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Global Building Energy Management Systems Market
Global Building Energy Management Systems Market
The GMI Research expects that the Building Energy Management Systems Market will notice an augmentation in demand over the forecast period. This is mainly due to their growing utilization in corporate offices, airports, the mounting need for energy-effective lighting systems, enhanced living standards, and increasing initiatives by the government.
Introduction of the Building Energy Management Systems Market
Building Energy Management Systems (BEMS) is software used to regulate, supervise, evaluate, and optimize the functioning in a building, manage technical services, and preserve the energy consumed by devices implemented in the building. This system associates the building system tools, such as ventilation, heating, lighting, and air conditioning (HVAC), power, and other systems to generate a central platform to manage the building's power consumption.
Key Players of Market:
· Honeywell International Inc.
· ABB
· IBM
· Cisco
· Emerson Electric Co.
· Accenture
· Johnson Controls
· Hitachi Ltd.
· Ingersoll Rand Security Technologies
· General Electric
· Schneider Electric
Building Energy Management Systems Market Dynamics
Several drivers proliferating the growth of the global building energy management systems market include the growing concentration on reducing the carbon discharge to extricate the environment and the ongoing technological advancements. Moreover, the augmenting recognition towards the effective usage of energy at the government and corporate level as well as the expeditiously amplifying prices of electricity is persuading the end-users to decrease the energy consumption by optimizing the building's functionality. Thereby stimulating the growth of the building energy management systems market.
Furthermore, the robust demand for these systems across industrial, residential, and commercial sectors has strengthened the building energy management systems market size. Moreover, BEMS enhances the energy effectiveness and usage by obstructing the operations of the appliances and the transpiring tendency of merging with the organizations to spread awareness about the power rate and demand, thus enabling proper arrangement of high power usage to decrease the overall cost. Therefore, all this together will supplement the market share.
Besides this, the spread of the coronavirus pandemic has positively influenced market growth. This is because of the rising apprehension towards the health and security of the employees, promoting the employees to lodge buildings with BEMS. These systems are installed with superior sensing and control technologies to generate an environment that supports comfort and productivity.
Communication Technology Segment Drivers
As per the communication technology, the market is segmented into wireless and wired. Amongst which, the wireless is speculated to witness a higher CAGR over the coming years. This is because of the aggravating demand for a sophisticated building management system that can be managed from a distant location and the increasing digitalization. Further, the accelerating penetration of smart devices and the amplifying requirements for wirelessly connected systems is propelling the global building energy management systems market growth. Moreover, the wireless management systems are highly dependable, adjustable, require less installation time, and offer superior performance over the traditional hard-wired systems.
Regional Drivers
Based on the regional coverage, Asia-Pacific is forecasted to capture the largest market share during the forecast period. This is attributed to the swift enlargement in the construction industry, primarily across emerging economies such as India and China, as well as the persistent increase in government initiatives to encourage energy consumption. In addition to this, the global building energy management systems size report states that the transpiring trend of establishing smart cities to enhance the quality of life is paving the way for market growth.
Building Energy Management Systems Market Segmentation:
Segmentation by Software
· Data Management
· Asset Performance Optimization
· Application Platform
· HVAC System
· Lighting System
Segmentation by Communication Technology
· Wired
· Wireless
Segmentation by Service
· Consulting & Training
· Support & Maintenance Services
Segmentation by Industry
· Manufacturing
· Telecom and IT
· Office and Commercial Buildings
· Municipal
· Others
Segmentation by Region:
· Asia Pacific
o China
o Japan
o India
o Rest of APAC
· North America
o United States of America
o Canada
· Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
· RoW
o UAE
o Brazil
o South Africa
o Saudi Arabia
About GMI Research
The consulting and market research organization provides business perception and research reports for every enterprise. Our team of mature analysts and industry specialists helps the clients to frame strategic decisions and attain long-lasting growth. The team performs various market intelligence studies to make sure that qualitative information reaches extensive sectors such as Energy, FMCG, Healthcare, and Technology. We collect refined and in-depth information relating to different industries using both internal and external databases. The prime focus is to acknowledge our clients about competitive landscape, major factors impacting market, and market insights to succour companies stay out of the curve.
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