The rising requirement for EMS in emerging economies is creating wide opportunities for the players operating in the EMS market. Because of the surging demand for efficient energy sources to replace traditional energy source, the market has been witnessing continuous rise in research and development activities from the market players. Countries such as China and India are witnessing an increase in urban population attributed to the rapid industrialization, which is further leading to the growing need for electrical energy.

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Among all these, the power & energy industry held the largest share of the market during the historical period and is further expected to dominate the market during the forecast period. This is due to the abundant generation of energy and sale of electricity for different applications, such as mining and manufacturing. An integrated system which is designed for enabling automated monitoring and control of the energy devices in a building, such as lighting, heating, and ventilation, is referred to as EMS.

This is projected to create a rising demand for EMS in developing countries in the coming years.   When vertical is taken into consideration, the EMS market is categorized into manufacturing, telecom & IT, retail, healthcare, power & energy, office & commercial buildings, education, residential, and others (which include government, banking, financial services & insurance, and hospitality).

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In 2017, the energy management system (EMS) market generated a revenue of $39,520.0 million and is projected to advance at a 19.3% CAGR during the forecast period (2018–2023). The market is witnessing growth due to the stringent government regulations and government incentives, electrical energy price volatility, and growing adoption of EMS in building automation.

A primary driving factor of the EMS market is the growing adoption of EMS in building automation. Consumers are increasingly becoming concerned regarding the soaring energy cost and thus are adopting EMS solutions. EMS aids organizations in optimizing the performance of the building by gaining full control over the building energy consumption and its cost.