Global Building Energy Management System Market Report

Dublin, Aug. 16, 2022 (GLOBE NEWSWIRE) — The “Global Building Energy Management System (BEMS) Market: Analysis by components (services, software and hardware), by end user (residential, commercial and institutional and industrial), by region size and trends with impact of COVID-19 and forecast to 2027″ report has been added to ResearchAndMarkets.com’s offer.

The global building energy management systems market in 2021 was valued at US$5.20 billion. The market is expected to reach US$10.64 billion by 2027. Building energy management system is a complete system of hardware, software and services.

The system helps to manage the energy consumption through many techniques such as information and communication technologies, etc. efficiency and improve comfort.

Due to the increase in urban population, increasing consumer awareness of the development and use of latest technological products, and an increase in the number of new constructions of buildings, institutes and complexes, would propel the market growth in the coming years. The market is expected to grow at a CAGR of 12.67% during the forecast period 2022-2027.

Market dynamics:

  • Growth Drivers: One of the most significant factors impacting the global building energy management systems market is the increase in energy consumption. The increase in energy consumption has led to the increase in electricity production, which has directly influenced the production as well as the cost of consumption. Therefore, BEMS being an energy-saving technology would attract more people to effectively manage the use of natural resources and reduce the burden of electricity prices. Additionally, the market has witnessed growth over the past few years, owing to factors such as rapid urbanization, growing adoption of smart home products, rising carbon dioxide emissions, acceleration of construction activities, increase in consumer spending, growth in consumer awareness, adoption of smart sensors, and many other factors.
  • Challenges: However, the market has faced some challenges in particular, high installation costs, lack of trained experts, etc.
  • Trends: The market is expected to grow at a rapid rate over the forecast period, owing to various latest trends such as cloud technology, rise in adoption of Internet of Things (IoT), decline fossil fuels, government initiatives and regulations. , etc. The infusion of IoT into BEMS and its fusion with multiple functionalities such as lighting, security and heating enable the user to effectively utilize these equipments. Hence, the growth of the IoT market would also support the growth of the BEMS market.

COVID-19 impact analysis and way forward:

COVID-19 has had a negative impact on the market growth in 2020. Energy demand for industrial and commercial buildings has decreased significantly in many countries, accompanied by an increase in residential energy demand. The restriction of social distancing has led to a sharp drop in the use of commercial buildings. However, in 2021, the stabilization of the global economy and the removal of barriers to industrial manufacturing have led to considerable growth in the BEMS market.

Competitive landscape:

The global building energy management systems market is moderately fragmented, with a large number of small and medium-sized manufacturers accounting for a significant share of revenue.

Key Players of the Global Building Energy Management Systems Market are:

  • Honeywell International Inc.
  • Enel SpA (Enel X)
  • Johnson Controls International PLC
  • ABB Group
  • Siemens AG
  • General Electric Company (GE)
  • Schneider Electric SE
  • Emerson Electric Co.
  • Azbil Society
  • Landis+Gyr
  • Robert Bosch GmbH
  • IBM Corporation

Main topics covered:

1. Summary

2. Presentation

3. Global Market Analysis
3.1 Global Building Energy Management Systems Market: An Analysis
3.1.1 Global Building Energy Management Systems Market: An Overview
3.1.2 Global Building Energy Management System Market by Value
3.1.3 Global Building Energy Management System Market by Component (Services, Software and Hardware)
3.1.4 Global Building Energy Management System Market by End User (Residential, Commercial & Institutional & Industrial)
3.1.5 Global Building Energy Management System Market by Region (Europe, North America, Asia Pacific and Rest of World (ROW)
3.2 Global Building Energy Management System Market: Component Analysis
3.2.1 Global Building Energy Management System Market by Component: An Overview
3.2.2 Global Building Energy Management System Services Market by Value
3.2.3 Global Building Energy Management System Software Market by Value
3.2.4 Global Building Energy Management System Hardware Market by Value
3.3 Global Building Energy Management System Market: End User Analysis
3.3.1 Global Building Energy Management System Market by End User: An Overview
3.3.2 Global Residential Building Energy Management System Market by Value
3.3.3 Global Commercial and Institutional Building Energy Management System Market by Value
3.3.4 Global Industrial Building Energy Management System Market by Value

4. Regional Market Analysis

5. Impact of COVID-19
5.1 Impact of COVID-19 on the Building Energy Management Systems Market
5.2 Impact of COVID-19 on energy consumption in buildings
5.3 Impact of COVID-19 on energy demand
5.4 Post-COVID-19 Impact on the Building Energy Management Systems Market

6. Market dynamics
6.1 Drivers of growth
6.1.1 Rapid urbanization
6.1.2 Increased energy consumption
6.1.3 Growth in Adoption of Smart Home Products
6.1.4 Increased carbon dioxide emissions
6.1.5 Acceleration of construction activities
6.1.6 Increase in consumer spending
6.1.7 Adoption of smart sensors
6.1.8 Growth in Consumer Awareness
6.2 Challenges
6.2.1 High installation cost
6.2.2 Lack of trained experts
6.3 Market trends
6.3.1 Cloud technology
6.3.2 Increasing Adoption of Internet of Things (IoT)
6.3.3 Decline of fossil fuels
6.3.4 Government initiatives and regulations

7. Competitive Landscape

8. Company Profiles
8.1 Honeywell International Inc.
8.1.1 Business overview
8.1.2 Operating segments
8.1.3 Business strategy
8.2 Enel SpA (Enel X)
8.2.1 Overview of activities
8.2.2 Operational business
8.2.3 Business strategy
8.3 Johnson Controls International PLC
8.3.1 Company Overview
8.3.2 Operating segments
8.3.3 Business Strategy
8.4 ABB Group
8.4.1 Business overview
8.4.2 Areas of operation
8.4.3 Business strategy
8.5 Siemens AG
8.5.1 Company Overview
8.5.2 Operating segments
8.5.3 Business strategy
8.6 General Electric Company (GE)
8.6.1 Company Overview
8.6.2 Operating segments
8.6.3 Business strategy
8.7 Schneider Electric SE
8.7.1 Company Overview
8.7.2 Operating segments
8.7.3 Business strategy
8.8 Emerson Electric Co.
8.8.1 Company Overview
8.8.2 Operating segments
8.8.3 Business strategy
8.9 Azbil Society
8.9.1 Company Overview
8.9.2 Operating segments
8.9.3 Business strategy
8.10 Landis+Gyr
8.10.1 Company Overview
8.10.2 Regions of operation
8.10.3 Business strategy
8.11 Robert Bosch GmbH
8.11.1 Company Overview
8.11.2 Operating business segment
8.11.3 Business Strategy
8.12 IBM Corporation
8.12.1 Company Overview
8.12.2 Operating segments
8.12.3 Business strategy

For more information on this report visit https://www.researchandmarkets.com/r/407t4


        

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