According to the business intelligence report titled ‘North America Energy Management System Market Forecast 2027 By End-User, By Service, By Component, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’ available with MarketStudyReport, North America energy management system market is expected to gain substantial growth through 2027.

Significant technological advancements in electricity production and favorable government initiatives that encourage adoption of these systems across sectors for energy efficiency are propelling North America energy management system market.

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Furthermore, escalating focus on minimizing carbon emissions and effective energy consumption will positively impact growth dynamics of the market in the forthcoming years.

For the purpose of a comprehensive assessment, the industry landscape is bifurcated in terms of service, component, end user, and regional terrain.

Speaking of service, the BEMS (building energy management system) segment is likely to gain strong growth during the analysis timeframe, as the equipment boasts of several benefits which include, accurately pinpointing customer share in total load consumption, real time power consumption statistics, reducing operating costs, and enhancing overall performance of the system.

Based on component terrain, the sensor segment of North America energy management system industry is likely to progress substantially during the analysis timeframe, as sensors play a key role in early detection of issues in the system or quality of power supply. Technological upgrades like integration of AI, IoT, and machine learning within sensors is likely to contribute significantly to product uptake during the forecast period.

From the perspective of application, energy management systems are steadily being incorporated across the power & energy sector as they facilitate efficient supervision of electrical equipment by notifying users about the overall capacity of the system and the level of maintenance required to restore it.  

Regionally, United States energy management system marketplace is anticipated to showcase a colossal growth rate during 2021-2027, owing to favorable government initiatives that encourage system adoption for efficient energy consumption. For instance, in December 2020, the U.S. Department of Defense introduced an innovative method of energy conservation under a project dubbed as Facilitate Energy Saving and Security Technology (FEST) that combined data from different sources and
provided insights regarding resilience and safety, apart from energy efficiency among others.

The competitive framework of this industry landscape is defined by key players such as Siemens AG, ABB Group, Eaton Corporation, Honeywell International Inc., Schneider Electric SE, Optimum Energy LLC, Rockwell Automation Inc., GridPoint Inc., Telkonet Inc., and Emerson Electric Co.