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Building Energy Management Systems (BEMS) Market to Experience High Growth by 2025

Author : Rahul Varpe | Published Date : 2019-07-16 

Building energy management systems market size in the U.S. 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.

Asia Pacific Building energy management systems market was 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.

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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.

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.

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.
  • FirstFuel Software
  • GridPoint
  • eSight Energy
  • Honeywell International
  • Ingersoll-Rand PLC
  • IBM
  • Johnson Controls
  • Jones Lang LaSalle
  • Schneider Electric
  • Optimum Energy LLC
  • Siemens AG
  • Toshiba
  • Verisae
  • SkyFoundry

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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.

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.

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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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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