Building Energy Management Systems (BEMS) are software that controls, monitors, measure and optimize building operation, technical services and energy consumption of devices used by the building, which allows efficiently functioning building. Building Energy Management Systems connect building system equipment such as heating, ventilation and air conditioning (HVAC) systems, lighting, power systems and so on to create a single, central platform to manage a building’s energy consumption. BEMS also controls and monitors building functions, including fire, smoke detection and alarms, motion detectors, CCTV, security and access control and lifts. BEMS helps to save energy cost, reduces carbon emission and improve building environment.
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Growing environmental concerns like energy consumption, shrinking natural resources such as fossil fuel and ozone layer depilation increases the focus towards the improvement of energy-saving, which led to the drive of the market. In addition, high energy cost and increasing campaigns and activities promoted by the government has led to companies to adopt energy-efficient systems and increases the demand for building energy management systems. Moreover, growing urbanization, the rapid development of smart cities and the major player also introducing new cost-effective BEM Systems to increase market penetration in emerging countries, which also increases the demand of BEMS during the forecast period. However, high initial investment for design and installation and high operation and maintenance cost are restraining the market growth.
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Various notable players in the Building Energy Management Systems market include ABB Ltd., CISCO Systems Inc., C3 IoT, Inc., Cylon Control Ltd., ENGIE, Emerson Electric Co., General Electric, Honeywell International Inc, International Business Machines Corporation (IBM), Johnson Controls Inc. and among others. Major players are focussing on product launch, acquisition, collaboration to expand their global reach and become a market competitive.
The Global Building Energy Management Systems market has been segmented on the basis of Component, Communication Technology, End User and Geography. Based on the component market is categorized into Software, Hardware and Services. Based on Software, the market is further segmented into Data Management, Asset Performance Optimization, Application Platform, HVAC System and Lightning System. On the basis of communication Technology type market is segmented into wired systems and wireless systems. Based on the end-user market is segmented into Residential, Commercial and Industrial and by geography.
Key questions answered in this research report:
- At what pace is the global building energy management systems market growing? What will be a growth trend in the future?
- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global building energy management systems market?
- What are the various application areas and how they are poised to grow?
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