " Europe Advanced Energy Management System Market"
Key market players in the Europe
advanced energy management system market include:
- ABB Ltd.
- AGL
Energy Ltd.
- AutoGrid
Systems, Inc.
- Comverge,
Inc.
- Generac
Holding, Inc
- Enel
X S.r.l
- General
Electric Company
- Siemens
AG
- Limejump
Limited
- Schneider
Electric
- Honeywell
International Inc.
- Johnson
Controls International Plc
- Ameresco,
Inc
- Trane
Technologies Plc
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“The Advanced Energy
Management Systems companies are focusing on technological developments across
the Europe region by installing hi-tech devices to capture the top position in
the market.
The top players are working
across the region by supplying, installing, and providing service for
automation controls to optimize heating, ventilation, and air conditioning
(HVAC) systems and central energy plants to advance Energy Management Systems.
The Advanced Energy
Management Systems (AEMS) companies provide advanced software & services
for data and analytics that can be used by trained personnel to monitor and
control energy performance, influence behavior, and identify and document
savings.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Europe Advanced Energy
Management System Market By End User Vertical (Power and Energy
(P&E), Oil & Gas, Telecom and IT, Manufacturing, Office and Commercial
Building, Residential, and Others), By Type (Electric, Gas, Thermal), By
Component (Hardware, Software, Service), By Solution (Carbon Management,
Demand Response Management, Utility Billing and Customer Information System,
Others), By Country, Competition, Forecast & Opportunities, 2017- 2027”, has
evaluated the future growth potential of Advanced Energy Management System
market in Europe and provides statistics and information on market structure,
size, share and future growth. The report is intended to provide cutting-edge
market intelligence and help decision makers take sound investment decision.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities present in Europe Advanced
Energy Management System market.
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