“The energy sector produces around three-quarters of global greenhouse gas emissions, making it a primary contributor to the climate crisis. To ensure long-term energy security while achieving global net-zero targets, public and private investments in renewable energy and green technology must triple by 2050.” International Swaps and Derivatives Association
Statista puts the global energy management system market at US$31.76 billion in 2023 and forecasts it to grow and reach US$112.32 billion by 2032.
Referring to ABI Research’s Commercial and Industrial Energy Management Systems report research analyst Alex McQueen says the emergence of AI and other digital technologies is enabling new opportunities throughout the energy system, including for energy management systems.
Competitive landscape
Ranked top on the list, Siemens had strong scores across both the innovation and implementation criteria, ranking first for the innovation criteria due to its adoption of AI and digital twins and extensive connectivity options.
While ranked overall as second, Schneider Electric ranked first for the implementation criteria due to its significant market share, extensive global geographical reach, and dedicated deployment support options. Honeywell received high scores for the adaptability of its solution across commercial and industrial settings, high market share, and data analytics capabilities.
At third spot is C3.ai which stood out as an innovative vendor with its open architecture and AI-powered solution. The company earned a high score in the AI and digital twin adoption criterion, with its integrated digital twin technology allowing users to visualize and model operations within and across facilities while leveraging continuous AI-based energy monitoring.
“The ability of AI to analyse vast amounts of data is creating huge potential to maximize cost savings, optimize operations, and improve energy efficiency, placing greater value on EMS adoption. Leaders in the EMS space will be those who continue to embrace the benefits and enhance the AI features of their platforms,” concludes McQueen.
