Next-Generation Building Energy Management Systems Market - Overview
The prerequisite for simplified building operations is likely to spur the Next-Generation Building Energy Management Systems Market 2020. The software reports are made by Market Research Future, which includes market options for progress. A CAGR of 15.3% is predicted to shape the global market in the upcoming period.
The convergence of conventional and advanced components to augment the management and automation of building systems is estimated to guide the share of next-generation building energy management systems market. The upswing in consumer demand for eco-friendly buildings that are energy-efficient is estimated to add impetus to the next-generation building energy management systems market in the upcoming period.
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Segmental Analysis
The segmental review of the next-generation building energy management systems market has been segmented into communication technology, type, application, and region. Based on the types, the market for next-generation building energy management systems has been segmented into software, hardware and service. The service sub-segment includes support & maintenance services and consulting & training. The software segment has been sub-segmented into the HVAC system, asset performance optimization, application platform, data management, and lighting system. Based on the communication technology, the market for next-generation building energy management systems has been divided into wireless and wired. The application-based segmentation of the market for next-generation building energy management systems includes manufacturing facilities, educational institutions and hospitals, commercial buildings, and government establishments. Based on the regions, the market for next-generation building energy management systems consists of the Middle East, Europe, Africa, Asia-Pacific, North America, and South America.
Detailed Regional Analysis
The regional scrutiny of the next-generation building energy management systems market has been conducted for regions of the Middle East, Europe, Africa, Asia-Pacific, North America, and South America.
The region in Europe is projected to support the biggest segment in the market for next-generation building energy management systems in the year 2018. The European regional market has been an initial adopter of the BMS, which has improved the demand for BMSs in the region, steering to an advanced segment in the market. The incidence of a huge number of companies in the region that are driving the market for next-generation building energy management systems. The Asia Pacific regional market is estimated to develop at a momentous stride for the duration of the forecast due to the intensification in demand for the building of industrial and residential buildings.
Competitive Analysis
The necessity to establish a unique advantage in the market is reviewed to have a substantial influence on the global market. The market is predicted to guide its future growth with the inclusion of a balance of innovation and continual product enhancement. Besides, the need to ensure that the long-term sustainable growth goals are not comprised due to the existing difficulties is foreseen to be extremely important for the market stakeholders. The trends predominant in the market are contributing considerably to the market’s progress. The market contenders are estimated to support the growth enabling factors and thus are estimated to pull the market out of the depression due to the ongoing global pandemic. The emphasis on accelerating growth is estimated to take the main stage in the forecast period. The need to effectively engage customers in all of their geographical markets is estimated to help the market overcome the hindrances being faced currently.
The distinguished players in the market for next-generation building energy management systems are Johnson Controls, Schneider Electric, Honeywell, Siemens, ABB, CBRE Group, Daikin, Echelon, CISCO, and GridPoint among others.
Industry Updates:
June 2020 Zen Ecosystems and Ferguson recently started a collaboration in reaction to a market necessity for a simple energy management solution for both commercial and residential clients.
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