ICT and Media Business News Energy Management System (EMS) Market Report 2023 | Page 3

Energy Management System Market
Globally, North America is expected to hold the largest share in the energy management system market during
the forecast period. Rising energy costs and increasing initiatives by the government and various industrialists to
reduce carbon footprint are expected to surge the demand for EMS solutions in the North American region.
According to a study by Parks Associates, in 2017, about 35% of the U.S. home owners were willing to bundle
HVAC maintenance services with their electricity services and approximately 25% were willing to bundle internet
services with their electricity services, which, if implemented, would further support the adoption of the EMS in
the region.
Fluctuations in electricity prices due to demand and supply dynamics are driving the energy management system
market. Factors such as extreme weather conditions, economic development, and lack of energy supply are
contributing to the rise in energy prices. Energy consumption is anticipated to increase by almost 55% in the
next 25 years, with developing countries, such as India and China, to be the key markets.
P&S Intelligence