Global Building Energy Management System (BEMS) Market Research Report: Information By Component (Hardware, Software, and Services), By Type (Wired and Wireless), By Application (HVAC and Non-HVAC), and By Region (North America, Europe, Asia-Pacific, and Rest Of The World) Global Economy Insights, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast Till 2032.
The report offers the value (in USD Billion) for the above segments.
Global Building Energy Management System (BEMS) Market Size was valued at USD 5.5 Billion in 2022. The Building Energy Management System (BEMS) market Type is projected to grow from USD 5.21 Billion in 2023 to USD 15.48 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.80% during the forecast period (2023 - 2032). An improvement in the management of energy consumption across commercial, industrial, and public sector organisations as well as an increase in activity in the construction sector, are the key market drivers enhancing the market growth.
An uptick in the management of energy use across commercial, industrial, and public sector organizations is driving the market growth
The need for energy management systems (EMS) has increased as a result of a rise in the control of energy use across commercial, industrial, and public sector organisations. Sophisticated energy-efficient technology should be used to lower greenhouse gas emissions, lower potential sensitivity to fluctuating energy prices, and boost productivity. According to data published by the World Resources Institute in February 2020, energy use is the main driver of human-induced greenhouse gas emissions. In light of the present trend, industry participants may search for IoT-based solutions to optimise energy use and manage the flow of energy.
The demand for energy management system software has increased as a result of the quick digitization of the energy sector and the paradigm shift that electrification has brought about. EMS is essential when it comes to helping businesses find and adopt energy-saving solutions. EMS is projected to receive support for its ability to offer consistency in energy provision, flexibility in power generation, and an increase in energy efficiency. In order to limit energy use, the framework for environmentally friendly energy consumers will also give priority to occupancy and quality sensors. Technologies that consume less energy could support the drive towards decarbonization, which does not require fossil fuels.
Edge AI and other contemporary developments have gained enormous popularity in both rich and developing economies, largely as a result of the onslaught of the COVID-19 epidemic. The rise of hybrid workplaces and cyclical class schedules helped the smart building management movement gain traction. Edge AI has also emphasised the benefits of building management systems (BMS) for enhancing occupant comfort, lowering energy consumption, and enhancing safety. As a result of the outbreak, building managers gave AI-enabled BMS and automated and optimised energy consumption top priority. The emphasis on EMS, under the post-COVID vision, could pave the way for low-carbon economic growth.
The need for HVAC control and energy management systems is driven by an increase in construction activity, which includes work on buildings and infrastructure. This increased activity also promotes the market's growth. Due to user level security control, faster data scan, energy-saving capability, and LCD screen display for metres, wired energy management systems are increasingly being used in HVAC and non-HVAC areas, which is what is driving the growth of the building energy management solution market. Furthermore, a surge in demand for HVAC housing as a result of the world's rapid population growth is fueling the market for building energy management solutions. Major companies including Johnson Controls, Walmart Inc., Schneider Electric, and others are serving the market by selling building energy management solution products. Thus, driving the Building Energy Management System (BEMS) market revenue.
A recent market research report added to repository of Intellectual Market Insights Research is an in-depth analysis of Global Building Energy Management Systems (BEMS) Market. On the basis of historic growth analysis and current scenario of Building Energy Management Systems (BEMS) market place, the report intends to offer actionable insights on global market growth projections. Authenticated data presented in report is based on findings of extensive primary and secondary research. Insights drawn from data serve as excellent tools that facilitate deeper understanding of multiple aspects of global Building Energy Management Systems (BEMS) market. This further helps users with their developmental strategy.
This report examines all the key factors influencing growth of global Building Energy Management Systems (BEMS) market, including demand-supply scenario, pricing structure, profit margins, production and value chain analysis. Regional assessment of global Building Energy Management Systems (BEMS) market unlocks a plethora of untapped opportunities in regional and domestic market places. Detailed company profiling enables users to evaluate company shares analysis, emerging product lines, pricing strategies, innovation possibilities and much more.
The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the BUILDING ENERGY MANAGEMENT SYSTEM market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The BUILDING ENERGY MANAGEMENT SYSTEM sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Aerospace Foam industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the BUILDING ENERGY MANAGEMENT SYSTEM sector. Major players in the Building Energy Management System (BEMS) market, including General Electric Company, Honeywell International Inc, Siemens AG, Schneider Electric, Hitachi Ltd, Rockwell Automation Inc., Emerson Electric Co, Rockwell Automation Inc, Mcloud Technologies Inc, and ABB Ltd, are attempting to increase market demand by investing in research and development operations.
Siemens Energy AG (Siemens Energy) is an energy technology company. This company develops, produces, sells, and installs multi-megawatt wind turbines, gas turbines, gas engines, steam turbines, and whole systems. The company offers a range of products and services for power production, renewable energy, compression and expansion, automation, smart grid, mechanical drives, and power transmission and distribution. It also provides solutions for the extraction, refinement, and transportation of crude oil and gas. Green energy solutions for hydrogen generation are also offered by Siemens Energy. Air separation, construction, ceramics, chemicals and pharmaceuticals, food and beverage, manufacturing, marine, metals, power, oil and gas, pulp and paper, sugar and textiles are just a few of the industries that the company serves. Siemens Energy is based in Munich, Germany, which is in the state of Bavaria. Siemens Energy and Syntax, a well-known multi-cloud and multi-ERP managed cloud provider for mission-critical applications, will construct and implement Syntax's new SAP Digital Manufacturing Cloud (DMC) infrastructure for more than 80 production sites throughout the world.
