Building Energy Management Solutions Market Size & Analysis By 2022 -2029 -Siemens Building Technologies, Honeywell International, Schneider Electric, Rockwell Automation, Johnson Controls, ABB, Azbil Corporation, Cylon Active Energy, BEMS Ltd, United Tec

New Jersey, United States,- The global building energy management solution market size was valued at $9.8 billion in 2021, and is projected to reach $52.2 billion by 2032, growing at a CAGR of 22.2% from 2022 to 2032.

Mr Accuracy Reports , Building Energy Management Solutions market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Building Energy Management Solutions market by region.

Increase in activities in the construction sector, which includes activities of construction buildings & infrastructure propels demand for HVAC control, and energy management systems, fuels the growth of the market. A rise in use of wired energy management system in HVAC and Non-HVAC spaces, owing to user level security control, faster data scan, energy saving ability, and LCD screen display for meters, which boost the adoption of energy management solutions, drive the growth of the building energy management solution market. Furthermore, surge in demand for HVAC housing, owing to rapid population growth globally is the major factor that propels growth of the building energy management solution industry.
Some of the Major Key players profiled in the study are Siemens Building Technologies, Honeywell International, Schneider Electric, Rockwell Automation, Johnson Controls, ABB, Azbil Corporation, Cylon Active Energy, BEMS Ltd, United Technologies Corporation, Automated Logic, Gridpoint Inc, Acuity Brands, EnerNoc Inc, Daikin Industries, Emerson Climate Technologies, CA Technologies, eSight Energy, Elster Group, Advanced Energy Management

Request To Download Sample of This Strategic Report @ https://www.mraccuracyreports.com/report-sample/381704

Market Overview

Wired segment dominate the market in 2021. Wireless segment is anticipated to grow at a significant CAGR of 18.3% during the forecast period. Increase in activities in the construction sector, which includes activities of construction buildings & infrastructure propel.However, high initial cost related to deploying energy management systems, and price volatility in energy management are major restraints for the growth of the building energy management solution market. Furthermore, government initiatives toward the construction of new smart homes are expected to provide lucrative opportunities for the building energy management solution market growth.

Due to the COVID-19 pandemic, according to World Bank statistics, global GDP has shrunk by about 3.5% in 2020. Entering 2021, Economic activity in many countries has started to recover and partially adapted to pandemic restrictions. The research and development of vaccines has made breakthrough progress, and many governments have also issued various policies to stimulate economic recovery, particularly in the United States, is likely to provide a strong boost to economic activity but prospects for sustainable growth vary widely between countries and sectors. Although the global economy is recovering from the great depression caused by COVID-19, it will remain below pre-pandemic trends for a prolonged period. The pandemic has exacerbated the risks associated with the decade-long wave of global debt accumulation. It is also likely to steepen the long-expected slowdown in potential growth over the next decade.

Region wise, the building energy management solution market share analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America region dominated the market in 2021. Various government initiatives have led to growth of the manufacturing sector in the region. For instance, 'Make in India' launched by the Government of India and 'Made in China 2025' launched by the Government of China have led to rise in growth of the manufacturing sector. Rapid growth of the manufacturing sector in the region is expected to boost use of building energy management systems in industries in the coming years.

The key market players profiled in the report of building energy management solution market report include ABB Ltd, Accrent Inc, Mcloud Technologies Inc, General Electric Company, Honeywell International Inc, Hitachi Ltd, Siemens AG, Schneider Electric, Emerson Electric Co, and Rockwell Automation Inc. The major players operating in the global market have adopted key strategies such as business expansion and acquisition to strengthen their market outreach and sustain the stiff competition in the market.

Region Segmentation
North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Other)
Asia Pacific (China, Japan, India, Korea, Southeast Asia)
Europe (Germany, UK, France, Spain, Italy)
Middle East and Africa (Middle East, Africa)

Building Energy Management Solutions Segmentation by Type:

Hardware, Software, Services.

Building Energy Management Solutions Segmentation by Application:

Commercial, Residential, Other

Please click here today to buy full report @ https://www.mraccuracyreports.com/checkout/381704

he U.S. Market is Estimated at $1.4 Billion in 2022, While China is Forecast to Reach $758.2 Million by 2026

The Building Energy Management Systems (BEMS) market in the U.S. is estimated at US$1.4 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$758.2 Million by the year 2026 trailing a CAGR of 16.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.9% and 9.5% respectively over the analysis period.

Hardware Segment to Reach $714 Million by 2026

Global market for Hardware segment is estimated at US$447.1 Million in 2022, and is projected to reach US$714 Million by 2026 reflecting a compounded annual growth rate of 10.5% over the analysis period. United States constitutes the largest regional market for Hardware segment, accounting for 36.0% of the global sales. China is poised to register the fastest compounded annual growth rate of 13.8% over the analysis period, to reach US$67.3 Million by the close of the analysis period.

Opportunities: Growth of urbanization and digitalization
The anticipated urbanization of the world poses significant environmental, economic, and social sustainability challenges. Consequently, urban processes and practices are becoming highly responsive to a data-driven urban scenario that is the key mode of production for smart cities. Such form is increasingly being directed toward tackling sustainability challenges in the light of the escalating urbanization trend. Significant energy savings can be done by installing energy management systems to help monitor energy consumption. It would also help predict the type of energy-efficient technique that can be applied in that situation. This implies that the city governments in the technologically advanced nations will face significant challenges due to the issues engendered by urban growth. The increasing urbanization eventually affects the growth of digitalization among countries. This is expected to be an opportunity for the growth of the energy management systems market.

Challenges: Lack of awareness in small and medium-sized businesses
The major challenge related to energy efficiency is the lack of awareness among the small and medium-sized businesses operating worldwide. They are hesitant to invest in energy-efficient technologies and are unaware of the policies and benefits they can pursue with the help of energy management systems. The major players are aiming to focus on sustainability and energy efficiency to tackle climate change. However, since most small and medium-sized enterprises are still unaware of the benefits of energy-efficient technologies, they lose out on the cost savings that can be done with the help of energy management systems. Nevertheless, governments are implementing various policies and programs to increase awareness among people regarding energy management

Call Us - UK +44 7452119323
USA +1 8045001224
Email us - sales@mraccuracyreports.com
30 Crawley Lane, West Sussex, RH10 7EG, United Kingdom
3351 Green Turtle Rd, Regina, SK S4V 3N6, Canada

MR Accuracy Reports is a Market Research and consulting company that accomplishes requirement of research agencies,
small, medium and large corporations, global business leaders, government organizations,
SME's, Individual & Start-ups, top management consulting firms

This release was published on openPR.