At a Booming 13.20% Growth Rate: Building Energy Management System Market Generating Revenue of $15.9 Billion by 2030
Research Reports
Jul 22, 2023
Building Energy Management System (BEMS): Market Overview:
Building energy management system (BEMS) are computer-based systems that monitor and control a building’s electrical and mechanical equipment. They are used to optimize energy use, reduce operating costs, and improve occupant comfort.
The global Building energy management system market is accounted to register a CAGR of 13.20% during the forecast period and is estimated to reach USD 15.9 Billion by 2032.
Building Energy Management System Market Players:
Some of the leading players in the global BEMS market include:
- Honeywell International
- Johnson Controls
- Schneider Electric
- Siemens
- ABB
- Eaton
- Legrand
- Emerson Electric
- United Technologies Corporation
- Delta Controls
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Market Drivers:
- Rising energy prices: The cost of energy is rising, and this is driving businesses and organizations to look for ways to reduce their energy consumption. BEMS can help to achieve this by optimizing energy use and reducing waste.
- Increasing environmental awareness: There is a growing awareness of the environmental impact of energy consumption. Businesses and organizations are increasingly looking for ways to reduce their carbon footprint. BEMS can help to achieve this by improving energy efficiency and reducing emissions.
- Government regulations: Governments around the world are introducing regulations that require businesses and organizations to improve their energy efficiency. BEMS can help to comply with these regulations and avoid penalties.
Market Trends:
- The increasing adoption of smart buildings: Smart buildings are equipped with sensors and other devices that collect data on energy use. This data can be used by BEMS to optimize energy use and reduce waste.
- The growth of the Internet of Things (IoT): The IoT is connecting devices and systems in new ways. This is creating new opportunities for BEMS to collect data and improve energy efficiency.
- The development of new technologies: New technologies, such as artificial intelligence and machine learning, are being developed to improve the efficiency of BEMS.
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Building Energy Management System Market Segmentation:
The global BEMS market is segmented by component, application, type, and region.
- By component: The market is segmented into software, hardware, and services. The software segment is the largest segment, as it includes the software that controls and monitors the BEMS.
- By application: The market is segmented into HVAC, lighting, power, and others. The HVAC segment is the largest segment, as it accounts for the majority of energy consumption in buildings.
- By type: The market is segmented into wired and wireless. The wired segment is the largest segment, as it is more reliable and secure.
- By region: The market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is the largest market for BEMS, followed by Europe and Asia Pacific.
Market Challenges:
- The high cost of BEMS is a major challenge for the market. BEMS can be expensive to install and maintain. This can be a barrier for some businesses and organizations.
- The lack of awareness about BEMS is another challenge for the market. Many businesses and organizations are not aware of the benefits of BEMS. This can slow the adoption of BEMS in the market.
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Building Energy Management System Industry Advances:
September 2022: The second edition of IBM’s LinuxONE server was released; it is a highly scalable Linux and Kubernetes-based platform designed to execute thousands of applications on a single device.
July 2022: The Flow Consortium, which is financed by the European Union, and Eaton collaborated to design and demonstrate an Integrated Electric Vehicle Charging Infrastructure.
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