Press Release

Europe Advanced Energy Management System Market to Grow at a Significant CAGR through 2025

Rising environmental concerns and inflation in oil prices to drive Europe advanced energy management system market

According to TechSci Research report, Europe Advanced Energy Management System Market By Component (Hardware, Software and Service), By End User Vertical (Power and Energy (P&E), Oil & Gas, Telecom & IT, Manufacturing, Office and Commercial Building (Municipal, University, School, and Hospital System) and Others), By Solution (Carbon Management, Utility Billing and Customer Information System, Others), By Country, Forecast & Opportunities, 2025”, the market for Europe advanced energy management system is expected to witness significant growth during the forecast period. Advanced energy management systems are systems that provide statistics and data to employees who control and monitor the performance of energy systems, introduce new strategies to save energy and reduce energy consumption. Day by day, end use industries are becoming more energy-conscious which is anticipated to fuel the need for energy conservation in the region. Additionally, intervention of IoT has introduced smart cities, smart cars, smart carts, smart lighting, smart speaker, which help to optimize energy consumption thereby anticipated to positively influence the growth of the market through 2025. Moreover, the IT sector relies mostly on competent energy management such that there is optimum energy consumption in order to eradicate intermittency and potential energy-related threats while maintaining cost-effectiveness. Furthermore, government in various European nations have started investing in the advanced energy management system market, which is expected to spur the market growth until 2025.

However, longer period of RoI and high initial cost of deployment might hamper the growth of the market during the next five years.

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The Europe advanced energy management system market is segmented based on component, end user vertical, solution, country, and company. Based on component, market has been segregated into hardware, software and service. Software, segment is further segregated into utility energy management system, industrial energy management system, enterprise carbon & energy management, residential energy management, and others. Utility energy management system segment is anticipated to grow at impressive rate through 2025 owing to initiatives taken by the government such as rollout of smart grid and emergence of IoT and cloud platforms, which assist in improving the overall operational efficiency.  

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Leading companies in the Europe advanced energy management system market include IBM, Rockwell Automation, Schneider Electric, Honeywell, General Electric, Cisco, Eaton Corporation, SAP, Elster Group, Siemens, CA Technologies, Tendril and others. The companies are employing inorganic strategies such as collaboration and partnership in order to enhance the energy performance of their product. The partnership between IBM and Siemens in 2016, exemplifies that.

“Europe advanced energy management system market is expected to grow at a double digit CAGR on account of government initiatives for reducing the carbon footprint by mandating strict policies and surging demand for residential and industrial energy management systems. Moreover, the European Union is planning to reduce atleast 40% GHGs by 2030 and improve energy efficiency by 32.5%, which is expected to positively impact the growth of the market during the next five years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

Europe Advanced Energy Management System Market By Component (Hardware, Software and Service), By End User Vertical (Power and Energy (P&E), Oil & Gas, Telecom & IT, Manufacturing, Office and Commercial Building (Municipal, University, School, and Hospital System) and Others), By Solution (Carbon Management, Utility Billing and Customer Information System, Others), By Country, Forecast & Opportunities, 2025”, has evaluated the future growth potential of Europe advanced energy management system market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyses the emerging trends along with essential drivers, challenges and opportunities in the Europe advanced energy management system market.

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