ICT and Media Business News Energy Management System (EMS) Market Report 2023 | Page 2

Energy Management System Market
Energy management system market is expected to reach $113,476.9 million by 2023, according to P&S
Intelligence.
Stringent government policies and regulations, favorable government support in the form of incentives, volatility
of electricity prices, and rising adoption of EMS in building automation are the major factors driving market
growth.
Insights on Market Segments
Based on offering, the service category is expected to continue holding the larger share in the energy
management system market in the coming years, owing to the growing need for the proper implementation and
integration of the equipment associated with EMS in commercial and residential buildings, globally. Increasing
demand of building owners to exercise total control over the EMS and monitor the energy demand of their
premises and rising awareness regarding energy management are the key factors driving the growth of the
service category in the market.
P&S Intelligence