Intelligent Building Energy Management Systems Market 2023-2030

Global Intelligent Building Energy Management Systems Market Surges to US$ 891.6 Million in 2022, Poised to Reach US$ 2,073.3 Million by 2030

The Global Intelligent Building Energy Management Systems (IBEMS) market exhibited robust growth, reaching a valuation of US$ 891.6 million in 2022. Projections indicate an impressive trajectory, with expectations to soar to US$ 2,073.3 million by 2030, reflecting a remarkable Compound Annual Growth Rate (CAGR) of 11.1% during the forecast period of 2023-2030.

The surge in market value is attributed to the integration of building systems, enhancing synchronization, monitoring, and optimization of energy consumption data. The latest generation of Building Energy Management Systems (BEMS) collaborates closely with utility companies, empowering building owners to capitalize on periods of lower power costs and demand, resulting in efficient scheduling and reduced expenditures.

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Key Drivers of IBEMS Market Growth:
The intelligent building energy management software empowers operators to enhance building performance through comprehensive control, monitoring, and alarm features. This capability, coupled with the integration of 5G, IoT, AI, and other cutting-edge technologies, positions IBEMS as a pivotal solution for smart communities, buildings, real estate, offices, parking, and homes. Notably, the Shanghai Intelligent Building Technology (SIBT) event, held from September 2-4, 2020, at the Shanghai New International Expo Centre, underscored the industry's commitment to exploring innovative applications.

China's Dominance in the Global Intelligent Building Market:
The global intelligent building market, anticipated to witness a CAGR of 11.7%, is expected to surge from USD 60.7 billion in 2019 to USD 105.8 billion in 2024. China plays a central role, holding half of the regional market shares and poised to experience the highest CAGR. Market growth drivers include the increased acceptance of IoT technology in building management systems, heightened focus on space efficiency, and enhanced standards and regulations.

Technological Advancements Transforming Building Efficiency:
Technology has revolutionized the building and real estate sectors, with intelligent buildings emerging as advanced solutions for creating more livable, effective, and comfortable spaces. Konnect Building Solutions, a Sydney-based construction business, exemplifies this trend by utilizing smart technologies to construct energy-efficient homes, prioritizing environmental impact reduction and client utility cost savings.

Addressing Energy Efficiency with Innovative Solutions:
The market witnesses a growing demand for energy efficiency solutions, exemplified by ABB's unveiling of a home energy management and monitoring solution in October 2022. This solution integrates a smart home system, energy management, and electric vehicle (EV) charging controls to address rising energy costs, power grid demands, and the proliferation of EVs.

Lingering Challenge: Lack of Awareness:
However, challenges persist, with the lack of awareness hindering the global market's development. Limited knowledge about IBEMS among building owners and facility managers may lead to the adoption of more traditional energy management systems, limiting IBEMS market penetration. Educating stakeholders about the potential economic advantages of IBEMS is crucial to overcoming this hurdle.

Market Segmentation and Geographical Share:
The global IBEMS market is segmented based on components, systems, end-users, and regions. The software component segment dominates the market with over one-third of the total global segmental market share.

North America Leads in Market Share:
Commercial buildings in the United States account for approximately 20% of the energy produced, contributing to 38% of greenhouse gas emissions. North America dominates the global IBEMS market, given the significant contribution of commercial buildings to electricity consumption and pollution rates.

Major Players in the IBEMS Market:
Key players driving innovation and competitiveness in the IBEMS market include Siemens AG, Schneider Electric SE, Honeywell International Inc., Johnson Controls International plc, ABB Ltd., Cisco Systems, Inc., Eaton Corporation plc, IBM Corporation, Schneider Electric, and BuildingIQ Inc.

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