The Building Energy Management System Market report also gives an insight into product portfolios, costs, sales, production capacities, and market players. Raw materials, demand analysis, product flow, and distribution channels have been studied and surveyed extensively in this research report. The Building Energy Management System Market key growth trends and opportunities are offered through a thorough investigation and examination of the market. A detailed course of development is offered in the report along with insights into businesses connected with it, which include firms, industries, organizations, vendors, and local manufacturers.
The global building energy management system market is expected to reach a market size of USD 16.92 Billion at a steady CAGR of 11.8% in 2028, according to latest analysis by Emergen Research. This steady revenue growth can be attributed to increasing government incentives and policies such as tax benefits related to energy efficiency and associated solutions and services. Policies of government bodies regarding minimization of energy consumption such as Leadership in Energy and Environmental Design (LEED) and Green Rating for Integrated Habitat Assessment (GRIHA) in India is expected to have favorable impact on growth of the building energy management systems market in the country. Similar policies and regulations in other countries is also expected to continue to support overall market growth. The rising need for real-time monitoring and integrated control of buildings and equipment to optimize energy usage is also contributing to growing demand for building energy management systems. Building energy management systems monitor data obtained from various sensors within a building and help to minimize overall energy consumption.
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Key Highlights of Report
- In October 2020, Honeywell International Inc. and Vertiv entered into a partnership in order to introduce integrated solutions to optimize data center resiliency, ensure sustainability, and improve operational performance. The companies are expected to leverage building data to minimize energy costs and use, optimize operations, and improve data center sustainability and performance.
- Software segment accounted for largest market share of 2019. Increasing investment by major market players such as Schneider Electric, IBM Corporation, and Honeywell International Inc. for the incorporation of data analytics software in their existing building energy management systems is expected to support growth of the software platforms in the market.
- Wireless building energy management systems segment revenue is expected to expand at a rapid CAGR of 12.1% during the forecast period. Lower cost, greater flexibility, and higher reliability of wireless building energy management systems over hard-wired systems are key factors driving adoption of these systems.
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Leading Companies of the Building Energy Management System Industry and Profiled in the Report are:
ABB, Accenture, Cisco Systems, Emerson Electric Co., General Electric, Hitachi Ltd., Honeywell international Inc., IBM, Johnson Controls and Schneider Electric.
Emergen Research has segmented the global building energy management system market on the basis of components and services, communication, end-use, and region:
Components and services Outlook (Revenue, USD Billion; 2021–2028)
- Software
- Hardware
- Services
Communication Outlook (Revenue, USD Billion; 2021–2028)
- Wired
- Wireless
End-use Outlook (Revenue, USD Billion; 2021–2028)
- Commercial
- Residential
- Government
Regional Outlook (Revenue, USD Billion; 2021–2028)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- Rest of MEA
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