Building Energy Management Systems Market is estimated to reach USD 8412 million by 2027, growing at a CAGR of 12.70% during the forecast period, owing to its ability to monitor the energy needs.

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Key Drivers

The significant factors contributing to the growth of the global building energy management systems market include the increasing awareness regarding the efficient use of energy at the corporate and government level, followed by the strong demand for these systems in commercial, industrial, and residential sectors across the globe. The rapidly increasing price of energy and electricity is pushing the end-users to build energy management systems to reduce the overall consumption of energy and optimize the building’s operation at the same time. As per the report published by Statista, the global electricity demand was nearly 22 petawatt hours in 2017 and is predicted to reach 35.3 petawatt hours, by the end of 2040, which is expected to boost the Building Energy Management Systems Market size in the approaching years. Additionally, the rising emphasis on decreasing the carbon emissions to save the environment is directly surging the demand of these systems over the coming years.

Moreover, the limited availability of fossil fuels and rising adoption of HVAC systems in the buildings are some other factors supplementing the market growth. According to the Bloomberg report, the Global HVAC System Market is forecast to reach USD 455.96 billion by the end of 2028, exhibiting a CAGR of 10.8% CAGR over the forecast period (2022-2028), which will boost the market growth in the upcoming years. The continuous technological advancement and rapid innovations in building energy management systems have amplified the possibilities of usage of BEMS, thus attracting many end-users to opt for these systems. BEMS improves energy efficiency and utilization by restricting the operations of the equipment. Moreover, the emerging trend of collaborating directly with utility enterprises to make them aware of the power rate and demand, thus allowing proper scheduling of high power use activities to reduce cost will further accelerate the market’s demand. The ongoing coronavirus crisis is paving the way for the growth of the building energy management systems market, especially in 2020. With the employee health and safety being the priority in this pandemic, the employers are concerned about the wellness of their employees. This is promoting them to opt for intelligent building management systems that are equipped with enhanced sensing and control technologies to create an ideal environment that promotes health, comfort, and productivity at the same time. However, the insufficient knowledge amongst consumers about Building Energy Management Systems will restrain the market growth.

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Software Segment Analysis

Based on the software, the market is segmented into data management, asset performance optimization, application platform, HVAC system, and lighting system. Among these, the HVAC systems segment is expected to experience a higher CAGR over the forecast period. This is attributed to the rising emphasis on reducing energy consumption, drastically changing weather conditions, and the increasing number of government rebate programs and tax credit. The heat, ventilation, and cooling (HVAC) system are economically viable solutions and helps in efficiently regulating the internal environment conditions of a particular building or house. Increasing deployment of HVAC systems in residential buildings and increasing emphasis on reducing carbon emissions, will boost the market growth.

Communication Technology Segment Analysis

On the basis of communication technology, the market is segmented into wireless and wired. The wireless segment is projected to grow at a higher CAGR during the forecast period. This is attributed to the accelerating demand for an advanced building management system that can be easily controlled from a remote location and the rapid digitalization around the world. The increasing penetration of smart devices and the growing requirement for wireless connected systems is further energizing the demand of the market. The wireless building energy management systems are highly reliable, flexible, needs less time to install, and offers better performance as compared to the conventional hard-wired systems.

Industry Segment Analysis

Based on the industry, the office and commercial building segment is expected to grow at a faster CAGR over the forecast period. The increasing deployment of building energy management systems in corporate offices, large shopping complexes, and public transport areas, such as airports and railway stations, are the key factors driving the growth of the segment over the coming years. Furthermore, the increased requirement for energy-efficient lighting systems and HVAC control systems to reduce energy consumption and improve the living standards is further boosting the segment’s growth.

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Regional Analysis

Based on the region, the Asia-Pacific region is projected to lead the market over the forecast period. The rapid expansion in the construction industry, especially in developing economies such as India and China, along with the increasing number of government initiatives to promote energy consumption, are the key factors that are responsible for driving the growth of the market in this region. In addition to this, the emerging trend of developing smart cities to improve the quality of life is directly surging the demand for building energy management systems. large number of installations of BEMS in China, Japan, India, and South Asian nations. The BEMS market in Asia Pacific is anticipated to expand at a significant pace during the forecast period due to the increase in demand for residential and industrial buildings.

Europe is predicted to expand at a higher CAGR over the upcoming period, owing to the growing demand for smart grid solutions for the modernization of traditional power grids. Besides, the European Union has introduced various energy efficiency measures and standards, which has bolstered the demand for the power management system across Europe.

Top Market Players

Various notable players operating in the market include ABB, Accenture, Cisco, Emerson Electric Co., General Electric, Hitachi Ltd., Honeywell International Inc., IBM, Ingersoll Rand Security Technologies, Johnson Controls, and Schneider Electric, among others.

