Saudi Arabia Energy Management System Market By Type (Building Energy Management Systems, Industrial Energy Management Systems, Home Energy Management Systems), By Component (Hardware, Software), By Deployment Type (Cloud Based, On Premise), By End User (Manufacturing, Power & Energy, IT & Telecom, Others), By Region, Size, Share, Trends, Opportunity, and Forecast, 2028

A commercial or residential location that uses an energy management system enjoys a number of outstanding advantages, including less energy usage and more effective operations. These technologies can also provide information that would not be accessible without a system that carefully tracks energy usage. The ability of the energy management systems is to track and optimize energy use for lighting, heating and cooling, ventilation in order to reduce electricity costs. Administrators are better able to estimate energy demand and plan for it by gathering data. This information can also be used to save extra work, such as making sure all lights are turned off after office hours.

Company staff must constantly monitor energy consumption and address anomalies and incidents that result in energy waste. This benefits the company by enabling sizable, long-lasting energy savings. Organizations that choose to execute ISO 50001 make a specific kind of energy administration framework known as an energy management system (EnMS). The purpose of ISO 50001 standard is to empower associations to set up frameworks and forms fundamental to move forward vitality execution. The standard applies to all variables influencing vitality utilize that can be observed and affected by an association. ISO 50001 standard does not indicate energy execution criteria. It gives a general-purpose framework that permits associations to select execution benchmarks that they regard best meet their requirements.

Increasing Green Building Awareness

The energy management system is one of the most recent systems that collects real-time data on energy usage. This is made possible by monitoring, analyzing, and visualizing energy use. Energy management systems improve business operations and financial judgement. Companies have begun green construction in recent years and have put in place policies for managing waste, water, and energy. Although Saudi Arabia is one of the top five countries in the world for spearheading and has over 2,380 registered green building projects, the demand for energy management systems in Saudi Arabia is rising quickly.

Digital Transformation of EMS is Reshaping the Energy Management Infrastructure

The digitalization of numerous industrial and commercial activities, as well as energy management, has ostensibly contributed to this transformation. Energy models are increasingly becoming digitalized, which increases their efficiency and raises their worth. Greater efficiency gains are largely dependent on the ability to connect and coordinate all of the network's devices and equipment due to the modernization of energy management processes. Moreover, a building's digital connectivity may enable communication with smart power grids. As a result of the energy management system's digital revolution, users can also combine operational data with energy data to offer valuable perspectives on the energy used. Thus, the infrastructure of energy management can be redesigned as a result of the digitalization of energy processes. These factors have increased the demand for energy management systems in Saudi Arabia. For instance, in December 2021, General Electric acquired Opus One Solutions Energy Corporation. The planning and management of energy are optimized with the aid of this software vendor. The purchase will help General Electric plan, optimize, and engage in trading for the distributed and renewable energy resources (DERs) necessary to power a modern system.

Non-Fossil Fuel-Based Energy Goal

Due to the escalating environmental problems such as climate change and global warming, energy organizations are being pushed to establish severe policies for energy efficiency. As an example, to demonstrate their commitment for clean energy, numerous cities in Saudi Arabia have raised the standards for their renewable energy portfolios. For instance, Saudi Arabia has established a non-fossil fuel-based energy consumption goal for the 26th Session of the COP (Conference of the Parties) in 2023This has been a key pledge made under the Panchamrit. This is the largest renewable energy expansion strategy in the world. The government makes an effort to increase effective energy management and consumption. Such factors are anticipated to fuel the growth of the market during the forecast period.

Projects and Advantages propelling the Growth of the Saudi Arabia Energy Management System Market

The main driver of social and economic advancement is energy. Energy is necessary for all economic sectors to operate, and as markets become more competitive and technology advances, energy consumption rises. Electricity is especially needed in the industrial sector. Additionally, there is a growing understanding of the necessity of reducing and optimizing energy use. In addition, businesses have tried to use energy more wisely in response to market demands and public conceptions of environmental sustainability. It is anticipated that one of the main market drivers will be the aim to minimize and minimize energy use.

For the purpose of exploring the company's EMS products and services in the Middle Eastern nations of Kuwait, Yemen, and Oman, Rockwell Automation signed a partnership agreement with three distributors in June 2021. These distributors are Zubair Electric, Naming Dome Trading and Contracting, and Automatic Systems Company.

To demonstrate its "Buildings as a Grid" approach to the energy transition, which aims to assist customers in increasing resilience, accelerating decarbonization, generating new revenue streams, and reducing energy costs, Eaton Corporation launched its Energy management solution (which combines hardware, software, and services) in March 2021.

As supply and demand change, so do energy prices. Extreme weather, the state of the economy, and supply availability are just a few of the variables that affect energy prices. The World Energy Outlook predicts that during the next 25 years, global energy consumption will rise by 60%, with developing nations accounting for the majority of this rise. In emerging markets, fossil fuels such as coal and thermal power plants currently supply a sizable quantity of energy. This is the least expensive non-renewable method of producing energy. Higher energy prices are anticipated because of rising energy demand and the depletion of natural resources, which will stimulate the use of other, more expensive forms of energy production.

Recent Development

• In March 2021, Rockwell Automation and Precast FZCO started to work together to advance software solutions in the Middle East. With this partnership, businesses will investigate its extensive EMS solutions in this area in an effort to gain market share.
• In September 2020, Schneider Electric SE unveiled EcoStruxure, a cloud-based energy management system. This technology helps building owners reduce equipment failures and downtime by providing real-time warnings, monitoring data, and power quality analyses.
• In March 2021, Eaton Corporation introduced its Energy management solution that combines hardware, software, and services to demonstrate its Buildings as a Grid approach to the energy transition. The solution aims to assist customers in increasing resilience, accelerating decarbonization, generating new revenue streams, and reducing energy costs.
• In February 2020, Honeywell announced its forge energy optimization systems (a closed-loop, cloud-based machine learning solution) to continuously monitor a building's energy usage adjustments to the best energy-saving settings without compromising occupant comfort levels.

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Market Segmentation

The Saudi Arabia energy management system market is divided into type, component, deployment type, end user, and region. Based on type, the market is bifurcated into building energy management systems, industrial energy management systems, home energy management systems. Based on component, the market is further bifurcated into hardware and software. Based on deployment type, the market is bifurcated into cloud based and on premise. Based on end user, the market is further bifurcated into manufacturing, power & energy, IT & Telecom, and others.

Market Players

Major market players in the Saudi Arabia energy management system market are Rockwell Automation Inc., Honeywell International Inc., Schneider Electric SE, Cisco Systems, Inc., ABB Ltd., Eaton Corporation, IBM Corporation, Siemens AG, Mitsubishi Electric Corporation, and Wrtsil Oyj Abp.