The Europe energy management system market was USD 11,222 million in 2022, which will rise to USD 30,257 million, with a 13.20% CAGR, by 2030. 

This is because of the instability of electricity costs, the increasing acceptance of EMS in building automation, and strict government rules & regulations. Furthermore, the rising economic expansion, speedy industrialization, and growing government initiatives concerning energy consumption are also aiding in the industry expansion. 

The service category, based on offering, led the industry. This can be because of the surging need of end users to decrease their operational expenses by utilizing different services like monitoring & control, consulting & training, maintenance, and more. Monitoring & control, under the service category, was the largest contributor. This can be because an EMS needs continuous control and monitoring during its working, and operations of its several parts. 

In 2022, the carbon and energy management category, based on solution, led the Europe energy management system market. This can be because of the government policies and initiatives in this region, to observe electricity consumption, enhance electricity productivity, save energy expenses, and decrease carbon emissions. 

The software category, based on component, will advance at the fastest rate, of approximately 14%, during this decade. This is mainly because businesses are progressively acquiring software for management to decrease electricity expenses. 

The load control switches category, on the basis of device, is likely to advance at the fastest rate, of 14.5%, in the years to come. This is primarily because of the increasing need for appropriate management of power consumption, with the usage of these devices. 

The IEM category, on the basis of application, was the largest contributor to the industry, and it is likely to remain the largest in the years to come. Sectors like steel, cement, refinery, petrochemical, and chemical are some of the major end users of energy management systems because the amount of energy utilized by these sectors is significant. 

In 2022, Germany was the largest contributor to the industry, with a 27% share, and it will further advance at a significant CAGR in the coming years. This can be mainly because of the government initiatives that promote power conservation, coupled with the increasing consciousness regarding climatic changes. 

Italy is likely to advance at a significant compound annual growth rate, of 13.8%, during this decade. This is primarily because of the increase in dependence as well as emphasis on the utilization of renewable sources for power generation. 

It is because of the rising government measures towards energy consumption, the Europe energy management system industry will continuously advance in the coming years. 

SOURCE: P&S Intelligence