 Key Developments: 

• • In 2020, Emerson Electric Co. successfully acquired Verdant, a leading provider of energy management solutions. Through this acquisition, Emerson Electric Co. strengthens its portfolio of the thermostat and other sustainable solutions.
  • In 2020, Honeywell International Inc., launched an integrated set of solutions to help building owners to improve the health of their building environments and operate more cleanly and safely.
  • In 2019, Accenture collaborated with Snam, one of the world’s leading energy infrastructure companies, to examine solutions based on Internet of Things (IoT) technologies to boost innovation and sustainability of energy networks.

The global Building Energy Management Systems market has been segmented on the basis of software, communication technology, service, industry and regions. Based on software, the market is segmented into data management, asset performance optimization, application platform, HVAC system, and lighting system. Based on communication technology, the market is segmented into wired and wireless. Based on service, the market is segmented into consulting & training and support & maintenance services. Based on industry, the market is segmented into manufacturing, telecom and IT, office and commercial buildings, Municipal, and others.

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Key questions answered in this research report:

• • At what pace is global Building Energy Management Systems market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Building Energy Management Systems market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Building Energy Management Systems market?
  • Which software generated maximum revenues in 2019 and identify the most promising software during the forecast period?
  • What are the various services of global Building Energy Management Systems market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues (2027)	USD 8412 million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Software, By Communication Technology, By Service, By Industry, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	ABB, Accenture, Cisco, Emerson Electric Co., General Electric, Hitachi Ltd., Honeywell International Inc., IBM, Ingersoll Rand Security Technologies, Johnson Controls, and Schneider Electric., among others; a total of 11 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Building Energy Management Systems Market by Software

• • Data Management
  • Asset Performance Optimization
  • Application Platform
  • HVAC System
  • Lighting System

Global Building Energy Management Systems Market by Communication Technology

• • Wired
  • Wireless

Global Building Energy Management Systems Market by Service

• • Consulting & Training
  • Support & Maintenance Services

Global Building Energy Management Systems Market by Industry

• • Manufacturing
  • Telecom and IT
  • Office and Commercial Buildings
  • Municipal
  • Others

Global Building Energy Management Systems Market by Region

• • North America Building Energy Management Systems Market (Option 1: As a part of the free 25% customization)
    • North America Building Energy Management Systems Market by Software
    • North America Building Energy Management Systems Market by Communication Technology
    • North America Building Energy Management Systems Market by Service
    • North America Building Energy Management Systems Market by Industry
    • US Building Energy Management Systems Market All-Up
    • Canada Building Energy Management Systems Market All-Up
  • Europe Building Energy Management Systems Market (Option 2: As a part of the free 25% customization)
    • Europe Building Energy Management Systems Market by Software
    • Europe Building Energy Management Systems Market by Communication Technology
    • Europe Building Energy Management Systems Market by Service
    • Europe Building Energy Management Systems Market by Industry
    • UK Building Energy Management Systems Market All-Up
    • Germany All-Up Building Energy Management Systems Market All-Up
    • France Building Energy Management Systems Market All-Up
    • Spain Building Energy Management Systems Market All-Up
    • Rest of Europe Building Energy Management Systems Market All-Up
  • Asia-Pacific Building Energy Management Systems Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Building Energy Management Systems Market by Software
    • Asia-Pacific Building Energy Management Systems Market by Communication Technology
    • Asia-Pacific Building Energy Management Systems Market by Service
    • Asia-Pacific Building Energy Management Systems Market by Industry
    • China Building Energy Management Systems Market All-Up
    • India Building Energy Management Systems Market All-Up
    • Japan Building Energy Management Systems Market All-Up
    • Rest of APAC Building Energy Management Systems Market All-Up
  • RoW Building Energy Management Systems Market (Option 4: As a part of the free 25% customization)
    • RoW Building Energy Management Systems Market by Software
    • RoW Building Energy Management Systems Market by Communication Technology
    • RoW Building Energy Management Systems Market by Service
    • RoW Building Energy Management Systems Market by Industry
    • Brazil Building Energy Management Systems Market All-Up
    • South Africa Building Energy Management Systems Market All-Up
    • Saudi Arabia Building Energy Management Systems Market All-Up
    • UAE Building Energy Management Systems Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Building Energy Management Systems Market All-Up

Major Players Operating the Building Energy Management Systems (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ABB
  • Accenture
  • Cisco
  • Emerson Electric Co.
  • General Electric
  • Hitachi Ltd.
  • Honeywell International Inc.
  • IBM
  • Ingersoll Rand Security Technologies
  • Johnson Controls
  • Schneider Electric