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Building Energy Management Systems Market Segmentation By Component (Hardware, Software, and Services); By Communication Technology (Wired Systems and Wireless Systems); By End-User (Government (Defense & Government Utility Buildings), Industrial, Residential, and Commercial) - Global Demand Analysis & Opportunity Outlook 2028

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Extensive insights into the Growth of Building Energy Management Systems Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS
  • January 22, 2020: According to the World Economic Forum’s Annual Meeting, climate change can be controlled by transforming our cities and buildings. The article explained how decarbonizing our cities and buildings are both crucial and as well as very complex but digitalization will be the most important enabler of this revolution.

  • October 14, 2019: C3.ai, AI software provider and ENGIE, an electric utility company, announced their collaboration to drive the AI-powered energy management solution for universities, municipalities, corporate campuses, and hospitals. They will help large institutions to attain their sustainability and financial objectives through energy optimization, capital planning, and campus engagement.

Building Energy Management Systems Overview

Presently, the world is facing two important trends: a rise in fossil fuel prices and distresses for the climate change. Both of these trends inspire energy conservation. According to the World Business Council for Sustainable Development, globally buildings consume more than one-third of total end-use energy and are a root cause of a fifth of total greenhouse gas emissions. Reducing energy use in buildings is vital for climate change, but at the same time, it is also a substantial business opportunity.

Building Energy Management Systems (BEMS) are hardware-software systems that are installed in buildings to observe and regulate the energy requirements of a building and to ensure the efficiency and optimum utilization of the energy. They monitor a building's energy consumption by electrical and mechanical equipment such as heaters, ventilators, air conditioners, and lighting to increase energy efficiency, and reduce energy costs. These systems are advanced with increasing attention to the usage of data in commercial buildings driven by technological trends such as the Internet of Things (IoT) and cloud networking.

As per the study which was conducted in the year 2018 by Johnson Controls Energy Efficiency Indicator, 50% of 1,900 worldwide organizations in 20 countries strategize to have at least one zero carbon (or net-zero energy) building over the next ten years.

Market Size and Forecast

The building energy management systems market is expected to attain a notable CAGR over the forecast period, i.e., 2020-2028. The building energy management systems market is segmented by component, communication technology, end-user, and region. Among product component segmentation, the software segmentation is expected to grab major share in the building energy management systems market. This is attributed to the integration of data analytics software in existing modules that help the organizations to run algorithms for optimized solutions. Dominant market players such as Honeywell International Inc., IBM Corporation, and Schneider Electric have assimilated the data analytics software to their existing energy management system modules for the effective monitoring of the data. The advent of new technologies such as IoT and others are also significantly contributing towards the growth of this segment. CLICK TO DOWNLOAD SAMPLE REPORT

Growth Drivers

Evolution of technology

Emerging technologies such as the Internet of Things (IoT) and cloud networking are surfacing as a major contributor for more advanced systems. It has been observed that to monitor multiple buildings at the same time and integrate their tasks have become feasible. The heating and the cooling necessities among buildings can be pooled, resulting in energy saving and management of an individual building to the optimal.

Innovations in the global and regional markets are taking place with the majority of dominant players coming up with improved solutions. These factors are driving the growth of the building energy management systems market.

Restraints

Huge investment and deployment

The market growth might be hampered by enormous initial investment for design and installation, high operation and maintenance cost, and establishing appropriate policies for the building energy management systems.

Market Segmentation

Our in-depth analysis of the building energy management systems market includes the following segments:

By Component

  • Software 
    • Data Management
    • Asset Performance Optimization
    • Application Platform
    • HVAC System
    • Lightning system
  • Hardware
  • Services 
    • Consulting & Training
    • Support & Maintenance

By Communication Technology

  • Wired Systems
  • Wireless Systems

By End-User

  • Residential
  • Commercial 
    • Retail
    • Healthcare
    • BFSI
    • IT & Telecom
    • Hospitality
  • Others
  • Government  (Defense & Government Utility Buildings)
  • Industrial

By Region

Geographically, the building energy management systems market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.

North America is predicted to dominate the global building energy management systems market in the next 8 years owing to technological maturity, well-established infrastructure network, widespread adoption of building energy management systems across verticals, and the massive growth of the industrial sector in the region. The major players operating in the building energy management systems market are from North America only and the existing datacentre facilities are also further observing expansion.

Europe is projected to witness decent growth in the coming few years owing to favorable government projects, environmental concerns, and high adaptation of technology. The Powerhouse Brattorkaia, in Trondheim, Norway designed by the Powerhouse alliance, is the world’s northernmost energy-positive building.

The energy management systems market is expected to witness the rapid growth in the Asia Pacific region on account of technological advancements, increasing commercial and residential development, rapid industrialization, rebates, and tax incentives from various administrations across the region, particularly in China, Japan, and India, which are estimated to further stimulate the market growth.

Latin America and the Middle East & Africa represent immense potential in terms of the adoption of building energy management systems solutions. Huge population growth and rapid industrial development are few reasons to drive the growth of building energy management systems in the region. Growing environmental distress has led the Middle Eastern region to make sturdy progress in energy consumption and efficiency through sustainable development. The new Bee’ah Headquarters under construction in Sharjah, United Arab Emirates has the aim of being the smartest and most sustainable building in the Middle East region.

The building energy management systems market is further classified based on region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • the Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis.

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