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Building Energy Management Systems (BEMS) Market Projected To Reach USD 6 Billion By 2023: Global Market Insights Inc.

03-20-2017 09:50 AM CET | Industry, Real Estate & Construction

Press release from: Global Market Insights Inc.

Global Building energy management systems (BEMS) market size is projected to surpass USD 6 billion by 2023. Increasing regulatory pressure due to increasing energy wastage in building is predicted to drive the industry over the coming years.

Asia Pacific building energy management systems market size is forecast to experience significant growth. The surging demand for these systems can be attributed to increasing popularity of green building technologies across the region. Latin America is predicted to witness high growth prospects owing to increasing awareness regarding energy conservation over the forecast period

Rising awareness regarding efficient use of energy at corporate and government levels is anticipated to propel building energy management systems market demand in commercial, residential as well as industrial sectors. The building sector is primarily responsible for global greenhouse gas emission as well as energy consumption.

Surging energy prices and managing energy costs for commercial as well as residential buildings is expected to boost building energy management systems market size over the next few years. These sectors have been adopting various appropriate technologies for controlling, conserving, and monitoring energy.

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High energy consuming areas in buildings are office equipment, HVAC systems, catering, pumps, etc. Energy consumption in building amenities that mainly includes the use of fossil fuels adds to air pollution, which is likely to have adverse impact on the environment and also likely affect residents’ health. In order to manage the carbon dioxide (CO2) emissions and total energy consumption, numerous other energy management systems are being employed such as Facility Energy Management (FEMS), Industrial Energy Management (IEMS), Home Energy Management Systems (HEMS), and Cluster/Community Energy Management System (CEMS).

BEMS involves effective integration of software, hardware, ICT technologies and services. It helps monitor, control and automate lighting as well as HVAC functions in order to manage energy efficiency of the buildings. It also helps in enhancing dwellers’ productivity and comfort. These systems also share functionalities with various building automation technologies such as Building Management Systems (BMS) and building automation systems (BAS).

BMS and BEMS share numerous similarities apart from a unique distinction; BMS includes the energy management capabilities along with other functionalities that include alarm, fire, security, closed circuit television (CCTV), safety and mechanical building controls. The data gathered by BEMS is utilized by BMS and it is likely to become a vital component of BMS solution. This in turn is anticipated to positively impact building energy management systems market share over the forecast period.

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Advent of innovative technologies accompanied by maturing of existing technologies is predicted to drive applicability across various industry sectors. Rapid urban infrastructure development, particularly the swift growth of smart buildings is anticipated to be one of the major factors driving building energy management systems market share from 2015 to 2022.

Key software’s include asset performance optimization, data management, application platform, lighting system, and HVAC system. Wireless and wired are the types of communication technologies involved in this model. Key industry verticals include telecom and IT, manufacturing, office and commercial buildings, government and MUSH (Municipal, University, School and Hospital) systems.

U.S. BEMS market size is predicted to be the largest regional segment and is likely to maintain its dominance owing to rising interest in highly developed energy technologies as well as implementation of demand response programs over the coming years. These programs are likely to promote restricted energy usage and enable customers to tackle changing prices and handle the utility needs for saving peak loads.

Participants constituting global building energy management systems share include Azbil, ABB Group, BuildingIQ, Carma Industries, C3 Energy, Cylon Active Energy, Daintree Networks, Daikin Industries, Echelon Corp., Elster EnergyICT, Ecova, Inc., EnerNOC, Inc., and FirstFuel Software. Notable players also include GridPoint, eSight Energy, Honeywell International, Ingersoll-Rand PLC, IBM, Johnson Controls, Jones Lang LaSalle, Schneider Electric, Optimum Energy LLC, Siemens AG, Toshiba, Verisae, and SkyFoundry.

Browse Related Reports:

• Energy Efficient Construction Market Size Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2023

https://www.gminsights.com/industry-analysis/energy-efficient-construction-market

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
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