Building Energy Management System Market Outlook 2024- by Goldstein Research
Date of publication: 23 March 2020
Global building energy management system market size is anticipated to reach USD 9.2 Billion by the end of 2024 expanding at a CAGR of 16% over the forecast period through 2024.
Building energy management system market is majorly driven by the government stringent regulatory pressure to minimize the energy consumption and its wastage in buildings. On the other hand, rising energy prices has significantly fostered the need for efficient management of energy costs in buildings with both residential and commercial facilities. The internet of things has significantly gained traction in past few years in the building energy management system market. Low cost sensors, controllers and secure communication networks are converting the data centre of the commercial building into a data-rich network for business improvement.
The best way to lower down the operating costs is to consume less energy. Intelligent building automation for energy management can drastically reduce the energy consumption by as much as 30 percent. Moreover, many tech giants and electronics companies are collaborating in order to lead the energy management market and to explore the untapped market opportunities. For instance, Panasonic Corporation and Schneider Electric collaborated in 2016 to provide integrated HVAC equipment and building management solutions to bring new levels of HVAC and energy efficiency in commercial buildings.
Global building energy management system market size is anticipated to reach USD 9.2 Billion by the end of 2024 expanding at a CAGR of 16% over the forecast period. Korea acquired an upper hand in Asia Pacific building energy management system market. This can be attributed towards rapidly growing industrialization in the region. In Asia Pacific region building energy management system market generated about 40% of the energy management system market in 2016, and expected to grow significantly owing to the rising adoption in various sectors such as Telecom & IT, Healthcare and manufacturing sector.
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By Component Type
o Communication Networks
§ Control Systems
By End Users
o North America (US, Canada) o Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe)
o Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa)
o Latin America (Brazil, Mexico and Rest of Latin America)
o Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific)
o Rest of the World
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“Global Building Energy Management System Market Outlook 2024” by Goldstein Research contains detailed overview of the global building energy management system market in terms of market segmentation by components type and by end users.
Further, building energy management system market report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. Global Building Energy Management System Market Report also provides competitive outlook of some of the major players which includes profiling of companies such as IBM Corp., Siemens AG, Schneider Electric, Honeywell International Inc., Cisco, Eaton, General Electric Company, Johnson Controls Inc., CA Technologies Ecova Inc. etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global building energy management system market trends that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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