ABB Ltd (ABB) provides technology and solutions for automation and electricity. The company offers products, systems, services, and solutions for industrial automation, motion, and electrification. Its products increase energy efficiency, increase industrial production, and harness power reliability. Its solutions also include engineering expertise and software. As distributors, installers, wholesalers, machine manufacturers, original equipment manufacturers, and system integrators, ABB provides its products both directly to consumers and through third-party channel partners. The business provides customers with industrial equipment and systems that are digitally connected and enabled across Asia, the Americas, the Middle East, Africa, and Europe in the utilities, industry, transportation, and infrastructure sectors. ABB's corporate headquarters are in Zurich, Switzerland. In an effort to lower production costs by supplying real-time awareness of energy use throughout operations, ABB launched its ABB Ability OPTIMAX energy management system to the green hydrogen industry in November 2022.
September 2022: A highly scalable Linux and Kubernetes-based platform designed to execute thousands of workloads on a single system was unveiled as the latest edition of IBM's LinuxONE server.
July 2022: Eaton and The Flow Consortium collaborated to create and present an Integrated Electric Vehicle Charging Infrastructure, which is funded by the European Union.
Building Energy Management System (BEMS) Type Outlook
Building Energy Management System (BEMS) Component Outlook
Building Energy Management System (BEMS) Application Outlook
The report also helps in understanding Global Building Energy Management Systems (BEMS) Market dynamics, structure by analyzing the market segments, and project the Global Building Energy Management Systems (BEMS) Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Building Energy Management Systems (BEMS) Market make the report investor’s guide.
Building Energy Management System (BEMS) Component Insights
The global Building Energy Management System (BEMS) market segmentation, based on Component, includes hardware, software, and services. Software segment dominated the global Building Energy Management System (BEMS) market in 2022. The software category includes lighting systems, heating, ventilation, and air conditioning (HVAC), data management, application platforms, and asset performance optimisation.
Building Energy Management System (BEMS) Type Insights
The global Building Energy Management System (BEMS) market segmentation, based on Type, includes wired and wireless. Wired segment dominated the global market in 2022. A rise in construction-related activities, such as those involving the building and construction of infrastructure, is the primary factor. The high initial cost involved with setting up energy management systems and the price volatility in energy management, however, severely restrict the market for building energy management solutions.
Building Energy Management System (BEMS) Application Insights
The global Building Energy Management System (BEMS) market segmentation, based on Application, includes HVAC and Non-HVAC. HVAC segment dominated the global market in 2022. The increasing investments being made by major market players like Schneider Electric, IBM Corporation, and Honeywell International Inc. for the integration of data analytics software in their current building energy management systems are predicted to support the future revenue growth of the software platforms market.
Building Energy Management System (BEMS) Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Building Energy Management System (BEMS) Market dominated this market in 2022 (45.80%). Due to the increasing use of smart grids and investments in infrastructure, it is projected that the United States and Canada will present business prospects. According to the IEA, investments in energy grids would increase by 10% in 2021, with the US being one of the top countries making infrastructure investments. A further factor driving investors to fund EMS is the region's sharp increase in demand for smart energy. The largest demand for IoT-based solutions is projected to be in the building, residential, and commercial sectors. Further, In the North American area, the U.S. BUILDING ENERGY MANAGEMENT SYSTEM market had the biggest market share, while the Canada BUILDING ENERGY MANAGEMENT SYSTEM market had the quickest rate of expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Europe Building Energy Management System (BEMS) market accounted for the healthy market share in 2022. In the region, the manufacturing sector has grown as a result of several government initiatives. Further, In the European region, the German BUILDING ENERGY MANAGEMENT SYSTEM market had the biggest market share, and the U.K. BUILDING ENERGY MANAGEMENT SYSTEM market had the quickest rate of growth.
The Asia Pacific Building Energy Management System (BEMS) market is expected to register significant growth from 2023 to 2032. The government programmes "Make in India" and "Made in China 2025" from both China and India have increased the manufacturing sector. In the coming years, industries are likely to use building energy management systems more frequently as a result of the region's explosive growth in the manufacturing sector. Moreover, In the Asia-Pacific region, the Indian BUILDING ENERGY MANAGEMENT SYSTEM market had the quickest rate of growth while China's BUILDING ENERGY MANAGEMENT SYSTEM market had the greatest market share.
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Frequently Asked Questions
• The global Building Energy Management System (BEMS) Market size was valued at USD 5.5 Billion in 2022.
• The global market is projected to grow at a CAGR of 13.80% during the forecast period, 2023-2032.
• North America had the largest share in the global market.
• The key players in the market are General Electric Company, Honeywell International Inc, Siemens AG, Schneider Electric, Hitachi Ltd, Rockwell Automation Inc., Emerson Electric Co, Rockwell Automation Inc, Mcloud Technologies Inc, and ABB Ltd
• The Wired Type dominated the market in 2022.
• The Software Component had the largest share in the global market.
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